Why is FinTech Gaining Significance in Africa?
More and more the banking industry in Africa is trying to recover vast segments of the population that are low income consumers and/or SMEs working in informal markets with limited or no means of accessing the traditional banking systems. Africa IS the biggest under served-market, with more than 330 million adult Africans lacking formal financial services and infrastructures. Ultimately, it will be the FinTech players who will be competing for the lion’s share of the unbanked market, providing them with new and innovative solutions to attract this new wave of customers. This white paper provides answers to the following questions:
? Why are FinTech companies gaining significance in Africa?
? How are mobile solutions increasing credit penetration in Africa?
? How is mobile data applied to identify customers’ creditworthiness?
? Who are the top FinTech players in Africa?
This white paper is brought to you by Afri Kash possibly Africa’s most advanced FinTech startup providing innovative financial services and solutions to the unbanked:
Deputy Chief Regional Field Technology Service @ UN RSCE | BRMP, ICT Operations ?? | Former President @UN Field Staff Union & @UN International Civil Servants’ Federation (UNISERV) |Views I express are my own not UN's|
7 年Good paper!