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hibaerrai

FinTech Strategy - MFSA - 0 views

www.mfsa.mt/...fintech-strategy

Fintech Strategy MFSA Digital

shared by hibaerrai on 13 Feb 21 - No Cached
  • the MFSA published a Consultation Document proposing to (i) launch a FinTech Regulatory Sandbox, (ii) set up a framework for the regulatory certification of RegTech solutions, while also encouraging persons developing SupTech solutions to approach the Authority through a dedicated online form, and (iii) provide a status update on the other strategic objectives presented under Pillar 1 of the FinTech Strategy
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      It is a good approach so stakeholers can know more about fintech strategies how it works and what are the regulations
  • MFSA FinTech Strategy Overview The MFSA aims to establish the foundations to enable FinTech start-ups and  scale-ups, technology firms and established financial services providers to develop viable FinTech solutions which drive innovation and enhance access to financial products, increase competition whilst promoting market integrity, deliver better customer experiences, and ultimately, contribute to the long- term success of the Maltese financial services sector.
    • ghtazi
      ghtazi on 13 Feb 21
       
      The goal of the MFSA is to lay the groundwork for start-ups and scale-ups of FinTech, technology companies, and existing financial services providers to create viable FinTech solutions that drive innovation and improve access to financial products, increase competition while promoting market integrity, provide better customer experiences and ultimately contribute to the long-term success of financial products.
  • The MFSA FinTech Strategy proposes to set out six pillars for the MFSA to create a holistic long-term approach to catalyse innovation, growth and competition in the financial services sector, whilst ensuring robust investor protection, market integrity and financial soundness.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Lead- Facilitate - Collaborate - Embrace - Educate - Strengthen
hibaerrai

How to Use Big Data in FinTech: Use Cases and Strategies | Mobindustry - 0 views

www.mobindustry.net/tegies-examples-implementation

Big Data Fintech Strategy Customers Technologies

shared by hibaerrai on 13 Feb 21 - No Cached
  • According to MarketsandMarkets, the global big data market is currently valued at almost $140 billion. By 2025, it’s expected to grow to $230 billion at a CAGR of 10.6%. This makes FinTech app development a priority for companies that are transforming financial services with big data analytics.FinTech is one of the industries that uses big data extensively due to its complex services, use of IoT technologies, and need for risk analysis and security, which requires fast operations on large amounts of data.Big data developers help FinTechs gather an overwhelming amount of information and derive insights that really matter in the decision-making process.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Big Data strategy will help gather all necessary data to know the customers behaviors and preferences and other criteria for better decision making.
hichamachir

Full article: The Future of Fintech - 0 views

www.tandfonline.com/...08956308.2019.1613123

Fintech Data-Strategy Africa Farmers

shared by hichamachir on 13 Feb 21 - No Cached
  • Create a data strategy that takes advantage of existing business data.“Democratize” the data—make it available to all within the business.Engage in a conscious process to shift the organization’s culture to one that is data driven.Bolster the culture change by quickly building examples of insights derived from data and establishing KPIs for data science.Establish standards for data governance, security, and privacy.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can create a data strategy that protects the data of farmers because usually these type of customers are not aware of the importance of data privacy.
mohammed_ab

FinTech Innovation Map Reveals Emerging Technologies - 0 views

www.startus-insights.com/...-reveals-emerging-technologies

Fintech Big Data Strategy

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Big DataIn addition to traditional financial data collection, new data sources such as mobile banking and the Internet of Things (IoT) provide an additional layer of data gathering. Combined with Artificial Intelligence, Big Data analytics utilize large amounts of old and new data to discover hidden patterns for better risk management and fraud detection. New insights from big data improve the understanding of customer behaviors and help banks to create better and more customized products and services.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Big data analytics is another technology that fintechs have to consider in oredr to manage the important number of customers and data they have.
  • AI helps banks to analyze their Big Data to improve existing solutions and make better decisions. A more recent AI trend is to use its cognitive abilities to go through a large amount of unstructured text and data to generate more insights and to learn natural language. A more intelligent AI chatbot or virtual assistant can take over repetitive “low-value” operations, such as performing small amount transactions, explaining financial products and providing basic financial advice to customers.
  • mohammed_ab on 13 Feb 21
     
    Artificial Intelligence is a great technology that fintech like M-Pesa has to consider as it could have a big impact on their operations. It could help the company to deal with and analyze big data and generate insights that might have taken months to discover with traditional approaches.
nourserghini

