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mohammed_ab

Electronic Transactions Reshape Egypt's Economy - 3 views

www.ifc.org/...egypt-digital-payments

Fawry Egypt Fintech Positive Impact Economy

shared by mohammed_ab on 11 Feb 21 - No Cached
  • The rise of online banking around the world has helped other economies solve these very challenges. Cash, for example, is hard to transport. Coins and bills are prone to theft, and their use makes dodging taxes easier for those so inclined. For individuals who must pay in person, getting across a gridlocked city like Cairo is logistically difficult. Together, these problems can constrain an economy. In Egypt, where 94 percent of all transactions were cash as recently as 2014, such a system stymies economic growth.
  • Fawry is part of a new wave of technology companies ushering Egypt into the digital age. Many of these firms are helping transform industries like banking, health care, and transport, and in the process creating good jobs for young Egyptians, more than 30 percent of whom are unemployed.
  • Sabry, a former salesperson at IBM Egypt, launched Fawry because he knew these issues kept Egypt’s economy from achieving its promise. The early years were lean as the company worked to convince tech-wary Egyptians that Fawry’s systems were secure—and that their money wouldn’t disappear into an electronic void.
  • ...6 more annotations...
  • “Time is of the essence, and Fawry saves me a lot of it,” says Shawky, who owns three electronics stores in the Egyptian capital.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry is available for its customers day and night which attracts a large range of people.
  • It was something that Cairo-based shop owner Nader Shawky had come to dread: paying his phone bill. Every month, he trekked to the offices of his mobile provider where he and dozens of others stood in line—sometimes for up to two hours—to settle their bills. It was, he admits, a maddening process.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      By providing online banking financial administrations that allow you to cover your bills, transfer cash, and access a record of your checking account transactions from your internet browser, Fawry makes the life of its clients less difficult. Banking from anywhere, at any time of day or night, makes it a little easier to do anything you do about your finances.
  • Fawry, a fast-growing Cairo-based company that specializes in electronic payments, makes it possible for Shawky to take care of his accounts online.
  • Fawry’s growth has had a profound effect on Egypt’s economy, says Akef el Maghrabi, the vice chairman of Banque Misr, one of Egypt’s biggest banks and an early Fawry partner. “When you eliminate or reduce the reliance on cash, then you fight corruption, you provide convenience, you lower costs, and you grow the economy. [Electronic payments] do a lot of good for the country.”
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      With a system that relies mainly on cash transactions, the economy faces too many challenges that stops its growth and development. For instance, cash is hard to transport, coins and bills can easily be stolen, and their use makes dodging taxes and corruption easier.
  • IFC invested $6 million in Fawry in 2013 and helped guide founder Ashraf Sabry and his team as they built their business. Now the 12-year-old company handles 2.5 million transactions a day. In 2018 Fawry processed 40 billion Egyptian pounds (about $2.5 billion) in electronic payments. Earlier in 2019, Fawry became Egypt’s largest financial technology firm to list on the national stock exchange. It now employs 1,600 people.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      By providing online banking financial administrations that allow you to cover your bills, transfer cash, and access a record of your checking account transactions from your internet browser, Fawry makes the life of its clients less difficult. Banking from anywhere, at any time of day or night, makes it a little easier to do anything you do about your finances.
  • As the Fawry network grew, shop owners who installed the system saw significant benefits, too. Fawry’s terminals drew new customers into stores, providing the consumer traffic that is the lifeblood of small shops. Mahmoud El Rawy, a grocery store owner and father of three, can attest to that. His shop struggled until he installed a Fawry payment terminal. “Fawry has had a big impact on my business,” says El Rawy, who now owns three supermarkets. “It helped bring me more customers and it’s why many come to me now.”
  • chaimaa-rachid on 11 Feb 21
     
    Fawry is making the life of its customers less difficult by offering online banking financial administrations that empower you to cover your bills, move cash, and access a record of your checking account transactions from your internet browser. Banking from anywhere, at any time of the day or night, makes all what you do with your finances somewhat simpler.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    Fintech is providing a very fast business and customer are really satisfied with it. I think that fast service is the main objective of Fintechs.
  • hindelquarrouti on 13 Feb 21
     
