Skaleet’s Post

We are proud to be part of South Africa's vibrant fintech, banking and payments ecosystem, which is rapidly evolving and transforming the financial services landscape. As highlighted in a recent article, our country is recognised as a leader in fintech innovation, accounting for 40% of all revenue in Africa. Key insights from the article include: 💡 Technological Advancements: Fintech companies must stay ahead by continuously introducing innovative features and services that enhance customer experience and operational efficiency. 💡 Strategic Partnerships: Collaborating with traditional financial institutions and other fintech players can unlock new customer bases and cross-selling opportunities, essential for sustained growth. 💡 Regulatory Compliance: Navigating the evolving regulatory landscape is crucial. Staying compliant builds trust and helps avoid setbacks that could hinder progress. 💡 Focus on User Experience: Exceptional customer service and addressing user needs are vital for fostering loyalty and driving growth in this competitive market As a BaaS and PaaS enabler, we are committed to supporting businesses in leveraging these trends for success. https://lnkd.in/dhBhsfP7 www.directtransact.co.za #directtransact #BaaS #PaaS #customercentric #partner #fintech

Innovate with agility: adopt a "Buy & Build" approach 🏗️ Financial institutions want to innovate faster to stand out from the crowd and bring value to customers in a highly competitive market. There are two ways to develop their own solution: using internal resources or turning to an external, off-the-shelf solution. Whereas companies had to choose in the past, they now have a new option: combining these two methods and their respective advantages… Decoding 🕵️♀️ FR version: https://bit.ly/49jAXzf Collectif API Thinking France FinTech Finance Innovation AEFI Asociación Española de FinTech e InsurTech The LHoFT - Luxembourg House of Financial Technology The Payments Association EU FINTECH BELGIUM Fintech District Holland FinTech AFIP - FinTech and InsurTech Portugal Fintech Norway SweFinTech European Digital Finance Association Fintech Association of South Africa (FINASA) Ghana Fintech and Payments Association Association of Fintechs in Kenya Fintech Association Of Nigeria FinTecHub Rwanda Fintech Association of Uganda Tanzania FinTech Association (TAFINA) FinTech Association of Tanzania Fintech Association Of Kenya #innovation #fintech #banking #openbanking #api #financialservices #corebanking #cloud #data #buy #build #designsystem https://lnkd.in/eiSkx2pX 

𝐏𝐥𝐚𝐢𝐝 𝐏𝐞𝐫𝐤𝐬 𝐔𝐩 𝐎𝐩𝐞𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞, 𝐒𝐭𝐫𝐢𝐩𝐞 𝐋𝐢𝐧𝐞𝐬 𝐔𝐩 𝐰𝐢𝐭𝐡 𝐍𝐞𝐰𝐥𝐢𝐧𝐞, 𝐚𝐧𝐝 𝐌𝐨𝐧𝐳𝐨 𝐆𝐞𝐭𝐬 𝐂𝐥𝐨𝐮𝐝𝐲 𝐰𝐢𝐭𝐡 𝐒𝐀𝐏 𝐟𝐨𝐫 '𝐆𝐑𝐎𝐖'𝐭𝐡 All this and more in Edition #130 of the Future of Fintech Newsletter - Your Weekly Fintech Brew ☕ 🗞️ Fintech's Week in Review: Partnerships across banks, platforms, and tech providers are fueling innovation - from embedding payments to revamping core banking infrastructure. Open finance took center stage with new tools to boost user control and simplify compliance. Meanwhile, the global fintech landscape expanded with advancements in digital payments security, cloud adoption, and CBDCs. 👌🏽 The #Top3 freshly brewed fintech insights: ➊ Evolving Regulatory Landscape The draft framework on alternative authentication mechanisms for digital payment transactions by the Reserve Bank of India (RBI), and Bank of England's plans to experiment with CBDC depict that regulatory developments are increasingly focused on enhancing security and exploring new technological advancements. These initiatives are crucial for maintaining the integrity and robustness of financial systems. ➋ Open Finance and Enhanced Consumer Control Plaid's launch of two new open finance products, and SDK.finance partnering with Salt Edge to develop open banking-enabled financial services demonstrates how open finance is gaining momentum, with significant developments aimed at increasing API connectivity and giving consumers more control over their financial data. These initiatives are not only enhancing transparency and compliance but also fostering innovation by enabling new financial applications and services. ➌ Leveraging Advanced Technologies for Innovation Monzo Bank’s partnership with SAP to utilise its ERP solution GROW with SAP, and the development of the AI-powered CBDC super app “Drex” by the Banco Central do Brasil showcase how institutions are increasingly investing in technologies like AI and cloud computing to enhance operational efficiency, offer new services, and stay ahead in the competitive landscape. 🔗 𝐏𝐋𝐔𝐒! Dive into fintech learning resources waiting for you at the end, featuring: Convera, Accenture, Mastercard, NatWest, and the latest from WhiteSight! ______________ 𝐆𝐞𝐭 𝐲𝐨𝐮𝐫 𝐟𝐢𝐱 𝐨𝐟 𝐛𝐢𝐭𝐞-𝐬𝐢𝐳𝐞𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐭𝐡𝐚𝐭 𝐬𝐚𝐯𝐞 𝐲𝐨𝐮 𝐭𝐢𝐦𝐞, 𝐰𝐡𝐢𝐥𝐞 𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐲𝐨𝐮 𝐚𝐡𝐞𝐚𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐯𝐞. 🚀 🗞️ 𝐇𝐨𝐰 𝐨𝐮𝐫 𝐧𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫 𝐡𝐞𝐥𝐩𝐬: Get bite-sized insights that save you time, perfect for busy professionals on-the-go. Discover the latest fintech players and the trends shaping the industry. Gain valuable insights into the themes ecosystem players are leveraging to win. Ready to take a sip? Subscribe now and join our savvy fintech community! ➡️: https://lnkd.in/g7_u9r-Y via WhiteSight #fintech #news #embeddedfinance #digitalfinance #openfinance #infrastruturefinance #greenfinance #DeFi

