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sawsanenn

Frontiers | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk P... - 0 views

www.frontiersin.org/...full

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • FinTechs and the Value Chains in the Financial IndustryIt is beneficial to remember how things worked before and after FinTechs and TechFins or big techs in the financial industry.Banking models are shifting significantly from a pipeline, vertical, paradigm, to modular solutions that pave the way to new banking paradigms that entail higher levels of openness toward third parties and a growing number of modular services bundled together.Value is created in platforms through economies of scope in production and innovation (Gawer, 2014). In order for platforms to work, adoption and network effects are essential. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. In particular, we assist both to the evolution of a Bank-as-a-Platform model and a tech-platform-driven model supporting banking and financial intermediation, which both constitute a new interesting field of analysis.Since the wave of digital transformation started entering the financial industr
  • , banking-as-a-business has started moving from a product/service perspective to more contextual solutions where providers are customer needs-driven. This is because customer-driven companies outperform the shareholder-driven ones, and this requires an outside-in approach.Having said that, it is beneficial to remember that digital transformation implies four main categories of innovation (product, process, organizational and business model) (Omarini, 2019, p. 340); all of them require rediscovering that a new strategy paradigm exists. This regards the concept of co-creation, and because of this no single firm can unilaterally carry out a process of continuous experimentation, risk reduction, time compression, and minimizing investment while maximizing market impact. Co-creation requires access to resources from extended networks (suppliers, partners, and consumer communities).Under these new market conditions, FinTechs have become an important piece of a bigger puzzle, each one in its own area of business (payment, lending, etc.), while at the beg
  • inning most of them started as mono-business companies. Only a few of them may become leaders in the market. On the one hand, there are those that make their strategy become international, and on the other, there are FinTechs which enlarge their services-scopes. However, the majority of them will become part of ecosystems where the direction could swing from banks to tech companies or to FinTechs as well, able to manage the network by developing kinds of conglomerate-as-a-service.Another interesting point to outline regards this recent period where all of us have experienced lockdowns around the world, and some effects have also impacted FinTechs as well. The valuations of most unicorns have crashed overnight, while on the FinTechs side there are different situations. Some of them have experienced a dramatic reduction in their
  • ...6 more annotations...
  • strategy development process, especially when the various units and individuals in the network must collectively execute that strategy. The key issue is this: balancing act between collaborating and competing is delicate and crucial” (Prahalad and Ramaswamy, 2004, p. 197).If co-creation is fundamental to the industry, this needs to leverage on a wider customer perspective that requires introducing the idea of developing ecosystems where the customer is truly free to move and choose the best deal in more competitive markets able to let consumers' ability to make informed decisions against any possible market concentrations among market providers.A business ecosystem (Moore, 1996) reflects the new paradigm of competition in a better way. Traditional management models aimed at gaining competitive advantage, such as vertical or horizontal integration, economies of scale and scope, are not effective anymore. The value of today's companies is determined by the size of its ecosystem (Tewari, 2014). Business ecosystems consist in crossovers of a variety of industries, of which companies cooperate and embrace open innovation to satisfy new customers' needs an
    • samiatazi
      samiatazi on 13 Feb 21
       
      Digital transformation implies four main categories of innovation: product, process, organizational and business model. FinTechs have become a significant piece of a greater riddle, every one in its own zone of business. The victors are those that have sufficient liquidity and money to purchase great innovation. This is particularly valid for installments that will be progressively contactless. Individuals costs and per-client commitment edge are key elements, and important markers. The more wellsprings of incomes an organization holds, the better it is for it to be a FinTech.
  • evaluation, others were quite lucky and suffered less.There are many and different feelings on the way FinTechs will exit this situation, which as far as we understand has overall accelerated some strategic choices.First of all, there are many and different FinTechs in the market. What is critical is to look at the fundamentals of the business. All of them are about answering what society is going to look like in the future (attitudes, behaviors, habits, etc.), so that if we no longer need to go to retail stores anymore, why do we need some services based on this situation? This, again, underlines that banking is a people business (Omarini, 2015) and this requires a business to be resilient to become adaptive to consumer changes or moves into a different market where you can still apply the service because the society is not yet ready to shift somewhere else, which means the same business in different markets. Just think of the ongoing situation where the recent wave of people is rethinking and restructuring their finances, so that they have decided to switch rates to digital banks. In this scenario, the winners are those that have enough liquidity—or better still cash-rich—to buy good technology and invest in new directions, also taking the opportunity to use the pandemic to its advantage. This is especially true for payments that are going to be increasingly contactless. However, some more les
  • sons can be learnt from difficult times especially due to external factors such as the following:- People costs and per-customer contribution margin are key factors, and valuable indicators. They are valuable for incumbents too. When staff costs rise, then this becomes a burden if growth is not going to move on. Then, if we move on the per-customer contribution margin (revenue, minus variable costs including credit losses), then this makes a FinTech earn more money per bank account than the cost of running those bank accounts.- One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.Under this oncoming market structure configuration, a focus on control and ownership of resources is giving way to the importance of accessing and leveraging resources through unique ways of collaboration. “The co-creation process also challenges the assumption that only the firm's aspirations matter. (…) Every participant in the experience network collaborates in value creation and competes in value extraction. This result in constant tension in the
  • One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can benefit so much from expanding its revenues streams. It lets the customers use the product or service in different ways which can't make them feel lazy to use a specific way.
  • The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process.
    • ghtazi
      ghtazi on 13 Feb 21
       
