Technology

Fica specialist ThisIsMe stormed to victory at the first time of asking in the Innovative Banking category at the African FinTech Awards 2017, hosted at the Finance Indaba Africa at the Sandton Convention Centre in October. The FinTech firm, which has experienced exponential growth over the past year and has already surpassed the notable milestone of one million verifications, also claimed the overall title along with reigning champion Easy Equities.

South African FinTech Jumo has secured $24 million in funding into Africa and Asia. London-based Gemcorp Capital and Finnish development finance company Finnfund were the loan providers.

After the incredible success of this year’s African FinTech Awards, the annual pitching and prize-giving extravaganza is expected to outdo itself yet again in 2018. Judges for the awards event gathered for a scrumptious breakfast on 7 November to discuss some of the event’s most exciting additions, tweaks and extras.

Monetary Authority of Singapore MD Ravi Menon has warned investors to be wary of peer-to-peer lending platforms and cryptocurrencies such as Bitcoin, according to Bloomberg.

Venture capital firm Village Capital has partnered with US payment platform PayPal to launch a three-month investment readiness programme Village Capital FinTech Africa, which will see two early-stage African startups walking away with $50 000 in investment funding. Applications to the programme opened last week and will close on 24 November.

During a riveting Sage event, finance and IT leaders were entertained, educated and inspired by two of Cape Town’s most knowledgeable CFOs and South Africa’s number one Internet of Things (IoT) expert.

The Bill & Melinda Gates Foundation has released a new open-source software for creating payment platforms that will help unbanked people around the world access digital financial services. The software is designed to provide a reference model for payment interoperability between banks and other providers across a country’s economy. It is available now, free-of-cost, for software developers to adapt and banks, financial service providers and companies to implement. Information on the code can be found at mojaloop.io.

Four black-owned South African financial services start-ups each won R1 million on Monday night at a pitching event hosted by AlphaCode, a club for next-generation FinTech entrepreneurs backed by RMI Holdings.

Three South African developers who spent time in the USA have created the Slide app, which has the potential to start a payments revolution in the country.

Local FinTech Yoco and Mastercard have announced a collaboration that will see the rolling out of 15,000 mobile Point of Sale (mPOS) devices to small and medium-sized businesses by the end of the year, while educating them on the benefits of going cashless.

“Information maturity defines the difference between a good and a great business,” says Nick Bell, CEO of Decision Inc. “Proper use of data is not about impressing during board presentations with clever-looking graphs,” he says. “It’s about using information to improve important parts of the business, like logistics or preventive maintenance.”

Africa presents the ideal environment in which to evolve a new cash and payments services architecture – by linking rapidly changing customer expectations with new technologies. This puts banks squarely at the centre of mediating the creative clash of trends and technology – as Africa’s financial institutions harness disruption for innovation and growth.

Ghana’s Bloom Impact, a machine learning loans marketplace accessible from smartphones has raised undisclosed funding from Engineers Without Borders Canada, EWB Ventures, an early-stage investor in innovative Africa-based social enterprises.

Financial services provider FedGroup has announced its acquisition of a controlling stake in Emergent Energy, the largest provider of installed solar photovoltaic (PV) commercial projects in South Africa.

Robotic process automation will not replace accountants. In fact, automation can only make life easier, believes Josh May, senior solutions consultant and product manager at Blackline, who spoke last week at Finance Indaba Africa 2017, held at the Sandton Convention Centre.

It is vitally important for today’s CFO to be tech-savvy, though they should resist the urge to purchase technology for technology’s sake and instead respond to the needs of the business. This was the advice of Christine Ramon, CFO of AngloGold Ashanti, and Wayne Koonin, CFO of Omnia Holdings and winner of the Finance & Technology Award at this year's CFO Awards, during last week’s Finance Indaba Africa 2017, held at the Sandton Convention Centre.

Ryan Canin, the CEO of DocFox, which has gone from software development to a truly global business a verification and authentication FinTech, put on a rollicking masterclass in front of a packed house at the African FinTech Awards at the Finance Indaba Africa on 12 October at the Sandton Convention Centre.

This is the most transformative era in history and Section 12J venture capital company Kalon Venture Partners, formerly known as Grotech, is expecting to be at the forefront of change in Africa, said CEO Clive Butkow in an informative session at the African FinTech Awards at Finance Indaba Africa at the Sandton Convention Centre on 13 October.

Technology should be enslaved to humanity – and not the other way around. Here’s how to make sure that happens.

In an age where cloud computing is fast becoming the standard approach to data management, many companies still work in silos, each division having their own ERP system or cloud platform to work from. This presents a risk as it can lead to having duplicated data, which is not only inefficient but can lead to bad decision-making, advised Sarah George, ERP strategy leader for Africa at Oracle and Ronnie Toerien, HR strategy leader for Africa at Oracle, during their session on 13 October 2017 at Finance Indaba Africa.

