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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.
samiatazi

Alliances: a win-win strategy - KPMG Global - 0 views

home.kpmg/...iances-a-win-win-strategy.html

Fintechs Innovation Strategy Challenges Shift

shared by samiatazi on 13 Feb 21 - No Cached
  • The financial services industry today is characterized by change. Investor interest and capital is pouring into fintech companies – digital banks, insurtechs, wealthtechs, proptechs and every option in between are shifting how financial services are created, offered and evaluated. New changes, new challengesThis shift has spurred many traditional financial institutions to take action. Yet, changes aren’t always straightforward. Financial institutions know they need to embrace innovation, and they also have to find better ways to understand and respond to their customers.At the same time, the shift has put a spotlight on a new area of opportunity for big tech companies like Alibaba, Apple, Google, Tencent and others. These companies have incredible reach, deep roots into their customers’ lives, and robust customer data. Big techs are also constantly looking for ways to provide their customers with more value, to enhance customer loyalty by providing a more integrated ecosystem. Most already offer payments solutions, so extending their offerings to include financial products makes sense. However, there are no strong indicators that the big tech companies want to become banks. The regulatory burden is so far considered too high for their appetite1. Forging strategic alliancesBig tech and financial institutions are already investing in fintechs to help advance their strategic goals. For example, Tencent led a $35 million investment in open banking focused TrueLayer in the UK this year2.What they are realizing that partnerships don’t have to be limited to start-ups – working together with established institutions can create value. Over the past 6 months, there have been a number of strategic business relationships announced, such as Google’s partnership with Citibank and Stanford Federal Credit Union, to offer smart checking accounts3 and Apple’s announcement of a partnership with Goldman Sachs to offer the Apple Card credit card4. These will likely only be the beginning. 
    • samiatazi
      samiatazi on 13 Feb 21
       
      Financial backer interest and capital is filling fintech organizations. Enormous tech organizations like Alibaba, Apple, Google, Tencent and others are searching for approaches to work with banks. The administrative weight is so far considered to be excessively high for these organizations to become banks. Google and Apple have reported vital business associations with banks in the previous a half year. The organizations are understanding that associations don't need to be restricted to new businesses and start-ups, yet cooperating with established organizations can be beneficial as well. The shift has put a focus on large tech organizations, for example, Alibaba and Apple.
hindelquarrouti

Positioning Strategies On Mobile Money Transfer At Safaricom Limited - 0 views

erepository.uonbi.ac.ke/...20At%20Safaricom%20Limited.pdf

positioning strategy M-pesa

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • hindelquarrouti on 13 Feb 21
     
    According to the positioning strategy, they alternate the marketable offerings in a way that suits competition. M-pesa is tailored with contents that interest customers and built loyalty
hindelquarrouti

201805_Digital-Access_The-Future-of-Financial-Inclusion-in-Africa_v1.pdf - 1 views

www.ifc.org/...ial-Inclusion-in-Africa_v1.pdf

Digital Strategy Fintech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • hindelquarrouti on 13 Feb 21
     
    Besides the overall strategy of the organization, the digital Strategy remains a main component. It should be guided by the vision and the mission of the business as well as the market conditions.
hindelquarrouti

Bismart is a KE based company founded in 2017 - 2 views

gomedici.com/bismart

Strategy Bismart fintech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • Bismart is a leading Kenyan insurance aggregator. We leverage on digital platforms and technologies which enables us to connect our clients to the best insurance and investments solutions available in the market. Most importantly we provide our clients with education and information; this irrevocably gives power to the client to freely decide on the best premier insurance and /or investment solution to stick with. And all this in front of their computer screen or smartphone.Insurance is just a click away...Be smart, Buy smart.
    • aminej
      aminej on 13 Feb 21
       
      Bismart opt for a strategy that faciilitate access to insurance services for Kenyans. They also provide education to people in order to learn more about these financial services, decrease the number of unbanked people
  • We leverage on digital platforms and technologies which enables us to connect our clients to the best insurance and investments solutions available in the market.
  • hindelquarrouti on 13 Feb 21
     
    Bismart leverages on digital platforms that allow the customers find the best insurance or investment solution for their case. Using this strategy, which involves providing education and information to their customers, they empower the client to make its own decisions.
hindelquarrouti

