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kenzabenessalah

Cassava fintech - Crunchbase Company Profile & Funding - 0 views

  • 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
       
      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.
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    "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"
mohammed_ab

EasyEquities working on life insurance for its young clientele - 0 views

  • EasyEquities, one of SA's biggest online share-buying platforms, has set its sights on disrupting the traditional life insurance sector, with plans in the next 18 months to launch a new product aimed at its young customer base.Charles Savage, CEO of JSE-listed Purple Group, which owns 70% of EasyEquities, said the group realised there was a gap in the market after its annual customer survey found most of its subscribers were underinsured.
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    I believe that this is a smart move from EasyEquities. The majority of brokers and investment platforms don't really care about the performance of their customers as long as those customers are making transactions. Offering an insurance product to its young customer base will increase its customer loyalty along with a new revenue stream.
mohammed_ab

Electronic Transactions Reshape Egypt's Economy - 3 views

  • The rise of online banking around the world has helped other economies solve these very challenges. Cash, for example, is hard to transport. Coins and bills are prone to theft, and their use makes dodging taxes easier for those so inclined. For individuals who must pay in person, getting across a gridlocked city like Cairo is logistically difficult. Together, these problems can constrain an economy. In Egypt, where 94 percent of all transactions were cash as recently as 2014, such a system stymies economic growth.
  • Fawry is part of a new wave of technology companies ushering Egypt into the digital age. Many of these firms are helping transform industries like banking, health care, and transport, and in the process creating good jobs for young Egyptians, more than 30 percent of whom are unemployed.
  • Sabry, a former salesperson at IBM Egypt, launched Fawry because he knew these issues kept Egypt’s economy from achieving its promise. The early years were lean as the company worked to convince tech-wary Egyptians that Fawry’s systems were secure—and that their money wouldn’t disappear into an electronic void.
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  • “Time is of the essence, and Fawry saves me a lot of it,” says Shawky, who owns three electronics stores in the Egyptian capital.
    • kenzabenessalah
       
      Fawry is available for its customers day and night which attracts a large range of people.
  • It was something that Cairo-based shop owner Nader Shawky had come to dread: paying his phone bill. Every month, he trekked to the offices of his mobile provider where he and dozens of others stood in line—sometimes for up to two hours—to settle their bills. It was, he admits, a maddening process.
    • samielbaqqali
       
      By providing online banking financial administrations that allow you to cover your bills, transfer cash, and access a record of your checking account transactions from your internet browser, Fawry makes the life of its clients less difficult. Banking from anywhere, at any time of day or night, makes it a little easier to do anything you do about your finances.
  • Fawry, a fast-growing Cairo-based company that specializes in electronic payments, makes it possible for Shawky to take care of his accounts online.
  • Fawry’s growth has had a profound effect on Egypt’s economy, says Akef el Maghrabi, the vice chairman of Banque Misr, one of Egypt’s biggest banks and an early Fawry partner. “When you eliminate or reduce the reliance on cash, then you fight corruption, you provide convenience, you lower costs, and you grow the economy. [Electronic payments] do a lot of good for the country.”
    • ayachehbouni
       
      With a system that relies mainly on cash transactions, the economy faces too many challenges that stops its growth and development. For instance, cash is hard to transport, coins and bills can easily be stolen, and their use makes dodging taxes and corruption easier.
  • IFC invested $6 million in Fawry in 2013 and helped guide founder Ashraf Sabry and his team as they built their business. Now the 12-year-old company handles 2.5 million transactions a day. In 2018 Fawry processed 40 billion Egyptian pounds (about $2.5 billion) in electronic payments. Earlier in 2019, Fawry became Egypt’s largest financial technology firm to list on the national stock exchange. It now employs 1,600 people.
    • samielbaqqali
       
