Fintech Archives - Page 15 of 19

89% of GCC consumers will opt for digital banking services over visiting a physical branch post Covid-19

7Jul

By Africa BusinessNo Comments

Fintech

89% of GCC consumers will opt for digital banking services over visiting a physical branch post Covid-19

77% of respondents in the GCC access digital banking services at least once a week 44% are willing to switch to a different bank due to poor customer relations 31% perceive their bank’s current offering of access to online banking services as weak Consumer appetite for digital banking services continues to grow in the countries of the Gulf Cooperation Council (GCC), accelerated further by the COVID-19 pandemic, according to a new survey conducted by Backbase with YouGov. Eighty-nine percent of respondents to the survey said that they are now more likely to opt for digital banking services rather than make a physical visit to a bank branch, with consumers saying they prefer digital self-service banking solutions delivered with the same convenience as their ecommerce, entertainment, and...

6Jul

By Africa BusinessNo Comments

Fintech, South Africa News

Telephonic payment solution helps companies deal with Covid-19 challenges

VerPay enables verbal commerce as businesses adapt to serve their customers in contactless ways As South Africa enters its third wave and lockdown restrictions tighten, certain businesses - such as those in hospitality - once again find themselves having to temporarily close their doors, while seeking alternative avenues to generate income, such as take-aways. “The pandemic has forced us all to do business in new ways, and presented new challenges - as well as opportunities, says Dana Buys, CEO of VerPay Pty Ltd, a Cape fintech company that specialises in cloud-based payment. “Not all companies have the means - or inclination - to go completely online. Many consumers still prefer dealing with a person, as opposed to solely an app or webs...

2Jul

By John BrooksNo Comments

Fintech

Should You Still Buy Bitcoin at $35,000?

The bitcoin market has been on a downward trend over the last month. Bitcoin has dropped almost 50% from its all-time high of 46 lakhs in three months. The drop has divided investors into two camps: those who are rushing to sell to avoid losses, and those who are holding their investment with optimism for the future. To buy bitcoin with mobile money might seem like a risky task now since Bitcoin is at a low, but it might slingshot to heights it has never reached before. Despite the massive drop in Bitcoin and other major cryptocurrencies, the cryptocurrency industry is not in a terrible state. Stocks to Watch in Cryptocurrency fall This year, cryptocurrency values have skyrocketed. Cryptocurrency bellwether Bitcoin has almost quadrupled year-to-date to over $60k as of the end of last week...

29Jun

By Africa BusinessNo Comments

Fintech, South Africa News

BEC Attacks: Who is legally responsible?

Business Email Compromise (BEC) and cyber attacks are on the increase worldwide. Conveyancing firms, their clients, and other organisations effecting many large non-recurring type transactions are particularly vulnerable to BEC fraud. Ryan Mer, Managing Director, eftsure Africa, a Know Your Payee™ (KYP) platform provider says gaps in organisations’ payment systems not only pose massive financial and reputational risks, but can have serious legal implications as well. According to a global survey conducted by Mimecast Cyber Security Services in 2020, six out of ten companies globally were infected with ransomware and there was a 64% increase in email threats. An Accenture report from May 2020 confirms South Africa had the third most cybercrime victims globally, resulting in losses toppin...

29Jun

By Africa BusinessNo Comments

Fintech, Startups

Telecel Group ASIP Accelerator powered by Startupbootcamp AfriTech selects Top 10 startups for 2021 Cohort

Telecel Group Africa Startup Initiative Program (ASIP), with Africa's top early-stage tech Accelerator, Startupbootcamp Afritech, has selected the 10 tech startups that will participate in the inaugural ASIP Accelerator. The program received a record 2229 applications and managed to narrow it down to the Top 10, with the help of investors, corporate stakeholders, and industry experts who took part in an intensive 2-day selection process of 20 semi-finalists. Founded by telecoms giant, Telecel Group, and backed by key tech partners including AWS and Google Cloud Platform, ASIP aims to support the next generation of early-stage African tech startups disrupting key industry verticals that include FinTech, InsureTech, AgriTech, eCommerce, Digital Health, and CleanTech. Telecel will provide the...

