fintech africa
“Dire Implications” for Financial Services Unwilling to Digitise, says Standard Bank
Image sourced from Regent Lighting. Digitisation is driving the convergence of industries across the globe resulting in traditional financial services groups contending with a range of new competitors, says one of SA’s big four banks – Standard Bank. According to the findings of a report by world-renowned platform economy expert Sangeet Paul Choudary and Standard Bank’s Wholesale Clients Digital unit, the implications could be dire for financial services organisations that are unwilling to adapt their strategies in these changing times. Standard Bank’s newly released paper, titled The Power of the Platform Economy for Financial Services, looks at the fast-growing platform economy, in which value-creating interactions are facilitated by digital intermediaries. It unpacks the new opportuniti...
Latest Mambu Research Reveals Gap in Global Financial Awareness and Accessibility
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Startup “Unicorns” Help Mobile Money Soar in Africa
Image sourced from WeeTracker. /* custom css */ .tdi_4_c6c.td-a-rec-img{ text-align: left; }.tdi_4_c6c.td-a-rec-img img{ margin: 0 auto 0 0; } A recent GSMA report reveals that there are 1.2 billion registered global mobile money accounts. 560-million of these registered accounts are in Africa. The GSMA, which represents several mobile network firms, states that “Sub-Saharan Africa has been at the forefront of the mobile money industry for over a decade, and in 2020 continued to account for the majority of growth.” FinTech Unicorns Running Wild in Africa Now, five African fintech startups, Flutterwave, ChipperCash, Interswitch, Paga and OPay are now being identified as “unicorns” by investors, the business media and analysts following the surge of mobile payments. /* custom css */ .tdi_3_4...
Why SMEs in South Africa Benefit from Alternative FinTech
Image sourced from Cape Business News. /* custom css */ .tdi_4_c3c.td-a-rec-img{ text-align: left; }.tdi_4_c3c.td-a-rec-img img{ margin: 0 auto 0 0; } Data and automation are rapidly changing the lending game in South Africa. The country is seeing the emergence of an agile new class of fintech that uses proprietary data and algorithms to vet loan applications within minutes so that retailers can access working capital they need to grow and thrive. This is according to Steven Heilbron, CEO of the Connect Group. “Alternative, technology-powered financing solutions are disrupting South Africa’s commercial lending market, especially the retail space and in the process, it is helping thousands of SMEs to navigate the threats and opportunities of a volatile economic landscape during the pandemic...