The top five fintech technologies disrupting banking | Fraedom - 0 views

www.fraedom.com/...echnologies-disrupting-banking

Fintech Data Analysis Strategy

shared by nourserghini on 13 Feb 21 - No Cached
  • Smart data discovery According to research analyst firm Gartner, smart data discovery will accelerate business intelligence capabilities and enable a new generation of data-driven decision making. For banks, this will mean a more accurate understanding of their customers, but also the ability for all employees, not just data scientists to make sense of the data.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Fintechs should also consider data discovery while making important decisions as this strategy will allow them to make more accurate data-driven decisions.
samielbaqqali

MTN apologises to its customers over new data bundles challenges [ARTICLE] - Pulse Ghana - 3 views

www.pulse.com.gh/...17xnm41

MTN Customers Wallets

shared by samielbaqqali on 12 Feb 21 - No Cached
  • Most Ghanaians who use MTN have said that hours after the country’s largest mobile network operator introduced new data packages they were unable to purchase data bundles.
  • MTN Ghana has apologized to its customers who are facing challenges as they try to purchase data bundles.
  • MTN has experienced some challenges on some of our channels post-implementation of the adjustment of prices and our new data bundles.”
  • ...2 more annotations...
  • MTN Ghana injects $160 million in improving network technology after coming under fire for poor services Most Ghanaians who use MTN have said that hours after the country’s largest mobile network operator introduced new data packages they were unable to purchase data bundles.
  • Some customers of the company complained on social media about the difficulties they are facing in purchasing data packages using their mobile money wallets.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      MTN needs to be aware of issues of this nature. They have to ensure that everything functions well when launching a new package, because when you are the leading company, customers demand the best possible service.
  • hichamachir on 12 Feb 21
     
    MTN needs to be aware of this kind of problems. They've to make sure when launching a new package, everything is working perfectly because when you're the leader company, customers expect the best service possible.
  • hindelquarrouti on 13 Feb 21
     
    MTN made a good move by maintaining its contact with its customers, because after all the challenges and problems in its platform, there is a high risk that it will loose its customers' trust.
  • mohammed_ab on 13 Feb 21
     
    MTN is the number one telecommunication company in Africa by offering the best service to its customers. Facing such issues could impact customer loyalty and the brand image of the company.
hibaerrai

Niche Market: What Is It? - 0 views

www.thebalancesmb.com/efinition-for-business-2947188

Fintech Strategy Niche Digital Target

shared by hibaerrai on 13 Feb 21 - No Cached
  • A niche market is a segment of a larger market that has its own demands and preferences. Companies focus on niche markets to better cater to a specific consumer than competitors who target a broad audience. Catering to the unique demands that mainstream providers aren't addressing, businesses pursue niche markets to build loyalty and revenue with a largely-overlooked audience. For example, rather than offering a general cleaning service, an entrepreneur might pursue a niche by offering floor polishing services exclusively. Another business in the same city might occupy a separate niche, specializing in solely biodegradable cleaning products. 
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Niche strategy: Helps knowing exactly what customers and what services we are dealing with for better decision making.
kenza_abdelhaq

Peer-to-Peer Lending: Best Websites of February 2021 - 0 views

www.investopedia.com/...eertopeer-lending-websites.asp

Fintech Strategy Peer-to-Peer Lending Lending

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • If you can’t or don’t want to borrow money from a brick-and-mortar bank or a conventional online lender, peer-to-peer (P2P) lending is an option worth exploring. P2P lending works differently from the financing you may have received in the past. You are not borrowing from a financial institution but rather from an individual or group of individuals who are willing to loan money to qualified applicants. P2P lending websites connect borrowers directly to investors, as these lenders are called. Each website sets the rates and the terms (sometimes with investor input) and enables the transaction. P2P has only existed since 2005, but the crowd of competing sites is already considerable. While they all operate the same basic way, they vary quite a bit in their eligibility criteria, loan rates, amounts, and tenures, as well as their target clientele. To jump-start your search, we scoured the online P2P marketplace and came up with these top six platforms, depending on your exact financial situation.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      P2P lending could be a strategy pursued by the eligible fintech companies that we have this semester. P2P lending means that the company would not be borrowing money from a financial institution but rather from an individual or group of people that are willing to lend money to qualified applicants/organizations. This article enumerates the most prominent platforms for P2P lending.
  • Types of Loans Available Through Peer-to-Peer Lending P2P loans can be used for many of the same purposes as personal loans. Here are a few of the loan types you may find on popular P2P websites.  Personal LoansHome Improvement LoansAuto LoansStudent LoansMedical LoansBusiness Loans
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      If a company does not want to borrow from conventional banks or a fintech company want to offer this service, Peer-to-Peer lending is a great alternative.
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.
mbellakbail69

