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sawsanenn

Frontiers | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk P... - 0 views

www.frontiersin.org/...full

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • FinTechs and the Value Chains in the Financial IndustryIt is beneficial to remember how things worked before and after FinTechs and TechFins or big techs in the financial industry.Banking models are shifting significantly from a pipeline, vertical, paradigm, to modular solutions that pave the way to new banking paradigms that entail higher levels of openness toward third parties and a growing number of modular services bundled together.Value is created in platforms through economies of scope in production and innovation (Gawer, 2014). In order for platforms to work, adoption and network effects are essential. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. In particular, we assist both to the evolution of a Bank-as-a-Platform model and a tech-platform-driven model supporting banking and financial intermediation, which both constitute a new interesting field of analysis.Since the wave of digital transformation started entering the financial industr
  • , banking-as-a-business has started moving from a product/service perspective to more contextual solutions where providers are customer needs-driven. This is because customer-driven companies outperform the shareholder-driven ones, and this requires an outside-in approach.Having said that, it is beneficial to remember that digital transformation implies four main categories of innovation (product, process, organizational and business model) (Omarini, 2019, p. 340); all of them require rediscovering that a new strategy paradigm exists. This regards the concept of co-creation, and because of this no single firm can unilaterally carry out a process of continuous experimentation, risk reduction, time compression, and minimizing investment while maximizing market impact. Co-creation requires access to resources from extended networks (suppliers, partners, and consumer communities).Under these new market conditions, FinTechs have become an important piece of a bigger puzzle, each one in its own area of business (payment, lending, etc.), while at the beg
  • inning most of them started as mono-business companies. Only a few of them may become leaders in the market. On the one hand, there are those that make their strategy become international, and on the other, there are FinTechs which enlarge their services-scopes. However, the majority of them will become part of ecosystems where the direction could swing from banks to tech companies or to FinTechs as well, able to manage the network by developing kinds of conglomerate-as-a-service.Another interesting point to outline regards this recent period where all of us have experienced lockdowns around the world, and some effects have also impacted FinTechs as well. The valuations of most unicorns have crashed overnight, while on the FinTechs side there are different situations. Some of them have experienced a dramatic reduction in their
  • ...6 more annotations...
  • strategy development process, especially when the various units and individuals in the network must collectively execute that strategy. The key issue is this: balancing act between collaborating and competing is delicate and crucial” (Prahalad and Ramaswamy, 2004, p. 197).If co-creation is fundamental to the industry, this needs to leverage on a wider customer perspective that requires introducing the idea of developing ecosystems where the customer is truly free to move and choose the best deal in more competitive markets able to let consumers' ability to make informed decisions against any possible market concentrations among market providers.A business ecosystem (Moore, 1996) reflects the new paradigm of competition in a better way. Traditional management models aimed at gaining competitive advantage, such as vertical or horizontal integration, economies of scale and scope, are not effective anymore. The value of today's companies is determined by the size of its ecosystem (Tewari, 2014). Business ecosystems consist in crossovers of a variety of industries, of which companies cooperate and embrace open innovation to satisfy new customers' needs an
    • samiatazi
      samiatazi on 13 Feb 21
       
      Digital transformation implies four main categories of innovation: product, process, organizational and business model. FinTechs have become a significant piece of a greater riddle, every one in its own zone of business. The victors are those that have sufficient liquidity and money to purchase great innovation. This is particularly valid for installments that will be progressively contactless. Individuals costs and per-client commitment edge are key elements, and important markers. The more wellsprings of incomes an organization holds, the better it is for it to be a FinTech.
  • evaluation, others were quite lucky and suffered less.There are many and different feelings on the way FinTechs will exit this situation, which as far as we understand has overall accelerated some strategic choices.First of all, there are many and different FinTechs in the market. What is critical is to look at the fundamentals of the business. All of them are about answering what society is going to look like in the future (attitudes, behaviors, habits, etc.), so that if we no longer need to go to retail stores anymore, why do we need some services based on this situation? This, again, underlines that banking is a people business (Omarini, 2015) and this requires a business to be resilient to become adaptive to consumer changes or moves into a different market where you can still apply the service because the society is not yet ready to shift somewhere else, which means the same business in different markets. Just think of the ongoing situation where the recent wave of people is rethinking and restructuring their finances, so that they have decided to switch rates to digital banks. In this scenario, the winners are those that have enough liquidity—or better still cash-rich—to buy good technology and invest in new directions, also taking the opportunity to use the pandemic to its advantage. This is especially true for payments that are going to be increasingly contactless. However, some more les
  • sons can be learnt from difficult times especially due to external factors such as the following:- People costs and per-customer contribution margin are key factors, and valuable indicators. They are valuable for incumbents too. When staff costs rise, then this becomes a burden if growth is not going to move on. Then, if we move on the per-customer contribution margin (revenue, minus variable costs including credit losses), then this makes a FinTech earn more money per bank account than the cost of running those bank accounts.- One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.Under this oncoming market structure configuration, a focus on control and ownership of resources is giving way to the importance of accessing and leveraging resources through unique ways of collaboration. “The co-creation process also challenges the assumption that only the firm's aspirations matter. (…) Every participant in the experience network collaborates in value creation and competes in value extraction. This result in constant tension in the
  • One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can benefit so much from expanding its revenues streams. It lets the customers use the product or service in different ways which can't make them feel lazy to use a specific way.
  • The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process.
    • ghtazi
      ghtazi on 13 Feb 21
       