The Rise of the Robo-advisor: How Fintech Is Disrupting Retirement - Knowledge@Wharton - 2 views

knowledge.wharton.upenn.edu/...-fintech-disrupting-retirement

Strategy robo-advisors fitech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • Robos came on the scene about a decade ago, and two early startups were Wealthfront and Betterment. Today, there are dozens of robos in the market, Fisch said. There are pure robo services, as well as those that offer the option of talking to a human advisor, with or without an extra fee. Since they’re automated, robos can more easily avoid conflicts of interest that could beset a human advisor, who might push investments that pay the highest commissions.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Having Robo-advisors in EasyEquities would prevent the risk of having conflicts with "human" advisors. Digital assistance is the key.
  • Robo fees can range from zero — if the investor has less than $10,000 to invest — to as high as 0.89% of assets under $1 million in some cases, said Brett Hammond, research leader of Capital Group. But 0.25% to 0.30% of assets is more typical, he added. (The fee is on top of the cost of the investment itself.) As for performance, it’s a mixed bag with some robos doing better than others, Hammond said. The big question is how they will do in the long run, especially during a big market crash, since they don’t have an extended track record yet. “We don’t know in a complete cycle what these [robos] are going to deliver,” he said. “The real issue is, does it improve outcomes?”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because, on the one hand, it introduces us to the fees that can be charged by Robo-advisors. On the other, performance is hard to measure for robo-advisors since nobody knows how the will behave in the long run and in severe circumstances i.e. a market crash.
  • Artificial intelligence is changing the world of retirement planning. By using improved datasets and algorithms to efficiently deliver solutions tailored to people’s needs, AI can help them save, invest and retire better. One of the hottest trends to emerge in this area in recent years is the use of robo-advisors. These are software programs that use the data supplied by clients to create and automatically manage their investment portfolios
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The use of Robo Advisors alongside artificial intelligence could be used by different fintech companies and in different fields like for investments, portfolio management or retirement planning.
  • ...1 more annotation...
  • One of the hottest trends to emerge in this area in recent years is the use of robo-advisors.
  • hindelquarrouti on 13 Feb 21
     
    It is a very interesting strategy that of benefiting from the use of AI and its advances that include improved datasets and algorithms that efficiently deliver solutions that are appropriate to users need. One of the trend that was raised by this strategy is that of robo-advisors.
sawsanenn

When fintech met crowdfunding - AltFi - 0 views

www.altfi.com/..._when-fintech-met-crowdfunding

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • It became clear that fintech companies began to prize crowdfunding three years ago. Monzo crashed our servers in 2016 when it raised £1m in 96 seconds. Last December, the now-serial crowdfunding neobank raised £20m from retail investors. 
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Crowdfunding would be a beneficial strategy for EasyEquities to help young entrepreneurs raise money for their new investments.
  • The world’s leading fintechs are using crowdfunding to cement and enhance their relationship with their customers. The latest Unicorns report from Beauhurst, an independent analysis firm, identifies the UK’s 21 unicorn companies – those worth $1bn (around £760m) or more. Of the 21, six are fintechs, and two are digital banks: Monzo and Revolut. Both have turned to crowdfunding – at a time when they are the darlings of the tech scene and its investors – to raise capital. 
    • hichamachir
      hichamachir on 13 Feb 21
       
      Crowdfunding is becoming a very used strategy for fintechs because it's a concept that help entrepreneurs finance their projects. Also it's a concept that makes the community more connected
  • The staggering thing about Monzo’s raise – and it speaks volumes about where crowdfunding and fintech have reached – is that it did not need to raise the £20m from any of us on the street. In October – i.e. just two months shy of the raise – the bank had closed an £85m round led by VC firm Accel. Raising £20m is no walk in the park. You need to build a prospectus, which is a lengthy and expensive process. Monzo’s crowdfunding raise capped all investments at £2,000, meaning the team chose to have more investors to look after. 
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt uses the example of Monzo's fundraising through crowdfunding to show that the latter could be a great source of financing for fintech companies.
  • ...3 more annotations...
  • Making consumers owners and giving them a say has become integral to how these companies run. Indeed, many are now building their own platforms to manage ownership. What does this tell us about the future? Here are businesses offering equity – not for money, not because they want to list, but to build an affinity with their customers. As these relationships evolve, both sides benefit: greater engagement – better products – more customers – growth – profit – both sides capitalise.  It could be called the democracy of building business. Technology is making this shift around the consumer possible not just in finance, but across markets. While the former has emerged as the vanguard, there are other non-tech sectors that have leapfrogged traditional ownership structures and cemented their own success. Food and beverage, historically underserved by the financial world, was an early adopter of crowdfunding. BrewDog is the poster child for this – a four-time Crowdcube funded brewery. It has 120,000 investors, aka Equity Punks, who, in its words, kick-started the craft beer revolution and, presumably, enjoy its beer. The prospect gets so much more exciting when you start to think of the markets that are hardest to disrupt, build a community around, and fight injustices: insurance, mining, the coffee industry, healthcare.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      Here the positive side of crowdfunding is presented and includes the ownership of customers over the businesses/brands they fo to. Crowdfunding here appears to be a great opportunity, which the article describes as the democracy of building business.
  • The world’s leading fintechs are using crowdfunding to cement and enhance their relationship with their customers. The latest Unicorns report from Beauhurst, an independent analysis firm, identifies the UK’s 21 unicorn companies – those worth $1bn (around £760m) or more. Of the 21, six are fintechs, and two are digital banks: Monzo and Revolut. Both have turned to crowdfunding – at a time when they are the darlings of the tech scene and its investors – to raise capital. 
    • ghtazi
      ghtazi on 13 Feb 21
       
      what we can say is crowdfunding is the future for fintech. using Crowdfunding will helps the fintech to have a stronger and powerful relationship with its customers.
  • To answer that, I believe we have to go back to the financial crisis. After 2008, a chasm opened up in financial markets, encouraged by a profound lack of trust. We’re well-versed with the outcomes. The banks that survived had to change their ways, and new players came onto the scene. A decade later, it is the novel relationship between these latest entrants and consumers that gives us an idea of what the future looks like: a world where any business-to-consumer company knows that sharing ownership with its customers is fundamental to long-term success. This is the cooperative movement of the twenty-first century, and it is driven by technology.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This could imply that future companies are effective for a variety of reasons. Rather than capitalizing on cost savings, piling up high-quality products and selling them cheaply, or structural brands that are more myth-based than substance-based, they will be firms that effectively utilize network effects, concentrate on being a product first, and bake their clients into everyones brand
mohammed_ab

How Can FinTech Companies Gain Agility by Setting a Cloud Strategy - The PNR - 0 views

thepnr.com/ud-strategy-financial-industry

Fintech Strategy Cloud Computing M-Pesa

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Cloud computing allows financial institutions to optimize IT resources and remove development constraints based on IT’s capacity to deliver (Cofran, 2011, p. 1). Financial institutions can respond faster to needs of customers by reducing development cycles for new products and scale products as needed because of the flexibility of the cloud (Sriram, 2011, p. 4). Furthermore, cloud computing helps financial institutions standardize applications and infrastructures which simplify the overall enterprise architecture. According to Courbe (2013), having a common infrastructure already in place worldwide enables a system to serve customers more efficiently and effectively globally.
  • mohammed_ab on 13 Feb 21
     
    Cloud computing has a lot of benefits on financial services. M-Pesa which is a fintech that offers mobile payment solutions to the unbanked population could really benefit from cloud computing. By using cloud computing, M-Pesa could improve its system reliability as it allows you to have higher data protection and recovery. It will also allow M-Pesa to optimize its IT infrastructure.
hindelquarrouti

Integrated marketing communication and technology adoption : a case of Safaricom's M-PE... - 1 views

journals.co.za/...20421338.2013.829297

Integrated marketing Strategy Fintech M-pesa

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • Safaricom had used IMC strategies befitting their target market compared to its competition to diffuse information on the M-PESA innovation
  • hindelquarrouti on 13 Feb 21
     
    Although There are a lot of companies in Africa, none of them was able to achieve the same success as M-Pesa. And this might be tracked back to the fact that it has incorporated the Integrated Marketing Communication (IMC) strategies which helped it capturing and exploiting customers information in order to use them in the most efficient way.
mehdibella

