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World Economic Forum leads creation of fintech cyber security consortium
The World Economic Forum has led the creation of an industry consortium focused on improving the cybersecurity of financial technology companies, as collaboration between fintechs and financial institutions grows.
- Categories
- Finance
- Tags
- cybersecurity, fintech
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Multinationals yielding to allure of M-Pesa
For a while, Google required consumers in Kenya to pay for apps and games bought from its Play Store and Game Store using credit cards, as though they were in developed countries such as the US where there is a widespread use of cards.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Madagascar: $45 Million to Promote Financial Inclusion of Individuals and Small Enterprises
Madagascar Financial Inclusion project will specifically target women and women-owned enterprises, to reduce disparities in access to finance for women. The direct beneficiaries of the project will include teachers, students and taxpayers that will have the option to receive and make government payments through an e-money transaction account.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Why India’s fintech, e-com firms fear Google, Facebook
In the fight between information technology, fintech and e-commerce firms in India and Google and Facebook, the global giants seem to be winning hands down. It is becoming a matter of survival for these sectoral ones, as one-stop solutions such as business listings, travel bookings, money transfers and financial services are available on both platforms and these firms rely on Google and Facebook to promote their services.
- Categories
- Finance
- Region
- South Asia
- Tags
- e-commerce, fintech
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Indian e-wallets are gasping for breath
Till now, using an e-wallet involved merely downloading the app, registering one’s mobile phone number, and linking it to one’s bank account. Now, customers also need to complete a more detailed KYC procedure within a year, which involves visiting a company-approved centre and getting documents physically verified. With this additional step, the industry has lost its most important pull-factor: convenience.
- Categories
- Finance
- Region
- South Asia
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Press release: Global Venture Capital Investment in Fintech Industry Set Record in 2017, Driven by Surge In India, US and UK, Accenture Analysis Finds
Fintech financing rose 18 percent in 2017, to US$27.4 billion, with the value of deals in the U.S. jumping 31 percent, to $11.3 billion. Deal values almost quadrupled in the U.K., to US$3.4 billion, and soared nearly fivefold in India, to US$2.4 billion. The number of fintech deals also rose sharply, from just over 1,800 in 2016 to nearly 2,700 in 2017, underscoring continued appetite from investors scouring the globe for innovation in insurance, banking and capital markets startups.
- Tags
- fintech, venture capital
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Indian mobile wallet firms fear losing 40% of their customer base due to Know-Your-Customer norms
Firms such as Amazon Pay have seen a 30 percent drop in their customer base.
- Categories
- Finance
- Region
- South Asia
- Tags
- digital payments, fintech
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Extending access to credit: Are alternate finance platforms creating tangible impact in India?
Having recently been brought under the regulatory ambit by the Reserve Bank of India (RBI), the thought was that the nascent online P2P lending sector can play a significant contribution towards furthering the cause of financial inclusion.
- Categories
- Finance
- Region
- South Asia
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