      FinTechs and TechFins have enabled new services to be launched and changed the way clients communicate to meet their financial needs. In the industry, the FinTech landscape is continuously changing.
  • They have brought to the traditional banking industry a wave of competition and broken pipeline value chains, unbundling them into different modules of products or services, which may be combined among themselves. These companies on the one hand and the BigTechs (Google, Facebook, Apple, Samsung, Alibaba, etc.) on the other have been forcing the industry to change, transform, and evolve in a set of new financial intermediation directions. Use of data and customer experience are both FinTechs' major assets and threats as well. On the one hand, they please the customers as individuals and introduce the paradigm of contextual banking. On the other, the two selling points are threatening both the incumbent players and regulators in different ways. For banks, it is even more urgent to react actively because their “no fee zone” is expanding, due to new regulations from the Consumer Financial Protection Bureaus (CFPB) and similar entities in different countries.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Since the digitalization wave entered the banking industry, financial institutions has begun to move from a product/service standpoint to more semantic alternatives where suppliers are pushed by customer needs. This is because the customer-driven firms outclass the investor ones, and this necessitates an outside strategy.
ayachehbouni

Prime Bank launches SimbaPay - International Money Transfer Service | Africanews - 1 views

www.africanews.com/...ational-money-transfer-service

shared by ayachehbouni on 13 Feb 21 - No Cached
  • “Through our digital platforms, we aim to make available a one stop solution to our customers in terms of funds transfer and with the inclusion of SimbaPay, our customers will now send money to friends and family across the world at the comfort of their mobile phones,” added Mr. Kantaria.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Prime Bank customers and Simbapay customers will both be able to send money to their friends and family across the world just by using their smart phone.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt appears to be useful since it shows how the partnership between SimbaPay and Prime Bank will result in an easier transfer of money between friends and family across the world and from mobile phones.
  • Through SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda among others. Commenting on the partnership, SimbaPay’s Head of Operations Victor Karanja noted that the service will provide a seamless platform for Prime Bank’s customer base to send money abroad at the click of a button.
  • To access the service, customers will need to login to the bank’s mobile banking app – PrimeMobi, then click on International Money Transfer icon on the homescreen. After confirming the amount to be sent, the sender’s bank account will be debited and money credited to the beneficiary instantly. Transfers can also be sent from M-Pesa using a dedicated SimbaPay Prime Bank pay bill number.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the instantaneous nature of international money transfers thanks to the Prime Mobi app (launched as a result of the partnership between SimbaPay and Prime Bank). The excerpt also reflects a partnership between SimabaPay and M-Pesa since transfers can also be done through the latter.
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  • usinesses as well as Kenyans and expatriates with friends and family abroad send over $18 Billion to other African countries, Asia and Europe annually with several billi
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      SimbaPay can benefit from this 18 billion dollar of transactions to offer its services and attract more customers
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      SimbaPay is a FinTech (financial technology) award winning company that offers international digital money distribution service to African banks and mobile money companies. Mostly, the SimbaPay product needs little to no technological integration for financial institutions' implementation.
  • Prime Bank (www.Primebank.co.ke), a leading private bank in Kenya, has partnered with London-based FinTech SimbaPay (www.SimbaPay.com), to launch an instant international money transfer service via the bank’s digital platform PrimeMobi.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      I believe that, through the partnership it made, simbapay was able to reinforce and evolve its services and reach a more diversified clientele.
  • mehdi-ezzaoui on 13 Feb 21
     
    SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets.
sawsanenn

When fintech met crowdfunding - AltFi - 0 views

www.altfi.com/..._when-fintech-met-crowdfunding

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • It became clear that fintech companies began to prize crowdfunding three years ago. Monzo crashed our servers in 2016 when it raised £1m in 96 seconds. Last December, the now-serial crowdfunding neobank raised £20m from retail investors. 
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Crowdfunding would be a beneficial strategy for EasyEquities to help young entrepreneurs raise money for their new investments.
  • The world’s leading fintechs are using crowdfunding to cement and enhance their relationship with their customers. The latest Unicorns report from Beauhurst, an independent analysis firm, identifies the UK’s 21 unicorn companies – those worth $1bn (around £760m) or more. Of the 21, six are fintechs, and two are digital banks: Monzo and Revolut. Both have turned to crowdfunding – at a time when they are the darlings of the tech scene and its investors – to raise capital. 
    • hichamachir
      hichamachir on 13 Feb 21
       