      FinTechs and TechFins have enabled new services to be launched and changed the way clients communicate to meet their financial needs. In the industry, the FinTech landscape is continuously changing.
  • They have brought to the traditional banking industry a wave of competition and broken pipeline value chains, unbundling them into different modules of products or services, which may be combined among themselves. These companies on the one hand and the BigTechs (Google, Facebook, Apple, Samsung, Alibaba, etc.) on the other have been forcing the industry to change, transform, and evolve in a set of new financial intermediation directions. Use of data and customer experience are both FinTechs' major assets and threats as well. On the one hand, they please the customers as individuals and introduce the paradigm of contextual banking. On the other, the two selling points are threatening both the incumbent players and regulators in different ways. For banks, it is even more urgent to react actively because their “no fee zone” is expanding, due to new regulations from the Consumer Financial Protection Bureaus (CFPB) and similar entities in different countries.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Since the digitalization wave entered the banking industry, financial institutions has begun to move from a product/service standpoint to more semantic alternatives where suppliers are pushed by customer needs. This is because the customer-driven firms outclass the investor ones, and this necessitates an outside strategy.
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.
chaimaa-rachid

WorldCover, an insurtech battling the effects of climate change - 0 views

insurtech.oliverwyman.com/...worldcover.html

insurance farmers wolrdcover

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • WorldCover is applying insurtech solutions to climate change—a challenging global problem. Using satellite data, on-ground sensing and innovative risk modeling, the company developed a climate and weather-linked insurance product. Today, WorldCover supports and protects farmers within developing countries, who are faced with some of the worst droughts in the world due to climate change.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover's platform uses satellite data and remote sensor technology to monitor rainfall, price risk and trigger claims quickly
  • “It’s about using insurance to get rid of risk for these farmers and unlock opportunities for them,” Chris says. He says that research found that for farmers who received insurance (rather than cash grants) borrowed and invested more in their farms.
ghtazi

Seven ways for financial institutions to react to financial-technology companies | McKi... - 0 views

www.mckinsey.com/...financial-technology-companies

Financial technology banks

shared by ghtazi on 13 Feb 21 - No Cached
  • Financial-technology companies are changing the face of finance. Over the past ten years, what started mostly as disruption in the payments space has expanded to every corner of finance. Even areas once assumed to be safe are seeing new entrants and competitive threats. Wealth and asset management, wholesale banking, capital markets, regulation and risk (“regtech”), and trade finance are just the most recent areas to see innovation driven by small technology-first players.
  • Whether fintechs ultimately win or lose significant market share may be beside the point; they are redefining customer expectations and continue to create new business models. As fintechs are frequently building their entire technology stacks from the ground up, they are highlighting incumbent financial institutions’ weaknesses not only in digital user experiences but also in operational efficiency. Whether a new digital brokerage wins or loses may not matter when customer expectations around brokerage fees change. A retail foreign-exchange fintech having 5 or 50 percent of the market may matter less than retail FX margins disappearing for everyone. Whether the next crops of “neobanks” disrupt retail banking may be less important than their highlighting for users and customers the possibilities of a modern, digital-first experience.
  • f your downside potential from disruptive threats. Incumbents can choose to invest in companies they partner with or to focus on areas they know well or interesting adjacencies. We frequently advise clients to find ways of keeping corporate venture-capital groups slightly at arm’s length to attract skilled managers, and we recently have seen increased interest in investing in established outside managers who focus on financial technology. Transform yourself to be more like a fintech. Digital transformation is a difficult but necessary process for most incumbent financial institutions. Redesigning core infrastructure to be more modular and dynamic, driving a new agile operating model, and upgrading technology and workforce skills are all necessary to compete with outside threats, fintech and otherwise. Build your own (internal) fintech. The road for transformations is normally measured in years, but the competitive threat from fintechs is today. Increasingly, we are seeing financial institutions try to beat fintechs at their own game or self-disrupt areas of their business before others can. The key to success in new digital business building is to combine the agility, speed, and talent of a start-up with the “unfair advantage” of an incumbent by leveraging existing assets (e.g. customers, distribution, or infrastructure). Serve the fintechs. A few financial institutions can find their competitive advantage in creating scaled, efficient technology and operations to enable others to embed financial services in their customer experiences. This “banking as a service” business model depends on finding a profitable path to white labeling but draws on the inspiration of large tech platforms. Enabling the customer experiences of others has quickly moved beyond just enabling fintechs to also working with big technology companies, retailers, telecommunications companies, and beyond. Ignore fintechs. Although ignoring the competition is rarely the right choice, some businesses are built on moats—frequently regulatory—that are difficult to disrupt or they play within narrow markets. Companies should prioritize where they need to focus and in doing so know when they need to pay attention and when they need to avoid the distraction of disrupters.
    • samiatazi
      samiatazi on 13 Feb 21
       