Standard Bank snaps up major stake in SnapScan maker | Fin24 - 1 views

www.news24.com/...of-snapscan-developer-20161212

Fintech finance SouthAfrica snapscan

shared by mehdibella on 11 Feb 21 - No Cached
  • The company will continue to develop and expand its offering to provide a range of product development and payments services.Kobus Ehlers, Firepay CEO, said: “Our team is looking forward to building out our payments platform to solve the real-world payments problems we have always focused on, and to provide customers with the best experience possible. We’re excited to work with Standard Bank in our mission to achieve this both in South Africa and across the continent.”
  • “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit between their capabilities and Standard Bank’s vision for a truly universal bank, both in South Africa and throughout the African continent,” said Wendy Pienaar, SBSA Head of Emerging Payments.“Firepay’s experienced team and industry know-how will be used to bolster Standard Bank’s emerging payments strategy,” she added.In addition to SnapScan, the Firepay team’s technology platform already enables payments for several clients, including WeChat and Masterpass.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      SnapScan's plan for expansion seems very important to me. They will accomplish enormous things on the African continent with the financial aid of Standard Bank and the special service that SnapScan offers.
  • “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit between their capabilities and Standard Bank’s vision for a truly universal bank, both in South Africa and throughout the African continent,” said Wendy Pienaar, SBSA Head of Emerging Payments.“Firepay’s experienced team and industry know-how will be used to bolster Standard Bank’s emerging payments strategy,” she added.In addition to SnapScan, the Firepay team’s technology platform already enables payments for several clients, including WeChat and Masterpass.
  • ...3 more annotations...
  • Johannesburg - South African financial services provider Standard Bank has acquired a majority share of Firepay, the company behind the quick response code payment app SnapScan.
  • Firepay launched the SnapScan app in partnership with Standard Bank in 2014 and today has 32 000 physical and online merchants.The app, which is connected to a bank account or mobile wallet, allows users to make payments from their mobile device by scanning a QR (quick response) code.
  • “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit between their capabilities and Standard Bank’s vision for a truly universal bank, both in South Africa and throughout the African continent,” said Wendy Pienaar, SBSA Head of Emerging Payments.
    • mehdibella
      mehdibella on 13 Feb 21
       
      I find that Contributing to students wellfare is amazing by this parternship.
  • hichamachir on 11 Feb 21
     
    SnapScan expansion strategy seems quite interesting for me. With the financial help of Standard Bank and the unique service that SnapScan provides, they can achieve huge things in the African continent.
chaimaa-rachid

How FinTech Helps with Cloud Strategies - dummies - 0 views

www.dummies.com/...ch-helps-with-cloud-strategies

Fintech strategy banking technology

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • FinTech companies are generally well versed in the complexities of infrastructure analysis, banking and financial industry regulations, and legacy systems.
mohammed_ab

