Page 22 - Fintech Summit News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 this way, it becomes immediately clear that the notion of Fintech as a recent phenomenon is sorely ...

“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 personal strength of character to stay the course because disruption can and will take take time. A si...

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,” Kamal said. Advertisement But something is certain. Neobanks are taking over the fintech industry by a s...

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 scams. “Data is the first thing cyber attackers are after, intellectual property is a close second” ...

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 digital are in the same sentence, you know we mean risks of the cyber security kind. According to an A...