Solutions: Tackling fintech woes - The Edge Malaysia: Fintech-as-a-service (FaaS) solutions have enabled small enterprises to deploy solutions, facilitating their payment processes and expanding their ...

Thanks to EPAA and AWS for organising a topic of importance to all in the ASEAN region. I was happy to contribute to this discussion where different views from BIS, payment operators, Banks and Host of fintechs were discussed and next actions were agreed. It is always challenging when we talk about cross border payments over domestic RTP rails. What transpired was that it is relatively easier to get the tech stack implemented and a bigger challenge is to overcome host of other issues like governance, common policies across market, funding payments 24*7 when RTGS works over fixed time, fx documentation, etc… I am sure with so many stakeholders focusing on this topic, at an industry level we will find an optimal solution. Winnie Yap Manoj Dugar Yvonne Yiu Harish Kumar Nicholas Soo Rohit Rozario Shayan Hazir Tancy Tan Mun Liong Lee Shadab Taiyabi Ma-an David Saikat Mandal Lewis Lei Sun Sathya Ram Priya Kini Gilbert Ng, CFA Harish Venkatesan Natarajan Sriram Shane Fernando Nishka Thadani Debby Neo Austine Chu

REPORT | Modernised payments – unveiling trends & insights https://lnkd.in/dVg5EVYz Dave Glass | CEO | Co-Founder | Electrum |  Recent research into the South African payments industry has revealed that there is a clear trajectory towards the adoption of electronic payments. This transition not only reflects evolving consumer preferences but also presents promising opportunities for all stakeholders within the ecosystem. Banks, merchants, financial institutions, fintech companies, and regulatory bodies stand to benefit from embracing innovative payment methods. Moreover, the widespread adoption of electronic payments holds the potential to significantly enhance financial inclusion across South Africa, providing broader access to financial services... #payments #banking #digital #cash #finance Dave Glass Electrum

REPORT | Modernised payments – unveiling trends & insights https://lnkd.in/dBunPMym Dave Glass | CEO | Co-Founder | Electrum |  Recent research into the South African payments industry has revealed that there is a clear trajectory towards the adoption of electronic payments. This transition not only reflects evolving consumer preferences but also presents promising opportunities for all stakeholders within the ecosystem. Banks, merchants, financial institutions, fintech companies, and regulatory bodies stand to benefit from embracing innovative payment methods. Moreover, the widespread adoption of electronic payments holds the potential to significantly enhance financial inclusion across South Africa, providing broader access to financial services... #payments #banking #digital #cash #finance Dave Glass Electrum

‘Traditional payment methods are gradually giving way to more digital alternatives’ in Asia according to Fintech News Singapore, propelled by advancements in #fintech, an increasingly digital native population, and ‘safety and hygiene concerns driving consumers away from cash transactions.’ Our digital #paymentsolutions are part of the new era of innovation, efficiency, and convenience that is dawning in Asia. #RC365 #RCGH #RCPAY #investors Learn more here: https://bit.ly/3MemKdh Learn more about RC365 here: https://bit.ly/3Wojxxy

