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ghtazi

FinTech Strategic Review - Innovate Finance - The Voice of Global FinTech - 0 views

www.innovatefinance.com/...fintech-strategic-review

UK Financial Services

shared by ghtazi on 13 Feb 21 - No Cached
  • Innovate Finance is delighted to be supporting this strategic review of the UK FinTech sector. Over the last few months we have seen exponential growth and change in the adoption of digital financial services. We are at a pivotal moment with regards to our economy and now have a unique opportunity to reflect on the success of UK FinTech. We have the best in class in terms of innovation and should consider what more we can do to fully embed it within our wider financial services. We look forward to working with Ron Kalifa and stakeholders across the ecosystem to develop a shared blueprint for growth of the UK’s financial services sector that has technological innovation at its core
    • ghtazi
      ghtazi on 13 Feb 21
       
      Innovate Finance is delighted to be funding this UK FinTech industry strategic review. the company has seen exponential growth and changes in the adoption of digital financial services over the last few months. With respect to the economy, the company is at a crucial moment and now have a rare opportunity to focus on UK FinTech's progress.
omarlahmidi

The Snapscan effect: how mobile payments made QR codes relevant in South Africa - Memeburn - 3 views

memeburn.com/...codes-relevant-in-south-africa

shared by omarlahmidi on 11 Feb 21 - No Cached
  • “Mobile payment systems are quickly becoming mainstream, and it will be fascinating to see how the more mechanical systems like QR Codes compete,” says World Wide Worx managing director Arthur Goldstuck. “Ideally, there should be room for any system, with each one finding its ideal niche. But there are no certainties in a sector that is moving so fast.”
  • According to new research from technology research company World Wide Worx, the format first took off in the country thanks to BlackBerry Messenger, where it became the quickest way to add a friend. In the past year however gained new life as mobile apps like SnapScan roped it in for payments at small merchants, flea markets and the like. By the end of 2014, the research says, more than 2.1-million South Africans were using QR Codes. Of those 1.1-million were male, with female users only marginally behind, at 1.04-million.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      It is not always simple to develop a new concept. The article showed that applications for QR codes were struggling at first, but I believe that in order to offer a new efficient service, you have to work on your concept and develop it, and SnapScan did an excellent job with that.
  • ability to provide speedy payments without the need for the large-scale tech investments required by the payment technologies emerging in more developed areas of the world.
  • ...4 more annotations...
  • According to the research, QR Code usage is strongly age-related, with 673 000 users in the peak age group of 25-34. In contrast, the 15-24 segment amounts to only 471 000, while 494 000 are aged from 35 to 44. A similar number (425 000) makes up the 45-65 age group. Usage drops significantly with retirement age: the 65+ age group comprises 88 000 users. One possible reason for QR code mobile payment solutions such as Snapscan, Zappa, and FlickPay being so popular in South Africa is their ability to provide speedy payments without the need for the large-scale tech investments required by the payment technologies emerging in more developed areas of the world. This is especially the case with Snapscan, which supplies its merchants with a point of sale QR code and a basic mobile phone to track payments. This has allowed it, for instance, to be rolled out as parking payment method in Cape Town’s congested CBD.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Mobile payment systems are becoming popular quickly and the more mechanical systems like QR codes are successful it will be interesting to see. Ideally, I believe that every system should be able to find its ideal niche. But in a market that is evolving so rapidly, there are no certainties.
  • Flash back a few years and things weren’t looking great for QR codes.
  • Over the last year however, that’s changed in South Africa, largely thanks to mobile payment apps like SnapScan.
  • According to new research from technology research company World Wide Worx, the format first took off in the country thanks to BlackBerry Messenger, where it became the quickest way to add a friend. In the past year however gained new life as mobile apps like SnapScan roped it in for payments at small merchants, flea markets and the like.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan is a mobile payment that changed South Africa
  • hichamachir on 11 Feb 21
     
    Creating a new idea is not always easy. The article showed that QR codes apps were struggling at first but I do believe that you have to work on your idea and improve it in order to deliver a new efficient service and SnapScan did an amazing job with that.
  • hindelquarrouti on 13 Feb 21
     
    SnapScan made a good move in introducing Fintech to developing countries through using QR codes as they don't necessarily require large-scale tech investments that are used in developed area.
  • chaimaa-rachid on 13 Feb 21
     
    In the article, we notice that QR codes struggled at first, but in the end, they did a good job in developing and making their platform better and attractive.
mbellakbail69

Africa's Jumo raises $52M led by Goldman to bring its fintech services to Asia | TechCr... - 0 views

techcrunch.com/...jumo-raises-52m-led-by-goldman

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • Asia’s fintech scene is poised to get a little larger after Jumo, a company that offers loans to the unbanked in Africa, revealed plans to expand into the continent. To get the ball rolling, Jumo has opened an office in Singapore to lead the way and landed a massive $52 million investment led by banking giant Goldman Sachs to fuel the growth.
  • Asia’s fintech scene is poised to get a little larger after Jumo, a company that offers loans to the unbanked in Africa, revealed plans to expand into the continent. To get the ball rolling, Jumo has opened an office in Singapore to lead the way and landed a massive $52 million investment led by banking giant Goldman Sachs to fuel the growth.
  • mohammed_ab on 13 Feb 21
     
