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Equitel rolls out a 4G SIM card in a bid to offer its customers faster data speeds

Equitel rolls out a 4G SIM card in a bid to offer its customers faster data speeds
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The Future Of Banks Is Neo Banking – CIO East Africa

Speaking at a panel on the future of banking during the #CIOFintechSummit, Kamal Budhabatti, Group CEO at Craft Silicon described neo banking as ‘normal banking done with a different mindset’. He further noted that neo banking has still not been realised in the region due to unclear customer acquisition strategies. “The ball game in neo banking is customer acquisition. It is still unclear how o achieve this which is why mobile operators assume the role of neo banks in East Africa,” Kamal said. Advertisement But something is certain. Neobanks are taking over the fintech industry by a storm and it is a respecter of no boundaries.

Entrust Securing The FinTech World

Advertisement The COVID-19 pandemic has opened the way for great opportunities for FinTech companies. The term for it is called COVID propelled transformation. Who would have thought that a world wide pandemic will be the silver lining in ensuring the world becomes more digitally adept. Now, customer penetration has increased to record highs in an effort to ride the digital transformation wave that everyone wants to be a part of. However, with new opportunities come new risks. When risks and digital are in the same sentence, you know we mean risks of the cyber security kind. According to an Accenture report, financial services incur the highest cybercrime cost of all the industries studied. Just think about one of the largest data breaches in recent history, the Equifax incident in 2017, which exposed the personal information of 147 million people. Equifax has spent $1.4 billion on security upgrades alone in the wake of the incident.

SAP Sponsors East Africa Fintech 2021 – CIO East Africa

The rapid transitioning of virtual banking and online payments have made a seismic change in the fintech space globally, posing a real threat to the traditional brick and mortar model of banking. But better yet is the innovations like Paypal that is revolutionising the financial industry. PayPal allows customers to send and accept money in all types of currencies, with the ease to convert foreign currency to local currency and transfer the converted currency directly to the bank. This ease of transaction has seen the global financial sectors – using PayPal – grow significantly and is expected to boost the investments in the FinTech space.

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