The spread of digital technology and infrastructure has given rise to fintech, but it’s also driven the popularity of non-financial services like social media apps, gig platforms, and e-commerce sites. “Embedded finance” refers to the integration of financial tools into this growing array of services. What forms will embedded finance take in the future? What are the biggest opportunities and risks and what players are driving it in different regions?
As a fully digital retail bank in South Africa, TymeBank has created a suite of basic products that cater to the essential financial needs of low-income rural customers.
Microfinance Solvency and COVID-19: A Call for Coordination cgap.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cgap.org Daily Mail and Mail on Sunday newspapers.
Eko Grows Agent Network Tenfold Through Open APIs
December 2020
From 15,000 to 150,000 agents in just three years
Eko India is a fintech company founded by brothers Abhishek and Abhinav Sinha in 2007. Its core business model uses agents to offer customers, who pay cash over the counter and remittance services provided by banks and other services providers. Its target customers are low- and moderate-income earners in urban areas.
When Eko launched, it planned to build its own agent network, which would have been a capital-intensive undertaking. However, as more players entered the market and money transfer services became hypercompetitive, it refocused its business model to better leverage its core competencies, which included (i) an excellent technology platform, (ii) expertise in onboarding and partnering with multiple banks, and (iii) the ability to ensure agent compliance with myriad regulations and bank risk management practices.