Banking & Fintech – Page 3 – Hakuna Matata Media

Tuum, Google Cloud Partner to Enhance Digital Banking

2 months ago2 months ago03 mins

Banking technology provider Tuum has announced a strategic partnership with Google Cloud Security to enhance digital banking capabilities across the EMEA region. This collaboration aims to optimize scalability, security, and performance of digital banking services while significantly reducing operational costs for financial institutions. By leveraging Google’s advanced cloud technologies, Tuum is positioning itself to meet the growing demands of the banking and fintech sectors.

Three Kenyan FinTechs Chosen for Milken-Motsepe Prize in FinTech

2 months ago2 months ago05 mins

Three Kenyan fintech startups have made impressive strides by advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech, each receiving $100,000 in funding. The startups—AZA Finance, Chumz, and Paycloud—are notable players in the fintech ecosystem, offering innovative solutions to address key challenges in financial services. AZA Finance focuses on providing businesses with low-cost, efficient services such as payments, currency exchange, and treasury management across major currencies. Chumz employs behavioral psychology in its gamified savings platform, helping individuals save at low costs. Meanwhile, Paycloud tackles the issue of late payments in Africa with seamless payment processing, automated invoicing, and financial tools designed to enhance the user experience.

NCBA Launches Solar Leasing Product for Local Businesses

2 months ago2 months ago04 mins

NCBA Bank continues to advance its sustainability agenda with the launch of a new Solar Photovoltaic (PV) campaign, aimed at helping local businesses reduce carbon footprints and manage rising energy costs. Announced on Tuesday, this campaign underscores NCBA’s commitment to supporting businesses through innovative financial solutions that promote clean energy adoption and long-term sustainability

Standard Chartered Expands Foreign Currency Investments in Kenya

2 months ago2 months ago03 mins

Standard Chartered Bank is expanding its suite of foreign currency investment options, offering Kenyan investors more ways to access global markets. With the introduction of new products such as USD Money Market Funds, USD Corporate Bonds, USD Government Bonds, and Signature CIO Funds, the bank is catering to the growing demand for international investment opportunities.

Yellow Card Raises $33M in Series C Funding

2 months ago2 months ago04 mins

Yellow Card, the first licensed stablecoin on/off ramp in Africa, has successfully closed its Series C financing, securing US $33 million in equity funding. The financing round was led by Blockchain Capital, with significant contributions from several prominent investors, including Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital. This milestone not only underscores the company’s growth trajectory but also highlights the expanding potential of the African fintech industry as a whole.

Absa, Standard Bank Partner with Saudi EXIM Bank for Trade

2 months ago2 months ago05 mins

The partnership between Absa Group, Standard Bank Group of South Africa Limited, and Saudi EXIM Bank marks a significant step towards enhancing trade and export opportunities between Saudi Arabia and South Africa. Signed during the Saudi-South African Business Forum in Johannesburg, this strategic agreement aims to deepen economic relations and create a framework for future collaboration. The deal also comes at an opportune time, coinciding with the visit of Saudi Arabia’s Commerce Minister, Dr. Majid Al-Kassabi, to South Africa, underlining the importance of building stronger economic ties between the two regions.

Verve International Surpasses 70M Issued Payment Cards

2 months ago2 months ago04 mins

Verve International has achieved a remarkable milestone by issuing over 70 million payment cards, representing a 40% increase in issuance volumes within just 15 months. This rapid growth is a testament to Verve’s significant role in Nigeria’s domestic payment ecosystem, where the demand for secure and convenient payment solutions continues to rise. The achievement not only underscores Verve’s dominance but also reflects its ability to scale effectively to meet the evolving needs of users across the country.

Banking & Fintech

Jamie Dimon Embarks on Africa Tour, Expanding JP Morgan Footprint

2 months ago2 months ago04 mins

Jamie Dimon, CEO of J.P. Morgan, has officially embarked on an Africa-wide trip following the bank’s recent expansion into the continent. This initiative comes on the heels of J.P. Morgan securing licenses to establish new representative offices in Nairobi, Kenya, and Abidjan, Côte d’Ivoire. The expansion reflects J.P. Morgan’s commitment to strengthening its presence in key emerging markets and enhancing its service offerings across Africa.