      Crowdfunding is becoming a very used strategy for fintechs because it's a concept that help entrepreneurs finance their projects. Also it's a concept that makes the community more connected
  • The staggering thing about Monzo’s raise – and it speaks volumes about where crowdfunding and fintech have reached – is that it did not need to raise the £20m from any of us on the street. In October – i.e. just two months shy of the raise – the bank had closed an £85m round led by VC firm Accel. Raising £20m is no walk in the park. You need to build a prospectus, which is a lengthy and expensive process. Monzo’s crowdfunding raise capped all investments at £2,000, meaning the team chose to have more investors to look after. 
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt uses the example of Monzo's fundraising through crowdfunding to show that the latter could be a great source of financing for fintech companies.
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  • Making consumers owners and giving them a say has become integral to how these companies run. Indeed, many are now building their own platforms to manage ownership. What does this tell us about the future? Here are businesses offering equity – not for money, not because they want to list, but to build an affinity with their customers. As these relationships evolve, both sides benefit: greater engagement – better products – more customers – growth – profit – both sides capitalise.  It could be called the democracy of building business. Technology is making this shift around the consumer possible not just in finance, but across markets. While the former has emerged as the vanguard, there are other non-tech sectors that have leapfrogged traditional ownership structures and cemented their own success. Food and beverage, historically underserved by the financial world, was an early adopter of crowdfunding. BrewDog is the poster child for this – a four-time Crowdcube funded brewery. It has 120,000 investors, aka Equity Punks, who, in its words, kick-started the craft beer revolution and, presumably, enjoy its beer. The prospect gets so much more exciting when you start to think of the markets that are hardest to disrupt, build a community around, and fight injustices: insurance, mining, the coffee industry, healthcare.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      Here the positive side of crowdfunding is presented and includes the ownership of customers over the businesses/brands they fo to. Crowdfunding here appears to be a great opportunity, which the article describes as the democracy of building business.
  • The world’s leading fintechs are using crowdfunding to cement and enhance their relationship with their customers. The latest Unicorns report from Beauhurst, an independent analysis firm, identifies the UK’s 21 unicorn companies – those worth $1bn (around £760m) or more. Of the 21, six are fintechs, and two are digital banks: Monzo and Revolut. Both have turned to crowdfunding – at a time when they are the darlings of the tech scene and its investors – to raise capital. 
    • ghtazi
      ghtazi on 13 Feb 21
       
      what we can say is crowdfunding is the future for fintech. using Crowdfunding will helps the fintech to have a stronger and powerful relationship with its customers.
  • To answer that, I believe we have to go back to the financial crisis. After 2008, a chasm opened up in financial markets, encouraged by a profound lack of trust. We’re well-versed with the outcomes. The banks that survived had to change their ways, and new players came onto the scene. A decade later, it is the novel relationship between these latest entrants and consumers that gives us an idea of what the future looks like: a world where any business-to-consumer company knows that sharing ownership with its customers is fundamental to long-term success. This is the cooperative movement of the twenty-first century, and it is driven by technology.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This could imply that future companies are effective for a variety of reasons. Rather than capitalizing on cost savings, piling up high-quality products and selling them cheaply, or structural brands that are more myth-based than substance-based, they will be firms that effectively utilize network effects, concentrate on being a product first, and bake their clients into everyones brand
hibaerrai

KYC and FinTech: Addressing the challenges of knowing your customer in the digital era ... - 0 views

10clouds.com/...kyc-and-fintech

Fintech Strategy Know your customer Digital

shared by hibaerrai on 13 Feb 21 - No Cached
  • ‘KYC’ is one of the most important terms in FinTech, as ‘knowing your customer’ is a regulatory requirement for all financial institutions. The main goal is fraud prevention and constraining the ability of certain users who do not meet given acceptance criteria. Traditionally of course, this was done entirely in person, with account holders visiting their banks with the relevant ID documents. But for the past years, KYC has been moving increasingly into the digital domain. This move has brought a vast range of benefits to users and FinTech providers alike, but a number of challenges remain. Below, we outline some of these and present you with ways in which to combat them if you’re looking to set-up, or improve your digital finance platform, or to improve your customer experience.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      The KYC strategy will help target one audience and know everything you need to know about it, and also the data is secured and organised. This process is more efficient in fintechs.
mohammed_ab

Benefits of Cloud Computing in Financial Services - iTech blog - 0 views

www.itechart.com/...build-fintech-in-the-cloud

Fintech Strategy Cloud Computing M-Pesa

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Cloud eliminates many data storage management problems that plague dated enterprise infrastructure. Cloud computing in banking offers easy access to data for regulatory reporting, risk mitigation, analytics, deep learning, and discovering risk management anomalies.
  • Cloud based financial services can scale to meet variable and increasing data volume. Plus clean, consolidated, contextualized data eliminates the blinders caused by data silos. Additionally, on-premise grids typically force banks to allocate compute resources while cloud resources are available on-demand.
  • Open banking promotes banking and payments technology standardization, drives competition, enhances security of customer account data, and leads to data use innovation. APIs simplify the way financial institutions collect actionable data (e.g. customer purchasing, loan needs, preferred journey patterns, risk profiles, and future income projections).
  • mohammed_ab on 13 Feb 21
     
    Using cloud computing can really improve data protection which is vital for a company like M-Pesa.
hindelquarrouti