      By providing online banking financial administrations that allow you to cover your bills, transfer cash, and access a record of your checking account transactions from your internet browser, Fawry makes the life of its clients less difficult. Banking from anywhere, at any time of day or night, makes it a little easier to do anything you do about your finances.
  • As the Fawry network grew, shop owners who installed the system saw significant benefits, too. Fawry’s terminals drew new customers into stores, providing the consumer traffic that is the lifeblood of small shops. Mahmoud El Rawy, a grocery store owner and father of three, can attest to that. His shop struggled until he installed a Fawry payment terminal. “Fawry has had a big impact on my business,” says El Rawy, who now owns three supermarkets. “It helped bring me more customers and it’s why many come to me now.”
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    Fawry is making the life of its customers less difficult by offering online banking financial administrations that empower you to cover your bills, move cash, and access a record of your checking account transactions from your internet browser. Banking from anywhere, at any time of the day or night, makes all what you do with your finances somewhat simpler.
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    Fintech is providing a very fast business and customer are really satisfied with it. I think that fast service is the main objective of Fintechs.
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    Fawri is helping Egyptians in handling their bills online rather than spending hours on this kind of processes if done traditionally.
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    It's interesting to see that Fawry has a positive impact on its customers but also its business partners like small show owners.
mbellakbail69

Fawry | IBM - 3 views

  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
  • The technology offers data compression and deduplication features that enable Fawry to boost utilization of storage resources. Abbas adds: “IBM FlashSystem A9000R offers much greater performance than our previous storage platform, meaning that we get both optimized data economics and short response times. We were able to achieve a seamless migration to the new platform with zero downtime.”
  • Each day, Fawry processes 2 million financial transactions, giving Egyptians an easy, secure payment alternative to the complex, time-consuming procedures that are the norm. To help grow customer satisfaction and speed the roll-out of new services, Fawry deployed IBM® Storage, IBM Db2® and Oracle database on IBM Power Systems™ solutions.
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  • With a population of over 100 million people, Egypt is a land of opportunity for consumer services providers. In a country where payment procedures are often slow, fragmented and complex, Fawry identified a gap in the market for a simple, secure omnichannel payment gateway.
    • nouhaila_zaki
       
      This excerpt is important because it introduces the need that Fawry was created to tackle and the market gap that it saw as an opportunity to prosper. It is very important to understand the core problem around which Fawry services were designed, in order to be able to design and develop strategies that are faithful to this same goal.
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
    • samielbaqqali
       
      Fawry strives to make the life of their customer simpler. They have an e-commerce solution that links sellers to buyers that provide different methods of payment.
  • Fawry Putting Egypt on the global digital payments map
  • The company’s success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution.
    • kenza_abdelhaq
       
      Fawry focuses on fast and dependable services based on innovation. The company also works on making better use of the data collected to make informed decisions; while keeping in mind the importance of a good technology infrastructure ready for the implementation of any new phase.
  • Haytham Abbas, Infrastructure Director at Fawry, picks up the story: “When we launched in 2008, the average household had to deal with around 13 separate utility and service providers. Since they typically had to set up payments with each service provider separately, often by visiting a branch, this was a lot of hassle. We created an omnichannel digital payment network to make life easier for consumers and the businesses that serve them.”
  • Fawry has a long history with IBM, having chosen IBM solutions to underpin its business again and again over the last decade. The company relies on both IBM Db2 and Oracle database software running on IBM Power Systems to support its bespoke electronic financial platform, processing 2 million transactions per day. “Together, IBM Db2, Oracle database and IBM Power Systems solutions give us the ability to process huge transaction volumes,” comments Abbas. “They provide a powerful foundation for our business, and have scaled seamlessly as we’ve grown.”
    • mbellakbail69
       
      To ensure that it selected the best offerings on the market for its latest refresh, the company's IT team undertook a thorough evaluation of storage and server options from multiple vendors.
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    Fawry aims to make their client's life easier. They have an e-commerce solution that connects sellers with buyers offering various payment methods.
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    The success of the compnay relies on its partnerships. Fawry's partnership with IBM is brilliant because IBM can offer Fawry some advanced technology that can help improve the business.
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    Fawri is a secure alternative to the traditional procedures. It is user friendly and Egiptians are benefiting from it.
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    "The company's success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution."
aymanelmamoun

Standard Bank SnapScan - The quick, reliable, and secure payment solution for your busi... - 0 views

