Strandling Exponential Performance with Stringent conformance – the Fintech Dilema
Register here: https://lnkd.in/eHjvMg5K
Mitigating Digital Fraud in Africa: A Holistic Approach to Combating Emerging Threats
Register NOW: https://shorturl.at/8k5vC
FUNDING | UK Fintech, ZEPZ (Formerly WorldRemit), Raises $267 Million to Pursue Expansion in Core African Markets
Sendwave parent company, ZEPZ, has raised $267 million from new and existing investors to fund expansion in its core African markets and beyond.
The round was led by venture capital firm:
- Accel
with participation from:
- Leapfrog and
- TCV while
- The International Financial Corporation (IFC) pledged to invest as much as $20 million
Formerly WorldRemit, Zepz was founded in 2010 by Somali refugee and entrepreneur, Ismail Ahmed, who was frustrated at the high transaction fees to send money to his family in East Africa. The firm became the UK’s first black-founded fintech company to be valued at $1 billion and reached full-year profitability in 2022.
Read more: https://bitcoinke.io/2024/10/zepz-raises-funding/
Morocco’s CIH Bank selects Backbase to power its digital transformation
CIH Bank has teamed up with Dutch digital banking solutions provider Backbase to advance its digital transformation strategy.
The Morocco-based bank, which specialises in real estate and hospitality financing as part of the Caisse de dépôt et de gestion (CDG) group, is deploying the vendor’s Engagement Banking platform as part of the partnership.
Recently selected by the likes of MyState Bank, Furness Building Society and OneAZ Credit Union, the flagship solution offers features designed to enhance financial institutions’ capabilities in areas such as lending, investments and customer engagement.
10 Startups Join Mastercard’s Start Path Program to Drive Innovation in Fintech
Mastercard has announced the latest cohort for its Start Path Emerging Fintech program, welcoming 10 innovative startups that are transforming the payment technology industry. These startups were selected for their groundbreaking work in areas such as sustainability, cybersecurity, digital transformation, and travel, and will participate in the globally renowned startup engagement initiative.
Five of the companies showcased their commitment to sustainability during NYC Climate Week in September, focusing on impact data calculations. The remaining five are leveraging cutting-edge technologies to address cyber threats, streamline digital transactions, and revolutionize the travel industry.
B.Tech partners with Valu to expand consumer finance options in Egypt
Egypt – B.TECH, a leading retailer of electronics and home appliances in Egypt, has signed a cooperation protocol with Valu, Egypt’s leading lifestyle-enabling fintech platform, as per an emailed press release.
This partnership marks the first step in B.TECH‘s strategy to collaborate with major consumer finance providers, aimed at expanding flexible payment options for its customers.
The agreement aligns with B.TECH‘s ongoing commitment to providing diverse financing solutions across its extensive network of branches, which span 24 governorates with over 190 stores.
Milken-Motsepe Prize in FinTech Announces 10 Semifinalists
The Milken Institute and the Motsepe Foundation announced the 10 teams advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech (https://apo-opa.co/3Y0GSEY), with each team receiving $100,000 in funding.
Responding to a global call for applications, this prize supports innovative solutions to expand access to tools necessary for financial inclusion across emerging and frontier markets.
The Semifinalists will participate in an Innovation Showcase at the Milken Institute’s Middle East and Africa Summit December 5-6, 2024, in Abu Dhabi, UAE. During this event, the 10 teams will pitch their innovations to a panel of expert judges and investors, and three teams will be selected to move on to the final round of the prize. The judges will evaluate the pitches based on the teams’ ability to deliver solutions that improve financial inclusion for under-resourced groups in emerging and frontier markets.
Jamie Dimon charts JPMorgan expansion plan into Africa
NEW YORK – JPMorgan Chase, the largest U.S. lender, plans to enter Kenya and Ivory Coast this year and grow its footprint in Africa, CEO Jamie Dimon told Reuters.
International markets are a growth area for JPMorgan, which has more than $4.2 trillion in assets and operates in over 100 countries. That compares with Citigroup, which does business in almost 180 countries and has the largest global footprint among U.S. banking giants.
“We want to add a country or two (enter or deepen presence) in Africa, every couple of years or so,” Dimon said by phone from New York on Friday before departing on a trip to Africa. The countries and pace of expansion have not previously been reported.
