FinTech Archives - Page 8 of 10 - AfricaBusiness.com

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...

28Apr

By Africa BusinessNo Comments

Business, Fintech, Kenya News, Nigeria News, Tech

Ajua Acquires WayaWaya

Leading Customer Experience Platform for Africa to Integrate Intelligent Messaging and Payments Platform Across its Product Suite Ajua, the integrated Customer Experience Management solution for businesses in Africa, has acquired WayaWaya, the Kenya-based Artificial Intelligence [AI] and Machine Learning [ML] known for its innovative Janja platform, that enables borderless banking and payments across apps and social media platforms, for an undisclosed sum. WayaWaya founder and lead Janja product builder, Teddy Ogallo, joins Ajua as VP of Product APIs and Integrations. The acquisition of WayaWaya allows Ajua to integrate Janja to automate much of the customer experience journey by integrating janja.me product into their product stack, closing the customer experience loop as the...

26Apr

By Africa BusinessNo Comments

Fintech, Startups

How to Calculate and Improve Customer Lifetime Value for Your Fintech App

Creating loyal customers that purchase your products and services for life is the dream. Increasing customer lifetime value creates stability for your business and allows you to innovate new products and services that keep finance customers returning to your brand again and again. To end the feast and famine cycle, companies need to increase customer lifetime value and keep customers engaged and nurtured. Fintech apps might be enjoying a boom right now, but it's establishing a high lifetime value that creates sustainable growth and business stability. Calculating CLV: A Refresher The traditional approach to calculating CLV looks at sales, transactions, and retention through the lens of profit margins. To find lifetime value, use this equation: Lifetime Value = Average Value of Sale × Numb...

Affordable digital banking to revolutionise price-sensitive East African payments market

21Apr

By Africa BusinessNo Comments

Fintech, Kenya News

Affordable digital banking to revolutionise price-sensitive East African payments market

In a region still dominated by cash and mobile money options, like M-Pesa, new collaborations between fintechs are looking to capture the price-sensitive market with innovative, open-loop digital payment solutions in East Africa. According to Mark Dankworth, President International, Ukheshe Technologies, the region is poised for a surge in digital banking growth, with the likes of MCQR and virtual cards likely to make the biggest impact. This follows the Kenyan retail-tech startup, Tanda, leveraging Ukheshe Technologies’ cutting-edge Eclipse API to increase their digital banking offering in Kenya and East Africa to include QR payments, digital wallets and the issuing of physical and virtual cards. The move will empower Tanda agents and merchants throughout East Africa to implement 100,000 ...

22Mar

By Africa BusinessNo Comments

Fintech

The Rise Fund to invest $200 million in Airtel Africa’s mobile money business, at $2.65 billion valuation

Airtel Africa to explore potential listing of mobile money business within four years. Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, announced on 18th March the signing of an agreement under which The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, will invest $200 million in Airtel Mobile Commerce BV (“AMC BV”), a wholly-owned subsidiary of Airtel Africa plc (the “Transaction”). AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries. The Transaction values Airtel Africa’s mobile money business at $...

17Mar

By Africa BusinessNo Comments

Fintech, South Africa News

Ukheshe Technologies and Infobip collaborate to create SA’s first WhatsApp payment gateway

Leading digital fintech enablement provider, Ukheshe Technologies, together with Infobip, a global cloud communications platform that enables businesses to build connected customer experiences across all stages of the customer journey at scale, have developed South Africa’s very first WhatsApp payment gateway for use by Telkom, one of the country’s largest mobile operators. In addition to being South Africa’s first digital wallet platform, the solution is also the first WhatsApp channel to enable payments using QR. The project and collaboration with Infobip forms part of Ukheshe’s objective of expanding its international reach as a solution driven B2B provider of digital-first payment solutions that enable banks, telcos and fintechs to provide banking and payment services to their customer...