  • SnapScan lets users make payments with their phone – quickly, easily, and safely. All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase.
    • mbellakbail69
       
      SnapScan provides an easy solution that is highly ideal for small and medium-sized companies anywhere and at any time. In times where electrical payment systems are not available, SnapScan is also a great solution.
    • omarlahmidi
       
      SnapScan make customer's life easier by online payments, sending money to friends.
  • All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase
    • aymanelmamoun
       
      SnapScan is very innovative in the way that they offer QR code scanning to pay. Payment with camera allows the customer to pay bills, prepaid app-services, earn rewards, etc.
  • SnapScan is compatible with most bank cards, as well as the Standard Bank Virtual Card, and as a result is currently one of the most popular mobile payment apps in South Africa.
    • omarlahmidi
       
      SnapScan make customer's life easier by making online payments and sending money to friends.
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  • SnapScan lets users make payments with their phone – quickly, easily, and safely. All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase.
kenza_abdelhaq

AgroCenta CEO on the Challenges of Entrepreneurship in Ghana - 0 views

  • Does being an entrepreneur in Ghana – and in a developing economy in Africa – presents any ulterior challenges you had overcome?Being an entrepreneur in Africa and in emerging markets, in general, is quite difficult because of the lack of structure and supports put in place by the government. It requires a lot of courage and persistence to get the simplest things done. Any simple tech solution that you might want to build can end up being a very complex challenge because it relies on services that do not exist or don’t work properly. Access to funding also remains a big problem for many entrepreneurs who will need money to test, pilot and scale a platform or a solution. Many investors are quite held back when it comes to making investments in Africa for an obvious reason: corruption.
    • nouhaila_zaki
       
      This excerpt is important because it reflects the challenges faced by AgroCenta in Ghana, i.e. corruption, lack of financing, lack of proper infrastructure, lack of government help, among other things.
  • Our business model is simple, we are a B2B business that generates commission fees on trade volumes from the businesses we work with.
    • nouhaila_zaki
       
      This excerpt is extremely important because it clearly states the business model of the company.
  • we are definitely improving the financial livelihood of smallholder farmers through fair trade. Many smallholder farmers are paid less than $1 a day and our objective is to increase it to $4 a day by 2020.
    • kenzabenessalah
       
      AgroCenta is an extremely important concept because it is helping to increase farmers' salaries. Going from $1 a day to $4 a day is already an improvement.
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  • AgroCenta focuses on 3 key impact goals for Ghana:No Poverty: Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • mehdibella
       
      as you can see this company cares a lot about the livelyhood of their farmers and is trying to provide them only with the best features that would make life easier which in fact the main things that they tackle in the SDGs.
  • Seedstars Summit has been phenomenal. It has put AgroCenta on a pedestal and in the spotlight of a huge community in Africa. The experience after the Summit has been amazing: we received a lot of proposals from potential investors, partners and other service providers keen on working with us for growth and expansion.
  • Winning the vote of the entire jury, AgroCenta from Ghana was crowned the Seedstars Global Winner of the 5th edition of Seedstars Summit. At Seedstars, we are convinced that AgroCenta will shape the future of AgriTech in Africa. Indeed, the start-up’s mission is to improve the financial livelihood of smallholder farmers through fair trade.
    • aminej
       
      Agrocenta will have a great impact on farmers in Africa since it will enable them to protect their production and have an insurace in case of any risks. It will also help them regulate the market of agricultural products in order to set a price for each one
  • We identified a missing gap in the value chain that was the capacity to access the market for smallholder farmers after they have successfully cultivated their commodities. Access to the market was a huge problem for millions of smallholder farmers.
    • kenza_abdelhaq
       
      AgroCenta is fulfilling a market gap that is the need for smallholder farmers to access the market.
  • AgroCenta focuses as well as Seedstars on achieving the Sustainable Goals set up by the UN
    • sawsanenn
       
      one of the main goals is to reach economic growth by empowering smallholders farmers to see agriculture not only as a survival solution but as an investment
  • Gender Equality: in Sub-Saharan Africa, traditions and land ownerships do not favor women, which ends up in many women being excluded from the agriculture value chain. By engaging the relevant stakeholders, AgroCenta rents arable agricultural lands to female smallholder farmers for free. Women are also given seeds, fertilizers, mechanized tractor services and extensive advisory information on farming best practices such as what type of seed to plant, when to plant, how to plant, etc.Decent Work & Economic Growth: we empower smallholder farmers to see agriculture as more than just a way to survive and position it as a viable industry that can be sustainable for their family.
    • hibaerrai
       