The Impact Of Cloud Computing In Fintech - VEXXHOST - 1 views

vexxhost.com/...cloud-computing-in-fintech

strategy clouds fintech Africa

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • The impact of cloud computing in fintech is evident. While the use of cloud technology within fintech services is still catching on, the opportunity for growth is massive. Even though cloud adoption is still in its early stages, cloud computing in fintech is growing at a steady pace. Moreover, a total of 22% of all applications within fintech are currently running on the cloud. That being said, this leaves substantial room for growth and innovation.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Cloud Computing is in rapid expansion, already 22% of all applications in Fintech run on the cloud which presents plenty of benefits like flexibility, security and scalability.
  • Moving forward, banks are now able to partner with fintech startups with ease. Most noteworthy, startups are developing as cloud-native from the very start. The global fintech market size expects to grow to $124.3 billion USD by the end of 2025 at a Compound Annual Growth Rate of 23.84%
  • As an increasing number of businesses make the move to adopt a digital payment system, the demand for fintech solutions is only expected to grow and drive market growth.
  • hindelquarrouti on 13 Feb 21
     
    The use of cloud computing by fintechs is very strategic as it is contributing to their remarkable growth.
nourserghini

Fintech Trends 2020: New Technology in Financial Services - 0 views

venture-lab.org/...chnology-in-financial-services

Fintech Strategy Technology AI-chatbots

shared by nourserghini on 13 Feb 21 - No Cached
  • AI-powered ChatbotsBanks and most of the businesses in the consumer industry have to deal with so many customer inquiries. It requires them to set up dedicated staff members or a complete call center to keep answering the questions that may not directly benefit their business. The artificial intelligence relieves the financial institutions in this hassle with modern-technology equipped chatbots. These virtual assistants are smart in understanding the user queries and providing them with the most viable answer.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Fintechs can implement AI-powered chatbots to enhance their customers' experience with their platforms and services.
mehdibella

M-Pesa founders on launching Kenya's mobile wallet - BBC News - 0 views

www.bbc.com/...business-11793288

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • M-Pesa founders on launching Kenya's mobile wallet
  • Susie Lonie and Nick Hughes are the people responsible for Kenya's M-Pesa mobile money transfer system. It allows people without bank accounts to transfer money quickly, easily and safely using their mobile phones, and has radically altered developing world economies. There are now nearly 100 similar systems in the developing world.The pair recently picked up an Economist Innovation award for the service.The BBC's Fiona Graham spoke to them about launching M-Pesa, how businesses have benefited from the service, and dowries.
mehdibella

index.pdf - 0 views

Fintech Farmdrive kenya

shared by mehdibella on 12 Feb 21 - No Cached
  • FarmDrive has also partnered with the ACP-EU Technical Centre for Agricultural and Rural Co-operation (CTA) to build the capacity of Kenyan young farmers and stakeholders and help them access finance.
  • Farm Drive has a wide variety of partners including: investors (Engineers without Borders and Mercy Corps); capacity building (Open Capital advisors, ACRE Africa -to create insurance products); and financial institutions (Musoni Kenya).
  • FarmDrive catalyzes financial institutions to lend more to smallholder farmers by de-risking the process through clear and transparent records. Farmer clients of FarmDrive are benefiting from financial awareness, financial management tools, farming-related recommendations, access to finance and links to profitable markets.
    • mehdibella
      mehdibella on 13 Feb 21
       
      FarmDrive earns revenues from finance providers for their use of the credit profiles (fixed fee) and from farmers (percentage of loan amount as transaction fee).
mehdibella

AgroCenta: Digital food distribution platform creating shared value for businesses and ... - 2 views

agrocenta.com/about

Fintech Agrocenta ghana

shared by mehdibella on 07 Feb 21 - No Cached
  • Our Cropchain and LendIt platforms solve these two problems. Cropchain is our user-friendly integrated agricultural supply chain management platform that allows organizations to manage everything in the agricultural supply chain from outgrower schemes, logistics, traceability to digital trading, quality assurance and data analytics. LendIt, our financial inclusion platform enables farmers access digital services such mobile money payments for commodities sold, micro-lending/input financing, crop insurance and pension scheme for the informal sector.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      This excerpt is important because it highlights how AgroCenta solves two persistent problems in the Ghanian agricultural value chain. First, agricultural supply chain management is ensured through the Cropchain platform. Second, the financial inclusion mission of the company is ensured by the LendIt platform.
  • Our Cropchain and LendIt platforms solve these two problems. Cropchain is our user-friendly integrated agricultural supply chain management platform that allows organizations to manage everything in the agricultural supply chain from outgrower schemes, logistics, traceability to digital trading, quality assurance and data analytics. LendIt, our financial inclusion platform enables farmers access digital services such mobile money payments for commodities sold, micro-lending/input financing, crop insurance and pension scheme for the informal sector.
    • aminej
      aminej on 08 Feb 21
       
