Strandling Exponential Performance with Stringent conformance – the Fintech Dilema
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Fintech Festival Tanzania 2024
The Fintech Festival Tanzania 2024 is a premier event in East Africa, bringing together over 5,000 C-suite leaders, 1000+ pre-qualified investors, 200+ speakers, 100+ exhibitors and more key players from the financial technology ecosystem. Scheduled for November 21-22 at the Julius Nyerere International Convention Center in Dar es salaam, Tanzania, the festival offers a platform to explore cutting-edge innovations, trends, and opportunities in Fintech, digital banking, blockchain, cybersecurity, and more. With over 100 exhibitors, 200 speakers, and 50 sessions, this two-day festival will drive innovation and foster collaboration in the East African Fintech sector.
Read more: https://www.biometricupdate.com/202410/fintech-festival-tanzania-2024
Mastercard targets real-time card payments in South Africa
The firm says it is rolling out new “standards and solutions” which will accelerate the processing speed for card transactions. ACI Worldwide is onboard to help acquirers adopt the real-time transaction processing standards.
This means merchants in South Africa will receive faster payouts, empowering businesses with better cashflow management and faster funds availability. This, in turn, says Mastercard, provides firms with more visibility and control over their funds, frees up capital and increases the velocity of money in the economy.
In the future, Mastercard will also enable issuing banks in South Africa – and around the globe – to process real-time card payments, providing consumers with increased transparency, faster payments, and real-time insights into their funds.
Inclusion Through Digital Public Infrastructure in Africa: Driving Social and Economic Transformation
Digital identity systems are central to inclusion in Africa. These systems enable individuals to verify their identity online, granting access to various public and private services. In many African countries, significant portions of the population lack formal identification, which restricts their ability to open bank accounts, receive social benefits, or participate in the formal economy. By providing digital identities, DPI ensures that these individuals can be recognized and included in social, political, and economic life (World Bank, 2023).
For instance, Kenya’s Huduma Namba digital identification program aims to consolidate citizens’ data across multiple government databases, simplifying access to services. In countries like Nigeria, the National Identification Number (NIN) initiative is also expanding the scope of digital identity, particularly by linking this system to mobile phone registration (Nigerian Communications Commission, 2024). This enables millions of Nigerians, including those in rural areas, to access critical services that were previously out of reach.
OPINION: How fintech innovation can overcome trade barriers to unlock Africa’s SME growth
Envisioning a prosperous Africa where small and medium-sized enterprises (SMEs) are ambitious enough to consider the entire continent as their primary market is not just a dream- it’s an attainable reality that is currently underway.
The key to this transformation lies in dismantling the financial barriers that currently hinder progress.
In this foreseen future, a robust intra-African payment ecosystem would unleash unprecedented growth across various sectors, driving not only business expansion but also creating new employment opportunities and bolstering essential industries.
Bootstrapped Fintech Surfin Lands US$12.5M in First External Funding Round
Fintech firm Surfin has raised US$12.5 million in Series A funding from Insignia Ventures Partners.
Surfin began with consumer lending and has since expanded into various financial services, including payments, remittance, credit card issuance, and wealth management.
The company leverages AI and data analytics to support its operations, enabling it to provide scalable financial services tailored to the needs of the underserved middle class.
Read more: https://fintechnews.sg/102125/lending/surfin-us12-5m-funding/
Vodafone partners Google to boost AI phones, services across Africa
Vodafone Group Plc has entered into a 10-year partnership with Alphabet Inc.’s Google to provide advanced cloud services, generative artificial intelligence tools, and enhanced cybersecurity features to customers across Africa and Europe.
The deal marks a significant step towards integrating AI technologies into Vodafone’s offerings, which aim to improve digital experiences and boost operational
TerraPay and Fabrick partner on cross-border payments in Europe
Initially focused on the Italian market, this partnership will enable businesses to access a unified platform that streamlines payment processes, reduce operational costs, and ensure compliance with regulatory requirements.
It represents a significant milestone in Fabrick’s international growth and consolidation strategy, building on its strong presence in Italy, Spain, and the United Kingdom. Following the recent acquisition of finAPI, which enabled Fabrick to enter the strategically important DACH region, Fabrick has continued to solidify its position at the forefront of Europe’s digital payments landscape.