    After a great success in serving unbanked people in the African continent, Jumo is now expanding to Asia. The company secured $52 Million from Goldman Sach to finance this expansion.
mbellakbail69

JUMO breaks the US$2.5B disbursement mark in Africa and Asia - JUMO - 0 views

www.jumo.world/...sement-mark-in-africa-and-asia

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • This milestone has been reached just over 18 months after crossing the US$1B mark in 2019, and indicates exponential growth in the access to and availability of working capital for customers, with an average customer default rate of less than 5%. Andrew Watkins-Ball, Founder & Group CEO, said this achievement is evidence of the success of JUMO’s unique business model, its ability to reach unbanked populations and to provide market-leading infrastructure for financial services.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      JUMO partners with funders, banks and telecommunications companies to power a new generation of financial tools. The company was founded in London in 2015 and uses mobile wallet technology with data-driven credit prediction models to provide digital financial services infrastructure to partners, and products at scale to customers in emerging markets.
kaoutarchennoufi

Bank Deals - Fawry - 0 views

fawry.com/...bank-deals

CustomerRelationships Unique Engaged Deals

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • BenefitsOffering a distinctive integration and management service with various redemption channels. Giving our clients points at their top favorite brands. Providing Customer convenience and ensure a better experience. Increasing customers loyalty and retention through engaging activities and programs. Boosting disbursement pattern motivating them by earning and burning points.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      The good thing is that Fawry focus more on customers satisfaction rather than profits. Their aim is to ensure an unforgettable and unique experience for their customers by implementing engaging programs and different marketing strategies.
  • How it works?
  • InstallmentsAllow credit cardholders to benefit from every purchase by splitting the transaction into fix and equal installments based on the default ranges of 3, 6, 9- and 12-months installment plans. It can be offered in two ways: via POS at store. Via e-commerce websites through Fawrypay
  • ...1 more annotation...
  • Upon successful purchase the bank locks customer’s credit limit at the full amount, and within 1 working day after receiving the daily reports from Fawry, the bank will convert the transaction into installment plan and only charges the customer the monthly payment with/without interest depends on program type.
aymanelmamoun

How insurance in Africa can find success | McKinsey - 0 views

www.mckinsey.com/...ance-market-is-set-for-takeoff

Insurance E-Payment Africa FinTech

shared by aymanelmamoun on 13 Feb 21 - No Cached
  • frica is one of the world’s hot regions for insurance. Steady economic growth in most countries combined with a largely underdeveloped insurance sector have positioned the continent as the second-fastest-growing region for insurance globally after Latin America.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Insurance in Africa is considered a priority, thus many companies innovate in this sector by offering the customer the most valuable services.
kenza_abdelhaq

Egyptian fintech in 2020: A tale of crosswinds and tailwinds [Part One] - Wamda - 0 views

www.wamda.com/...2020-tale-crosswinds-tailwinds

Fawry Egypt Context Global Economic

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Fortunately, Egypt’s first Covid wave was milder than those in other countries. The country managed to get by without going into full lockdown and the country is now one of the few in the world with a positive gross domestic product (GDP) growth outlook for 2020. Despite the mild top-line hit, most startups still felt the impact of Covid-19, with a whopping 83.9 per cent indicating, in May, that they had been negatively impacted by the crisis. The same survey highlighted that 29 per cent of Egyptian startups had suspended operations – an alarming proportion that would have increased with the recent resurgence of the virus. It remains to be seen what the full impact of the second wave is.  
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Egypt managed to have a positive GDP growth in 2020 even though the pandemic impacted negatively more than 80% of the startups.
  • If we look back on 2020, the largest funding rounds for Egyptian startups were not in fintech but healthcare and transport, with Vezeeta raising more than $40 million and Swvl more than $20 million. Yet, fintech still managed to make headlines on several occasions, including new regulations, high profile investment rounds and exciting launches. It was an eventful and exhilarating year for the fintech ecosystem in Egypt.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Even though more importance was given to healthcare and transport with regard to the largest funding rounds, fintech was still getting a lot of attention (making headlines, new regulations, etc).
  • Fawry’s success story has undoubtedly encouraged investments in other e-payments venture that will help dynamise this space in coming years. The industry is still massively underpenetrated as cash remains king but will remain as one of the more active areas within fintech in coming years.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry being the leader of digital payments in Egypt definitely helped encourage investments in this field/industry.
  • kenza_abdelhaq on 13 Feb 21
     
    "Fortunately, Egypt's first Covid wave was milder than those in other countries. The country managed to get by without going into full lockdown and the country is now one of the few in the world with a positive gross domestic product (GDP) growth outlook for 2020. Despite the mild top-line hit, most startups still felt the impact of Covid-19, with a whopping 83.9 per cent indicating, in May, that they had been negatively impacted by the crisis. The same survey highlighted that 29 per cent of Egyptian startups had suspended operations - an alarming proportion that would have increased with the recent resurgence of the virus. It remains to be seen what the full impact of the second wave is.  "
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