      This article shows that AgroCenta is built around an online trading platform which connects smallholder farmers to a larger structured market. It was founded by two ex-esoko employees Francis Obirikorang and Michael K. Ocansey in 2015. It is located in Ghana and more precisely in the capital which is Accra. The service is used through a smartphone so the main target customer here will be small holder farmers who have a phone.
  • Onboarding smallholder farmers onto the AgroCenta platform. Agents visit communities where smallholder farmers who deal in sorghum, rice, maize, millet and soybean are registered onto the AgroCenta platform to trade. Agents also work with farmer based organizations (FBOs) to carry out trading activities. 2 Facilitating trade deals on behalf of Smallholder farmers. Agents deal with buyers who wish to purchase directly from smallholder farmers. AgroCenta agents are trained in the field of technology, sales and marketing to effectively help smallholder farmers who have little or no knowledge of technology trade easily. 3 Gathering market information and statistical data. Agents are assigned to major trading markets across the country to collate data on market pricing for various commodities. This information is relayed to smallholder farmers via Voice technologies in languages they read and understand.
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      This excerpt is important because it shows how Agrocenta's agents help smallholder farmers, what are the responsibilities they have towards their customers. Plus, it encourage other farmers to join the digitalization world to improve their businesses.
  • ...6 more annotations...
  • Onboarding smallholder farmers onto the AgroCenta platform. Agents visit communities where smallholder farmers who deal in sorghum, rice, maize, millet and soybean are registered onto the AgroCenta platform to trade. Agents also work with farmer based organizations (FBOs) to carry out trading activities. 2 Facilitating trade deals on behalf of Smallholder farmers. Agents deal with buyers who wish to purchase directly from smallholder farmers. AgroCenta agents are trained in the field of technology, sales and marketing to effectively help smallholder farmers who have little or no knowledge of technology trade easily. 3 Gathering market information and statistical data. Agents are assigned to major trading markets across the country to collate data on market pricing for various commodities. This information is relayed to smallholder farmers via Voice technologies in languages they read and understand.
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      This excerpt is important because it shows how the Agrocent'as agents help the smallholders' farmers access different financial services, plus it encourages the other farmers to join the digitalization world and develop their businesses
  • Our Cropchain and LendIt platforms solve these two problems. Cropchain is our user-friendly integrated agricultural supply chain management platform that allows organizations to manage everything in the agricultural supply chain from outgrower schemes, logistics, traceability to digital trading, quality assurance and data analytics.
    • mehdibella
      mehdibella on 13 Feb 21
       
      this section shows how much Agrocenta is dealing with its supply chain management to allow farmers benefit from different schemes
  • AgroCenta is made up of dedicated and talented people. Our core team is made up of project managers, agricultural experts and consultants, software developers, regional and district managers and field agents.
  • Onboarding smallholder farmers onto the AgroCenta platform. Agents visit communities where smallholder farmers who deal in sorghum, rice, maize, millet and soybean are registered onto the AgroCenta platform to trade. Agents also work with farmer based organizations (FBOs) to carry out trading activities.
    • mehdibella
      mehdibella on 13 Feb 21
       
      AgroCenta is made up of dedicated and talented people. Our core team is made up of project managers, agricultural experts and consultants, software developers, regional and district managers and field agents.
  • ase directly from smallholder farmers. AgroCenta agents are trained in the field of technology, sales and marketing to effectively help smallholder farmers who have little or no knowledge of technology trade easily.
  • AgroCenta is made up of dedicated and talented people. Our core team is made up of project managers, agricultural experts and consultants, software developers, regional and district managers and field agents.
    • ghtazi
      ghtazi on 13 Feb 21
       
      this part is important because we can see how devoted and dedicated is agrocenta when it comes to choosing their team
  • aminej on 08 Feb 21
     
    Some of the advantages that will come with this platform are reducing unemployment and connecting between the lower social class and the high social class in order to develop relations and improve their services. Farmers will gain more profit since it will become more regulated and distribution facilities will be smoother between the two
nourserghini

Top five technologies that will transform the Fintech sector in 2020 - 0 views

www.information-age.com/ntech-sector-in-2020-123484767

Fintech Regtech Expansion

shared by nourserghini on 13 Feb 21 - No Cached
  • Fintech technology number one: The growing number of RegTech solutionsRegulatory technology is benefiting from recent groundbreaking fintech software innovations, creating automated solutions to manage regulation monitoring, compliance, and reporting. Keeping track of new restrictions in a single database is a comfortable way of adopting a financial institution to legal requirements.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Fintechs can also conder starting Regtechs as well to create automated solutions for monitoring regulations, especially consider their success in the digital world.
omarlahmidi

St. Mary's University Institutional Repository: ASSESSMENT OF THE OPPORTUNITIES AND CHA... - 0 views

repository.smuc.edu.et/...3790

shared by omarlahmidi on 13 Feb 21 - No Cached
  • The purpose of this study is to assess the challenges and opportunities of mobile banking in Dashen bank of Ethiopia with specific objective of assessing the current practices on both customers and the bank side, benefits and challenges realized by the bank and customers, the driving forces and opportunities in the bank for the adoption of mobile-banking .
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      As every company, Belcash faces competition.
mohammed_ab

