Banks and fintech are collaborating together aiming to combat deepfake video and audio content generated by fraudsters. This type of fraudulent activity takes image manipulation to the next level by using Artificial Intelligence (AI) to produce fake audio and videos. Face-swap videos and voice cloning are the best-known types of deepfake which are used to […]
FinTech
Founded in the US and led by an experienced Africa-centric team, the new African fintech Makeba announced it has exceeded the intended minimum raise goal. With an initial value of $30 million, the company brought $200.000 during the crowdfunding campaign. Interested individuals were allowed to invest in Makeba for as little as $240 through Wefunder […]
Payment Service Banks are a new category of banks that function with smaller-scale operations. Nigeria’s Central Bank announced that it would grant more licenses for Payment Service Banks within a minimum capital base of $13 million. This move could have impacts on telecom services and other companies who have expressed interest in digital financial services, […]
Financial technology (Fintech) aims to compete with traditional financial methods to deliver more efficient services. Fintech’s worth is estimated to be $4.7 trillion in 2020 and around 12,000 Fintech startups have opened worldwide, though a significant impact was felt in the marketplace with the Coronavirus. This is the case with Pakistan, which has an economy […]
Hong Kong is committed to the growth of their fintech sector. With a national GDP of $341.4bn, the city is fast becoming a hub for digital transformation. The rapid advancements in technology has led to the rise in fintech innovation and online banking methods which has supported consumer needs amid the pandemic. The latest report […]
Technology is fundamental to the retention of customers, for one simple reason. Technology facilitates and drives the development of services, expected by the tech savvy client. People are always looking for ways to make their payment processes faster, safer and more convenient. Fintech adoption has rapidly escalated amid the pandemic, which has meant that banking […]
UK trade with Ireland faced significant growth between 1999 and 2018 registering £ 2.9 billion and £13.5 billion respectively, according to a briefing paper Statistics on UK trade with Ireland published on January 14, 2020, by the House of Commons Library. In 2018, Ireland was the UK’s 5th largest export market and the 10th largest […]
African countries long served by traditional banks are experiencing a huge digital financial transformation amid Covid-19. The move – initially used to control the spread of the virus – might position Africa as an international leader in digital banking which will boost the digital economy. According to the GSMA report entitled “State of the Industry […]
On June 15, 2020, WhatsApp launched digital payment in Brazil- the second largest market for the messaging app. A month prior to its launch, WhatsApp started a small test of the service. Unfortunately, Brazilians did not have plenty of time to enjoy the service as it was shut down a week after it has been […]
The global mobile money market is expected to witness a CAGR of 21.4% during the forecast period of 2020 to 2030, according to a new research report released by FMI. Quick turn made by some of high potential economies with limited digital financial inclusion among masses to digitize payments has been a key enabler for mobile money. […]