Group items tagged

Since its inception, about 7.5 million customers have used the platform to either save or source credit. Of this number, about 75% are small business owners. All eyes will be watching to see what big deals come next this year for Jumo.

Jumo facilitates digital financial services such as credit and savings in emerging markets. The startup, founded in 2014 by Watkins-Ball is already active in seven African countries — South Africa, Ghana, Kenya, Rwanda, Uganda, Tanzania and Zambia, as well as in Pakistan and Singapore.

Last year, the Cape Town-based fintech startup became the first South African startup to be selected by Google for its Launchpad accelerator. Since its inception in January 2015 to April 2017, the company has grown from just seven to 300 employees.

In addition to the validated farm-level data collected through the app, FarmDrive also collects big data from satellite companies, weather stations, government agencies, and more. Using these aggregated data, the model generates credit scores and provides automated decisioning tools that enable financial institutions to develop loan products that fit the economic and agronomic needs of smallholder farmers.

In 2016 FarmDrive completed the initial phase of product-market fit in partnership with a Kenyan MFI. Through this pilot over KES 15 mil (USD 150,000) in loans were disbursed throughout 16 counties in Kenya. The pilot served as a proof point that better risk assessment can unlock capital for smallholder farmers, and informs the product development we’re doing today to drive more capital to farmers

The company is keen to work with companies specialising in the financial technology (fintech) solutions field, to contribute to the development of the Egyptian capital market sector.The most prominent of these partnerships includes a contract with the Egyptian Company for Information Dissemination (EGID).

Startup and equities trading platform, Thndr Securities Brokerage, has obtained approval from Egypt’s Financial Regulatory Authority (FRA) to practice securities brokerage activities.Thndr is the first company in the Middle East to announce the provision of a zero commission on securities trading service.Its activities take place through an advanced electronic platform that enables dealers in the Egyptian Exchange (EGX) to view the latest developments and indicators at zero cost.

The company is keen to work with companies specialising in the financial technology (fintech) solutions field, to contribute to the development of the Egyptian capital market sector. The most prominent of these partnerships includes a contract with the Egyptian Company for Information Dissemination (EGID). The latter company has been the approved authority for distributing information to EGX listed companies in the country for more than 20 years. “By using technology and introducing an easy-to-use application, we hope to remove all barriers users face, whether by making the account opening process easier or reducing costs,” said Saif Amr, co-founder of Thndr. He added, “We help companies by facilitating dealing in the Egyptian Stock Exchange, but we intend to offer other investment options soon to suit all segments.”

Fintech marketing is the sum of marketing techniques specifically tailored for financial technology (‘fintech’) companies. These companies are using new technologies to improve, and ultimately, automate, the delivery and use of financial services to consumers.

Financial services are rather dull, matter of fact aspects of our day to day life. In other words, dealing with personal finances is something we all have to do. But let’s be clear - no one will come to you with a big smile on their face and scream: “Oh my God, I had such an amazing experience opening a new savings account today.” That said, while financial technologies are boring, it doesn’t mean your marketing style should be boring as well.

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.

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.

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.

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.

With steady growth in our user base, we have been working hard over the past year in order to optimize and perfect our product and are now ready to begin our scaling journey. We will dedicate the money from this bridge round to raise greater awareness for MoneyFellows, in order to allow a much greater number of users to access our application and meet their saving and financial needs

MoneyFellows with its group pooling platform for credit and savings is digitizing the entire process of money circles with a scoring model that compliments current offline model, making it more scalable, safe and efficient.

Investment in financial technology (“Fintech”) companies is growing dramatically. Global Fintech funding has risen to over $100 billion, fueled by large M&A deals and large rounds of financing. Investment in Fintech companies is expected to continue to grow significantly in the next few years as such companies offer outsized growth opportunities.

Fawry, Egypt’s first and largest E-payment company in the Egyptian market signed an agreement to acquire a non-controlling interest in “Waffarha” is a platform that provides various offers and discount vouchers for B2B and B2C through its website and APPs on mobile devices.Tarek Magdy, CEO of Waffarha, said: “Waffarha” was launched 6 years ago as the only platform that provides offers ranging from 50% for B2B and B2C, with more than 1 million social media followers and more than 1000 commercial series.”And he pointed out that “Waffarha” provides many services as (restaurants, cafes, travel, health and beauty, entertainment, etc.). There are 250 thousand customers who have saved nearly 50 million EGP after using “Waffarha”. All offers starting from 50% include taxes and services, and can be paid in different ways by choosing “Fawry Pay” service, which allows customers to pay cash in more than 90 thousand stores of Fawry or by banks (credit cards or direct debit). In addition to paying with “PayPal” through Fawry Pay” Magdy added: “Waffarha” aims to reach its dealings to 150 million Egyptian pounds by 2020″.

Fawry, Egypt’s first and largest E-payment company in the Egyptian market signed an agreement to acquire a non-controlling interest in “Waffarha” is a platform that provides various offers and discount vouchers for B2B and B2C through its website and APPs on mobile devices.

“Fawry” took over “Waffarha” shares | Fawry

In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.

In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.

A quiet but exciting revolution in surgery has been gaining ground in hospitals in the more advanced nations of the world. Robots, controlled by highly trained operators, have been very effectively carrying out a multitude of operations. Could robot-assisted surgery be the solution Africa has been waiting for in order to be able to deal with the hugecurrent unmet demand?