Creating a Strategy for the New FinTech Ecosystem - Belatrix Software - 0 views

www.belatrixsf.com/...creating-strategy-fintech

Fintech Strategy M-Pesa Alliances

shared by mohammed_ab on 13 Feb 21 - No Cached
  • 1. Millennials squared – a parable of a digital wallet and beer moneyEarlier this year Sam Crowder stood up at a televised baseball game, and held a sign asking his Mum to send him “beer money”. He included his Venmo account information. Thousands of people sent him money, as his sign went viral. Beyond sharing this story as advice in case you ́re ever thirsty and leave your wallet at home, what it reflects is how the use of new technologies may start with digital natives, but then rapidly spread to other generations. It reflects the inter-generational adoption of, and use of, FinTech technologies.So, when looking at the potential of new services, it is important not just to consider the young people who will adopt it. But what will happen when they introduce the technology to their friends and family. Millennials are the earthquake that shakes companies, and adopt new tech and services at lightning speed. The rest of us are the tsunami of adoption that follows and lead to exponential growth.
  • 2. Facebook, Amazon, Google or Ant Financial will become the largest retail bank in the worldIt’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.“Some bankers and analyststhink that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. What is more, I think banks that are not prepared for such new competitors face certain death”Francisco González, CEO, BBVA
  • hese major tech companies have the platform and the scale to upend retail banking. They already have a digital wallet which underlies the services that enable users to buy and sell on their platforms, such as Google Wallet and Amazon Payments. Facebook Messenger Pay is already available in the US while it recently received an e-money license from the Central Bank of Ireland. This means European users will be able to store and transfer money, and make online purchases. The transition to becoming the largest retail bank in the world will be swift and brutal for traditional banks.
  • ...7 more annotations...
  • 3. Regulators finally make the pivot to supporting the FinTech ecosystemBitX, a bitcoin startup in Singapore, was looking to enter the UK and European markets. Instead of having an arduous journey gaining the required licenses and approvals as it would have expected in the past, BitX was accepted into the regulatory sandbox of the UK’s Financial Conduct Authority. This enabled it to test its services and build its product with the backing of the regulator. This kind of thinking reflects how in the past few years we have seen regulators move from hindering innovation and new services, to proactively supporting and strengthening the FinTech ecosystem.It is a challenging line to take, particularly in the
  • world of finance – to help create the framework and environment for innovation, while also protecting consumers and businesses. However, increasingly we see regulators getting this blend right.For example, the European Union’s Directive on Payment Services (PSD2) will create an EU-wide single market for payments. This will drive new opportunities and innovation in the payment sector, because it will force financial institutions to provide secure access for a third-party service provider to a customer’s online account. Meanwhile, we have seen regulatory sandboxes emerge not just in the UK, but in locations from Singapore to Australia. The US Treasury meanwhile recently announced it will start issuing special purpose national bank charters to FinTech companies.In the future, expect to see the emergence of “RegTech”. This will enable real-time interaction and analysis between regulators and financial institutions. Indeed, thi
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • samiatazi
      samiatazi on 13 Feb 21
       
      this article points out 4 expectations for the fate of FinTech and Financial services. However, I think that the most interesting one is the last one which states that The effect of FinTech advancement is frequently made and experienced outside the usual Hub of Finance, for example, New York, London or Singapore. Giant Companies are searching for inspiration among innovative and creative products, items and thoughts being made from Guadalajara, to Laos, to Kenya. I really like this part too, stating that We will see markets and administrations arising which are as of now not on anybody's guide, and become the absolute most significant Fintechs on the planet.
  • software platform between itself and the banks, so it can view and analyze information in real-time.4. Look beyond the hubs to find innovative ideasAcross Kenya, mobile money has become ubiquitous – being used by at least one person in 96% of Kenyan households. But what is the real impact of mobile money in such countries? One study estimated that M-PESA, the Kenyan mobile money system which enables money to be stored on a phone and be sent via text, has helped lift 2% of Kenyan households out of poverty.What this example demonstrates is that the impact of FinTech innovation is often created and experienced outside of the usual hubs of finance su
  • In the past few years we have seen the rapid evolution of FinTech from generating novel ideas which solve customer problems, to offering core financial services. We have seen the shift from digital startups, characterized by a lack of financial wherewithal and which operated on the edge of tightly regulated markets, to the emergence of mature financial digital organizations at the heart of the traditional financial world.We can describe the development and maturing of FinTech in 3 main waves:The early emergence of digital startups helping consumers. Originally FinTech solutions were the preserve of B2C markets which solved specific customer problems such as offering home loans faster and easier. They used new technologies such as mobile and cloud computing, and were characterized by a laser focus on the customer with all the hall-marks of a digital Silicon-Valley style start-up.Transition to B2B markets. Today FinTech plays a role at the core of B2B innovation in financial markets, and industry observers widely expect B2B FinTech revenues to dwarf those in consumer markets within the next couple of years. Organizations such as Currency Cloud (cross border B2B payments), Payoneer Escrow (escrow services), and Hummingbill (B2B invoice platform) all reflect a maturing industry.The creation of an ecosystem between FinTech and traditional players. FinTech organizations are realizing that the required go-to-market investment, economies of scale, and regulatory needs, means it makes sense to partner with traditional financial institutions. On the other side, established players recognize the value, innovation and potential of FinTech in a world which is increasingly mobile-first. These financial institutions are also adopting many of the methods that FinTechs use so successfully, from a focus on the customer, to using Agile software development, to holding hackathons, and forming accelerators and innovation programs.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows the three waves that each fintech companies go through. Currently, most companies are still in b2b markets which an new innovative role in the financial markets; howver, not all companies are doing the same thing. Some of them still need a real bank ( Not virtual) to make transactions and don't trust softwares.
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • ghtazi
      ghtazi on 13 Feb 21
       
