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The Digital Transformation: Four Opportunities and Three Threats for Traditional Financial Institutions
Digital finance can reduce the annual cost of serving customers by up to 80 percent – one reason why financial services providers are embracing it. As MicroSave founder Graham Wright sees it, this race toward digitization is creating a watershed moment for financial and social inclusion. The sector’s decisions now will determine whether it will contribute to truly inclusive economies – or create a growing digital divide. Wright explores four ways this transformation could help financial services providers and their customers – along with three major pitfalls they must avoid.
- Categories
- Finance
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Press release: Fintech activity in Latin America spreads to 18 countries
The report provides data which, while illustrating the challenges that the industry faces, also reflects an inevitable transformation of the financial sector and the role that entrepreneurs play in accelerating innovation and changing the way in which people have interacted until now with financial services.
- Categories
- Finance
- Region
- Latin America
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Visa strengthens East Africa presence through partnership with Tanzanian telecom firm
Through the partnership, HaloPesa will offer consumers the option to pay a merchant with interoperable Visa QR Codes that are being rolled out as part of Visa on mobile expansion in the market.
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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Press release: The Fintech100 – announcing the world’s leading fintech innovators for 2018
The 2018 Fintech100 is the fifth edition of the annual report, a collaboration between fintech investment firm H2 Ventures and KPMG Fintech. The Fintech 100 includes the 'Leading 50' fintech firms around the globe, ranked based on innovation, capital raising activity, size and reach; and the 'Emerging 50', exciting new fintechs that are at the forefront of innovative technologies and practices and are often pursuing new business models.
- Categories
- Finance
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Why India lags peers in digital payments
Yet despite this growth, after adjusting for population, India continues to lag other major countries. Among the BRICS countries (Brazil, Russia, India, China and South Africa), Russia leads the way with the average adult making more than 200 non-cash transactions annually.
- Categories
- Finance
- Region
- South Asia
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Report: Ban on Aadhaar linking may crimp growth of financial players in India
Last month, the Supreme Court had declared the government's flagship Aadhaar scheme as constitutionally valid but struck down some of its provisions including its linking with bank accounts, mobile phones and school admissions.
- Categories
- Finance, Technology
- Region
- South Asia
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PayPal Invests In Emerging Markets Lending App Tala
Tala’s Android-based app analyzes device and behavioral data to instantly underwrite the consumers and create a loan offer.
- Categories
- Finance
- Tags
- fintech, mobile finance
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Tez Financial Services Raises $1.1M in Seed Funding
The company intends to use the funds to build its credit portfolio, enhance its mobile technology platform, and secure an NBMFC license.
- Region
- South Asia
- Tags
- fintech, mobile finance
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