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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.
  • ...3 more annotations...
  • 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
kaoutarchennoufi

SmartelMoney | Products & Services - 0 views

smartelmoney.com/products-services

CustomerBase Wide LoyalCustomers WoM

shared by kaoutarchennoufi on 10 Feb 21 - No Cached
  • Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world.
    • sawsanenn
      sawsanenn on 10 Feb 21
       
      the benefits of using the application include; that business people will get new customers and widens the reach of their market base as it will be very easy to pay or receive cash conveniently.
  • Are acronyms for the Smartel Money Point of sales system and the Smartel Money Mobile point of sales systems respectively. These are the application systemsthat have access an access to the Smartel Money central engine. The sPOS runs on the normal desktop or a laptop computer, This system is connected to the Smartel Money central system, this system is used by the stationery merchants such as the grocers and has the capacity to parse smartel money as a payment instrument. The merchant may also chose to have the ERP linked to their sPOS. The smPOS is meant for the non-stationery merchant, as it runs on a mobile platform that is the iOS and android OS. Both the sPOS and the smPOS can use the CPEM and the security code scanning/tagging parsing technologies.
    • aminej
      aminej on 12 Feb 21
       
      They also thought about everything when it comes to safety measures since it is very important to comfort people that their money are in safe hands. Indeed, these measures are important to take in order to avoid a leak of information which could cause many issues to the Fintech
  • Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world.
    • kaoutarchennoufi
      kaoutarchennoufi on 12 Feb 21
       
      Another added value of Smartelmoney , is that it has a wide customer base including banked and unbanked people in addition to other organizations. I believe that this large customer will gives the organization a better chance of reaching out to more people and expanding the base. Loyal customers are always effective in spreading a good word of mouth which will eventually attract more customers.
  • ghtazi on 10 Feb 21
     
    It will also help them to improve their brand image as they will be able to market their businesses by advising clients with the easy way of paying and receiving money..
mehdi-ezzaoui

Ethio-Pay Celeb - 0 views

Ethio-Pay Celebrates Official Launch, Finally   Consumer pressure urged the last bank to join the integration line   The belated national e-payment switch, Ethio-Pay, serving the integr...

Ethiopay

started by mehdi-ezzaoui on 12 Feb 21 no follow-up yet
hichamachir

FinTech done right: How Senior Solution capitalized on FinTech - 0 views

www.imd.org/...fintech-done-right

Fintech Strategies Customers Insurance

shared by hichamachir on 13 Feb 21 - No Cached
  • Focus on your customers’ pain pointsSenior Solution clearly identified many of its customers’ pain points and tweaked its offering to help customers overcome them. Among the difficulties customers faced were a fragmented and large number of suppliers. This lack of integration created compliance problems and compatibility issues due to the company having multiple platforms. Also, no end to end solution existed. Different systems existed for bonds, equities, foreign exchange, front and back office, and more. In addition there were specificities from the Brazilian context that complicated dealings with banks such as a high level of inflation: traditional systems cannot handle so many digits, for example. And, previously there were complex methods for computing interest rates on interbank loans. All of these issues added up to be a hassle for customers who had to deal with them manually before Senior Solution introduced a way to ease the process.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can focuses on the weak points of its customer by offering small insurance packaging to small scale farmers because this category doesn't like to pay much money for insurance
sawsanenn