      What this example shows is that beyond the usual finance hubs, such as in New York, London, or Singapore, the influence of FinTech innovation is also generated and experienced.
  • It’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.
  • mohammed_ab on 13 Feb 21
     
    This article explains how the big e-commerce giant Amazon and the dominant social media platforms will become the largest retail banks in the future. I think that M-Pesa could benefit from strategic alliances or partnerships with these big giants.
kenzabenessalah

FarmDrive: Connecting farmers to financing | Mercy Corps - 0 views

www.mercycorps.org/...farmdrive

FarmDrive SocioCultural Economic Funding Farmers

shared by kenzabenessalah on 12 Feb 21 - No Cached
  • While financial inclusion in the country has increased, many farmers remain excluded. Limited financing for farmers is due, in part, to a lack of available credible risk-assessment information for financial institutions. Many small farmers are unbanked and off the financial grid, without credit profiles to verify or back up details on their annual income, business expenses or yields.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Without thiis information, farmers are left with little to no access to financial services, while lenders miss out on the opportunity to build their client base and agricultural loan portfolios.
  • FarmDrive generates real-time credit reports for small farmers, allowing them to access loans from financial institutions and agricultural input providers via mobile phone. 
  • FarmDrive collects expense and revenue data from farmers via SMS and combines it with satellite imaging, remote sensing technology and alternative data points (e.g., soil analysis, weather forecasts) to create detailed yield estimates and assess credit risk.
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  • FarmDrive overlaps our focus areas of agriculture and financial inclusion, empowering the world’s most vulnerable farmers with the digital financial services they need to strengthen and improve their livelihoods. 
    • mehdibella
      mehdibella on 13 Feb 21
       
      FarmDrive collects expense and revenue data from farmers and combines it with satellite imaging, remote sensing technology and alternative data points to create detailed yield estimates and assess credit risk.
  • We’ve connected FarmDrive to various partners and expertise to help them scale, as its usage increases in other developing markets in sub-Saharan Africa. 
  • Reports allow credit providers to make informed lending decisions and easily reach rural clients, expanding access to financing for small farmers. As a result, farmers have greater control over their livelihoods – equipped with what they need to increase their crop yields, improve their incomes and invest their additional revenue back into their families and communities.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      FarmDrive collects data from farmers using different technologies which allows the company to generate farmers' credit reports which allow loan providers to make informed decisions and therefore give more access to financing to small farmers.
  • Since, FarmDrive has reached hundreds of farmers with its suite of financial services, credit reports and financing options, with a particular focus on serving women and youth farmers typically neglected by the formal financial system.
    • kenzabenessalah
      kenzabenessalah on 16 Feb 21
       
      The focus that FarmDrive has on serving women is essential to keep in mind. We must dig deep as to why they are being neglected by the financial system and make sure that they never get fooled by them in the future.
  • In Kenya, most small farmers — around 7.5 million — lack access to small loans to help them buy what they need to improve their production and make the most of their land – things like quality fertilizers, better seeds, livestock and micro-irrigation.  
    • kenzabenessalah
      kenzabenessalah on 16 Feb 21
       
      Knowing the percentage of the population who do not own bank accounts as well as the percentages of loans that others have access to is a must to help improve the economic situation in Kenya. Such details, like interest rate, etc. are essential in helping people construct a well structured economic strategy so that all Kenyans benefit from these financial services and never fall back again.
samielbaqqali

Contents contributed and discussions participated by hichamachir - Spring 21 Capstone 6... - 0 views

groups.diigo.com/...hichamachir

Fintech Snapscan Payments

shared by samielbaqqali on 12 Feb 21 - No Cached
  • The overall benefits for businesses and customers include: Safety and security: Customers can pay via their mobile phone and retailers can rest assured knowing that extensive security measures are in place. Speed: It’s fast, as customers simply need to scan the display code at a till point. Convenience: There is no need to carry cash around and paying via SnapScan offers a frictionless experience. Cashless: As customers won’t be using cash, it is easier for businesses to authenticate and formalise transactions. SnapScan is a mobile payments solution with a variety of payment options available for retailers.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      I like the concept of defining SnapScan as a solution for companies looking for a service that is quick and good.
hichamachir

