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barclays-rise - News

  • Boosting financial inclusion through fintech solutions

    While the opportunity for people in Africa to access formal financial services has improved in the last five years, thanks in large part to the prevalence of mobile based solutions, various barriers to access across the continent remain. The last World Bank Global Findex Data showed that 34 percent of adults on the continent had a bank account and only 16 percent had formal savings in place. South Africa fared better with 70 percent of adults owning a bank account but only a third of the nation had formal savings. Research published as part of the World Economic Forum on Africa...

  • How insurtech partnerships are disrupting traditional sectors for the better

    South Africa’s funeral insurance market is booming. It is the most prevalent type of insurance in the country, with the Centre for Financial Regulation and Inclusion (Cenfri) reporting that just under 90% of cover falls into this sector. In a digitally-driven world, service providers in this space no longer necessarily look the same. In fact, many traditional insurers are now looking to combine forces with technology (fintech) and insurance technology (insurtech) companies, which can often quickly draw large client numbers through innovative and nimble offerings. Research by PwC shows that nine out of 10 insurance companies fear losing business to fintech startups, but...

  • Blurring of fintech, agritech holds significant potential impact for Africa

    The transformative power of fintech innovations has had far-reaching consequences on the financial services sector, disrupting traditional banking models and bringing about previously unimaginable changes in the way customers bank and pay. Technology is also transforming other industries, such as agriculture and health services. And because most industries have a financial element, the lines between the technology changes in fintech and other industries such as agritech are beginning to blur. This makes for even more exciting possibilities. “More and more we are seeing the convergence across sectors, and for emerging markets this systemic approach is a useful way to address the complexity,”...

  • Why all fintech startups should consider joining a global innovation hub

    Entrepreneurs in the fintech space have been shaking up the banking industry for a number of years and their impact continues to grow, making it imperative to collaborate with the startups that are helping to shape the future of financial services as we know it. Stories of entrepreneurs who "cracked the code" in the basement and became overnight billionaires are plentiful, but in most cases, a great idea is only half the battle won. And in most cases, successful entrepreneurs have to invest time and money over long periods to get an idea off the ground and through to execution...

  • Barclays Accelerator programme in full swing

    The 2017 Barclays Accelerator is in full swing at the Rise fintech innovation hub in Woodstock, Cape Town, with ten fintech companies on site, participating in a tried and tested start-up accelerator programme presented by Barclays Africa in conjunction with US-company Techstars. The 13-week programme sees startup fintech companies follow a growth acceleration curriculum designed by Techstars, which has supported more than 900 technology startups across 23 cities around the world. The experience is enhanced through the involvement of a network of local and global mentors, as well as Barclays Africa executives, who help shape participants’ business plans and development. The...

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