SimbaPay | F6S - 0 views

www.f6s.com/simbapay

FinTech E-payments Kenya

shared by sawsanenn on 13 Feb 21 - No Cached
  • Customers can also use our bill settlement technology to pay merchants in Africa such as universities, mortgage providers, hospitals, utility companies etc. Payments are instant and we cut out the 'middle-man' thus reducing transaction costs for the customer.
  • Customers can also use our bill settlement technology to pay merchants in Africa such as universities, mortgage providers, hospitals, utility companies etc. Payments are instant and we cut out the 'middle-man' thus reducing transaction costs for the customer.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Simbapay permits its users to use their technology to pay merchants in Africa and promises an instant payment, and reduce the transaction costs.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      The excerpt is important because it provides us with an overview oof product/service offerings from SimbaPay. The main objective of SimbaPay seems to be cutting out the middle man, and reducing the transaction costs that customers used to pay for before.
  • We offer additional services to Diaspora such as opening bank accounts back home using our app. This initiative won us the Demo Africa 2015 award and has seen strong interest thus far. We are also working on offering other Diaspora services such as insurance for relatives back home and P2P lending from Diaspora to borrowers back in Africa.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it complements the previous paragraph, as it introduces another set of services offered by SimbaPay. These services targetted towards the Diaspora are core to what SimbaPay proposes to customers.
  • ...1 more annotation...
  • We let customers send money to family and friends in Africa in a fast, convenient and cheap way. Users in the UK & Europe can use our app to have money delivered instantly to mobile wallets or bank accounts of their loved ones in Africa.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      It is a good and trustworthy way to send money to Africa. the fact that they make the transaction cheap can give simbapay a competitive advantage
hichamachir

How FinTech is Transforming The Insurance Industry | Clearbridge Mobile - 0 views

clearbridgemobile.com/forming-the-insurance-industry

Fintech Artificial-Intelligence InsurTech

shared by hichamachir on 13 Feb 21 - No Cached
  • Enhancing the Customer Experience with InsurTech Financial service companies understand the demand for mobile. PwC’s recent FinTech Survey notes the significant growth in customers using mobile applications by 2020, and 75% of respondents say the most important impact FinTech will have is an increased focus on the customer.   Similar to FinTech, InsurTechs have many advantages insurance companies can leverage. These lean startups are free from legacy products and processes; they can use emerging technologies to build brand new systems; they can target specific value pools instead of offering lengthy end-to-end solutions that don’t meet everyone’s needs. Overall, InsurTech’s can go to market entirely different than traditional insurance companies. By partnering with InsurTech enterprises, insurers can offer:   Enriched Connectivity. Artificial intelligence (AI) solutions can eliminate friction at several touch points in the customer journey. Chatbots will be able to understand and act on customer queries at any time. With deep learning, chatbot solutions can further interpret sentiment to identify when to introduce a human agent.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula is a successful InsurTech company. However, I suggest that Pula uses Artificial Intelligence even more especially if they can create a system that explain their service to the customers in a very clear way. Human agents sometimes don't operate objectively because they might get emotional and make the company lose a significant customer but it's not always the case for sure. So, I suggest a mix of AI and human agents.
ghtazi

Mukuru | Company Profiles | Africa Outlook Magazine - 0 views

www.africaoutlookmag.com/...1130-mukuru

Mukuru Transformative Solution Easy

shared by ghtazi on 13 Feb 21 - No Cached
  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Mukuru targets unbanked individuals, ignored migrants and others. The goal was to make money and remittance transfers easier and safer. I believe that they should follow WorldRemit's path and expand more internationally.
  • “We’ve attempted to stay true to this approach as our business has grown, expanded and evolved – if we continue to obsess about trying to understand what customers really need and build solutions to address these requirements, then we’ll be well placed to walk alongside our customer base as their needs evolve.”  Following this philosophy, Mukuru has developed a remittance portfolio that is characterised by a high degree of customer loyalty, trust and repeat business – features that have enabled the company to reach a total 25 million transactions, a figure recorded in late 2018.   
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows that innovation and improvement of customers experience are the keys to Mukuru's success since they put all their focus and attention into their customers
  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • ghtazi
      ghtazi on 13 Feb 21
       
      through this excerpt, we can see that Mukuru wanted to produce a transformation solution that will be easy to use for everyone and accessible to anyone with a mobile phone. they put themselves in the customer's shoes in order to better understand their needs and preferences.
ayachehbouni