    Fawri is helping Egyptians in handling their bills online rather than spending hours on this kind of processes if done traditionally.
  • mohammed_ab on 13 Feb 21
     
    It's interesting to see that Fawry has a positive impact on its customers but also its business partners like small show owners.
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.
nouhaila_zaki

M-Pesa - Wikipedia - 0 views

en.wikipedia.org/M-Pesa

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 12 Feb 21 - No Cached
  • M-Pesa is a branchless banking service; M-Pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA is unique because it offers branchless banking which makes transactions more efficient.
  • It has since expanded to Tanzania, Mozambique, DRC, Lesotho, Ghana, Egypt, Afghanistan and South Africa. Meanwhile services in India, Romania, and Albania have been terminated amid low market uptake. M-Pesa allows users to deposit, withdraw, transfer money, pay for goods and services (Lipa na M-Pesa), access credit and savings, all with a mobile device.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      I like this excerpt because it describes where M-Pesa has successfully expanded and where the company's expansionist efforts failed.
  • M-Pesa is widely seen as demonstrating that it is possible to make a profit while also improving the lives of the poor.[28] Tavneet Suri, based at the Massachusetts Institute of Technology, and William Jack, based at Georgetown University have produced a series of papers extolling benefits of M-Pesa. In particular, their 2016 article published in "Science" has been very influential in the international development community. The much cited result of the paper was, that 'access to M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.[29] Global development institutions focusing on the development potential of financial technology frequently cite M-Pesa as a major success story in this respect, citing the poverty-reduction-claim and including a reference to Suri and Jack’s 2016 signature article. In a report on "Financing for Development", the United Nations write: "The digitalization of finance offers new possibilities for greater financial inclusion and alignment with the 2030 Agenda for Sustainable Development and implementation of the Social Development Goals. In Kenya, the expansion of mobile money lifted two per cent of households in the country above the poverty line."[30]
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reports on academic research describing how M-Pesa is the living example of how the search for profit is not antithetical to inclusion and improvement of lives of the poor. Using M-Pesa as a case study, several researchers praise fintech for its ability to offer greater financial inclusion.
mehdibella

FarmDrive LTD | F6S - 0 views

www.f6s.com/farmdriveltd

Fintech Farmdrive kenya

shared by mehdibella on 07 Feb 21 - No Cached
  • FarmDrive is a tech-driven social enterprise working at the intersection of technology, agriculture and finance. FarmDrive is improving the livelihoods of smallholder farmers in Africa by using new technology and alternative data to increase availability of capital; mitigating both financial and operational risks while creating shared value for other players in the value chain.
    • hibaerrai
      hibaerrai on 07 Feb 21
       
      FarmDrive gives the opportunity to smallholder farmers to extract loans and have access to different financial services to manage their small businesses.
  • FarmDrive understands smallholder farmers uniquely through dynamic datasets and translates this to financial institutions. More than 50 million smallholder farmers in Africa are struggling to make a living due to lack of capital to improve their farming activities.
  • FarmDrive has developed a platform that gathers data on smallholder farmers both from the ‘ground’ and ‘data from the sky’. FarmDrive uses sophisticated algorithms to turn that data into comprehensive credit profiles of “unbanked and underbanked” smallholders who have little access to credit.
    • mehdibella
      mehdibella on 13 Feb 21
       
      this solution is a catalyst to reduce the operational costs while increasing operational efficiencies. The platform allows them to do so by using modern technology, and an immense amount of data captured by the solution interfaces.
  • ...1 more annotation...
  • The solution is a catalyst to reduce the operational costs while increasing operational efficiencies. Whether credit providers are seeking to better minimize their credit risk exposure, digitize their loan application processes, or streamline their new client outreach, the FarmDrive platform allows them to do so by using world-class algorithms, modern technology, and an immense amount of data captured by the solution interfaces.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      FarmDrive solution presents a win-win situation for both financial and credit institutions and farmers; from mitigating risk to having access to financing and increasing performance and operational efficiency.
  • kenza_abdelhaq on 13 Feb 21
     