      New competitors and competitive challenges are seen also in areas once thought to be protected. The most recent sectors to see innovation are wealth and asset management, wholesale finance, financial markets, taxation and risk. Fintechs illustrate the gaps of digital customer interfaces and organizational performance of incumbent financial institutions. In order to deal with the Fintech challenge, incumbents can attempt to follow a mix of seven alternatives.
  • ...2 more annotations...
  • As we counsel the leaders of incumbent financial institutions, we often turn to seven potential reactions they can consider. Leaders can seek to pursue a combination of      these options: Buy a fintech. Strategic through-cycle M&A can be a powerful driver of growth even as valuations remain high, particularly among the most successful and largest fintech companies. Whether incumbents purchase a company for its traction (customer base, loan book), technology (user experience, core system, advanced data capability), or talent (engineering, product management, executive leadership), we frequently find that success depends on their developing strength in post-acquisition integration. Partner with a fintech. A carefully designed partnership can enable faster time to market and cost-efficient implementation, with the ultimate goal of enable enabling bottom-line business impact from accessing new customers or improving back-office processes. Invest in fintechs. Investing in fintech companies is frequently a way to learn more about the space and to hedge some o
  • Financial-technology companies are changing the face of finance. Over the past ten years, what started mostly as disruption in the payments space has expanded to every corner of finance. Even areas once assumed to be safe are seeing new entrants and competitive threats. Wealth and asset management, wholesale banking, capital markets, regulation and risk (“regtech”), and trade finance are just the most recent areas to see innovation driven by small technology-first players.
    • ghtazi
      ghtazi on 13 Feb 21
       
      what we can say is that even in the fintech world there is harsh competition, what once started as a disruption in the payments space has now been extended to every corner of finance. even the safest areas see new entrants and competitiveness. But even with all the pressure that they may encounter Fintechs always finds a way to redefine customer expectations and continue to create new business models.
kenzabenessalah

Cassava fintech - Crunchbase Company Profile & Funding - 0 views

www.crunchbase.com/...cassava-fintech

E-commerce Financial inclusion Africa

shared by kenzabenessalah on 12 Feb 21 - No Cached
  • Cassava is a specialised Pan-African Fintech company that delivers innovative digital transaction solutions across the mobile ecosystem. They endeavor to operate wherever money changes hands, with an ambition to drive financial inclusion, digital payments and lead the adoption of e-Commerce in Africa. Cassava is constantly looking for ways tointroduce solutions that bring developmental impact to a diverse range of African communities, thereby improving their quality of life. These solutions are delivered through our strategic partners such as mobile operators, whom we support in attaining their immediate and long-term strategic goals.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      It's inspiring how Cassava is doing the maximum to improve the quality of life in African communities. Introducing these financial services is already a big step.
  • kenzabenessalah on 12 Feb 21
     
    "Cassava is a specialised Pan-African Fintech company that delivers innovative digital transaction solutions across the mobile ecosystem. They endeavor to operate wherever money changes hands, with an ambition to drive financial inclusion, digital payments and lead the adoption of e-Commerce in Africa. Cassava is constantly looking for ways tointroduce solutions that bring developmental impact to a diverse range of African communities, thereby improving their quality of life. These solutions are delivered through our strat"
tahaemsd

WorldCover Raises $6 Million in Series A Funding to Provide Climate Insurance in Emergi... - 0 views

www.businessghana.com/...-Insurance-in-Emerging-Markets

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover has uniquely combined technological advances and developed a solution that allows us to support smallholder farmers caught in conditions that are worsening due to climate change," said Christopher Sheehan, WorldCover CEO and co-founder. “With the rise of many insuretech startups around the world, we are excited about this successful round of Series A funding as it enables us to accelerate growth in existing markets while working towards expansion into new regions. This will allow us to fulfill our ultimate vision of making the world more resilient to climate change”.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      worldcover is addressing the 50-100$ Billion in annual losses from natural disasters, of wich less than 1% is insured
kenza_abdelhaq