Fawry | IBM - 3 views

www.ibm.com/...ware-flashsystem-power-systems

shared by mbellakbail69 on 07 Feb 21 - No Cached
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
  • The technology offers data compression and deduplication features that enable Fawry to boost utilization of storage resources. Abbas adds: “IBM FlashSystem A9000R offers much greater performance than our previous storage platform, meaning that we get both optimized data economics and short response times. We were able to achieve a seamless migration to the new platform with zero downtime.”
  • Each day, Fawry processes 2 million financial transactions, giving Egyptians an easy, secure payment alternative to the complex, time-consuming procedures that are the norm. To help grow customer satisfaction and speed the roll-out of new services, Fawry deployed IBM® Storage, IBM Db2® and Oracle database on IBM Power Systems™ solutions.
  • ...6 more annotations...
  • With a population of over 100 million people, Egypt is a land of opportunity for consumer services providers. In a country where payment procedures are often slow, fragmented and complex, Fawry identified a gap in the market for a simple, secure omnichannel payment gateway.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the need that Fawry was created to tackle and the market gap that it saw as an opportunity to prosper. It is very important to understand the core problem around which Fawry services were designed, in order to be able to design and develop strategies that are faithful to this same goal.
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Fawry strives to make the life of their customer simpler. They have an e-commerce solution that links sellers to buyers that provide different methods of payment.
  • Fawry Putting Egypt on the global digital payments map
  • The company’s success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry focuses on fast and dependable services based on innovation. The company also works on making better use of the data collected to make informed decisions; while keeping in mind the importance of a good technology infrastructure ready for the implementation of any new phase.
  • Haytham Abbas, Infrastructure Director at Fawry, picks up the story: “When we launched in 2008, the average household had to deal with around 13 separate utility and service providers. Since they typically had to set up payments with each service provider separately, often by visiting a branch, this was a lot of hassle. We created an omnichannel digital payment network to make life easier for consumers and the businesses that serve them.”
  • Fawry has a long history with IBM, having chosen IBM solutions to underpin its business again and again over the last decade. The company relies on both IBM Db2 and Oracle database software running on IBM Power Systems to support its bespoke electronic financial platform, processing 2 million transactions per day. “Together, IBM Db2, Oracle database and IBM Power Systems solutions give us the ability to process huge transaction volumes,” comments Abbas. “They provide a powerful foundation for our business, and have scaled seamlessly as we’ve grown.”
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      To ensure that it selected the best offerings on the market for its latest refresh, the company's IT team undertook a thorough evaluation of storage and server options from multiple vendors.
  • chaimaa-rachid on 07 Feb 21
     
    Fawry aims to make their client's life easier. They have an e-commerce solution that connects sellers with buyers offering various payment methods.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    The success of the compnay relies on its partnerships. Fawry's partnership with IBM is brilliant because IBM can offer Fawry some advanced technology that can help improve the business.
  • hindelquarrouti on 13 Feb 21
     
    Fawri is a secure alternative to the traditional procedures. It is user friendly and Egiptians are benefiting from it.
  • kenza_abdelhaq on 13 Feb 21
     
    "The company's success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution."
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.
  • 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
  • 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
  • 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.
hindelquarrouti

Full article: Institutional entrepreneurship and social innovation at the base of the p... - 1 views

www.tandfonline.com/...13662716.2017.1409104

M-PESA Strategy fintech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • M-Pesa development, and the strategies employed to engage with different actors in the financial services sector. Purposive theoretical sampling strategy (Strauss 1987Strauss, Anselm L. 1987. Qualitative Analysis for Social Scientists. Cambridge: Cambridge University Press.10.1017/CBO9780511557842 [Crossref], [Google Scholar]) was used to identify relevant sources of data both for the secondary data collection process and identification of informants for the interviews.
  • hindelquarrouti on 13 Feb 21
     
    In M-pesa, the strategy was implemented for the identification of relevant sources of data.
mbellakbail69

