Emeka Awagu

Are you spending too much time chasing payments and not enough time focusing on growth?   Don’t miss our upcoming webinar, 'Managing Cash Flow & Payment Processing for Business Growth' where Andy Iyakke, Head, SME Advisory at FCMB, and Olatubosun Adebanjo, Head, Payment & Merchant Services at FCMB will share proven strategies, actionable steps, and real-world examples of how successful SMEs manage cash flow and payments.   Click the link https://lnkd.in/eQEFCijz to register.   #FCMB #MyBankandI #CashFlow #Payment #Merchant #Business #SME #Entrepreneur #BusinessGrowth #FinancialManagement

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What are the main applications of AI for payments companies? The rise of generative AI has also coincided with a greater shift in discussion of future applications for AI, relative to discussion of its current use. While all quarters saw a blend of discussion of the technology both in terms of current initiatives and those either proposed or in development, future applications went from being less than half in Q1 2023 to being over 60% of discussions by Q4 2023. Meanwhile, the potential application areas of AI also split across the year. Here, almost all discussion can be categorised into one of three areas: 👉 Fraud protection and risk management, which is typically associated with areas such as KYC and other customer verification and identification of security issues. As a long-established use of AI in payments and beyond, this is the most traditional area of focus, and is much more associated with non-generative AI. 👉 Customer service and experience, which focuses on finding ways to handle elements of the customer service process with AI. Here, applications such as chatbots have already become well-established among payments companies and beyond, although generative AI is now providing potential ways to considerably enhance this process and further reduce the need for human support. 👉 Productivity and cost gains, which focuses on finding efficiencies across operations through the use of AI. Here, generative AI is a particular area of interest, as it has the potential to notably improve productivity in areas that would not have been a focus for earlier versions of the technology. While discussion of all three areas was seen across the year, with many companies discussing multiple application areas within a single call, we do see increased focus on the second two applications as attention on generative AI increased. This is also somewhat reflected in the split of applications by timescale. While all three application types saw discussion in terms of both current and future projects across the course of 2023, more than half of those focused around fraud protection and risk management addressed current projects. Meanwhile, over half of the other two categories focused more on future initiatives. Despite some areas being more popular than others, all players discussed existing projects or plans across multiple applications. In most cases, AI discussion focused on both current and future applications, although there were exceptions to this. For example, Flywire focused exclusively on its existing uses of AI, while both FIS and Western Union spoke only of the technology in terms of its future use. Others, meanwhile, made reference to all three application groups across both current and future uses, with both Payoneer and Fiserv being examples of this approach. Source FXC Intelligence Leda Florian Alex Ali

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Today's panel features Neelan Narasimulu (EMBA), Allan Bangay, and Mkhululi Mtiti, discussing how eZAR payments are meeting the needs of labourers, the underbanked, and the unbanked, aligned with SARB's roadmap actions. #DigitalPayments #eZAR #FinancialInclusion #SARB #PaymentsInnovation #PeerToPeerPayments

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Keep payments running smoothly with Zeeh Africa’s Direct Debit. Say goodbye to the hassle of tracking down late payments and let our system automatically collect them on time, every time. It’s the easy, efficient way to ensure your business gets paid without the stress. #DirectDebit #Fintech #AutomatedPayments #ZeehAfrica #BusinessEfficiency #NoMoreLatePayments

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⚠ 🛑 Are you looking to build a fintech solution? This is for you! ⚠If you are in the value chain of delivering fintech products, i.e. #EngineeringManager, #Developer, #QAEngineer, #ScrumMaster/ #ProgramManager, #DevOps, or #ProductsManager, you also need it. ℹFintech in Nigeria is a hot-button as everyone wants a piece of the pie. According to a McKinsey report (link in comment), More than 200 independent fintech businesses plus several fintech products that banks and mobile network providers offer as part of their product lines are based in Nigeria. The thriving Nigerian fintech ecosystem raised over $600 million in capital between 2014 and 2019, drawing in 25 percent ($122 million) of the $491.6 million raised by African tech firms in 2019 alone. However, it is also murky as there is no central source of truth to guide those venturing in. This means many have been blindsided 😖 with regulations and possibly slammed with fines 💶 before they even become profitable. For those who need help navigating Fintech regulation in Nigeria, here ⬇ is a resource compiled by RegAlert to get you started. #FintechInNigeria #fintech #qualityengineering #knowledgeworker #FintechRegulation #Regulation #thoughtleader