Robo-Advisors - Business Models and Strategies | ccecosystems.news - 0 views

ccecosystems.news/...business-models-and-strategies

Fintech Strategy Robot Advisors Investments

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • As mentioned in the last article, it is not possible to define exactly what a robo-advisor is, as the individual providers offer a range of services of varying breadth. In fact, robo-advisors have long since ceased to offer mere recommendations or advice, and most providers are steadily expanding their services into a fully integrated solution. Accordingly, people now associate a robo-advisor with a platform that can also be used to make an investment directly (see [Bloch/Vins 2017, 114]). However, this service, for example, is linked to certain regulatory requirements, which are presented below. It should be noted here that this is the regulatory framework in Germany. In terms of regulation, four business models can be distinguished in the area of robo advisory services:
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Since EasyEquities is about investment, having roboadvisors that provide financial advice would create more value to the company and would target more segments.
  • investment brokerage (german: Anlagenvermittlung),investment advice (Anlagenberatung),acquisition brokerage (Abschlussvermittlung), as well asfinancial portfolio management (Finanzportfolioverwaltung), also known as asset management.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt summarizes the business models that can be distinguished in the area of Robo-advisory services. The main difference between these business models lies in who is responsible for making the investment decision.
  • Robo-advisors can follow an active or passive investment approach not only in terms of their product range, but also in the composition of the individual products. In active management, for example, the market is constantly monitored and, on the basis of this, the securities that appear to be most advantageous at a given time are included in the portfolio. This targeted approach is described as so-called “stock picking” (see [Müller/Pester 2019, 229f]). Due to market fluctuations, there are thus regular purchases and sales of securities with the aim of achieving a higher return than the passive market. In the course of this, the percentage distribution of the asset classes in the portfolio can also be continuously adjusted and regular risk assessments carried out. As a result, the portfolio may be subject to constant change. The passive management approach is based on the strategy of maintaining the portfolio created at the beginning, including the asset allocation and the defined securities, unchanged and independent of market fluctuations. If a change in asset allocation should occur due to market fluctuations, the original state can be restored through various adjustment methods, also called “rebalancing”. In contrast to active management, this adjustment is not carried out on an ongoing basis, but at predetermined times or according to specific rules. In so-called “periodic rebalancing”, a restoration of the asset allocation is carried out as needed at the time of a previously defined temporal interval change. Another variant of rebalancing provides for an adjustment only if the portfolio value exceeds or falls below a previously defined mark, the threshold
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt distinguishes between Robo-advisors' active investment approach and passive investment approach, based on their product range but also on the composition of the individual products. Understanding the difference between the two approaches would allow us to better formulate strategies that incorporate Robo-advisory in them.
  • ...1 more annotation...
  • Online asset management has been experiencing a rapid rise in Germany for several years. Since 2017, the number of users has grown by a factor of 7 from around 291,000 in 2017 to around 2.01 million in 2020 (cf. o.V. 2020), while the investment volume has increased more than tenfold from around 756 million euros to 8.068 billion euros (cf. o.V. 2020). Two factors in particular are key to this trend
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      robo-advising or online asset management has been growing rapidly during the past years due to loss of trust in personal banking advisors amid the 2007 financial crisis and the new generation that prefers digital interactions.
mehdi-ezzaoui

This startup has a simple plan to de-risk small-scale African farming | The Optimist Da... - 1 views

www.optimistdaily.com/...sk-small-scale-african-farming

PULA Fintech Service

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • African agriculture, especially small farms, have not had it easy over the past few years. Droughts, pests, floods, and local conflict have exacerbated challenges for many food producers. This is why insurtech startup Pula is working to provide small farmers with insurance to help manage the implications of climate change and other environmental uncertainties. The startup begins the farming season by sending representatives to farms to gauge the potential yield of the season. Pula then sends this estimate to insurance companies to generate a policy offer. According to Pula, the initiative has been so successful because in every African country they have worked in, there are insurance companies willing to support their initiative.
  • mehdi-ezzaoui on 13 Feb 21
     
    "African agriculture, especially small farms, have not had it easy over the past few years. Droughts, pests, floods, and local conflict have exacerbated challenges for many food producers. This is why insurtech startup Pula is working to provide small farmers with insurance to help manage the implications of climate change and other environmental uncertainties.  The startup begins the farming season by sending representatives to farms to gauge the potential yield of the season. Pula then sends this estimate to insurance companies to generate a policy offer. According to Pula, the initiative has been so successful because in every African country they have worked in, there are insurance companies willing to support their initiative."
  • mehdi-ezzaoui on 13 Feb 21
     
