Global Fintech Trends
Africa Fintech Network
A platform that unites Africa fintech leaders, organizations and stakeholders.
Africa Fintech festival closes in [Naivasha]
Technocrats at the Africa Fintech Festival have resolved to collaborate in driving technology growth in the Continent through standardization of crossborder transactions, partnership opportunities, and empowering innovation through local funding. Chairman of associations of Fintech in Kenya, Ali Hussein says the festival sought to accelerate the adoption of Fintech solutions and address challenges and opportunities in the continent.
Watch it here: https://www.youtube.com/watch?v=ekI0xv_NE1w?
Africa Fintech Festival Advocates “Passporting” For Continental Fintech Growth
The Africa Fintech Festival has sparked robust discussions on the future of fintech regulations across the continent. One of the key takeaways from the event was to push for smart regulation and explore the concept of “passporting” fintech regulations, a model that could significantly streamline the licensing process for fintech companies operating in multiple African countries.
The passporting model, as discussed by industry leaders at the festival, involves regulators in different African countries recognizing and trusting the fintech licenses issued by other African nations. This would allow fintech companies to operate across borders with minimal additional regulatory hurdles, requiring them to comply only with specific local requirements rather than undergoing a complete re-licensing process in each new market.
Read more here: https://cioafrica.co/africa-fintech-festival-calls-for-passporting-as-key-to-fintech-growth-across-the-continent/
Ecobank Fintech Challenge 2024
Win, explore, and expand
As a Fintech innovator, leverage the annual Fintech Challenge to launch your product across Ecobank’s pan-African markets and help make Africa better
Read more here: https://www.ecobankfintechchallenge.com/challenge?
Safaricom and Pezesha launch new loan service for small businesses
Safaricom, Kenya’s top mobile network, has picked Pezesha, a digital lender, to provide credit to small business owners, which will add to the telco’s existing loan products, including M-Shwari and Fuliza. The new product,? Mkopo wa Pochi, will allow small business owners to borrow money directly through their M-PESA business accounts.?
Mkopo wa Pochi, already available through Safaricom’s M-PESA super app through an update rolling out today, will complement Pochi la Biashara, Safaricom’s business wallet for small business owners.
This marks Pezesha’s debut in Kenya’s mobile money market by partnering with Safaricom, which will give it access to the telco’s vast customer base of over 32.4 million active M-PESA users.?
Read more here: https://techcabal.com/2024/06/17/safaricom-mkopo-wa-pochi-pezesha/?
MALAYSIA EMBRACES DIGITAL BANKING REVOLUTION
he financial landscape in Malaysia is undergoing a significant transformation as digital banks emerge, bringing with them a wave of innovative online financial services. This shift is largely fuelled by the rapid spread of internet connectivity, altering the traditional approach to money management.
The COVID-19 pandemic accelerated the move towards cashless transactions, and the demand for digital banks in Malaysia has skyrocketed. These banks operate without the need for physical branches, aligning with the modern consumer's preference for digital solutions. The same can be said for online stock platforms in Malaysia that have also seen an acceleration.
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Mastercard Collaborates with Thought Machine to Modernize Banking Systems
Mastercard and Thought Machine, a cloud-based banking technology company, have teamed up to provide financial institutions with banking and payment solutions. This collaboration aims to transform the banking sector by integrating Mastercard’s extensive global network with Thought Machine’s cloud-native banking technology.
Read more here: https://www.financemagnates.com/fintech/mastercard-collaborates-with-thought-machine-to-modernize-banking-systems/?
Fertile fintech scene driving digital banking in Saudi Arabia
RIYADH: The digital revolution within Saudi Arabia’s banking sphere has significantly enhanced the nation’s economic panorama, facilitating effortless financial transactions for customers, experts have told Arab News.
Situated in the heart of the Middle East, the Kingdom stands out not just for its deep-rooted history and cultural legacy but also for its swift embrace of digital advancements, notably within the banking domain.
Read more here: https://www.arabnews.pk/node/2532116/business-economy?
Biden admin, Mark Cuban reportedly set for high-stakes Bitcoin roundtable in DC
Over the weekend, Bitcoin Magazine reported that US Congressman Ro Khanna, representing California’s 17th congressional district, is set to host a Bitcoin and blockchain roundtable in Washington, D.C., in early July, according to a private email sent by Khanna’s office and seen by Bitcoin Magazine. Khanna’s office reportedly described the upcoming meeting as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”
Read more here: https://cryptoslate.com/biden-admin-mark-cuban-reportedly-set-for-high-stakes-bitcoin-roundtable-in-dc/?
South Korea Announces $14.5 Million Blockchain Support Program
The South Korea Ministry of Science and Information and Communication Technology (ICT) and the Korea Internet & Security Agency (KISA) will launch a blockchain support project.
According to a recent report by Naver, the program will promote six projects in the public sector for public services and eight in the private sector to support commercialization, with a total budget of 20 billion won, approximately $14.5 million.
Read more here: https://cryptonews.com/news/south-korea-announces-14-5-million-blockchain-support-program.htm?
US to Stop Advance Payments for Medicare Providers Hit by Change Hack
(Reuters) -The Centers for Medicare and Medicaid Services said on Monday it plans to close the advance payments program it started to help some Medicare providers and suppliers affected by disruptions at UnitedHealth's Change Healthcare technology unit.
It launched the payments program in March after a hack at Change Healthcare on Feb. 21 by a group called ALPHV, also known as "BlackCat", disrupted medical insurance payments across the United States.