(UPDATED) Weekly Roundup 10-2-15: Kiva Zip folds in Kenya - what happened? Updated with... - 0 views

nextbillion.net/weekly-roundup-10-2-15

KivaZip Partnerships Kenya Crowdfunding

shared by hichamachir on 12 Feb 21 - No Cached
  • So the service seemed like a win-win-win, and to an outside observer, its dual operations in the United States and Kenya appeared to be progressing smoothly. Kiva Zip’s senior director, Jonny Price, sounded upbeat when he wrote on NextBillion in April, “We’re excited by (Zip’s) potential to revolutionize the way that small business owners in America, and the wider world, are able to access microcredit.” Meanwhile, over the past four years, the platform enabled more than 8,000 lenders to make almost 10,000 microloans totalling a reported $1.8 million to more than 6,500 borrowers in Kenya alone.
  • hichamachir on 12 Feb 21
     
    Kiva can benefit from partnerships that could improve its business. I believe that if the partnership deal is a win-win deal, kiva must take it! That's why I think that this partnership can help kiva improve its business a lot!
mohammed_ab

Frontiers | Blockchain Technology for Agriculture: Applications and Rationale | Blockchain - 0 views

www.frontiersin.org/...full

WorldCover Blockchain Fintech Crop Insurance

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The blockchain technology allows peer-to-peer transactions to take place transparently and without the need for an intermediary like a bank (such as for cryptocurrencies) or a middleman in the agriculture sector. By eliminating the need for a central authority, the technology changes the way that trust is granted – instead of trusting an authority, trust is placed in cryptography and peer-to-peer architecture
  • mohammed_ab on 12 Feb 21
     
    The use of blockchain in agriculture has many benefits for farmers and for suppliers of fintech solutions.
aminej

Ghana's Zeepay plans mobile-money expansion to South Africa, Rwanda - 0 views

www.theafricareport.com/...pansion-to-south-africa-rwanda

Ghana Money Fintech Mobile Service Transfer Lending

shared by aminej on 09 Feb 21 - No Cached
  • Takyi-Appiah says he saw opportunity in the fact that customers had to wait for days and queue up to obtain remittances sent to banks. Foreign expansion soon followed, and Zeepay now counts Côte d’Ivoire and Zimbabwe as its second- and third-largest markets.
  • Ghana’s Zeepay plans to raise $10m in equity funding to support the creation of new mobile-money hubs in East and Southern Africa, Andrew Takyi-Appiah, co-founder and managing director, tells The Africa Report. The new hubs, which will include processing centres and back offices, are likely to be in Rwanda and South Africa, says Takyi-Appiah from Accra. He adds that the use of Swahili in Rwanda makes it a good platform from which to reach out to other markets in the region.
    • aminej
      aminej on 12 Feb 21
       
      This new Fintechs are becoming more and more developed and present in different countries across Africa. It is good to see such companies being innovative and competitive in order to show what the African continent is really capable of
  • samielbaqqali on 09 Feb 21
     
    It is important that the company takes advantages of the customers' struggles to find a creative way to encourage them to benefit from the service.
samielbaqqali

Huawei joins WorldRemit in mobile money transfer deal for Africa - 0 views

www.chinagoabroad.com/...money-transfer-deal-for-africa

Worldremit Partnernship Money

shared by samielbaqqali on 12 Feb 21 - No Cached
  • Digital money transfer service WorldRemit has partnered with Chinese smartphone maker Huawei to enable the international transfer of money across Huawei's mobile services in Africa, the companies said on Tuesday. Mobile money services that allow customers to transfer funds using their phones have proved hugely popular in parts of Africa, particularly where people have less access to traditional bank accounts.
  • Mobile money services that allow customers to transfer funds using their phones have proved hugely popular in parts of Africa, particularly where people have less access to traditional bank accounts.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Huawei is a big business that can provide many opportunities and rewards for WorldRemit. WorldRemit will now profit from Huawei's domination of the African continent. In order to gain more market share in Africa, I think this collaboration is a great idea for WorldRemit.
  • hichamachir on 12 Feb 21
     
    Huawei is a huge company that can offer WorldRemit many opportunities and advantages. WorldRemit can now benefit from the dominance of Huawei in the African continent. I believe that this partnership is brilliant idea for WorldRemit in order to gain more market share in Africa.
chaimaa-rachid

IfG.CC - Egypt: Fawry launches first nation-wide electronic bill payment and presentmen... - 2 views

ifg.cc/...ayment-and-presentment-network

Egyptian banks services security

shared by chaimaa-rachid on 11 Feb 21 - No Cached
  • "The success of Fawry is driven by the adoption of a large number of billers and banks to ensure that the largest part of the Egyptian population can benefit from Fawry," said Magda Habib, chief commercial officer at Fawry. "We are in the process of on-boarding a significant number of new members across a diversity of services ranging from social clubs to schools to utilities and insurance, ensuring that Egyptians are able to access and pay their bills across a wide range of services with ease and complete security through Fawry."
  • chaimaa-rachid on 11 Feb 21
     
    I appreciate how Fawry cares about its customers, they want to make sure all Egyptians are able to use their various secure payment options.
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