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ayachehbouni

Prime and SimbaPay partner to launch international money transfer service | Mobile Paym... - 0 views

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

shared by ayachehbouni on 12 Feb 21 - No Cached
  • "Businesses as well as Kenyans and expatriates with friends and family abroad send over $18 Billion to other African countries," Karanja said in the release. "Asia and Europe annually with several billion Kenya Shillings going through the SimbaPay network. Therefore, this service will offer Prime Bank's customers a world-class fully digital International Money Transfer service."
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it explains that $18 billion are transferred by businesses, other kenyans and expatriates with friends and family abroad to other African countries. Hence, the partnership between SimbaPay and Prime Bank is expected to improve international money transfer for these people, who represent a large market.
  • SimbaPay's head of operations, Victor Karanja, stated the service will provide a seamless platform for Prime Bank's customer base to send money abroad.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I found the collaboration between Prime Bank and SimbaPay really smart because it will help them to extend their capacity and attract new customers. it is a win-win situation.
    • rayanbenabdallah
      rayanbenabdallah on 13 Feb 21
       
      Indeed the collaboration between Prime Bank and SimbaPay is a smart move for both compagnies. The joint force will enable a very important customer expansion.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it explains that $18 billion are transferred by businesses, other kenyans and expatriates with friends and family abroad to other African countries. Hence, the partnership between SimbaPay and Prime Bank is expected to improve international money transfer for these people, who represent a large market.
  • ...4 more annotations...
  • Prime Bank, a private bank in Kenya, has partnered with London-based fintech, SimbaPay, to launch an instant international money transfer service via the bank's digital platform, PrimeMobi, according to a press releaseThrough SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries including Africa, Europe, Asia, India, United Kingdom, China, Germany and Uganda.
  • Prime Bank, a private bank in Kenya, has partnered with London-based fintech, SimbaPay, to launch an instant international money transfer service via the bank's digital platform, PrimeMobi, according to a press releaseThrough SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries including Africa, Europe, Asia, India, United Kingdom, China, Germany and Uganda.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt shows different countries that simbapay is working with.It shows that the app is not only limited to kenya and china but to other countries which will allow simbapay to acquire more customers worldwide
  • Prime Bank, a private bank in Kenya, has partnered with London-based fintech, SimbaPay, to launch an instant international money transfer service via the bank's digital platform, PrimeMobi, according to a press releaseThrough SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries including Africa, Europe, Asia, India, United Kingdom, China, Germany and Uganda.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Simbapay partnership with Prime Bank has allowed it to launch an international branch in the fintech in which you can transfer money to different other countries.
  • Prime and SimbaPay partner to launch international money transfer service
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This partnership is fruitful for both sides as it will increase both parties reach and customer base.
omarlahmidi

Mastercard, SnapScan partnership adds 30,000 South African merchants - 0 views

www.bizcommunity.com/...154383.html

SnapScan E-payments Africa

shared by omarlahmidi on 13 Feb 21 - No Cached
  • “With Masterpass, we’re enabling consumers to make secure and simple everyday payments wherever they are and from any connected device, without needing to physically carry their bank cards with them,” says Mark Elliott, Division President, Mastercard, South Africa. “Thanks to our collaboration with SnapScan, we are pleased to offer consumers even more places to pay using Masterpass, which is now the most widely accepted digital wallet in South Africa.”Since its launch in 2013, SnapScan has grown its acceptance exponentially, especially among small businesses that traditionally did not have access to traditional Point of Sale devices and relied on cash payments. It makes accepting digital card payments cheap and easy, with merchants simply needing to display a QR code at the till, online or on a bill.“Given SnapScan’s extensive acceptance footprint, the ability to offer merchants a single QR code, which will accept payment from multiple mobile wallet solutions such as Masterpass, is the driving force behind creating interoperability,” says Lincoln Mali, head of group card and payments at Standard Bank. “We believe that interoperability between digital payments platforms is one of the keys to driving digital payments usage and acceptance in South Africa.”
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Master Pass gives consumers the opportunity to buy digital wallets on their smartphones online and in-store without having to carry bankcards.  People can check a single SnapScan QR code anywhere they want to make payments.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      The collaboration does not stop with international banks, yet innovative online payment companies are involved. Mastercard collaborates with SnapScan offering the customer easy use.
  • Each Masterpass transaction is classified as an Authenticated Mobile Transaction by South African banks, ensuring that consumers enjoy the highest protection from fraudsters.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      MasterCard operates with SnapScan to make customer's life much easier.
nourserghini