The judges could not choose between EasyEquities and ThisIsMe and so, for the first time in African FinTech Awards history, there was a tie for overall winner at Finance Indaba Africa 2017 on Friday, 13 October, after two days of intense pitching battles.

With InvesTech firms redefining the investment sphere and taking the challenge to bloated traditional institutions in terms of solutions, education and platforms, there was naturally a lot of interest in their pitches at the African FinTech Awards. Some big players and familiar foes in the form of EasyEquities, ZAR X and Wealth Migrate went head-to-head on the second morning of Finance Indaba Africa on 13 October 2017.

Imagine if you had access to a suite of tools at no cost to help you minimise expenses and drastically improve your revenue. What if these tools included an on-the-ground assessment by senior resources to show you exactly how to improve profits in a very tangible way?

Three category winners were announced at the end of a first day of pitches at the African FinTech Awards, part of Finance Indaba 2017 at the Sandton Convention Centre on Thursday, 12 October, with a couple of familiar faces dominating once again.

EasyEquities brand manager Carly Barnes never imagined that she would be on a stage at a finance event or be involved in investment in any shape or form. The purple-haired livewire recounted her journey from being an actress and performer to building the EasyEquities brand and her own portfolio during an extraordinary session at Finance Indaba Africa on 12 October 2017.

The organisers of the African FinTech Awards didn’t dally about this year, hauling out the heavy artillery in the form of the hotly anticipated Blockchain and Bitcoin pitches shortly after the opening of the Finance Indaba Africa 2017 at the Sandton Convention Centre on Thursday, 12 October.

“The marketplace expects CFOs to be certified accountants but organisations are pulling in CFOs who are able to marry their trade of accounting with the technological capabilities and all the benefits that come with that. CFOs previously used technology to drive standardisation through the organisation to gain control, but are now using it to adapt their organisations to a changing environment and to react more quickly to these changes,” says Derek Bose, Oracle’s senior manager for Southern Africa. Derek believes that technology will augment human capability in future and, he says, the role of the CFO is one of the first in line.

The finance department is under increased pressure to provide business, regulators, shareholders and other stakeholders with the necessary information to enable strategic decision-making and governed corporate performance processes. Often seen as increased workloads due to manual production of reports, budgets, consolidations and other spreadsheet processes, the finance office of the future is automated, efficient and strategic, alleviating and mitigating the risks and challenges being faced today. Join the Karabina team at this Finance Indaba Africa session to understand how utilising the right technology enabled the finance team of a JSE-listed company to achieve these results. Create a more productive environment that requires less, and do it successfully!

The finance department is under increased pressure to provide business, regulators, shareholders and other stakeholders with the necessary information to enable strategic decision-making and governed corporate performance processes. Often seen as increased workloads due to manual production of reports, budgets, consolidations and other spreadsheet processes, the finance office of the future is automated, efficient and strategic, alleviating and mitigating the risks and challenges being faced today. Join the Karabina team at this Finance Indaba Africa session to understand how utilising the right technology enabled the finance team of a JSE-listed company to achieve these results. Create a more productive environment that requires less, and do it successfully!

The technology and smart financial systems that are available today can deliver tremendous value for your business. Best-of-breed, cloud-based systems enable your team to make the business stronger. Despite these benefits, only a small percentage of medium-sized companies have implemented all the tools that are available to them. Many of us reason that our current legacy systems and processes are not great but are good enough for now. And, to be honest, we dread the idea of a big IT project and the stress that comes with change. How can you clear these obstacles so that you can really benefit from the digital era? During this hands-on Finance Indaba Africa workshop, learn valuable, practical insights on how to successfully implement the best technology. Don't miss out hearing first-hand how EOH's Paco Cervantes transformed the finance function in 100 days.

As a finance professional, you are surely working hard to help your business make the right decisions. You know how to deal with financial data and you have the skills to turn data into valuable information. Many of us feel, however, that we need to do more. What we want is to turn all our data into actionable insights across all aspects of the business. How does that work? And is that possible with our current systems and processes? Qlik Master Reseller's Simon Kirby will share how real-time data analytics and visualisation are used by finance teams across the globe today. In this hands-on workshop, you will learn from amazing examples the insights you can create with your data. Join this Finance Indaba Africa session to discover how you can bring your data to life with unmatched speed and scale.