Kenya's Bismart Insurance Launches E-Commerce Platform for Industry Players - 0 views

www.inversk.co.ke/...-platform-for-industry-players

shared by ayachehbouni on 13 Feb 21 - No Cached
  • The Kenyan insure-tech company, Bismart, has unveiled an online e-commerce platform that will enable insurance companies, brokers, agents to connect with their customers end to end.Dubbed Pamsmart, the cloud-based platform is tailored to cut down the costs of developing new technologies for insurance players by 90%.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Bismart has recently launched an online e-commerce platform that will facilitate its service and that relies on the cloud-based platform Dubbed Pamsmart.
  • 337SHARESShareTweetSubscribe The Kenyan insure-tech company, Bismart, has unveiled an online e-commerce platform that will enable insurance companies, brokers, agents to connect with their customers end to end. Dubbed Pamsmart, the cloud-based platform is tailored to cut down the costs of developing new technologies for insurance players by 90%.
    • aminej
      aminej on 13 Feb 21
       
      Bismart have managed to create a new platform that will enable customers to have more insight and information about their services and how they work. It is good since it gives some kind of education to people who do not know anything about that
  • 337SHARESShareTweetSubscribe The Kenyan insure-tech company, Bismart, has unveiled an online e-commerce platform that will enable insurance companies, brokers, agents to connect with their customers end to end. Dubbed Pamsmart, the cloud-based platform is tailored to cut down the costs of developing new technologies for insurance players by 90%.
  • ...1 more annotation...
  • Through the platform, customers can easily check the status of their policies, approvals, and lodge insurance claims from online platform.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Bismart helps customers manage and check their policies in addition to giving them more knowledge about the status and progress of these policies. This is great as customers will feel more at ease knowing exactly what is happening with their policies.
mehdibella

Lipa na M-PESA, Lipa na M-PESA Charges, Lipa na M-PESA Rates - Safaricom - 0 views

www.safaricom.co.ke/...what-is-lipa-na-m-pesa

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Loosely translated to ‘Pay with M-PESA’ (mobile money service). The service has two components, Paybill and Buy goods. Pay Bill is for remote payments and the customer does not have to be present whilst paying.  The customer has an official relationship with the organization to whom they are making payment and has an “account number” that helps identify the user. The customer inputs a business number (paybill number) for the entity they are paying. Buy goods and services is mostly for retail purchase of goods and services. Both parties immediately confirm these proximity payments via text message. No relationship between the buyer and the organization or account number is required.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      The Lipa Na M-Pesa solution is very clever and adequate. It has two components: The "Pay Bill" where payments is done remotely and The "Buy goods" which is much easier and does not require any account number and the transaction is done via text messages. M-Pesa is offering its customers a huge flexibility in terms of payments solutions which makes it very desirable and highly effective.
  • What is Lipa Na M-PESA
  • Loosely translated to ‘Pay with M-PESA’ (mobile money service). The service has two components, Paybill and Buy goods.
  • ...2 more annotations...
  • Pay Bill is for remote payments and the customer does not have to be present whilst paying.  The customer has an official relationship with the organization to whom they are making payment and has an “account number” that helps identify the user. The customer inputs a business number (paybill number) for the entity they are paying.
  • Buy goods and services is mostly for retail purchase of goods and services. Both parties immediately confirm these proximity payments via text message. No relationship between the buyer and the organization or account number is required.
ghtazi

9 Fintech Startups in Ghana To Watch Out For - WeeTracker Research - WeeTracker - 0 views

weetracker.com/...hana-watch-weetracker-research

FinTech ghana MobileApp

shared by ghtazi on 27 Feb 21 - No Cached
  • The solution is a mobile app that helps customers to get access to financial investment solutions through their mobile phone regardless of an internet connection. Customers can select either long or short term investment solutions through our app or via our USSD platform
    • sawsanenn
      sawsanenn on 27 Feb 21
       
      one of InvestMobile's service
  • The solution is a mobile app that helps customers to get access to financial investment solutions through their mobile phone regardless of an internet connection. Customers can select either long or short term investment solutions through our app or via our USSD platform. The app intelligently integrates with the mobile money account of the subscriber and an agreed amount is deducted from the account daily, weekly or monthly and invested into financial investment instrument on behalf of the customer.
    • ghtazi
      ghtazi on 27 Feb 21
       
      this excerpt shows that one of the best solution that invest mobile offers to their customers
kenza_abdelhaq