    Insurtech is one of the fastest growing fintech sectors. Pula recently raised $6 million in a Series A fundraising and plans to expand its innovative business model to Asia soon.
mehdi-ezzaoui

FinTech evolution: Strategic value management issues in a fast changing industry - Asht... - 0 views

onlinelibrary.wiley.com/...jsc.2203

Fintech strategic value

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • The FinTech revolution captures the simultaneous attack of a large number of technologies, notably mobile telephones and blockchain, which are ushering in efficiency or outreach to multiple niche markets. The use of mobile telephone technology has expanded Internet reach to the excluded, created possibilities for business where banks were not historically present and is potentially disruptive.
  • mehdi-ezzaoui on 13 Feb 21
     
    Fintech strategies to overcome changing industry
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.
aminej

About - Pula - 0 views

www.pula-advisors.com/about

Farmers Agriculture Africa Fintech Mobile Service Online Protection

shared by aminej on 12 Feb 21 - No Cached
  • Farmers in emerging markets face challenges with low productivity. Due to the risks they face from ongoing climate change, pests and diseases, farmers struggle to find financial stability. Pula is at the center of an ecosystem that helps them manage their risks with insurance and digital solutions.
    • aminej
      aminej on 12 Feb 21
       
      PULA offers insurance to farmers who are in difficult positions and who suffer from different type of risks such as climate change and natural disasters. It is good for small holder farmers since they will be more protected against losses.
hindelquarrouti

Fawry changing the culture of payment in Egypt: Top management - Daily News Egypt - 1 views

dailynewsegypt.com/...e-payment-egypt-top-management

fawry Fintechs Services

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • our solution is based on high technology and based on Service Oriented Architecture (SOA) standard. We are highly available and our system is scalable as it can carry huge numbers of transactions. We are now certifying for the Payment Application Data Security Standard (PA-DSS) for security development and we’re following the standards of the Interactive Financial Exchange (IFX), ISO27001 and other different standards related to technology and security. Our solution is based on applying the latest technology, following the latest standards and being reliable. Moreover we allow easy access through more channels than competition to satisfy our customers’ needs. Also we’re covering more sectors and providing more services than our rivals.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The business aims to be creative as much as possible and to make all its offerings very realistic in order to make it simpler for its customers. Fawry cares a lot about the happiness of its customers. I believe Fawry recognizes the value of customer loyalty and how it allows an organization to retain profitability.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.1 Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • ...1 more annotation...
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post. Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • chaimaa-rachid on 11 Feb 21
     
    Fawry cares a lot about the satisfaction of its customers, the company tries to be innovative as much as possible and to make all its services very practical in order to make life easier for its customers. I think Fawry knows the importance of customer satisfaction and how it helps a business maintain sustainability.
  • hindelquarrouti on 13 Feb 21
     
    Fawry is gaining more and more popularity in Egypt. Also, it has developped two methods of payments: 1) anonymous: in which customers can pay their bills without actually revealing their identity. 2)Account creation: in this case the customers need to create an account with Fawry; this last one makes the process much easier for the customer
tahaemsd

Insurtech startup to provide affordable insurance for farmers | Fraud & Cybersecurity |... - 0 views

www.fintechmagazine.com/...e-affordable-insurance-farmers

FinTech Africa Service modernization climate change

shared by tahaemsd on 12 Feb 21 - No Cached
  • Across the globe, smallholder farmers lose between $50 billion and $100 billion annually, often from natural disasters, but reportedly only 1% is insured from these accidents. As an example, in Feburary 2019, the company made several payouts to farmers in Kenya as poor rainfall caused large amount of crop failure.
  • Jason Schapiro, WorldCover Lead Engineer, said “Our algorithms are specifically calibrated to rainfall events by region and crop type, automatically triggering instant payouts to insured farmers through mobile money services like M-Pesa.”
  • World Cover is an insurtech startup which provides satellite-enabled climate insurance to smallholder farmers. The company was originally founded in 2015 as a fintech marketplace for climate insurance, and has consistently grown since then, providing support to many areas of Africa. Unlike traditional insurance companies, which require lengthy in-person evaluations, the company consolidates data on weather and crop yield obtained from satellites
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      WorldCover startup has continued to expand its services across AFRICA
  • mohammed_ab on 12 Feb 21
     
    We can understand from the article, that there is a big market for fintech insurance companies. According to the article, farmers around the world lose between $50 billion to $100 billion just because of climate change. World Cover has seen that there is a great potential for growth in this industry and took the opportunity.
kaoutarchennoufi