Digital Payments Firm Strikes Gold in Egypt, Where Cash Is King - Bloomberg - 0 views

www.bloomberg.com/...ld-in-egypt-where-cash-is-king

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • An Egyptian digital payments firm has quadrupled in value during the pandemic, helped by a government push to reduce citizens’ heavy reliance on cash. Investors and analysts are split on whether the stock rally has further legs.
  • A 300% rally from a mid-March low has boosted its market value to 20 billion Egyptian pounds ($1.3 billion). That puts Fawry among the country’s 10 most valuable companies alongside firms such as Telecom Egypt Co. and Elswedy Electric Co., which generate many times more revenue and profit.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      In addition to the opportunity the Covid-19 crisis has created to Fintech companies such as Fawry, The North African nation's central bank asking lenders to find a way to make sure all citizens have access to financial services, focusing on digital payments and mobile wallets, is also one of the main reasons behind the rise in the company's valuation as it resulted in its services being needed more than ever before.
  • Egypt, where it’s common for government employees to ring doorbells to collect cash payments for gas and electricity bills, is trying to shift more transactions digital. The North African nation’s central bank has asked lenders to set a strategy to ensure all citizens have access to financial services, focusing on digital payments and mobile wallets. The regulator is also pushing consumers to use payment platforms such as Fawry in an attempt to curb the spread of the new coronavirus.#lazy-img-364482620:before{padding-top:56.25%;}
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects how the Egyptian government and central bank contributed to the prosperity of Fawry during the covid-19 pandemic.
  • ...1 more annotation...
  • The National Bank of Egypt is looking to buy stakes in Aman, Raya Holding for Financial Investments’ e-payment subsidiary, which was planned to IPO in three years, the local business newspaper Al Mal reported in 2019. MM Group for Industry & International Trade SAE is also planning to begin procedures to list non-banking investments firm Ebtikar next year, according to Daily News Egypt.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      All the same, Fawry's surging stock price may encourage further investment in Egypt's e-payment sector.
  • hichamachir on 12 Feb 21
     
    I believe that digitalization helped many companies to boost their profits during the pandemic. Fawry's is the leading Fintech company in Egypt and the pandemic served this company very well.
  • nouhaila_zaki on 13 Feb 21
     
    "Egypt, where it's common for government employees to ring doorbells to collect cash payments for gas and electricity bills, is trying to shift more transactions digital. The North African nation's central bank has asked lenders to set a strategy to ensure all citizens have access to financial services, focusing on digital payments and mobile wallets. The regulator is also pushing consumers to use payment platforms such as Fawry in an attempt to curb the spread of the new coronavirus."
nouhaila_zaki

What Is a Robo-Advisor? - 0 views

www.investopedia.com/...roboadvisor-roboadviser.asp

Robo-Advising Drawbacks Fintech Strategy

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • Shortcomings of Robo-Advisors The entry of robo-advisors has broken down some of the traditional barriers between the financial services world and average consumers. Because of these online platforms, sound financial planning is now accessible to everyone, not just high-net-worth individuals. Still, many in the industry have doubts about the viability of robos as a one-size-fits-all solution to wealth management. Given the relative nascency of their technological capabilities and minimal human presence, robo-advisors have been criticized for lacking in empathy and sophistication. They are good entry-level tools for people with small accounts and limited investment experience, namely millennials, but are far from sufficient for those who need advanced services like estate planning, complicated tax management, trust fund administration, and retirement planning. Automated services are also ill-equipped to deal with unexpected crises or extraordinary situations. For instance, if a young person's parents passed away and he/she receives an inheritance, going online to a robo-advisor to manage the money is probably not the optimal decision. In fact, a study conducted by Investopedia and the Financial Planning Association found that consumers prefer a combination of human and technological guidance, especially when times are rough. According to the report, 40% of participants said they would not be comfortable using an automated investing platform during extreme market volatility. Furthermore, robo-advisors operate on the assumption that clients have defined goals and a clear understanding of their financial circumstances, to begin with. For many, that is not the case. Answering questions like, "Is your risk tolerance low, moderate, or high?" presupposes the user has a fundamental knowledge of investment concepts and the real-life implications of each option they choose.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This article does a great job at introducing the limits of Robo-advisors: - the one-solution fits all to wealth management proposed by Robo-advisors does not account for extraordinary situations and unexpected crises. - people do not trust a robot to make life-changing huge decisions, especially when times are rough and market volatility is extreme. - Robo-advisors assume that clients have defined goals and a clear understanding of their financial circumstances, which is not always the case.
mehdi-ezzaoui