Bango partners with TPAY MOBILE to accelerate mobile commerce London Stock Exchange:BGO - 1 views

www.globenewswire.com/...ccelerate-mobile-commerce.html

TPay Mobile Algeria Financial Inclusion Partnership

shared by kenza_abdelhaq on 11 Feb 21 - No Cached
  • TPAY MOBILE makes it easy for digital service providers to access over 600 million customers and accept payments across MEA and Turkey. Through one simple API integration, TPAY MOBILE’s full service mobile payment platform enables rapid business growth and drives financial inclusion.
  • Bango (AIM: BGO), the data-driven commerce company, and TPAY MOBILE FZ-LLC (TPAY MOBILE, www.tpaymobile.com) the full-service digital payments platform for the Middle East, Africa, and Turkey, have formed a strategic partnership to increase access to digital commerce. This partnership simplifies and accelerates entry into new markets for online merchants by connecting platforms and pooling operational expertise
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay mobile partnered up with the global company Bango that offers payment insights based on commerce data. This strategic partnership allowed the two companies to pull resources together and share their operational expertise.
  • ...2 more annotations...
  • TPAY MOBILE has pioneered digital commerce and financial inclusion in the Middle East, Africa, and Turkey. Its technology is used by regional digital merchants and international brands like Google, Apple, Unity, Huawei, PUBG and Tencent to connect to consumers across MEA and Turkey. These merchants can now scale globally through the worldwide payment reach enabled by the Bango Platform. In addition, merchants integrated to either Bango or TPAY MOBILE can accelerate revenue growth from their products and services, by using Bango Audiences in marketing programs, which attract more paying customers through payment behavior targeting.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      This partnership allows Tpay Mobile to use Bango platform and audiences and have a more global reach. This partnership also allows Tpay Mobile to target customers depending on their payment behavior and therefore attract more paying customers. On the other hand, Bango benefits from the digital commerce and financial inclusion expertise that Tpay Mobile has in the MEA region and Turkey.
  • App developers, stores and payment providers cross the threshold into the Bango ecosystem to converge, grow and thrive. By bringing businesses together and powering e-commerce with unique data-driven insights, Bango delivers new business opportunities and new dimensions of growth for customers around the world. Being inside the Bango circle means global merchants including Amazon, Google and Microsoft can work together with payment partners from Africa to the Americas, accelerating the performance of everyone on the inside.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay Mobile's partner Bango is a data driven company giving valuable insights to companies to enhance E-commerce performance, allow growth, and enhance customers' experience and inclusion on a broader scope.
  • samielbaqqali on 11 Feb 21
     
    Nowdays, rapid platforms get a lot of attention, because, as there's big competition, the only way for a platform to have an advantage is to work on the design and the rapidity
mohammed_ab

EasyEquities working on life insurance for its young clientele - 0 views

theworldnews.net/...urance-for-its-young-clientele

EasyEquities Investech Investment platform Trading South Africa

shared by mohammed_ab on 13 Feb 21 - No Cached
  • EasyEquities, one of SA's biggest online share-buying platforms, has set its sights on disrupting the traditional life insurance sector, with plans in the next 18 months to launch a new product aimed at its young customer base.Charles Savage, CEO of JSE-listed Purple Group, which owns 70% of EasyEquities, said the group realised there was a gap in the market after its annual customer survey found most of its subscribers were underinsured.
  • mohammed_ab on 13 Feb 21
     