M-PESA Tips - Safaricom - 1 views

www.safaricom.co.ke/...m-pesa-tips

PIN Safety Security

shared by kaoutarchennoufi on 12 Feb 21 - No Cached
  • M-PESA Tips Tips Safaricom investigates all reported cases of fraud or attempted fraud on the network; and our dedicated Fraud team works together with the relevant authorities to seek legal address where appropriate. Fraudsters are known to use tactics that take advantage of customers; they require you to provide information or do something yourself.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa's partner Safaricom is responsible of any fraud that customers might face. This a good way to show that the company cares about customers data and want to keep it safe. I think that protecting the privacy of customers data is very crucial in the company's success
  • Check M-PESA balance When you perform an M-PESA transaction, you will receive a text message that confirms your transaction and tells you your new balance. You can also check your M-PESA balance by going to “My account” on the M-PESA phone menu.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Safaricom, M-affiliate, Pesa's is responsible for any fraud that customers may face. This is a good way to demonstrate that the organization cares and wants to keep consumer data secure. I believe that preserving consumer data privacy is very important to the success of the business.
  • Your M-PESA PIN is used to protect the money in your M-PESA account. You have to key in your PIN before you can perform any M-PESA transactions, so choose a PIN that you can easily remember. Use a PIN that is not easy for other people to guess, and do not share your PIN with anyone, not even Safaricom staff. You can change your PIN at any time by going to ‘My account’ on the M-PESA phone menu. 
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      M-Pesa cares more about the security of its clients and ensure their safety by providing them with a unique PIN that they need to enter before performing any transaction.
  • ...1 more annotation...
  • Your M-PESA PIN is used to protect the money in your M-PESA account. You have to key in your PIN before you can perform any M-PESA transactions, so choose a PIN that you can easily remember. Use a PIN that is not easy for other people to guess, and do not share your PIN with anyone, not even Safaricom staff. You can change your PIN at any time by going to ‘My account’ on the M-PESA phone menu. 
tahaemsd

WorldCover gains $6m fund to offer climate insurance in emerging markets - 0 views

www.lifeinsuranceinternational.com/...worldcover-climate-insurance

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover CEO and co-founder Christopher Sheehan told Business Ghana: “WorldCover has uniquely combined technological advances and developed a solution that allows us to support smallholder farmers caught in conditions that are worsening due to climate change.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover intends to invest proceeds to ofer coverage in additional emerging markets
ayoubb

SmartelMoney | About Us - 2 views

smartelmoney.com/about

shared by ayoubb on 07 Feb 21 - No Cached
  • Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world. We also aim to improve the quality of cloud computing (payment as a service) and interaction between computers and people to achieve their payment processes.
    • kenza_abdelhaq
      kenza_abdelhaq on 07 Feb 21
       
      Smartel Money Ltd provides a range of financial services (mobile payments,savings, lending, transfers) for different customer segments including banked and unbanked individuals and societies. It mainly uses cloud computing and the use of computers for payment processes.
  • Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems.
    • aminej
      aminej on 12 Feb 21
       
      Smartel Money is a very competitive application in the market when it comes to E-payments services and many other products thanks to the very low costs and convenience in using the platform. They will also connect people in rural areas to different part of the continent and even the world in order to get access to funding and credit
  • Smartel Money Ltd is company that is rooted in the Kingdom of Lesotho. The aim and focus of Smartel money is to provide mobile payment services, savings & credit and monetary transfers and serve thus as an alternative to traditional banking systems. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world. We also aim to improve the quality of cloud computing (payment as a service) and interaction between computers and people to achieve their payment processes. Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      The core element of Smartel Money is to provide a simple and reliable payment system and provide credit to the customer base whilst in that regard providing competitive prices around the clock.
  • ...2 more annotations...
  • SmartelMoney | About Us
    • ayoubb
      ayoubb on 13 Feb 21
       
      Smartel Money LTD
  • SmartelMoney | About Us
    • ayoubb
      ayoubb on 13 Feb 21
       
      Smartel Money LTD
  • mehdibella on 08 Feb 21
     
    There are 5 reasons why this company is being used: Low cost lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. they have kept fees as low as possible - they are the most affordable option on the market. Easy To use you get to use the platform that you are most comfortable with, app, USSD codes, or internet, no need to cram codes that run forever if it doesn't work for you. It's Convinient YOU CAN DO IT ANYTIME ANYWHERE Use My Wallet anytime anywhere for anything, money transfers, bills, airtime, groceries, fuel. See, easy! It's safe When you use my Wallet Services, you are not bound to any carrier, you can even use it without any carrier, bring your ID or passport. Secure Uses accredited national banking security and standards to protect your money whether you are transacting or not.
mbellakbail69