      Agrocenta main goals are the following: first and the most evident one no poverty especially for farmers who are not paid enough. second, gender equality and finally economic agricultural development within the country.
  • A great team for sure! Our major strength has been a team made of people with diverse backgrounds and experiences and a deep understanding of the agricultural value chain. This asset allowed us to save a lot of time we would have naturally spent on trying to fine tune and launch the AgroCenta platform. Thanks to that we avoided making the common mistakes many new and unexperienced founders make.
    • ghtazi
       
      what we can understand is that having a great team is the key asset that led to the rapid growth of Agrocenta. cross-cultural team has been a plus for the development of agrocenta. it helped the company to save time and avoid making common mistakes that many new and inexperienced founders make.
  • Many investors are quite held back when it comes to making investments in Africa for an obvious reason: corruption.
tahaemsd

Sasfin and Hello Paisa bring new bank offering to life - 0 views

  • Sasfin together with money transfer company Hello Paisa have launched a low-cost banking product to rival others in the mass market segment.
    • tahaemsd
       
      new bank offering by hello paisa and sasfin
chaimaa-rachid

About | Kiva - 0 views

  • We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
  • We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
    • aminej
       
      Kiva is an interesting platform that offers very interesting funding access to people in different areas of the world. It would enable them to either start a new business or improve theirs. There are already 1.9 million lenders which is quite huge and a repayment rate of 95.9% so I believe that it is really developped.
  • We do this by crowdfunding loans and unlocking capital for the underserved, improving the quality and cost of financial services, and addressing the underlying barriers to financial access around the world. Through Kiva's work, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care.
    • kaoutarchennoufi
       
      Kiva is a very impactful organization since it financially helps students and women who want to start their own business. It is well known that these two categories usually face difficulties to contract loans or get any financial service. We need more organizations like Kiva all around Africa.
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  • Kiva started as a pioneer in crowdfunding in 2005, and is constantly innovating to meet people’s diverse lending needs. Whether it’s reinventing microfinance with more flexible terms, supporting community-wide projects or lowering costs to borrowers, we are always testing and learning.
  • We envision a financially inclusive world where all people hold the power to improve their lives.
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    I love the concept of Kiva where you can see technology helping people in their lives. The company aims to link borrowers with lender in order to improve the lifestyle of the people interested in this service. I just like the way Fintech plays a big role in improving our life and Kiva is just a good example of it.
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    Kiva provides attractive access to funding individuals to improve their lives.
nouhaila_zaki

What Is a Robo-Advisor? - 0 views

  • Shortcomings of Robo-Advisors The entry of robo-advisors has broken down some of the traditional barriers between the financial services world and average consumers. Because of these online platforms, sound financial planning is now accessible to everyone, not just high-net-worth individuals. Still, many in the industry have doubts about the viability of robos as a one-size-fits-all solution to wealth management. Given the relative nascency of their technological capabilities and minimal human presence, robo-advisors have been criticized for lacking in empathy and sophistication. They are good entry-level tools for people with small accounts and limited investment experience, namely millennials, but are far from sufficient for those who need advanced services like estate planning, complicated tax management, trust fund administration, and retirement planning. Automated services are also ill-equipped to deal with unexpected crises or extraordinary situations. For instance, if a young person's parents passed away and he/she receives an inheritance, going online to a robo-advisor to manage the money is probably not the optimal decision. In fact, a study conducted by Investopedia and the Financial Planning Association found that consumers prefer a combination of human and technological guidance, especially when times are rough. According to the report, 40% of participants said they would not be comfortable using an automated investing platform during extreme market volatility. Furthermore, robo-advisors operate on the assumption that clients have defined goals and a clear understanding of their financial circumstances, to begin with. For many, that is not the case. Answering questions like, "Is your risk tolerance low, moderate, or high?" presupposes the user has a fundamental knowledge of investment concepts and the real-life implications of each option they choose.
    • nouhaila_zaki
       