The promise of unicorns | fDi Intelligence - Your source for foreign direct investment ... - 1 views

www.fdiintelligence.com/...79143

FAWRY Fintech Egypt e-payments

shared by mehdi-ezzaoui on 12 Feb 21 - No Cached
  • Although Fawry, Egypt’s top e-payment platform and leading fintech, became Africa’s latest ‘unicorn’ this year via a listing on an African bourse, it will not be the last to emerge from the country’s burgeoning tech scene, according to the International Finance Corporation (IFC). “Egypt will produce further unicorns one day, absolutely,” says Walid Labadi, the IFC’s country manager for Egypt, Libya and Yemen. “We fundamentally believe in the power of the entrepreneurial spirit and its ability to address fundamental market needs, which will eventually create significant economic value and can become a driver for creating future entrepreneurs. Advertisement
  • Founded in 2008 by Ashraf Sabry and Mohamed Okasha, the company listed on the country’s main bourse, the Egyptian Exchange, in August 2019 and was valued at $275m. However, at the start of October this year, its valuation surpassed more than $1bn.It is the third African start-up to reach unicorn status and the first one to do so after going public on an African stock exchange.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Fawry paved the way for other Egyptian companies and became a leading example to them just like Jumia, the first unicorn out of Africa, was for african companies.
  • Fawry offers an online payment gateway for business owners to transact with customers via cash, credit cards and e-wallets. It has helped to transform the Egyptian economy by reducing the reliance on cash, lowering costs and offering a more convenient way to pay. Its good fortune is partly due to the Covid-19 pandemic that prompted many people to place a high demand on its e-payment solutions. Its revenue for the first nine months of 2020 surged to E£892m ($57m), a 45% jump on the same period last year. 
  • hichamachir on 12 Feb 21
     
    Competition can be a problem for Fawry in the future. The world is heading towards digitalization and will create many opportunities for other companies. I suggest for Fawry to build a strategy that treat the future of digitalization in order to be always the top company in Egypt.
  • mehdi-ezzaoui on 13 Feb 21
     
    Fawry offers an online payment gateway for business owners to transact with customers via cash, credit cards and e-wallets. It has helped to transform the Egyptian economy by reducing the reliance on cash, lowering costs and offering a more convenient way to pay
hibaerrai

RegTech Definition - 0 views

www.investopedia.com/...regtech.asp

Fintech Strategy Regtech Digital Regulations

shared by hibaerrai on 13 Feb 21 - No Cached
  • Regtech is the management of regulatory processes within the financial industry through technology. The main functions of regtech include regulatory monitoring, reporting, and compliance. Regtech, or RegTech, consists of a group of companies that use cloud computing technology through software-as-a-service (SaaS) to help businesses comply with regulations efficiently and less expensively. Regtech is also known as regulatory technology. Financial institutions and regulators both use Regtech to deal with complicated compliance processes.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Employing regtech strategy to monitor, regulate and comply all fintech related processes and activities .
samielbaqqali

Improved ICT infrastructure in Ghana raises data penetration | Ghana 2018 | Oxford Busi... - 0 views

oxfordbusinessgroup.com/...on-rates-and-usage-next-agenda

MTN E-Commerce Money

shared by samielbaqqali on 12 Feb 21 - No Cached
  • In 2017 MTN Ghana – the local subsidiary of the South African mobile operator, and the market leader – redefined what constitutes a subscriber, removing 3.4m inactive lines from its network in the first quarter of the year. However, in the same quarter the company gained more than 800,000 new active customers. The net effect was a drop of 2.5m in its subscriber base, leaving it with 16.9m voice subscribers, according to the NCA.
  • MTN Ghana holds the largest market share. As of April 2017 it had a 56.1% share of mobile data services and 46.9% of voice. It also held 59.7% of broadband wireless access through its 4G services.
  • The firm saw revenue growth of 19.8% in 2016 on the back of its strong performance in the data segment. According to the company’s financial results, data revenue increased by 66% and accounted for 42% of total revenue in 2016 on the back of the launch of a 4G network.
  • ...1 more annotation...
  • This led to a drop in the overall mobile penetration rate in Ghana. It fell from 139% in February 2017 to 127% at the end of April. However, the country has actually seen a slight increase in the number of customers. In 2016 monthly mobile subscription growth ranged from 0.22% to 1.51%, and in March 2017 the segment was growing at a rate of 0.57%. The sluggishness is a result of the fact that the voice segment is saturated, but there is still room for expansion and building revenues in data services. Data
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      Businesses that are constantly planning a way to better their company will always find new ways of making decisions. You only need to pursue a certain methodology that needs a full analysis of the market or the segments of the consumer.
  • hichamachir on 12 Feb 21
     