    "The solution is a catalyst to reduce the operational costs while increasing operational efficiencies. Whether credit providers are seeking to better minimize their credit risk exposure, digitize their loan application processes, or streamline their new client outreach, the FarmDrive platform allows them to do so by using world-class algorithms, modern technology, and an immense amount of data captured by the solution interfaces."
mbellakbail69

JUMO wins UNCDF's Sprint4Women Design Competition in Zambia - UN Capital Development Fu... - 0 views

www.uncdf.org/...n-design-competition-in-zambia

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • UN Capital Development Fund (UNCDF) is pleased to announce that JUMO has won their Sprint4Women Design Competition for women’s financial inclusion in Zambia. JUMO was one of three finalists competing for a grant to roll-out digital financial services (DFS) solutions for the rural women of Zambia, alongside Fenix Zambia and Hobbiton Investments.
  • JUMO wins UNCDF’s Sprint4Women Design Competition in Zambia - UN Capital Development Fund (UNCDF)
  • JUMO’s experience and expertise will help extend access to credit and savings so that women in Zambia can grow their businesses or save towards essential lump-sum payments, such as school fees.
  • ...4 more annotations...
  • JUMO partners with forward-thinking funding and data/distribution partners to deliver digital financial services and will be working with Absa Bank Zambia PLC and MTN Zambia to provide these improvements.
    • mehdibella
      mehdibella on 13 Feb 21
       
      Jumo won many awards all over the worlds and grants that will help it as a company to grow and expand its business into other countries
  • Jumo scored highest of the three companies and will be awarded a $85,000 grant once the UNCDF grant review process is completed.
  • As one of the first providers of non-collateral-based, digital lending products that can make funds available in minutes, JUMO’s experience and expertise will help extend access to credit and savings so that women in Zambia can grow their businesses or save towards essential lump-sum payments, such as school fees.
  • To win the competition, the companies needed to demonstrate: that their product fits the needs of rural women, how they would increase the number of women customers signing up for and using DFS, and that the company could scale their product to at least 30,000 new customers, with at least 60% of them being women.
  • hichamachir on 12 Feb 21
     
    JUMO's social work is a brilliant idea because it's a key to win customers heart. Also, expanding to other African countries with the idea of improving their lifestyle can only be beneficial for the company because people of that country are going to spread positive word of mouth about the company.
  • mohammed_ab on 13 Feb 21
     
    I like how JUMO is helping businesswomen in Zambia to access lending products to run their business. Women suffer a lot from the lack of financial inclusion, and with JUMO, we can fight this phenomenon.
mbellakbail69

JUMO Joins Leading Global Tech Startups In Google Launchpad Studio - Heavy Chef - 0 views

www.heavychef.com/...ups-in-google-launchpad-studio

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • We are honoured to have the opportunity to collaborate with some of the leading minds in AI and ML to accelerate the extension of financial services to the billions of un(der)-served people in the world. We’re at a critical point in our business where we are focused on leveraging the latest technology to increase customer eligibility and decrease unequal access to quality financial products in emerging markets.” JUMO founder and CEO Andrew Watkins-Ball 
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      JUMO, a financial technology platform connecting underserved markets with financial services joins a cohort of companies from across nine countries and four continents, including Indonesia's billion-dollar unicorn startup Go-Jek and Starling Bank
mehdibella

The Financial Regulatory Authority agrees on delivering "Qershak el Abyad" insurance po... - 0 views

fawry.com/ance-policy-through-e-channels

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Fawry Insurance Brokerage partners with AIG Egypt Insurance Company to launch the digital insurance policy “Qershak el Abyad” through 166,500 Fawry outlets and e-wallets, allowing the insurance policy for more than 30 million Egyptian Fawry users throughout Egypt. The policy provides 75k EGP insurance coverage upon accidents of the candidate, with a monthly premium starting at 10 EGP.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Another remarkable feature in Fawry cooperate, is that it provide insurance coverage along with other services. It allows more than 30 Million Egyptian to benefit from an insurance policy with a reasonable monthly premium. I really appreciated the fact that in case of accidents, Fawry help the beneficiaries to cover their children's education expenses upon death or total disability as well as recovery expenses.It is a very thoughtful initiative.
  • The Financial Regulatory Authority agrees on delivering "Qershak el Abyad" insurance policy through e-channels - Fawry
  • “Fawry Insurance Brokerage, a subsidiary of Fawry, will play a genuine role in marketing and selling the insurance policies of “Qershak el Abyad” program to millions of Egyptians and payments will be available through more than 166,500 Fawry machines and through e-wallets, so that customers will receive their policies electronically on mobile phones easily, this in cooperation with AIG Egypt Insurance Company, in a step that enhances financial inclusion in Egypt according to the plans and directives of the Egyptian government.”
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
ghtazi