Creating a Strategy for the New FinTech Ecosystem - Belatrix Software - 0 views

www.belatrixsf.com/...creating-strategy-fintech

Fintech Strategy M-Pesa Alliances

shared by mohammed_ab on 13 Feb 21 - No Cached
  • 1. Millennials squared – a parable of a digital wallet and beer moneyEarlier this year Sam Crowder stood up at a televised baseball game, and held a sign asking his Mum to send him “beer money”. He included his Venmo account information. Thousands of people sent him money, as his sign went viral. Beyond sharing this story as advice in case you ́re ever thirsty and leave your wallet at home, what it reflects is how the use of new technologies may start with digital natives, but then rapidly spread to other generations. It reflects the inter-generational adoption of, and use of, FinTech technologies.So, when looking at the potential of new services, it is important not just to consider the young people who will adopt it. But what will happen when they introduce the technology to their friends and family. Millennials are the earthquake that shakes companies, and adopt new tech and services at lightning speed. The rest of us are the tsunami of adoption that follows and lead to exponential growth.
  • 2. Facebook, Amazon, Google or Ant Financial will become the largest retail bank in the worldIt’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.“Some bankers and analyststhink that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. What is more, I think banks that are not prepared for such new competitors face certain death”Francisco González, CEO, BBVA
  • hese major tech companies have the platform and the scale to upend retail banking. They already have a digital wallet which underlies the services that enable users to buy and sell on their platforms, such as Google Wallet and Amazon Payments. Facebook Messenger Pay is already available in the US while it recently received an e-money license from the Central Bank of Ireland. This means European users will be able to store and transfer money, and make online purchases. The transition to becoming the largest retail bank in the world will be swift and brutal for traditional banks.
  • ...7 more annotations...
  • 3. Regulators finally make the pivot to supporting the FinTech ecosystemBitX, a bitcoin startup in Singapore, was looking to enter the UK and European markets. Instead of having an arduous journey gaining the required licenses and approvals as it would have expected in the past, BitX was accepted into the regulatory sandbox of the UK’s Financial Conduct Authority. This enabled it to test its services and build its product with the backing of the regulator. This kind of thinking reflects how in the past few years we have seen regulators move from hindering innovation and new services, to proactively supporting and strengthening the FinTech ecosystem.It is a challenging line to take, particularly in the
  • world of finance – to help create the framework and environment for innovation, while also protecting consumers and businesses. However, increasingly we see regulators getting this blend right.For example, the European Union’s Directive on Payment Services (PSD2) will create an EU-wide single market for payments. This will drive new opportunities and innovation in the payment sector, because it will force financial institutions to provide secure access for a third-party service provider to a customer’s online account. Meanwhile, we have seen regulatory sandboxes emerge not just in the UK, but in locations from Singapore to Australia. The US Treasury meanwhile recently announced it will start issuing special purpose national bank charters to FinTech companies.In the future, expect to see the emergence of “RegTech”. This will enable real-time interaction and analysis between regulators and financial institutions. Indeed, thi
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • samiatazi
      samiatazi on 13 Feb 21
       
      this article points out 4 expectations for the fate of FinTech and Financial services. However, I think that the most interesting one is the last one which states that The effect of FinTech advancement is frequently made and experienced outside the usual Hub of Finance, for example, New York, London or Singapore. Giant Companies are searching for inspiration among innovative and creative products, items and thoughts being made from Guadalajara, to Laos, to Kenya. I really like this part too, stating that We will see markets and administrations arising which are as of now not on anybody's guide, and become the absolute most significant Fintechs on the planet.
  • software platform between itself and the banks, so it can view and analyze information in real-time.4. Look beyond the hubs to find innovative ideasAcross Kenya, mobile money has become ubiquitous – being used by at least one person in 96% of Kenyan households. But what is the real impact of mobile money in such countries? One study estimated that M-PESA, the Kenyan mobile money system which enables money to be stored on a phone and be sent via text, has helped lift 2% of Kenyan households out of poverty.What this example demonstrates is that the impact of FinTech innovation is often created and experienced outside of the usual hubs of finance su
  • In the past few years we have seen the rapid evolution of FinTech from generating novel ideas which solve customer problems, to offering core financial services. We have seen the shift from digital startups, characterized by a lack of financial wherewithal and which operated on the edge of tightly regulated markets, to the emergence of mature financial digital organizations at the heart of the traditional financial world.We can describe the development and maturing of FinTech in 3 main waves:The early emergence of digital startups helping consumers. Originally FinTech solutions were the preserve of B2C markets which solved specific customer problems such as offering home loans faster and easier. They used new technologies such as mobile and cloud computing, and were characterized by a laser focus on the customer with all the hall-marks of a digital Silicon-Valley style start-up.Transition to B2B markets. Today FinTech plays a role at the core of B2B innovation in financial markets, and industry observers widely expect B2B FinTech revenues to dwarf those in consumer markets within the next couple of years. Organizations such as Currency Cloud (cross border B2B payments), Payoneer Escrow (escrow services), and Hummingbill (B2B invoice platform) all reflect a maturing industry.The creation of an ecosystem between FinTech and traditional players. FinTech organizations are realizing that the required go-to-market investment, economies of scale, and regulatory needs, means it makes sense to partner with traditional financial institutions. On the other side, established players recognize the value, innovation and potential of FinTech in a world which is increasingly mobile-first. These financial institutions are also adopting many of the methods that FinTechs use so successfully, from a focus on the customer, to using Agile software development, to holding hackathons, and forming accelerators and innovation programs.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows the three waves that each fintech companies go through. Currently, most companies are still in b2b markets which an new innovative role in the financial markets; howver, not all companies are doing the same thing. Some of them still need a real bank ( Not virtual) to make transactions and don't trust softwares.
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • ghtazi
      ghtazi on 13 Feb 21
       