    As you can see, MTN is always taking crucial decisions. I think that companies that always plan a way to improve their business can always find innovative ways to take decision. You just need to follow a certain strategy that requires a full study of the market or the customer segments.
  • hindelquarrouti on 13 Feb 21
     
    MTN and Ayo engaged in a partnership in order to launch an insurance on mobile money transfer. It was called "send with care" which allowed clients to pay premiums that would cover them in some determined situations.
mehdi-ezzaoui

The Most Effective Marketing Strategy Used by FinTech Companies - 0 views

contentcapitalonline.com/tegy-used-by-fintech-companies

Fintech strategies banking

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • PROMOTE Find the most effective channel for your niche In consideration of some financial constraints, fintech companies must distribute their content in the channel where they’ll reach their target audience – and this may not necessarily be the most popular channel. For example, Facebook may have 2.3 billion active users but most of your customers might be a certain type of professional who mostly hang out on LinkedIn, then that may be the best channel for you. Some fintech companies find traction in Reddit, while others are big on Telegram. Find an online space where most of your customers go to seek solutions and tailor your content to reach them.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula operates in a niche market. I suggest that Pula creates a platform where it customers can share their experiences or suggestions.
  • A study shows that 80% of decision makers prefer to gather information about a company via articles than make their purchase decisions based on advertisement and marketing materials. It’s clear. The most effective marketing strategy used by fintech companies is content marketing. By allocating significant efforts in creating, publishing and distributing digital content tailored to a specific market or audience, customers, as well as bottom line, are served well.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Because when a want to do a research about a company he doesn't focus on marketing materials mainly because they are not used to it or because there some internet adverts that are not reliable. That s why as a fintech company they really should put an effort into the design and plan a marketing strategy
  • Most fintech companies get the biggest bunch of their sales from the internet. This is because the first thing people do when they need to find out more information about a finance product or service is to search for solution providers online. For this reason, every fintech company needs to have a robust online presence. When buyers start researching, their first aim is to gather information. They don’t necessarily focus on your marketing materials because there are lots of adverts on the internet, which aren’t always reliable
    • ghtazi
      ghtazi on 13 Feb 21
       
      Many fintech firms get the largest amount of their income from the internet. This is because looking for solution providers online is the first thing individuals do when they need to find out more detail about a financial product or service. Every fintech business needs to have a robust online presence for this purpose. When buyers start investigating, their first objective is to collect data. Since there are tons of ads on the internet, they don't always rely on your publicity materials, which are not always accurate.
  • ...1 more annotation...
  • A study shows that 80% of decision makers prefer to gather information about a company via articles than make their purchase decisions based on advertisement and marketing materials.
  • mehdi-ezzaoui on 13 Feb 21
     
    effective strategies used by fintech companies could be helpful
mohammed_ab

How can AI facilitate fintech algorithms to manage your finances? | by Shadeeb Hossain ... - 0 views

towardsdatascience.com/age-your-finances-2c11a1afec74

Fintech Strategy Artificial Inteligence M-Pesa

shared by mohammed_ab on 13 Feb 21 - No Cached
  • AI algorithm can play predictive roles to improve asset management among individuals or large corporations. It can keep track of notable and recurring expenditure that are responsible for increasing client’s debt portfolio. Financial data management is crucial to predict the future of the economy. AI algorithm can process these large financial data through smart programming and predict client investment strategies. Also these data can be used to predict fraudulent activities.
  • mohammed_ab on 13 Feb 21
     
    M-Pesa can use Artificial Intelligence in order to reduce the cost of data management and also you can use AI to present your different product offerings with no need of investing too much in human labor.
hibaerrai

New strategies in banking and fintech for 2020s | by Anton Verkhovodov | Medium - 0 views

medium.com/...fintech-for-2020s-6ed2d8b6f0b6

Fintech Strategy Neobanks Digital Regulations

shared by hibaerrai on 13 Feb 21 - No Cached
  • Neobanks emerged — young banks licensed (often from a traditional institution) and a modern core banking system that allowed them to operate and scale faster while spending much less on customer service. Neobanks started to grow like startups — building only relevant products, nailing marketing. The rebundling phase was under way.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fintech strategy: Rebundling of the banking industry
  • The next wave currently underway is niche fintech. Due to a dramatic reduction in the cost of launching technology startups (500 times in 20 years), focusing on product group for very specific user personas (teens, retirees, SMEs) became possible. Thanks to their precise relevance, these fintechs enjoy higher customer loyalty and satisfaction.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fintech strategy: Niche Fintech. Concentrate on one product or product group and one specific type of users. (Agritech)
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