      This article does a great job at introducing the limits of Robo-advisors: - the one-solution fits all to wealth management proposed by Robo-advisors does not account for extraordinary situations and unexpected crises. - people do not trust a robot to make life-changing huge decisions, especially when times are rough and market volatility is extreme. - Robo-advisors assume that clients have defined goals and a clear understanding of their financial circumstances, which is not always the case.
mehdibella

Mobile payment app for cardless transactions | SnapScan - 0 views

  • DonateSupport the causes close to your heart. You can make a once-off donation, and even elect to repeat your donation, turning it into an ongoing, monthly contribution. Have a look at the organisations in the Donate section of the app. Quick and easy way to support a cause Set up a monthly payment to make a long term difference Stay in control, you can view or cancel the contribution at any time
    • samiatazi
       
      I find it interesting to put Donate section in the platform first page because contributing to the support of the community would enhance the public image of the brand ! So Fintechs can still keep the original values of the companies while going digital.
  • SnapScan is an app that lets you pay with your phone quickly, easily, and safely. Your SnapScan app uses your phone's camera to scan a SnapCode (a unique QR code). Stores have their own SnapCodes, and scanning these codes allows you to pay them. SnapScan is free to use and works with any South African bank, and most international credit cards.
    • tahaemsd
       
      With snapscan, people can pay in a snap, without the fuss of handling cash, cards or EFTs.
    • kenzabenessalah
       
      SnapScan allows people to pay with a simple scan using a QR code rather than using real cash. This is useful in today's world, especially with the pandemic.
  • Our scan to pay feature is definitely our most loved solution, but we're evolving into so much more because we can't stop making your lives easier. With SnapScan you can pay in a snap, without the fuss of handling cash, cards, or EFTs.
    • mehdibella
       
      This article points out that the business idea of Snapscan arrised from a simple discussion between a magazine seller and a cashless buyer, now it is one of the biggest Fintechs in Africa. indeed, We should believe in our potential to change others' life.
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  • What is SnapScan?
  • Your SnapScan app uses your phone's camera to scan a SnapCode (a unique QR code). Stores have their own SnapCodes, and scanning these codes allows you to pay them. SnapScan is free to use and works with any South African bank, and most international credit cards.
  • SnapScan pay links A SnapScan merchant can send you a pay link via SMS or email, which allows you to skip the whole scanning bit altogether, once you tap the link it takes you directly to the pay screen of your app. In-app purchases Take a look inside your SnapScan app. You’ll notice there’s a Prepaid section for airtime, data, and electricity, as well as a section to pay your bills, pay for parking, and donate to the causes close to your heart.
    • kenza_abdelhaq
       
      As an alternative to QR code scanning, SnapScan also allows payments to be done through links that take the user directly yo the pay screen of the app or the "In-app" purchases
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    "loved "
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    There is no doubt that Snapscan has expanded as it strategically covers different area of daily life. From bills payments to donations and sending money. Especially, it has helped customers in avoiding entering their information in different websites, using Snapscan is enough.
hichamachir

All Aboard Egypt's E-payments Express | Venture Magazine - 0 views

  • In Egypt, we have two customer segments; first is the bank population where we offer our services through banking channels, including services that allow people to pay their bills, their bus and airline tickets. Then we do the same exactly for the unbanked or the under-banked where you go to an agent and there you make the payment either in cash or electronically. These are the two main customer segments and probably they are mainly in the age group between 20 to 40.
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    It seems very interesting that Fawry intends to simplify the life of its two customer segments. Digitalization aims to make life more easier and flexible and Fawry applies it perfectly.
kenzabenessalah

SA SME wins prestigious humanitarian award and €1-million - Ventureburn - 0 views

  • Lumkani functions as a social enterprise that aims to diminish or lessen the loss of life and property caused by potential shack fires in the township areas across South Africa and the world. 
    • kenzabenessalah
       