    I believe that this is a smart move from EasyEquities. The majority of brokers and investment platforms don't really care about the performance of their customers as long as those customers are making transactions. Offering an insurance product to its young customer base will increase its customer loyalty along with a new revenue stream.
ghtazi

Ethio-Pay Celebrates Official Launch, Finally - 1 views

addisfortune.net/...brates-official-launch-finally

ATM card Payments

shared by ghtazi on 11 Feb 21 - No Cached
  • “What makes Ethio Pay profitable is not the number of ATMs; it rather is the large numbers of users. Our concern now is to work on promoting the system for increased customer involvement,” said Bizuneh.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      The important message to take from this statement is that not all payment services are making profits. The reason is due to the switch operations.
  • After last month’s unofficial launch of Ethio-Pay, customers of other banks complained that the Bank of Abyssinia’s (BoA) ATMs did not provide service for other cards; guards of some branches unaware of the complete switch operation were seen forbidding customers from trying their cards at the ATMs.
  • The switch does not treat banks that have fewer ATMs any differently than those with larger networks in place. In fact, the system enables hosted members, banks without their own payment switches, to issue ATM cards without having to invest in a network of machines. It is also open to the integration of newcomers in the future without additional payments for letting their customers transact on other ATMs, the CEO added.
  • ...4 more annotations...
  • It is all a result of low disclosure on the system start-up. We were among the banks engaged in the pilot phase,” said Yoseph.
  • After last month’s unofficial launch of Ethio-Pay, customers of other banks complained that the Bank of Abyssinia’s (BoA) ATMs did not provide service for other cards; guards of some branches unaware of the complete switch operation were seen forbidding customers from trying their cards at the ATMs. Oddly enough, 16pc of the amount transacted took place through BoA’s Machines.
  • The belated national e-payment switch, Ethio-Pay, serving the integration of Automated Teller Machines (ATMs) and Point of Sale (POS) machines, celebrated its official launch on May 12, 2016.
    • ghtazi
      ghtazi on 13 Feb 21
       
      On May 12, 2016, Ethio-Pay, the overdue national e-payment transition for the integration of Automated Teller Machines (ATMs) and Point of Sale (POS) machines, celebrated its official launch.
  • “We have our own regulation to solve possible audit dispute between banks. We also have a system to prove the audit’s accuracy,” said Bizuneh Bekele, CEO of Eth-Switch S.C.
  • mehdi-ezzaoui on 13 Feb 21
     
    Ethiopay is an innovative solution the software installation incorporates to ensure the switch's facilitation of banking accounts, took almost a year before step four, the official opening of Ethio-Pay.
ghtazi

BelCash Technology Solutions PLC (BelCash Ethiopia) Jobs and vacancies in Ethiopia, Feb... - 0 views

justjobset.com/...solutions-plc-belcash-ethiopia

easy financial access Online Fintech

shared by ghtazi on 11 Feb 21 - No Cached
  • The main focus for Hello brands is what customers want and expect from the respective services.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      The company focuses on customer satisfaction which is not the case for all companies. It is usually stated but never conducted the right way. Belcash's Hello brand has managed to created services like, Hellomarket, HelloLawyer, HelloDoctor, etc., to satisfy the needs of the people.
  • The Hello brands are aspiring and inclusive, aiming to connect all Ethiopian citizens for a brighter future; a future that unlocks the potential of the country and its diverse people
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this new brand of belcash offers new high level services with a better convenience, easy access, and affordability
  • Belcash is the proprietor and provider of the ‘Hello’​ brand. We attempt to find the perfect fit for our customers and partners. This heavy focus on customer service, innovation and professionalism means that our stakeholders are proud to identify themselves with us. Though each Hello brand represents a different service, they all share one key feature – the mobile phone is the access point for their service. The main focus for Hello brands is what customers want and expect from the respective services. The Hello brands are aspiring and inclusive, aiming to connect all Ethiopian citizens for a brighter future; a future that unlocks the potential of the country and its diverse people. The Hello brands say ‘Hello’​ to their customers and offer them essential services with a high level of convenience, quality and affordability. Over the last four years, our service has allowed the Ethiopian population to access the following services using their mobile phones: Health advice (HelloDoctor) Market access (HelloMarket / HelloGebeya) Labour market access (HelloJobs / HelloSera) Legal advice (HelloLawyer / HelloTebeka) Mobile Trade service (HelloBroker/ HelloDelela) And, since February 2015, in partnership with select Ethiopian banks and micro finance institutions; Financial Inclusion (HelloCash)
    • ghtazi
      ghtazi on 13 Feb 21
       