      What this example shows is that beyond the usual finance hubs, such as in New York, London, or Singapore, the influence of FinTech innovation is also generated and experienced.
  • It’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.
  • mohammed_ab on 13 Feb 21
     
    This article explains how the big e-commerce giant Amazon and the dominant social media platforms will become the largest retail banks in the future. I think that M-Pesa could benefit from strategic alliances or partnerships with these big giants.
kenza_abdelhaq

Digital Innovation in Emerging Markets: A Case Study of Mobile Money | MIT CISR - 0 views

cisr.mit.edu/...tionVodafone_OrlikowskiBarrett

M-Pesa Kenya Payments Services

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • We describe the success of M-PESA in Kenya and the subsequent disappointment when M-PESA was replicated in Tanzania. We show how emerging markets are likely to be more different from than similar to one another. Thus, companies should consider a strategy of exploration as they attempt to expand within emerging markets. 
  • In 2008, a year after launching in Kenya, Vodafone attempted to replicate this success in neighboring Tanzania, a country that resembled Kenya in many important ways—size of population (40+ million) and main languages spoken (Swahili and English), as well as levels of literacy, unbanked, and mobile phone usage. But M-PESA in Tanzania did not grow on anything like the scale and scope of M-PESA in Kenya
  • M-PESA was initially developed by Vodafone as a mobile-based, microfinancing application funded partially by the UK Department for International Development to extend financial access to the unbanked populations in East Africa.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Developed by the mobile telecommunications company Vodafone, M-Pesa was first a microfinancing solution promoting financial inclusion in East Africa.
  • ...2 more annotations...
  • Managed by the corporate social responsibility (CSR) group within Vodafone, M-PESA was designed for a niche market: microfinancing institutions and their clients. The project was intended to be low-cost, low-key, small in scale, and modest in scope—focused on addressing issues of financial inclusion within the developing world. 
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      M-Pesa's niche market: microfinancing institutions and their clients.
  • The redesigned M-PESA system launched in Kenya in April 2007, growing rapidly through uptake and user innovation of new services. Now used by over 17 million Kenyans—which is more than two-thirds of the adult population—it is estimated that annually some 31% of the country’s GDP flows through it.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      - Important customer reach. - Facilitates the transfer of funds as 31% of the country's GDP flows through the platform.
  • mohammed_ab on 12 Feb 21
     
    I think that this article shows something very important that we should into consideration in our capstone research. It shows how the same service was launched in very similar African countries, yet the penetration and growth results were far from the same. It's important because it shows that if we want to use a fintech strategy followed by a foreign company to an African one, it could result in very bad consequences even if this same strategy works for the foreign company.
  • kenza_abdelhaq on 13 Feb 21
     
    "M-PESA was initially developed by Vodafone as a mobile-based, microfinancing application funded partially by the UK Department for International Development to extend financial access to the unbanked populations in East Africa. Managed by the corporate social responsibility (CSR) group within Vodafone, M-PESA was designed for a niche market: microfinancing institutions and their clients. The project was intended to be low-cost, low-key, small in scale, and modest in scope-focused on addressing issues of financial inclusion within the developing world. "
hindelquarrouti

Theorizing the connections between digital innovations and societal transformation: lea... - 0 views

www.elgaronline.com/...9781788119979.00013.xml

M-pesa strategy Kenya fintech

shared by hindelquarrouti on 13 Feb 21 - No Cached
  • The strategy has two hallmarks: (1) it looks for relevant conditions that are both material and symbolic or ideational, and (2) it looks for relevant conditions arising throughout the course of the digital innovation’s developmental trajectory.
  • hindelquarrouti on 13 Feb 21
     