How often do you listen the term "APIs" from a minister? Last night, I saw Hon Andrew Bayly, Minister of Commerce and Consumer Affairs mentioning APIs at the launch of Open Finance ANZ's first edition of the Aotearoa New Zealand Open Banking Ecosystem Map. This isn't the first time it's happened—I’ve been pleasantly surprised to hear non-techies and government officials discussing APIs. It’s exciting because now the conversation can shift from explaining "what an API is" to focusing on "how this API can benefit you." Listening to the Open banking panel in Auckland, I was thinking about the discussions I had in Vegas last week at Money20/20, or at Finovate in New York or in Amsterdam. We can debate over 1033, CDR, banking licenses, and more, but the undeniable common thread across the FinTech and OpenBanking ecosystem is "APIs". That's why when Brenton Charnley presenting the ecosystem map, I could only picture the APIs powering those logos, holding the entire ecosystem together. But I couldn't help wondering—how many of these logos or APIs measure up to the likes of Stripe, Square, or Plaid? While replicating FinTech use cases is straightforward, going the extra mile for robust API governance, adoption, and an excellent developer experience is a much tougher challenge. Lovely to hear Hon Andrew Bayly encouraging the Kiwi FinTech industry for excellence. I doubt that endless debates over laws and licenses will help achieve this, but I am hopeful that a commitment to excellence will drive our FinTechs to adopt innovative and modern strategies for global competition.

How will Brunei's upcoming Digital Payment Hub (DPH) facilitate cross-border payments? Ndpx CEO Hafiz Haslen—the company implementing the DPH—explains what's in the works at the recent Digital Economy Forum by Brunei Economy Programme. 𝗜𝗡𝗦𝗧𝗔𝗡𝗧 𝗧𝗥𝗔𝗡𝗦𝗙𝗘𝗥𝗦 𝗔𝗡𝗗 𝗣𝗔𝗬𝗠𝗘𝗡𝗧𝗦 𝗕𝗘𝗧𝗪𝗘𝗘𝗡 𝗗𝗜𝗙𝗙𝗘𝗥𝗘𝗡𝗧 𝗕𝗔𝗡𝗞 𝗔𝗡𝗗 𝗘-𝗪𝗔𝗟𝗟𝗘𝗧 𝗔𝗣𝗣𝗦 Banks and apps that join the DPH will allow their users to make instant transfers and payments across platforms. You’ll be able to seamlessly transfer or pay from Bank A to Bank B and vice versa. This service is expected to launch by the end of 2024. 𝗗𝗣𝗛 𝗜𝗦 𝗡𝗢𝗧 𝗜𝗧𝗦 𝗢𝗪𝗡 𝗠𝗢𝗕𝗜𝗟𝗘 𝗔𝗣𝗣 The DPH is a back-end system that financial apps can choose to integrate, allowing users to make fast, easy transfers between different apps. It won’t appear as its own app. 𝗪𝗛𝗔𝗧 𝗔𝗕𝗢𝗨𝗧 𝗖𝗥𝗢𝗦𝗦-𝗕𝗢𝗥𝗗𝗘𝗥 𝗣𝗔𝗬𝗠𝗘𝗡𝗧𝗦? As a centralized platform, the DPH simplifies the process for cross-border payment providers to enter Brunei. With approval from @centralbank.brunei, these providers can access Brunei’s payment network directly through DPH, without needing to negotiate with individual financial institutions. The company managing DPH—National Digital Payments Network (ndpx)—is also working on cross-border solutions. One of these is the ASEAN QR Code, which aims to enable cross-border payments via QR code for any participating banks or e-wallets in ASEAN countries. This would mean that users of Brunei apps—integrated with DPH—could make payments overseas in ASEAN countries. But they have to meet the following: • Country adoption of the ASEAN QR standard • Establishing bilateral technical connections between participating countries 𝗪𝗛𝗢 𝗢𝗪𝗡𝗦 𝗡𝗗𝗣𝗫? Ndpx is a joint venture between Brunei’s leading financial institutions—Bank Islam Brunei Darussalam, Baiduri Bank, and Perbadanan Tabung Amanah Islam Brunei—along with Darussalam Assets, a holding company that owns Brunei’s government-linked companies.