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SimbaPay launches AI-powered chatbot that enables global money transfers via text
Digital money transfer provider SimbaPay has launched an AI-powered chatbot service which enables its customers to make international money transfers with just a text.
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- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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The race to become the world’s leading leading Islamic fintech hub
Malaysia, the UK and Indonesia are leading the race, ranking first, second and third respectively by number of Islamic fintech startups, says Bloomberg Intelligence. However, fierce competition from Middle Eastern countries threatens their supremacy.
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- Finance
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Press release: Alipay Expands Global Footprint Into Mexico Through Partnership With Openpay
Alipay, the world’s leading digital payments platform, operated by Ant Financial Services Group, today announced that it is further expanding its footprint in the Americas through a partnership with Openpay in Mexico. Now, Alipay’s more than 600 million active users in China will be able to use Alipay to make purchases from Openpay’s affiliated businesses in Mexico. Alipay is China’s leading payment provider and the primary means of online and mobile payment for Chinese consumers.
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- Finance
- Region
- Latin America
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One of UK’s biggest banks is going digital in Africa for a share of the mobile money market
UK bank, Standard Chartered, is making a play for the mobile financial services market in Côte d’Ivoire—where it has no physical presence—with the the launch of its first digital-only retail bank. The bank will offer digital services allowing users make transfers and pay bills.
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- Finance
- Region
- Sub-Saharan Africa
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The Demonetization Crisis May Be Over, but the Time for Tech Upgrades in Indian Microfinance Is Now
India's 2016 banknote demonetization sent shockwaves through the country's microfinance sector, causing MFIs to write off US$ 1.1 billion in bad loans. In response, cash-dependent MFIs stepped up investment in fintech – but now that the crisis has passed, so perhaps has their sense of urgency. Elliot Rosenberg of Awaaz.De argues that the need to embrace tech is as strong as ever.
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- Finance, Investing, Technology
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Initiative aims for cross-border interconnectivity of mobile wallets in Southeast Asia, India
Singtel will start with Thailand’s largest mobile operator, AIS. The Group plans to progressively expand this service from the second half of 2018 to other regional associates, which include Airtel in India, Globe in Philippines and Telkomsel in Indonesia.
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- Finance
- Region
- Asia Pacific
- Tags
- fintech
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Press release: Inclusivity solutions brings digital insurance to East Africa through partnerships with Equitel Kenya and Airtel-Tigo Rwanda
Equitel’s Riziki Cover and Airtel–Tigo’s Ingoboka Cash, offer subscribers hospital cash cover to individuals and families who are hospitalised. The offers are being extended as both a free loyalty cover as well as an optional, higher value premium cover. Pivotal to the development of these initiatives was Inclusivity Solutions strategic partnership with Reinsurance Group of America (NYSE:RGA), who is serving as the lead reinsurer for both products.
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- Finance
- Region
- Sub-Saharan Africa
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Egypt on the Precipice: Can Fintech Pave the Way for a More Inclusive Financial System?
Financial inclusion in Egypt has persistently lagged behind similar economies for decades. But the country now has all the hallmarks of a market ready to leapfrog: a young population, an enthusiastic embrace of social media, and more mobile subscriptions (110 million) than its population. Sarah Willis of MetLife Foundation and Mayada El-Zoghbi of CGAP lay out four criteria that Egypt must meet to bring meaningful financial services to its low-income communities.
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- Finance