23Jun

By Nicolas GarciaNo Comments

Fintech

Securing the financial institutions’ physical and digital assets with biometrics

Gone are the days when the financial institutions’ (FI) only assets considered to be the gold, cash and other valuables in its vaults. With data widely acknowledged as the new gold, ensuring that only legitimate people get access into the FI’s premises and digital databases is more important than ever By: Nicolas Garcia, VP MEA, Biometric devices It is standard practice around the world for an individual to positively identify his/herself in a bank branch in order to affect all transactions. Means of identification can include what you know (PIN or password), what you have (ID document) and what you are (biometrics). It is no longer even a competition of which of the methods is considered as the most accurate for positively identifying a person – biometrics wins hands down, literally. Bio...

22Jun

By Africa BusinessNo Comments

Fintech, South Africa News

Fintech, Ofin, tackles behavioural changes needed to address financial inclusion

It is a common belief that financial access should lead to financial prosperity. According to the World Bank, financial inclusion is defined as all people and businesses having access to useful and affordable financial products and services that meet their needs. Sakhile Mabena, CEO, Ofin, a venture-backed fintech startup specialising in Behavioural Data Analytics, Financial Process Automation, Behaviour-based Financing and SME Behaviour Nudges, says that to successfully address financial inclusion in Africa it is important to address the financial behaviours and leverage technology to better enable users to become more bankable. Mabena, previously a World Economic Forum Global Shaper, has together with his team, developed an app that focuses on changing financial behaviour, which will ...

2Jun

By Africa BusinessNo Comments

Fintech, Startups

Venture Capital trends shaping the African investment landscape

As the second half of 2021 approaches and Covid-19 vaccinations roll out across the globe, albeit at varying rates, Ian Lessem, Managing Partner at HAVAÍC, investors in early-stage, high-growth technology businesses, considers the trends making an impact on the African Venture Capital (VC) landscape. Homegrown solutions take on the world At HAVAÍC, our investment thesis is centred around investing in businesses that solve real-world challenges. With the world having adjusted to new ways of shopping, learning, and doing business as a result of the Covid-19 pandemic, the appetite for solutions that solve real, tangible problems are without a doubt the best opportunities for growth. Solutions that offer people and organisations better ways of living and working with less friction will reign ...

30May

By Africa BusinessNo Comments

African News, Agriculture, Fintech, Libya News, Mauritania, Morocco News, Startups, Tech, Tunisia News

Official launch of the second cycle of EMERGING Mediterranean – the springboard programme for emerging Mediterranean Tech For Good leaders

The call for applications is open to any startup based in Mauritania, Morocco, Algeria, Tunisia or Libya that has been operating for over 18 months in one of the following areas: e-health, climate, mobility, agritech, social economy and financial inclusion. As a result of the work done during the preparatory forums for the Summit of the Two Shores and with the support of the French Development Agency, EMERGING Mediterranean, created by Samir Abdelkrim in 2020, aims to increase the impact of Mediterranean startups that help their societies become more resilient. After the first year of the programme in 2020 underlined a strong demand for support from entrepreneurs in the Mediterranean, EMERGING Mediterranean is launching its second call for applications to identify, accelerate and publicise...

18May

By Africa BusinessNo Comments

Fintech, South Africa News

South Africa’s Leading Payment Aggregator and Secure Payment Solutions Provider Expands into Africa

With the African Continental Free Trade Agreement set to generate combined consumer and business spending of $6.7 trillion by 2030[i], the continent requires payment platforms to cater for this growth. To this end, Pay@ - a leading South African payment aggregator and provider of secure payment solutions - will be expanding into several African countries and providing consumers and businesses alike with a variety of payment methods. The company’s CEO, Andrew Hardie says that Pay@ has deployed operations into Namibia, Botswana and Lesotho over the past few years but will now be adding Zambia, Mozambique and Angola to this list, with additional African countries in the pipeline. “We would like to build on the strength of our business in South Africa and grow out our offerings across the con...