Invest Mobile | Seedstars World - 0 views

www.seedstarsworld.com/...48932

InvestMobile Money Application

shared by ghtazi on 27 Feb 21 - No Cached
  • Our Story We help our clients automatically invest into the financial market either daily, weekly or monthly without ever needing to go to a bank What problem are we solving 70% of the Africans have no access to a formal financial institution, 92% have no access to investment accounts How are we impacting the world Our solution helps our clients build a sound financial future by investing from their mobile phone with or without an internet connection
    • ghtazi
      ghtazi on 27 Feb 21
       
      what Invest Mobile aims to do
ghtazi

About Us - cassava fintech - 1 views

www.cassavafintech.com/about-us

Fintech E-payments Digital Banking E-payment

shared by ghtazi on 08 Feb 21 - No Cached
  • Cassava FinTech is a pan-African business using an integrated model to drive financial inclusion and digital transactions across the continent. Our core operations in Mobile Money, Social Payments Services, Digital Banking, International Remittances and Mobile Micro Insurance with presence in Zimbabwe, South Africa, Burundi, Lesotho and UK and partnerships in other African countries
    • ghtazi
      ghtazi on 08 Feb 21
       
      Cassava fintech is a Pan-African business, they try to use an integrated model to accelerate the continent's financial inclusion and digital transactions. the company has many innovative digital solutions: such as mobile money, social payments, payments services, digital banking, micro insurance, sasai.
  • hibaerrai on 08 Feb 21
     
    Financial inclusion is indeed the main aim of Cassava FinTech.
hindelquarrouti

World Bank Document - 1 views

openknowledge.worldbank.org/...tion-in-Financial-Services.pdf

WorldCover Financial Risk Climate change

shared by hindelquarrouti on 10 Feb 21 - No Cached
  • hindelquarrouti on 10 Feb 21
     
    Thanks to the help of artificial intelligence, WorldCover tries to manage the financial risks that are related to changes in the climate. As well as, it helps mane the risks related to unpredictable natural disasters.
kenza_abdelhaq

Dubai fintech Tpay Mobile acquires Turkish payments company Payguru - 0 views

www.menabytes.com/tpay-mobile-payguru

TPay Mobile Algeria Acquisitions

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Founded in 2014 as the first open mobile payment platform of the region, Tpay Mobile was acquired by leading African private investment firm Helios Investment Partner. The firm had acquired a 76 percent stake in Tpay Mobile in 2018, creating a dragon exit for A15, the firm that had founded it. Tpay has previously also acquired its Cairo-based rival DCBEgypt in 2017. Sahar Salama, Founder and Chief Executive Officer of Tpay Mobile, said, “Tpay Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.”
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Four years after its creation, Tpay Mobile was acquired by Helios Investment Partner firm. To eliminate its competition, position its self as the leading digital payment platform in the MEA region and offer diverse and innovative services to their customers, Tpay Mobile acquired Cairo based rival DCBEgypt in 2017 and Payguru in 2020.
  • kenza_abdelhaq on 12 Feb 21
     
    "Founded in 2014 as the first open mobile payment platform of the region, Tpay Mobile was acquired by leading African private investment firm Helios Investment Partner. The firm had acquired a 76 percent stake in Tpay Mobile in 2018, creating a dragon exit for A15, the firm that had founded it. Tpay has previously also acquired its Cairo-based rival DCBEgypt in 2017. Sahar Salama, Founder and Chief Executive Officer of Tpay Mobile, said, "Tpay Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.""
hindelquarrouti