      Having devices like Lumkani are essential everywhere because they help prevent loss of life.
mohammed_ab

Don't Fear the Algorithm: The Risks and Benefits Of Machine Learning in Finance - NextB... - 0 views

  • Machine learning is a critical component of this process, as it allows us to enhance our predictive ability to better identify these qualifying customers. As a result, we are making significant strides towards our goal of creating the world’s leanest and lowest-cost banking infrastructure. This helps our bank partners offer loans at the lowest possible rate, and it helps our customers to achieve higher-yield savings. We’ve proven that our model works. Twelve million customers in Africa and Asia have saved or borrowed on the JUMO platform, and roughly 70% of these customers are micro and small businesses. We’re incredibly proud of our progress so far – but we know there’s more we can do.
  • To test our approach, we looked at Ghana, running new and advanced machine learning algorithms on signals associated with a pool of lending applicants. The goal was to identify combinations of signals — from income size and deposit frequency to mobile phone battery life and mobile wallet transaction patterns — that would serve as more accurate indicators of likely fraud than existing models.
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    This article explains how machine learning is used as a tool to identify potential customers for JUMO. It's quite amazing to see that machine learning take into account things like the battery life of your phone, data usage, mobile money transactions as components to make a lending decision
ghtazi

Mukuru | Company Profiles | Africa Outlook Magazine - 0 views

  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • hibaerrai
       
      Mukuru targets unbanked individuals, ignored migrants and others. The goal was to make money and remittance transfers easier and safer. I believe that they should follow WorldRemit's path and expand more internationally.
  • “We’ve attempted to stay true to this approach as our business has grown, expanded and evolved – if we continue to obsess about trying to understand what customers really need and build solutions to address these requirements, then we’ll be well placed to walk alongside our customer base as their needs evolve.”  Following this philosophy, Mukuru has developed a remittance portfolio that is characterised by a high degree of customer loyalty, trust and repeat business – features that have enabled the company to reach a total 25 million transactions, a figure recorded in late 2018.   
    • sawsanenn
       
      This excerpt is important because it shows that innovation and improvement of customers experience are the keys to Mukuru's success since they put all their focus and attention into their customers
  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • ghtazi
       
      through this excerpt, we can see that Mukuru wanted to produce a transformation solution that will be easy to use for everyone and accessible to anyone with a mobile phone. they put themselves in the customer's shoes in order to better understand their needs and preferences.
mehdi-ezzaoui

Fintech 2021 predictions by one of SA's leading fintech thinkers - 1 views

  • Last year we predicted partnerships between banks, insurers and fintechs. We saw a couple of notable events: the joint venture between Capitec and Easy Equities where Capitec is offering Easy Equities to its client base. The game changer in the payments space was Vodacom partnering with Alipay, although recent regulatory developments in China around fintech could hamstring these efforts. Standard Bank bought Tradesafe, a digital escrow services provider. OUTsurance and Shoprite partnered to offer funeral and life insurance to Shoprite customers. Telkom Business partnered with fintech startup, Fundrr, to offer loans to businesses wanting to grow.
  • Last year we predicted partnerships between banks, insurers and fintechs. We saw a couple of notable events: the joint venture between Capitec and Easy Equities where Capitec is offering Easy Equities to its client base. The game changer in the payments space was Vodacom partnering with Alipay, although recent regulatory developments in China around fintech could hamstring these efforts. Standard Bank bought Tradesafe, a digital escrow services provider. OUTsurance and Shoprite partnered to offer funeral and life insurance to Shoprite customers. Telkom Business partnered with fintech startup, Fundrr, to offer loans to businesses wanting to grow.
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    The new entrants in banking, Tyme and Discovery; in insurance Naked and Pineapple, and in online investments OUTvest, Franc and Easy Equities, will continue to gain traction.
omarlahmidi

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

  • “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
       
      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
       
      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
       
      SnapScan is a mobile payment that changed South Africa
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    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.
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    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.
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    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.
aymanelmamoun