      this is very important because we can see how belcash wants to make financial access easy for everyone by introducing a new platform that is convenient and easy to use for the users.
sawsanenn

10 Things You Thought You Knew about M-PESA - 2 views

www.cgap.org/...-thought-you-knew-about-m-pesa

Financial inclusion FinTech Service Kenya Africa

shared by sawsanenn on 12 Feb 21 - No Cached
  • The M-PESA cash merchants (or ‘agents’ in M-PESA parlance) pre-buy mobile money so that they can sell it against cash to the customers who come to their retail store for cash-in operations. They are investing their own working capital and are not intermediating someone else’s funds. For cash-out operations, they sell their cash and buy mobile money instead. Consequently, the cash and M-PESA balances that cash merchants manage and store are always their own.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Cash merchants are mainly super users, who resell their own working capital balances, with no more access to the M-PESA platform than any other customers, except that they have higher transaction limits.
  • Each and every transaction done on the M-PESA platform is electronic and can therefore be monitored by Safaricom, which runs its own bank-grade anti-money laundering system. Even a cash-in or a cash-out operation has an electronic leg and is captured by the system. The Central Bank of Kenya gets regular reports on M-PESA transactions, as it does from other payment service providers.
  • Cash merchants are mainly super users, who resell their own working capital balances, with no more access to the M-PESA platform than any other customers, except that they have higher transaction limits.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa is a product which is stable, fast and reliable. However, because of their fear of technology, some people still don't know the value of this business. I assume that this is the case for most of countries with high illiteracy rates.
  • ...2 more annotations...
  • The M-PESA cash merchants are recruited by Safaricom after a due diligence process and put under specific training. They are regularly monitored and re-trained, and Safaricom aims to visit them on-site every two weeks. The same process is applied to all cash merchants so that any customer anywhere in Kenya has the same experience at any cash merchant.
    • ghtazi
      ghtazi on 13 Feb 21
       
      After a due diligence process, the M-PESA cash merchants are recruited by Safaricom and placed under unique training. They are tracked and re-trained daily, and Safaricom aims to visit them every two weeks on-site. All cash merchants are subject to the same procedure so that any customer anywhere in Kenya has the same experience with any cash merchant. which I believe will be something that will trigger its competitor.
  • The funds are deposited in several commercial banks, which are prudentially regulated in Kenya. In addition, the funds are held by a Trust and are therefore out of reach from Safaricom, which cannot access or use them. In the unfortunate event of Safaricom going bankrupt, the creditors of Safaricom would not have access to the M-PESA funds. This is a requirement from the Central Bank of Kenya which oversees M-PESA. The funds remain at all times the property of M-PESA users.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this is a good approach to gain customers trust since it's one of the main challenges of this business
  • hichamachir on 12 Feb 21
     
    M-Pesa is a safe, fast and efficient product. However, some people still don't know the importance of this company due to their fear from technology. I believe that this is the case for most of countries with high illiteracy rates.
nouhaila_zaki

