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How is Senegal Leveraging Fintech to Overcome Major Inclusion and Economic Challenges?

The Fintech Times

The majority of traditional financial services infrastructure, such as ATMs and point-of-sale terminals, are concentrated in the capital city of Dakar, leaving rural areas underserved. However, Senegal remains a developing economy with significant challenges in financial inclusion , particularly in rural areas.

FinTech 59
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Fintech Review: A Guide

Fintech Review

In the 1980s and 1990s, ATMs, electronic trading platforms, and credit scoring systems began to take hold. Financial Inclusion Fintech improves access to credit, savings, and insurance in underserved markets. A Brief History of Fintech The origins of fintech can be traced back to the 1960s. Consumer trust in banks plummeted.

FinTech 52
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Inside Africa’s Fastest Growing Fintech: How Moniepoint is Supporting the Underbanked in Nigeria

The Fintech Times

In August 2023, we launched our personal banking solution through Moniepoints subsidiary, Moniepoint Microfinance Bank, offering a reliable debit card which can be used at ATMs, POS terminals, and online; alongside a personal banking app where users can make transfers, pay bills and buy airtime.

FinTech 59
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The End of Average: AI Is Rewriting the Rules of Digital Banking CX

Finextra

In the US, Bank of America (BofA) expanded the capabilities of its virtual assistant, “Erica,” to allow in-app money transfers and more complex queries, further reducing the need to visit a branch or ATM. While quantitative metrics here are harder to measure, one can look at engagement from traditionally underserved segments.

AI 71
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Mastercard, Banque Misr and Money Fellows Launch Prepaid Card in Egypt

The Fintech Times

per cent of Egyptians who are formally included in the financial system, offering features like online purchases, ATM transactions and exclusive discounts. Mastercard, in collaboration with Money Fellows and Banque Misr, has launched a prepaid card in Egypt, aimed at enhancing financial inclusion and accessibility.

Visa 59
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Hitachi Payment Services Surpasses the Milestone of 10,000 White Label ATMs in India

Fintech Finance

Hitachi Payment Services, India’s leading payments and commerce solutions provider announced that it has completed the deployment of 10,000 White Label ATMs (WLAs) in India. Hitachi Payment Services’ journey as a White label ATM Operator began in 2013 when it was awarded the WLA license.

ATM 52
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In Asia Pacific, Cash Usage Swell With Growth of ATMs

PYMNTS

The region is now home to more than half of ATMs worldwide, which is helping drive use of cash, according to RBR’s latest forecast. Just between 2015 and 2017, the number of ATMs in the Asia-Pacific region increased from 1.55 million to 1.72 million and are projected to reach 2 million by end of 2022, the RBR research found.

ATM 48