No cash needed using South Africa's SnapScan - 1 views

  • Customers, when purchasing, simply need to scan a QR (quick response) code in store using their phones. And the customer can use any MasterCard or Visa card to sign up. Ehlers added: “We tried to design a product which allowed absolutely everybody to be part of the formal side of the economy.”
  • In an interview with How we made it in Africa, Ehlers explained: “A sizable part of why we built the product the way we did really relates to how the economy of South Africa functions. So to give one example, we built SnapScan so the merchant selling the products doesn’t need any special hardware at all. No point of sales system is required.” Merchants who don’t have bank accounts can redeem payments at any Standard Bank ATM or selected supermarkets.
    • samielbaqqali
       
      SnapScan is a new app that aims to make it easier to make mobile payments, so I think this unique concept will drive potential entrepreneurs to develop and build new ideas that can enhance real digital services. It isn't always a major challenge to develop a new concept, but the problem may be how to view the idea or how to preserve it. SnapScan is a notion of a new concept that in South Africa revolutionized mobile payments so that this company could inspire us to build better ideas.
  • SnapScan’s partnership with Standard Bank has allowed the company to grow faster. But Ehlers and his team are still required to adapt to the differences between the corporate and start-up worlds. He explained: “A start-up can quickly make a decision and then two hours later start implementing, whereas in a large corporation there is a process, things move a lot slower. Politics are involved and different people – and that’s not necessarily a bad thing, just the reality.”
    • aymanelmamoun
       
      SnapScan is cooperating with international banks in the aim of growing faster. Standard Bank is a example of alike partnerships, both companies adapt to the differences between the corporate and start-up worlds.
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  • Why is this app so popular, and what does it do? In short it aims to replace the use of cash for both customer and merchant. What makes this unique for the merchant, is that they don’t need a bank account or a card machine to receive payments.
    • omarlahmidi
       
      SnapScan makes customer-s life much easier by providing many facilities.
  • SnapScan’s partnership with Standard Bank has allowed the company to grow faster. But Ehlers and his team are still required to adapt to the differences between the corporate and start-up worlds.
    • aymanelmamoun
       
      Partnerships as important strength.
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    SnapScan is a new product that aims to make mobile payments easier, so I believe that this unique idea might push future entrepreneurs to innovate and create new ideas that can improve the actual digital services. Creating a new idea is not always a big problem but the problem might be how to interpret the idea or how to protect it. SnapScan is a concept of a new idea that revolutionized mobile payments in South Africa so this business might inspire us to create better ideas.
ghtazi

About us - BezoMoney - 0 views

  • We want to acceleratefinancial inclusion BezoMoney is not just a product. It is a growth experience. Our vision is to become Africa’s largest community-based digital financial institution by empowering people financially through their way of life to facilitate upward social mobility using digital financial technologies. We are community, we are a financial ecosystem and we exist to address all your financial needs.
    • sawsanenn
       
      Invest Mobile Competitor
  • We had the opportunity to be trained by Meltwater Entrepreneurial School of Technology (MEST) which allowed us to develop our skills and our product as well as secure seed funding for BezoMoney.
    • ghtazi
       
      BezoMoney has a comparative advantage
chaimaa-rachid

MTNGH-2019-Annual-Report-final-10mb.pdf - 0 views

  • MTN Ghana is part of the MTN Group, a leading emerging market mobile operator, driven by the belief that everyone deserves the benefits of a modern connected life. MTN Group has operations in 21 countries in Africa and the Middle East.
mohammed_ab

Ethiopia: "Mobile money doubled my number of customers in just three years"Et... - 0 views

  • Bisharo’s story is one of the many urban merchants who have discovered the power of digital payments for their businesses. Over the past few years, technology providers such as BelCash with their HelloCash mobile money, product working closely with the Somali Microfinance Institution, have made significant progress in helping merchants like Bisharo realize the benefits of digitizing payments.
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    This article shows how mobile money has enabled a small shop owner in Addis Ababa, Ethiopia, has been able to generate more revenue just by letting its customers pay with mobile money. It also demonstrates the convenience that mobile payments have on its users especially for sellers. I really liked the story of Bisharo, the owner of that small shop, whose life has changed because of a fintech solution.
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