A Global Success from Kenya - Banking - Credit Suisse - 0 views

web.archive.org/...global-success-from-kenya.html

M-Pesa Kenya Story Scope

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • It is no exaggeration to say that Kenya's economy depends on M-Pesa. According to the Central Bank of Kenya, the value of all transactions between June 2013 and June 2014 represented 39 percent of the country's GDP. M-Pesa moves more than one billion Swiss francs per year, and in fiscal year 2014 it earned the parent company 268 million francs, an increase of 21.6 percent over the previous year.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it highlights the role of M-Pesa as the backbone of the Kenyan economy, without which it may collapse.
  • It all started eight years ago – because of the family members who stayed home. As in most countries in sub-Saharan Africa, most of Kenya's population are farmers who live on the land. Young people in search of an education and jobs are drawn to the cities. If those earning money in the city wanted to support their parents financially, they long had to rely on uncertain and risky methods. They could send cash with a neighbor or a bus driver who happened to be driving through their village. Or they could send a postal money order, but that could take weeks, often failed to arrive, and in any case was possible only if the recipient had a post office box. This was about as unlikely as having a bank account.At the time, in 2007, several million Kenyans owned a cell phone with a Safaricom number. Then this phone number essentially became a virtual bank account number. Starting in March of that year, Safaricom customers could upload money to their cell phone and send it to other Safaricom customers. It arrived within minutes, and the recipient was informed with a text message. The money could be forwarded or received as cash from an M-Pesa agent.Two weeks after introducing the service, Safaricom had nearly 20,000 active M-Pesa users. After seven months, there were one million. Today,  20 million customers in Kenya are registered. More than 83,000 agents in cities and rural areas assist customers in uploading, sending and receiving money. Rural Kenyans with no banking options leaped from the agricultural age straight into the digital tomorrow.And transferring money from one cell phone to another was only the start. Today, users can pay their electricity and water bills, get cash from an ATM, buy airline tickets, add phone time, buy concert tickets, pay the taxi driver or butcher and take out a small loan, perhaps to purchase a solar panel that brings electricity to their home for the first time. 
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is excellent at narrating how the idea of M-Pesa came to be. Indeed, the founders observed that when young people living in cities wanted to financially support their parents who are still in the countryside, they had to rely on risky and lengthy methods. Also, the founders observed that several million Kenyans owned a cellphone with a Safaricom number. Hence, they decided that this phone number would become a virtual bank account number to which Safaricom customers could upload money and send it to other Safaricom customers. Today, transferring money is not the only thing M-Pesa provides, since user can now pay their electricity and water bills, retrieve cash from ATMs, buy airline tickets, add phone time, buy concert tickets, pay taxi drivers or butchers or take loans, or even purchase a solar panel to bring electricity at home for the first time.
ghtazi

Mukuru Groceries enables people in SA to support Zimbabweans in need - 0 views

www.bizcommunity.com/...204054.html

Service Offering Customers

shared by ghtazi on 13 Feb 21 - No Cached
  • African remittance provider Mukuru has launched a grocery service that will give foreign national workers living in South Africa, as well as any South Africa-based customer, the ability to send groceries to families and communities in Zimbabwe.
  • As one of the largest money transfer operators on the continent, the grocery service represents an extension of the company’s existing offering. At a time when many Zimbabweans are struggling to obtain basic commodities, Mukuru Groceries aims to help ensure that families are provided for and given the best chance to remain healthy throughout the crisis period.
  • “In addition to price fluctuations for basic goods, people also face the uncertainty of whether certain goods will be available - as many Zimbabwean retailers have struggled to replenish stock,” adds Jury. “By enabling South Africa-based workers to pay for a pre-agreed basket of goods for families in Zimbabwe, we are removing these uncertainties and providing families with peace of mind during this immensely tough period.”
  • ...3 more annotations...
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      These excerpts reflect how Mukuru managed to adapt to the changing circumstances during the covid-19 pandemic. By launching the Mukuru Groceries service, the company enabled poeple from South Africa (most probably Zimbabwe immigrants) to buy groceries for people in Zimbabwe (most probably their families). This reflects the capacity of adaptation and strong network that Mukuru enjoys.
  • Existing Mukuru customers will not be required to register for the grocery service, they will simply follow the same process on USSD and WhatsApp to create an order and pay at any Mukuru pay-in partner using a payment reference (similar to the cash order reference).
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      it is a good and easy solution for customers that are not expertized in using smartphones, so the procedure can be easy for them.
  • We have listened carefully to what our customers are asking for, and we have innovated and added to our service offering to make sure that Zimbabwean families receive the resources and support that they so desperately need right now,” says Andy Jury, CEO, Mukuru.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I think it is a good thing that Mukuru tries to put itself in the customer's shoes because it will be only beneficial for the company, and will help them to have a "closure" connection to their customers.
aminej