9 Fintech Innovations Impacting the Consumer Experience | DAP - 0 views

www.digitalauthority.me/...fintech

Fintech Public cloud Strategy

shared by nourserghini on 13 Feb 21 - No Cached
  • The fintech industry is lagging behind in cloud adoption. The industry as a whole was cautious about moving information to the cloud due to security concerns. However, the adoption of cloud technology is accelerating.Public cloud adoption has many benefits for financial businesses. The cloud provides a faster way to deliver services to consumers. Companies have to invest less capital.It streamlines operations and helps build consumer-centric processes. According to a PWC report, the public cloud will be the main infrastructure model for financial services by 2020.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Another strategy that fintechs need to consider is adopting a public cloud instead of a private one as major fintechs are going back to it since it allows faster and cheaper service for the company.
mbellakbail69

South African fintech JUMO scooped up $55 million in funding - 0 views

www.businessinsider.com/d-55-million-in-funding-2020-2

shared by mbellakbail69 on 09 Feb 21 - No Cached
  • JUMO offers a wide range of services to users in emerging markets via partnerships with other financial institutions
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo delivers services to third parties in emerging markets using partnership with other financial institutions.
  • JUMO offers financial services infrastructure to third parties and has served over 15 million customers across countries, including Ghana, Kenya, Pakistan, and Tanzania, and it plans to use the fresh capital to launch new products and expand into new markets: It's set to launch in Bangladesh, India, Côte d'Ivoire, and Nigeria soon, per its website.
    • nourserghini
      nourserghini on 09 Feb 21
       
      The article shows that Jumo specializes in financial services infrastructure to third parties. It operates in African countries such as Ghana, Kenya and Tanzania.
  • South African fintech JUMO scooped up $55 million in funding
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo's original location is in South Africa.
  • ...8 more annotations...
  • And while JUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products, like loan products, to better close the financial inclusion gap in these regions.
  • JUMO's partners include Telenor and Telenor Microfinance Bank, with which it launched its first commercial product in Asia in 2018, and Tigo, Airtel, and MTN with which it offers short-term loans in Kenya, Zambia, and Uganda. With help of the latest funding, JUMO will be able to further boost such partnerships, and become a more dominant player in the financial services industries in emerging markets.
    • mehdibella
      mehdibella on 13 Feb 21
       
      jUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products
  • JUMO offers this technology stack to partners, including telecommunication firms and other financial institutions, to power their financial products and serve consumers via their respective platforms.
  • The fintech's technology stack includes a lending product that gives entrepreneurs quick access to funds or asset finance, and JUMO has so far disbursed over $1.8 billion in loans. It also provides savings options to clients, including short-term, structure, and long-term products, and works together with underwriters and insurers to create standalone insurance products to "safeguard incomes, families, assets, and businesses".
    • ghtazi
      ghtazi on 13 Feb 21
       