Fawry: Making Payments Easier For 22 Million Egyptians | EgyptInnovate - 1 views

egyptinnovate.com/...ts-easier-22-million-egyptians

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • echnology and its trends has made our lives easier especially in the fields of financial technology and payments. Now there are more advanced ways of payments and one of the most important players in Egypt in this field is Fawry. Fawry offers financial services to consumers and businesses through different channels and locations. Through Fawry you can pay your mobile, landline and utilities bills, donate money, renew your car license and more. Fawry was founded in 2008 and officially started in the market in 2010. They now have offered their service to reach 80,000 points of service in 300 cities all over Egypt. Their portfolio of businesses include: Orange, Vodafone, Etisalat, Go Bus, Lynks, Anghami, Ahl Misr Foundation, Resala and more
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry made sure to regroup the strongest team from the beginning to work smoothly on the project. Also, they worked hard on changing the culture within the country, and push people to go for non traditional payment methods.
  • We started by hiring the best people we could find, for any startup to succeed it needs a really strong team especially at the beginning. We also got a good fund at the beginning from different entities such as Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and other banks, this is what helped us build our brand.
  • Strong team management and good negotiation skills. The second thing is that it was a mutual investment fund, those investors already liked Fawry’s model and didn’t want to change anything but just help accelerate our growth with some cash. We are now a large corporate but with the spirit of a startup. Even until now, we appreciate everyone’s input at the company whether they have been working here for a month or 5 years. it doesn’t matter.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Fawry was the only one investing in the business during that time.
  • mohammed_ab on 13 Feb 21
     
    I like how this excerpt underlines the different investors who believed in the value proposition of Fawry from the beginning. We see big names like HSBC that saw the potential of the idea and invested in the start-up.
mehdibella

AgroCenta - Greentec - 0 views

greentec-capital.com/...agrocenta

ghana Fintech Agrocenta

shared by mehdibella on 12 Feb 21 - No Cached
  • AgroCenta brings all the stakeholders in Ghana’s agricultural value chain together to facilitate effective trading within its web and mobile platform. They target rural smallholder farmers and farmer-based organizations that have limited access to markets, logistics, or technology. AgroCenta works to improve the livelihoods of farmers by providing an all-in-one SMS based solution to access commodity pricing, offer goods for sale across Ghana, and an on-demand logistics service to ensure timely deliveries.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      I really admire the concept of AgroCenta because it is able to give smallholder farmers an opportunity to expand their business, which would then aid in providing for their families.
  • Agrocenta tackles some of the main market inefficiencies and challenges to growth for smallholder farmers within the agriculture value chain in Ghana and West Africa. Agrocenta works to improve the limited access to market information, to reduce the exploitative behaviour of local buyers and middlemen and to improve the transportation and logistics linkages between small rural sellers of agri production and the larger urban markets.
  • Business Model
  • ...5 more annotations...
  • Agrocenta draws its revenue streams from the price difference between purchase prices (from smallholders) and prices sold to large off-takers. Agrocenta mobilizes a local network of agents and scouts, who work directly with the local farmer communities and engage in the pre/post-harvest process.
    • mehdibella
      mehdibella on 13 Feb 21
       
      Agrocenta's passion to change the face of agriculture in Africa is built on 3 core values, closely aligned with 3 SDGs. Agrocenta aims to create livelihood empowerement for smallholder farmers, help increase farmers' incomes and thus help reducing poverty.
  • Agrocenta’s passion to change the face of agriculture in Africa is built on 3 core values, closely aligned with 3 SDGs.
  • Agrocenta aims to create livelihood empowerement for smallholder farmers, help increase farmers’ incomes and thus help reducing poverty. Agrocenta aims to help ensure sustainable food security by working to reduce inefficiencies in the agricultural value chain. Agrocenta also aims to contribute towards gender equality by working with many female farmers.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      AgroCenta is actively working on empowering small farmers, reducing poverty, ensuring sustainable food security, and contributing to gender equality.
  • Agrocenta draws its revenue streams from the price difference between purchase prices (from smallholders) and prices sold to large off-takers. Agrocenta mobilizes a local network of agents and scouts, who work directly with the local farmer communities and engage in the pre/post-harvest process.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows how agrocenta encourages smallholders farmers to develop their businesses and face challenges by offering them many financial solutions.
  • Products and Services A comprehensive agricultural services platform including: AgroInfo: provides realtime agricultural information and market prices to smallholder farmers AgroTrade: online trading platform offering ability to buy and sell agricultural commodities TruckR: on demand logistics solutions to deliver agriculture goods from rural aggregation points to urban markets and buyers AgroPay: financial platform allowing farmers to transact digitally
    • ghtazi
      ghtazi on 13 Feb 21
       
      these are the Products and services of agrocenta: agroinfo, agrotrade, truckr, and agropay.
mehdibella