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OPay, a Nigerian fintech startup, has experienced a significant increase in valuation, rising by over 30% since its Series C funding round in 2021 to nearly $3 billion. This growth is largely driven by the rapid adoption of digital payments in Nigeria, which has led to a surge in the use of fintech apps such as OPay and Moniepoint. As a result, OPay has seen a substantial increase in its user base and revenue, with a quadrupling of users and a 60% growth in revenue on a constant currency basis. However, OPay still faces challenges related to fraud and customer safety concerns, which have led to regulatory bodies tightening rules on account safety. Read more: https://lnkd.in/emQ_VbTk

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In the early 2000s, Nigeria's banking sector was ripe for disruption. Amidst a wave of failed core banking software implementations, a young Nigerian company, CWG, saw an opportunity. With sheer determination and a deep understanding of the local market, CWG PLC led by Austin Okere brought Infosys Finacle, a revolutionary banking software, to Nigeria. Against all odds, CWG's tenacity and innovative approach led to Finacle's rapid adoption by major Nigerian banks. There is a story of the struggles, the under-happenings, the truths, the battles, the successes here. https://lnkd.in/dmuHNCZa

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Transform your payment experience with JamboPay! Download the JamboPay App and enjoy seamless transactions at your fingertips. 🙌💰 #Fintech #SeamlessTransactions

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While there's no specific playbook for African countries to embrace PSD3 as they did PSD2, here are a few broad principles that might help them navigate this process: 👇🏽👇🏽 Follow our page FinSense Africa 🚀 for more open banking insights. #psd2 #psd3 #OpenBanking #DigitalTransformation #DigitalBanking

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I always love chatting to a countryman doing big things, even if it confuses my AI-powered transcription services which, for the first time in nearly 150 episodes, couldn't distinguish between Alex Forsyth-Thompson, CFA, CFP® and I 😄 Anyway, in today's episode, we're talking about the creation of Float and the delivery of flexible, frictionless and financially responsible instalments.

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Omnea's PayLink platform simplifies your corporate cash management by providing a single gateway to multiple banks. Say goodbye to complexity and hello to efficiency! Reach out to us on [email protected] to schedule a demo, or visit www.omnea.co.za to find out more. #SimplifyFinance #PayLink #treasurymanagement

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Wole Ayodele, CEO of payments infrastructure provider Fincra, believes African regulators should speed up the fintech licensing process to improve the ease of doing business on the continent, and we agree. What are your thoughts? 📹The Kenyan Wall Street. #AFTSNairobi2024 #fintech #regulatoryaffairs #fintechlicensing #licensingprocess

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🌍✨ Digital transformation is reshaping Africa! We're stoked to have been highlighted in the recent Nairametrics feature on top digital payment providers shaping Africa East Africa. 🚀 We provide businesses with a single, seamless platform, enabling them to process multiple types of payments. Through our single API payment platform - Tingg - we're transforming how money moves in and out of Africa and across the continent. 🌍 Read more here: https://lnkd.in/ddiZvHNV #DigitalTransformation #PaymentSolutions

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In this newsletter, Our Founding Partner, Seun Timi-Koleolu and Senior Associate, Olawale Atanda answer pertinent questions on the revocation of Heritage Bank's license and the critical lessons businesses-especially fintechs-can learn to avoid similar pitfalls in the future. Stay informed and safeguard your future! #pavestonesnewsletters #pavestones #BusinessInsights #Fintech #HeritageBank #FinancialCrisis #BusinessTips

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Aylon Spinner, Head of Technology Strategy and Architecture, CIB, Standard Bank Group Contributed an article "Banking Tailored to Client Needs" "Emerging technological trends like Artificial Intelligence and Machine Learning provide organizations with customer-centric data, which is becoming increasingly crucial in enabling us to improve and develop new products and services focusing on our client’s needs." says Aylon Spinner Read More : https://lnkd.in/gf7AAcxm #DigitalTransformation #BusinessTransformation #Cybersecurity #CloudMigration #ClientCentricity #PlatformStrategy #HybridWorkforce #EmergingTechnologies

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Africa’s connected future: Watch H.E. Wamkele Mene's keynote at #ASPSummit24 on “Payments Infrastructure for a Thriving Business Ecosystem.” He lays out a roadmap for cutting currency convertibility costs and boosting intra-African trade. Full remarks 👉🏿 https://lnkd.in/eRCqcWq6 #AfCFTA #Trade

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We’ve launched Identity APIs to help you automate your KYC and KYB onboarding process and verify customer IDs across Africa. This allows you to build a smooth onboarding process that effectively weeds out bad actors from genuine customers during onboarding. Head to korahq.com/identity to get started.

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