Page 11 - Fintech Summit News Today

Uganda remains largely a cash economy with more than 80 per cent of transactions completed through cash

...To drive financial inclusion It was Sir Isaac Newton, in his letter to Robert Hooke in 1675, who wrote the

“API banking refers to a set of protocols that enables banks to offer their services to other fintech companies through a tech interface between software programs,” noted Francis Thairo, the Customer Advisor Financial Services at SAP during his keynote speaking slot at the 2021 Regional Fintech Summit. Thairo further noted that leveraging API procedures will enhance the digital transformation journey of the FSIs and are therefore extremely crucial now, given the unprecedented times. Advert...

“AI and RPA were big things for Fintech in 2019-2020. Now, the Fintech world has grown from a statistics perspectives and is containing to grow.” Said Laura Chite, the CEO of CIO East Africa At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones. Fintech, the word, is a combination of “financial...

Advertisement The 2020s are the era of the cloud. Now, I would like to say that 2021 is the era of cloud yes, infused with the adaptability and cutting edge innovations, of Fintech. It is not hard to see why businesses are drawn to this relatively new technology known as Fintech, but what does this mean for the Kenyan tech landscape? “What we are seeing from 4IR is digital transformation and migration to the cloud. A lot of the communication involves humans, and necessarily, machine to machin...

Advertisement FinTech has had a meteoric explosion in the Kenyan tech landscape. One illustration of this can be seen by simply looking at the Google search volume for the term Fintech over time — with its exponential growth seemingly emerging in the past five years (since 2016). But what is Fintech? At its most basic level, Fintech is simply the application of technology and innovation to solve the needs of consumers and firms in the financial space. Of course, when defined and thought of in...

“Disruptive leadership is a mindset,” he said. “This kind of leadership will help leaders accomplish milestones without worrying about shaking up things or altering the paths to obtain the necessary results.” A distinctive component of disruptive leadership style is that leaders expect the unexpected and thrive with the highest levels of uncertainty, being ideal for guiding the team and transmitting calm and trust, reports PDA International. Advertisement Disruptive leaders have the pe...

Speaking at a panel on the future of banking during the #CIOFintechSummit, Kamal Budhabatti, Group CEO at Craft Silicon described neo banking as ‘normal banking done with a different mindset’. He further noted that neo banking has still not been realised in the region due to unclear customer acquisition strategies. “The ball game in neo banking is customer acquisition. It is still unclear how o achieve this which is why mobile operators assume the role of neo banks in East Africa,” Kama...

Common forms of cyber threat in this case would include spear-phishing, or targeted attacks on individual by hackers claiming to be their bank or financial institution, tricking them into downloading malicious software, sharing sensitive information or entering passwords into an insecure, fraudulent website. It is essential for these Fintech companies, who are the mediators these people have to financial institutions, to keep these people updated on best security practices and how to avoid scam...

Advertisement The COVID-19 pandemic has opened the way for great opportunities for FinTech companies. The term for it is called COVID propelled transformation. Who would have thought that a world wide pandemic will be the silver lining in ensuring the world becomes more digitally adept. Now, customer penetration has increased to record highs in an effort to ride the digital transformation wave that everyone wants to be a part of. However, with new opportunities come new risks. When risks and di...