    Studying the connection between digital innovations and societal transformation is fraught with challenge. However a strategy for inquiry that focuses on finding relevant material, symbolic, or emerging from the course of innovation conditions ca be helpful
hibaerrai

Fintech, distributed-ledger technology and the token economy | Internal Market, Industr... - 0 views

ec.europa.eu/...fintech_en

Fintech Strategy Distributed Ledger technology Digital

shared by hibaerrai on 13 Feb 21 - No Cached
  • Distributed-ledger technology (DLT) enables safer, faster and cheaper transactions in an ever-increasing number of sectors. The Commission considers DLT as a breakthrough technology that is key for the EU's competitiveness.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Distributed ledger technology can be a very efficient strategy in fintechs because it is time saving, safe and cheaper than other strategies.
mehdi-ezzaoui

EFFECT OF IMPLEMENTATION OF FINTECH STRATEGIES ON COMPETITIVENESS IN THE BANKING SECTOR... - 0 views

www.iprjb.org/...628

Fintech strategies banking

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • The purpose of this study was to establish the effects of implementation of Fintech strategies on competitiveness in the banking sector in Kenya
  • mehdi-ezzaoui on 13 Feb 21
     
    fintech challenges
omarlahmidi

Global Payment Gateways Market Current Trends, Competitive Landscape and Future Growth ... - 0 views

www.orbismarketreports.com/s-and-forecast-outlook-by-2026

Africa SnapScan

shared by omarlahmidi on 27 Feb 21 - No Cached
  • This Global Payment Gateways Market report provides the readers with detailed figures at which the Payment Gateways market was valued in the historical year and its expected growth in upcoming years. Besides, analysis also forecasts the CAGR at which the Payment Gateways industry is expected to mount and major factors driving markets growth. The global Payment Gateways market report offers users the detailed study of the market and its main aspects. There are different marketing strategies that every marketer looks up to in order to ace the competition in the Global market. There is a target set in market that every marketing strategy has to reach. Some of the important aspects analyzed in the report include market share, production, key regions, revenue rate as well as key players.
mbellakbail69

Why South African brands really should adopt an omni-channel model - Ventureburn - 0 views

ventureburn.com/...eally-adopt-omni-channel-model

Strategy South Africa

shared by mbellakbail69 on 27 Feb 21 - No Cached
  • These inconsistent experiences frustrate consumers, who see each brand as a single entity. They don’t know or care that there are different teams putting together the advertising, working in the call centre, and looking after the mobile app. They want a consistent experience from each of these touchpoints. Increasingly, they demand a seamless and connected experience that uses the mobile phone as the hub of communication. Financial firms, especially, face competitive threats from digital disruptors such as Google, PayPal, Apple, and South Africa’s Snapscan.
  • Unlike a multi-channel approach, mobile should not be viewed as a silo by a brand that is committed to omni-channel experiences. With a sound mobile strategy integrated into an omni-channel approach, brands can use push messages effectively within their apps to send personalised messages to customers if they have their permission.
kenza_abdelhaq

TPAY Mobile acquires Turkey's Payguru - Wamda - 0 views

www.wamda.com/...obile-acquires-turkeys-payguru

TPay Mobile Algeria Acquisitions

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • The deal comes at a time when demand for digital payment services is surging due to the coronavirus pandemic. Within the Middle East and Africa region, mobile payments is a popular alternative among 50 percent of the population, most of which is underbanked.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      The acquisition of Payguru by Tpay Mobile is a strategic partnership in the context of a global pandemic. It is also an alternative to around 50% of the population that is underbanked.
  • The FinTech sector in the Middle East and North Africa (MENA) region is also growing at a compound annual growth rate (CAGR) of 30 percent, much higher than the average global rate of 11 percent
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      The FinTech sector in the MENA region continues to grow rapidly with a compound annual growth rate much higher than the average global rate.
  • TPAY Mobile is a digital merchant acquirer that enables payments acceptance from more than 54 mobile payment types and wallets, which are connected to more than 580 million consumers. According to Sahar Salama, founder and chief executive officer of TPAY Mobile, the acquisition of Payguru will support their diversification and expansion strategy.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay Mobile already has a wide network of customers, but the new acquisition is part of the implementation of their diversification and expansion strategy.
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