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Forget about Mobile Money, Invest in Insurtech Instead: The Untapped Triple Bottom Line Opportunity in Nigeria
Nigeria has one of the lowest insurance penetration rates in the world, at just 0.5%. But as Brian Yu at Shecluded explains, this low uptake means the industry is poised for disruption and growth. He explores how insurtech innovators are addressing the key problems plaguing the sector — namely, a lack of accessibility, affordability and customer trust — and calls for funders to look past their traditional focus on mobile money and invest in the insurtech businesses that are transforming the way the industry serves low-income customers.
- Categories
- Finance, Investing, Technology
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African Development Bank Group Earmarks $8 Million to Establish Interoperable Bank ID System in 4 West African Countries
The purpose of the new bank ID system is to enable the linkage of bank accounts across different financial service providers in what is seen as a financial inclusion push.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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ZestMoney Set to Lay Off Around 100 Employees After Acquisition Deal With PhonePe Falls Through
According to reports, the fintech company will trim its workforce by around 20% as part of its business continuity and survival plan.
- Categories
- Finance, Technology
- Region
- Asia Pacific
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Volante Technologies and HCLtech Collaborated to Enhance Modernisation of Cloud Payments for Financial Institutions
The companies will promote payments modernization to assist financial institutions in keeping up with the industry’s fast-paced digital disruption.
- Categories
- Finance, Technology
- Region
- Global
- Tags
- digital payments
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Press Release: Bitget Launches $100 Million Web3 Fund to Support Next-Generation Crypto Projects in Asia
The fund will focus on investing in Web3-friendly venture capital and outstanding Web3 projects, with the goal of supporting the development of the next generation of crypto projects.
- Region
- Asia Pacific
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Bank Alfalah Partners with Access Group to Boost Digital Payments Ecosystem in Pakistan
Through the DigitalPass acceptance network of Access Group, the partnership will embed merchants nationwide with Bank Alfalah’s point-of-sale (POS) and e-Commerce ecosystem.
- Categories
- Finance, Technology
- Region
- North Africa & Near East
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Fintech TerraPay Secures $100 Million via Series B to Expand Payments Infrastructure
The funding will help TerraPay’s global expansion plans, especially across the LATAM and MENA regions.
- Categories
- Finance
- Region
- Global
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Sao Tome and Principe: African Development Bank Signs $3.2 Million Loan Agreement for Upgrade of National Switch Payment System
Automated Clearing House functionalities will strengthen the clearing and settlement of payments.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa