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Nium issued payments licences by the Monetary Authority of Singapore
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INFOGRAPHIC: The Future of finance
Technology has impacted virtually every industry, particularly the financial sector. Whether it’s the development of new forms of currency or expanding how and where investors can trade, the financial industry is evolving at an unprecedented rate. Mobile apps, online lending platforms, and smaller, more agile organizations are successfully competing with large, established firms.
To learn more, check out the infographic below created by Maryville University.
Fintech Landscape
The term fintech is defined as technological innovation in the financial sector, including innovations in financial literacy and education, retail banking, investment, and cryptocurrencies.
The Fintech Sector Landscape
Hollard Life Assurance has partnered with pan-African fintech company, Cassava Fintech and Vodafone to launch a micro-insurance product providing funeral and disability cover to the underserved.
The insurance product, called ‘MeBanbɔ’ – loosely translated to ‘My Protection’ – can be easily accessed via a mobile phone by dialing USSD code 269#.
MeBanbɔ offers tailored packages of GHS 1 000, GHS 5 000, GHS 15 000 and GHS 30 000 funeral and disability cover for premiums as low as GHS 1, GHS 5, GHS 15 and GHS 30 respectively. It is the first micro-insurance product of its kind offering packages that suit different personal needs. It is open to persons older than 18 years who use the Vodafone mobile network.
RIL, Google, Facebook to be pitted against Visa, Mastercard; here s how
The consortium comprising Google, Facebook and Infibeam Avenue will likely offer its payment services overseas. The NUE, if granted an operating licence, is going to be positioned against global payments giants such as Mastercard and Visa in some markets
BusinessToday.In | April 5, 2021 | Updated 12:18 IST
The RIL-led consortium had applied for the NUE licence last week
Reliance Industries Ltd (RIL)-led consortium is planning to take its proposed New Umbrella Entity (NUE) global. The consortium comprising Google, Facebook and Infibeam Avenue will likely offer its payment services overseas.
The NUE, if granted an operating licence, is going to be positioned against global payments giants such as Mastercard and Visa in some markets.
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