1. Nigeria’s FairMoney launches venture in India
FairMoney, Nigeria-based digital bank, has launched its venture in India, as it pursues emerging market growth.
FairMoney, which aims to give underbanked people access to digital financial services, was founded by Laurin Hainy, Nico Berthozat and Matthieu Gendreau.
With the new launch, FairMoney will take its digital offering and services to India, using loans as a launching pad for its future bank accounts.
Building its infrastructure to support state of the art technologies, it adapts artificial intelligence (AI) to disburse loans to users in seconds, without any human intervention.
By building this automated process, and with a focus on very large countries like Nigeria and India, FairMoney already has close to 1.5 million users across the two markets, and hopes to keep the same fast growth pace.