Kenya Case Study Part I: M-PESA story - 0 views

www.finextra.com/...case-study-part-i-m-pesa-story

M-pesa fintech success

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • M-PESA was cheaper than banks, and safer and more convenient than handling cash. The financial inclusion driven by M-PESA has greatly led to the growth of Kenya’s digital economy.
  • M-PESA”: that is a name in global fintech history that can never be erased. Not that anybody would want to. Forever it will be the perfect example of a viable financial ecosystem based on rules unthinkable before
  • chaimaa-rachid on 12 Feb 21
     
    M-Pesa reformed the Kenyan economy and assumed a significant role in the evolution of the financial industry in Kenya.
  • hindelquarrouti on 13 Feb 21
     
    M-pesa is the perfect example of a company that was based on rules that were unthinkable before. It has established itself in the market by being cheaper than ordinary banks and by being better than handling actual cash.
mehdibella

SnapScan: innovative system of payment / News / Std bank - Standard Bank Moça... - 0 views

www.standardbank.co.mz/...n-innovative-system-of-payment

Fintech finance SouthAfrica snapscan

shared by mehdibella on 13 Feb 21 - No Cached
  • “The introduction of these two electronic platforms is in response to the Central Bank’s challenges of financial inclusion of the citizens. The USSD and the SnapScan, which are in the testing phase, will allow people from remote locations, even without bank branches, to perform fast and safe operations”, said the Managing Director from Standard Bank.With these two platforms, as mentioned, Standard Bank also intends to boost the migration of banking transactions from branches to electronic platforms, making the bank more accessible, in a quick, convenient and safe manner from anywhere, anytime.
    • samiatazi
      samiatazi on 13 Feb 21
       
      The manager of The standard bank here highlights the importance of digital transformation of the banking system using financial technologies and its positive benefits on the customer.
  • With these two platforms, as mentioned, Standard Bank also intends to boost the migration of banking transactions from branches to electronic platforms, making the bank more accessible, in a quick, convenient and safe manner from anywhere, anytime.
  • “The introduction of these two electronic platforms is in response to the Central Bank’s challenges of financial inclusion of the citizens. The USSD and the SnapScan, which are in the testing phase, will allow people from remote locations, even without bank branches, to perform fast and safe operations”, said the Managing Director from Standard Bank.
hibaerrai

How we keep your data and money safe | Know your customer - 0 views

www.worldremit.com/...kyc

WorldRemit Remittance E-payments Data Security

shared by hibaerrai on 13 Feb 21 - No Cached
  • “Know Your Customer” - or KYC - is a verification process in the financial industry. If you have ever opened a bank account or applied for insurance, then you have been a subject to KYC checks. All regulated financial companies are responsible for building their KYC checks based on global and national anti-money laundering standards. This way, companies can make sure that it’s a suitable verification process for their customers, services and industry. If customers can’t provide any formal identification, or if it is difficult to authenticate it, companies can’t easily identify them and offer them their services. 
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      WorldRemit obviously takes data privacy seriously and it employs the KYC model to make sure that their customers meet the requirements to use these financial services. It is important to use the appropriate security measures in order to establish a safer platform.
samielbaqqali

Visa Partners With Zeepay; Drives Financial Inclusion Across Ghana & Africa - NextBillion - 0 views

nextbillion.net/...-inclusion-across-ghana-africa

Zeepay Partnership Visa

shared by samielbaqqali on 13 Feb 21 - No Cached
  • ZEEPAY, a wholly Ghanaian owned mobile financial services company focused on providing integrated mobile payments services with mobile wallets has announced that the company has partnered with Visa to allow Africans in the diaspora to directly send money onto Visa debit and prepaid cards in Ghana.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      With Visa and Mastercard, Zeepay ensured its place in the international market.
nourserghini

Abacus - 0 views

abacus.co.ke

Abacus Services Kenya

shared by nourserghini on 13 Feb 21 - No Cached
  • Get more for your moneyWhether you are saving for a house, a car, or for a rainy day, get more for your savings on Abacus with up to 9% p.a. #Do you have goals?Maybe it’s a solid financial foundation for the future or giving your kids the best educational opportunities. We can help you reach them.Living Abroad?You are the Kenyan expatriate. You traveled far, and have worked hard for your $, €, £ and AED. Let your money work just as hard for you back home to give you and your loved ones the life you deserve.Ride the bulls, escape the bearsGet the thrill of playing in the markets. Trade in individual stocks, bonds, forex* and bitcoin*.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Abacus Kenya offers a wide range of services such as allowing customers to save their money, supporting clients' financial goals, remittance payments and trading in the financial market.
hibaerrai