FarmDrive Helps Unbanked Farmers in Kenya | The Borgen Project - 0 views

borgenproject.org/farmers-in-kenya

Fintech Farmdrive kenya

shared by mehdibella on 12 Feb 21 - No Cached
  • FarmDrive combats this lack of financial visibility by calculating alternative credit scores for Kenyan smallholder farmers. The startup requires users to input their expenses, revenue and yield via SMS and creates a platform for farmers to record business activity. FarmDrive then uses a complex algorithm to combine individual financial information with additional factors like the climate in the farmer’s region.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      farmdrive eliminates some of the risk for banks by considering both the self reported financial history of farmers as well as exogenous variables that will affect their crop yields
  • By accruing farmer data, FarmDrive eliminates some of the risk for banks. FarmDrive has partnered with African financial firms who accept their alternative credit scores and determine appropriate loans for smallholder farmers. Lending institutions thus consider both the self-reported financial history of farmers as well as exogenous variables that will affect their crop yields.
    • mehdibella
      mehdibella on 13 Feb 21
       
      FarmDrive collects data from farmers via and combines it with satellite imaging, alternative data points to create detailed yield estimates and assess credit risk.
  • FarmDrive depends on aid organizations, like USAID, and private firms that operate in the agricultural industry. FarmDrive is expanding its data collection through new partnerships with Planet, a satellite company, and The Impact Lab, a data analytics group, to potentially incorporate climate information gathered via satellite imagery into its algorithm.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      In addition to financial firms, FramDrive partners up with aid organizations, private firms operating in the agricultural industry, satellite company, and a data analytics group.
  • ...1 more annotation...
  • There are 50 million smallholder farmers in Kenya, but less than 10 percent of this population has their economic needs fulfilled by traditional lenders. The agricultural sector makes up 32 percent of Africa’s GDP and employs 65 percent of its population, but less than 1 percent of bank lending goes to agriculture. Worldwide, there is an estimated $450 billion agricultural lending gap. African smallholder farmers face barriers to traditional lending because they are labeled high-risk borrowers by financial institutions. Traditional banks use credit scores and bank statements to determine a loan applicant’s riskiness. However, the average farmer in Africa cultivates fewer than five acres of land and owns no collateral or financial records.
    • aminej
      aminej on 13 Feb 21
       
      Unfortunaely for most farmers, they can't access credit from traditional banks because they are considered as high risk borrowers since they face many risks such as climate change, theft, lack of fertilizers. Now, through farmdrive everything changed with these new Fintechs who started giving more importance to farmers
kaoutarchennoufi

SmartelMoney | Products & Services - 0 views

smartelmoney.com/products-services

CustomerBase Wide LoyalCustomers WoM

shared by kaoutarchennoufi on 10 Feb 21 - No Cached
  • Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world.
    • sawsanenn
      sawsanenn on 10 Feb 21
       
      the benefits of using the application include; that business people will get new customers and widens the reach of their market base as it will be very easy to pay or receive cash conveniently.
  • Are acronyms for the Smartel Money Point of sales system and the Smartel Money Mobile point of sales systems respectively. These are the application systemsthat have access an access to the Smartel Money central engine. The sPOS runs on the normal desktop or a laptop computer, This system is connected to the Smartel Money central system, this system is used by the stationery merchants such as the grocers and has the capacity to parse smartel money as a payment instrument. The merchant may also chose to have the ERP linked to their sPOS. The smPOS is meant for the non-stationery merchant, as it runs on a mobile platform that is the iOS and android OS. Both the sPOS and the smPOS can use the CPEM and the security code scanning/tagging parsing technologies.
    • aminej
      aminej on 12 Feb 21
       
      They also thought about everything when it comes to safety measures since it is very important to comfort people that their money are in safe hands. Indeed, these measures are important to take in order to avoid a leak of information which could cause many issues to the Fintech
  • Smartel Money customer base comprises banked and unbanked people and societies, insurance, retail grocery, retail clothing, retail cell phone services, utility services etc. We aim to provide to individuals, institutions, organizations, multi-industry sectors and governments with the cutting edge, fresh and innovative financial management system in this ever changing world.
    • kaoutarchennoufi
      kaoutarchennoufi on 12 Feb 21
       
      Another added value of Smartelmoney , is that it has a wide customer base including banked and unbanked people in addition to other organizations. I believe that this large customer will gives the organization a better chance of reaching out to more people and expanding the base. Loyal customers are always effective in spreading a good word of mouth which will eventually attract more customers.
  • ghtazi on 10 Feb 21
     
    It will also help them to improve their brand image as they will be able to market their businesses by advising clients with the easy way of paying and receiving money..
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