      JUMO has already distributed 1.8 billion USD loans, it gives also the possibility to its users to have savings options to clients, including short term, structure, and long-term products. The company also ensures the creation of standalone insurance products.
  • JUMO's debt and equity round included participation from both new and existing investors, like Goldman Sachs, Odey Asset Management, and Leapfrog Investments, per TechStartups.com.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the nature of funding that Jumo secures whether through debt or equity; new or existing investors.
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because first it clearly states the business model of Jumo. Then, it discusses the possibilities of (geographical) expansion and diversification of offerings (more consumer products, loan options, bank accounts etc).
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt included the services that jumo offers, the business model, and some recommendation that the company should consider improving the platform
  • Additionally, only 27% of the population in Southeast Asia has a bank account, leaving a financial inclusion gap of around 438 million consumers. And we've seen fintechs that aim to close this gap attract significant investor interest in the past year: Investment in African fintechs increased by 155% from $111 million in 2018, to $283 million, while Southeast Asian fintechs saw funding surge of 69% from $588 million to $993 million over the same period, per CB Insights.
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.
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
kaoutarchennoufi

Instant Mobile Loans in Kenya, KCB M-PESA Account, M-Shwari - Safaricom - 0 views

www.safaricom.co.ke/...loans-and-savings

Paperless Efficient TimeSaving M-Shwari

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • M-Shwari is a paperless banking service offered through M-PESA. It will: Enable you open and operate an M-Shwari bank account through your mobile phone, via M-PESA, without having to visit banks or fill out any forms. Provide you the ability to move money in and out of your M-Shwari savings account to your M-PESA account at no charge. Give you an opportunity to save as little as KSHs.1 and earn interest of up to 6.65% p.a on your saving balance. This cash is moved into the savings account via M-PESA. Enable you to access micro credit product (loan) of a minimum of KSHs.100 any time and receive your loan instantly on your M-PESA account charged at a facility fee of 7.5% Save for a fixed period of time (Lock Savings Account) and earn interest of up to 70% of the Central bank Rate. This is a product for everyone who feels that banking should be hassle-free. No forms to fill in, no branches to visit. Just one click on your phone and you have a savings account!
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      M-pesa has also a paperless banking service option named M-Shwari. This is avery useful and time saving solution. The majority of people don't appreciate to go to the banks and have to wait for many hours for a simple service.
mbellakbail69

Prime Bank Launches SimbaPay - International Money Transfer Service - 0 views

aithority.com/...ational-money-transfer-service

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • Through SimbaPay, Prime Bank customers will now be able to instantly and securely send money directly to bank accounts or mobile wallets across 15 countries in Africa, Europe, and Asia including India, United Kingdom, China (WeChat Pay), Germany, Uganda among others.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      SimbaPay and Prime Bank customers will benefit from direct collaboration; this includes direct money transfer across 15 countries all over the world.
  • Commenting on the partnership, SimbaPay’s Head of Operations Victor Karanja noted that the service will provide a seamless platform for Prime Bank’s customer base to send money abroad at the click of a button.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      It's easy to access the service, customers will only need to login to the bank's mobile banking app - PrimeMobi, then click on the International Money Transfer icon on the home screen
kaoutarchennoufi

From M-Pesa to Ushahidi: how African tech is fighting the coronavirus - Friends of Europe - 0 views

www.friendsofeurope.org/...ch-is-fighting-the-coronavirus

CashFlow Grow Fees Users

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • The main telecoms operators in the country are all pitching in too – starting with Safaricom which uses the M-Pesa mobile application. In my book “Startup Lions, at the heart of African Tech” I explain how M-Pesa was born organically (and unexpectedly) from contact with the poorest Kenyan populations who didn’t even have bank accounts. A great many of them used ‘m-banking’ to gain financial independence which led to the M-Pesa service having over 22.6 million users in Kenya in 2019 – almost two-thirds of the adult population. A few hours after the president’s announcement, M-Pesa decided to drastically reduce its usage fees and to remove the daily transaction volume limit across the board in order to increase cash flow.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      M-Pesa has made the decision to increase its cash flow by reducing its usage fees and removing the daily transaction volume limit across the board. However, I think that it is not a good strategy to reach that goals. They need to follow other ways such as encouraging E-payments, paying less their suppliers, offer discounts, increase their fees..
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