Ghanaian agri-tech startup AgroCenta closes $650k seed round of funding - 0 views

disrupt-africa.com/...ses-650k-seed-round-of-funding

AgroCenta Agritech Fintech Ghana Africa Investment

shared by hibaerrai on 13 Feb 21 - No Cached
  • Founded in 2015, AgroCenta is an online sales solution for smallholder farmers, with two offerings – supply chain platform AgroTrade, and financial inclusion service AgroPay.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      AgroCenta has two different platforms; a supply chain one specialized in agricultural storages, seed sales, elevator services and basically the supply of primary elements. The fintech has also a financial services platform Agropay which is basically about loans and e-payments.
  • Disrupt Africa reported yesterday AgroCenta was one of six African startups awarded non-equity funding by the GSMA Ecosystem Accelerator. Though the startup’s co-founder and chief executive officer (CEO) Francis Obirikorang declined to disclose the breakdown of equity versus grant cash, Disrupt Africa can confirm that the GSMA input is worth around US$250,000. Obirikorang said the funds will be used to scale up AgroCenta’s operations in Ghana, while the GSMA grant is more specifically geared towards the AgroPay platform, which provides any smallholder farmer who has traded using AgroTrade with a financial statement they can use to get access to finance.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      AgroCenta was granted about 650000$ in order to grow its activities as its potential is clear. The agritech was granted 250K from GSMA ecosystem only as well.
hichamachir

FinTech Comparative Guide - Technology - France - 0 views

www.mondaq.com/...fintech-comparative-guide

Fintech Cloud-Computing Strategy

shared by hichamachir on 13 Feb 21 - No Cached
  • Cloud computing The banking, payment and insurance industries rely heavily on the outsourcing of various operational processes to cloud computing service providers (eg, Amazon, Google and Microsoft). The increasing reliance of the European financial sector on foreign entities has recently given French and European regulators cause for concern. In 2017, the European Banking Authority (EBA) published its "Recommendations on Outsourcing to Cloud Service Providers. These recommendations were later included in the update of the EBA Guidelines on Outsourcing Arrangements (EBA/GL/2019/02), which are fully implemented at the national level by the Prudential Supervision and Resolution Authority (ACPR). The EBA guidelines require banking and financial institutions to enter into written agreements with their service providers (including cloud service providers). These agreements should notably include provisions detailing the reporting obligations of the service provider and the audit rights of the competent authorities. In practice, the main cloud service providers are reluctant to enter into agreements which comply with the requirements of the EBA guidelines. This has prompted French and European banking and financial institutions to report these issues to their regulators. This review could lead to the drafting of a European regulation or directive determining standard contractual provisions which would be mandatorily included in agreements with cloud service providers.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Cloud computing is the future! I believe that Pula needs to give more importance to cloud computing. Cloud-based storage can totally be improved in Pula's digital infrastructure.
samielbaqqali

Startup Guide Cape Town: how this African city has become a magnet for international en... - 2 views

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Jumo Fintech Capetown

shared by samielbaqqali on 12 Feb 21 - No Cached
  • JUMO advances financial inclusion solutions in seven countries. Karri Payments offers mobile payment collection for schools and community organisations.
  • The book begins with an overview of Cape Town facts such as culture (melting pot of local and international cultures), spoken languages (English, Afrikaans, Xhosa), travel destination (one of the top in the world), cuisine (exquisite), bars and cafes (excellent), customs (braai barbecue), nature and sports (fantastic), wildlife (diverse), locals (chatty, friendly), and transportation (great but fragmented),
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      The seven financial inclusion products of JUMO are a clear example of the range of solutions provided by this organization. I like the way JUMO innovates and grows in order to offer a product/service that is very effective across the continent.
  • hichamachir on 12 Feb 21
     
    JUMO's seven financial inclusion products are a good example of the variety of solution that this company provides. I like the way JUMO innovate and expand in order to deliver a very efficient product/service in all the continent.
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