Bismart Insurance | F6S - 0 views

www.f6s.com/bismartinsurance

Fintech Funds Investing Online Mobile App

shared by aminej on 13 Feb 21 - No Cached
  • We started Bismart as an online comparison platform that creates trasparency in the insurance Industry by allowing customers to compare benefits and price and chose insurance based on information. Through data analytics, we learnt that the new and non-traditional customer/ the digital and mobile customer has unique preference for processes and products.
  • We started Bismart as an online comparison platform that creates trasparency in the insurance Industry by allowing customers to compare benefits and price and chose insurance based on information. Through data analytics, we learnt that the new and non-traditional customer/ the digital and mobile customer has unique preference for processes and products.
    • aminej
      aminej on 13 Feb 21
       
      Bismart offers a completly new type of insurance different from the traditional one that will help many entrepreneurs and people who want to start their business
hindelquarrouti

Deezer to provide collection services via Fawry Pay - Daily News Egypt - 1 views

dailynewsegypt.com/...lection-services-via-fawry-pay

fawry Deezer partnership

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • Deezer platform, which specialises in music broadcasting, has agreed with the electronic payment company Fawry to have the Fawry Pay platform provide payment and subscription services for its various music package
  • Deezer aims to attract music streaming market. Fawry already provides electronic payment services for other entertainment services, such as movie tickets, theatres, and football matches, as well as facilitating ways to pay subscriptions to watch dramas and more
  • Mohamed Okasha, managing director of Fawry, said that the partnership with Deezer aims to attract music streaming market. Fawry already provides electronic payment services for other entertainment services, such as movie tickets, theatres, and football matches, as well as facilitating ways to pay subscriptions to watch dramas and more
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Fawry has collaborated with Deezer to make it easier for clients to pay than before.
  • ...5 more annotations...
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • chaimaa-rachid on 11 Feb 21
     
    I think it's a good idea that Fawry has partnered with Deezer in order to make payment easier for customers than before.
  • hindelquarrouti on 13 Feb 21
     
    Fawry made a smart partnership with Deezer because it has seen that this later has experienced an increasing demand. Fawry now targets users of music streaming markets as it provides them with electronic payment services.
kenza_abdelhaq

Hello Paisa steps into conversational commerce: WhatsApp Business - 0 views

www.cm.com/...the-whatsapp-business-solution

HelloPaisa South Africa Remittance Partnership

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Hello Paisa’s solution to the problem is its easy-to-use money remittance app that enables customers to send cash to countries across the world in a manner that is affordable, fast and safe. With the Hello Paisa app, all you need is an active account and your mobile phone to easily create a transaction and send money home instantly.The high cost of data, however, remains a factor that prevents many customers from accessing the app.The solution: WhatsApp Business API. By using the WhatsApp Business solution, Hello Paisa customers can now initiate transactions via WhatsApp, thus taking a ground-breaking step into conversational commerce!From the comfort of an already utilised platform, Hello Paisa customers can now conveniently, easily and cost-effectively initiate transactions, obtain exchange rates, view transaction history, create or delete a recipient, and refer a friend.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      To enhance customers' experience, HelloPaisa incorporated WhatsApp Business API solution to its already existing application. New services and functionalities have therefore been made available to the platform's customers.
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