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The Leapfrog Opportunity in ‘Know Your Customer’ Innovation: Why Africa Needs Local, Digitized KYC Solutions
Know Your Customer (KYC) is a critical process for banks, as it enables them to validate their customers’ identities to fulfill regulatory requirements and protect against fraud. But as Timbo Drayson at OkHi explains, KYC is a big and expensive problem in Africa: For instance, in Nigeria some banks are spending up to $1 million per year to manually verify identities, and 15-30% of customers never complete these processes. He explores three key challenges to KYC in Africa, and presents some tech-driven solutions that could allow the continent to leapfrog to a new global best practice for KYC.
- Categories
- Finance, Technology
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France’s Eurazeo Launches $215 Million Southeast Asia ‘Insurtech’ Fund
Investors are deepening their foothold in the region despite a market cool-down.
- Categories
- Technology
- Region
- South Asia
- Tags
- funding, innovation, insurance, investment, startups, technology
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Press Release: Robinfood Closes a New Investment Round of 32 Million Dollars That Will Allow It to Continue With Its Successful Expansion in Latin America
RobinFood, the biggest cloud-based restaurant company in Latin America, has closed a new investment round of 32 million dollars.
- Categories
- Investing, Technology
- Region
- Latin America
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Press Release: M Auto Becomes the Largest E-Vehicle Company in Africa
Simultaneous launch in Togo and Benin gives Africans unprecedented access to green and affordable electric powered two-wheelers.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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African Development Bank Approves €9.8 Million Investment Funds For Tech Startups In Africa
The investment will support African start-ups, from seed to growth stages, particularly in the tech sector.
- Categories
- Investing, Technology
- Region
- Sub-Saharan Africa
- Tags
- innovation, investment, startups, tech, technology
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Implementing Effective Innovation Challenges: Three Lessons from the Last Mile Distribution Sector
Last mile distributors (LMDs) are key to bringing life-changing products to hard-to-reach consumers, and innovation is essential to their work. But as Emma Colenbrander and Charlotte Taylor at the Global Distributors Collective and Gerwin Jansen at Bopinc explain, these innovations are often not replicated, leading LMDs to spend time and resources reinventing the wheel. They explore how innovation challenges can foster greater replicability and inclusivity, and share three key insights for LMDs and other businesses and organizations working to support innovation at the last mile.
- Categories
- Entrepreneurship, Technology
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JPIN Launches Strategic Funds With a Combined Value of US $150 Million for Innovation
JPIN, a startup investment bank, has announced the launch of two strategic funds aimed at fuelling innovation across the globe.
- Categories
- Investing
- Region
- Global
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Panama Is Poised to Approve the Use of Bitcoin and 8 Other Cryptos ‘Without Limitation’
Lawmakers in Panama have approved a bill that would regulate the use of Bitcoin and eight other cryptocurrencies to be used to pay taxes and private transactions.
- Categories
- Finance, Technology
- Region
- South Asia
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