"We launched our blockchain solution at the Finance Indaba last year and now we can build a cryptocurrency, this is the catalyst which will enable us to get it to the $1 investment, which we believe will help bridge the wealth gap," says Scott Picken, founder and CEO of Wealth Migrate, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

Before she knew a thing about investing or became the brand manager for EasyEquities, the only performance that concerned Carly Barnes was that which took place on a stage. Within a very short space of time, drawing on the knowledge of her peers and the EasyEquities community (or yousers as she calls them), her spotlight shifted onto the performance of markets, shares and her own capabilities as an investor. In this Finance Indaba Africa session, Carly shares how she grew to understand and create her own investment portfolio, and how a new age of EasyEquities investors inspired her with their stories and experiences - true testament to the idea that anyone can invest and claim a stake in their financial future.

In this thought-provoking Finance Indaba Africa session, Clive Butkow, CEO of Kalon Venture Partners, a section 12 J Venture Capital Company, will share his views on the growing FinTech sector and why it is reshaping the landscape for businesses and individuals alike. If you want a better sense of how FinTech is shaping your world and are just a little curious about how to create a better return on your hard-earned cash, be sure not to miss this session.

In a time when most businesses are using data and analytics to drive better decision-making, more than half the global leaders in a CEO survey said they didn't trust the data. While “data is the new oil/gold etc.”, more businesses are understanding that data quality and data governance are key to getting real, actionable insights. Is this your challenge? In this session, KPMG data and analytics leader Frank Rizzo shares his experience of how organisations are improving their data management processes and ensuring that complex algorithms are generating reliable insights around customer, workforce and supplier behaviour. If you want to optimise your data and analytics efforts in 2018, this Finance Indaba Africa session will provide ideas and solutions to consider in your business.

Financial service providers, from banks to broker dealers to investment advisors, face complex requirements of an expanding global regulatory landscape. Non-compliance with the rules can be extremely costly and damaging. But how can we address the regulatory requirements without losing operational efficiencies? Dominic Suszek, President and CEO of Global RADAR, has over 30 years of experience in the global financial industry. He will share his vision and experiences from a global perspective; from epic failures in compliance to the impact of technology. What is the state of compliance globally? How can we build efficient compliance processes? Dominic will show you how many financial institutions have successfully deployed a new breed of compliance tools. Join this Finance Indaba Africa session, hosted by DocFox, and discover the critical components of an effective and efficient compliance programme.

The South African Reserve Bank (SARB) has issued a licence to TymeDigital (by Commonwealth Bank SA) – the first SARB licence to be issued to a new bank since 1999. TymeDigital is part of Commonwealth Bank of Australia’s (CBA) international financial services division, following CBA’s 2015 acquisition of FinTech company Tyme (take your money everywhere).

Blacfox has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

"Hyphen will show Finance Executives how to balance payment streams with a single technology stack, whilst enhancing reconciliation and treasury reporting – ultimately translating into optimised cashflow and cashflow reporting for Finance and Treasury teams," says Gillian Stumke, Head: Business Development of Hyphen Technology, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

"VirtualIdentity is a convenient digital solution that allows a client to complete the tedious FICA process from the comfort of their home in under five minutes," says Ryan Barlow, Director of e4, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

DocFox is on a global mission to end money laundering and bring financial services to everyone. It has been an exciting journey for this company, from humble beginnings in a loft with three people, to building a global web application endorsed by Norton Rose Fulbright and funded and lead by the best minds in Silicon Valley. This presentation will share the incredible journey of this startup and explore the way in which it is ending money laundering, and delve into how it is partnering with clients locally and abroad to leverage the latest in technology to change how financial institutions operate. A discussion will also take place sharing the latest trends in FinTech and how institutions are leveraging technology globally to thrive.

"Mukuru is dismantling barriers for cross-border money transfers in Africa. We send more transactions out of South Africa than any other formal remittance company, yet we are still relatively unknown in the formal sector," says Andy Jury, CEO of Mukuru, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

What if you could implement the best financial systems and technology enhancements? What if you could drastically improve every step of the accounting process? In this Finance Indaba Africa master class, AdvanceNet Group will show you how it is done. Using practical examples, the smart tools that are available today will be discussed and demonstrated, and an explanation of how to easily implement the latest technology without having to manage a complex IT project will be given. Learn how to strengthen controls, lower compliance risks and introduce greater efficiencies and visibility. Don't miss out on hearing how your finance team can enjoy the benefits of the digital age.

Standard Bank has joined the US-based INV FinTech accelerator programme as a partner in order to open up the African FinTech market for programme participants startups.

UK FinTech Bridge, a comprehensive agreement covering government-to-government, regulator-to-regulator and industry-to-industry co-operation, has signed by Hong Kong and United Kingdom in London.

e4 has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Technology, Big Data and social networks are all having a massive impact on the workplace and how employees communicate, collaborate and go about their business. A new generation of workforces are more diverse than ever before and have ditched the traditional career model of remaining loyal to a single firm until the gold watch

Business automation and robotic process automation (RPA) is no longer an experiment and will move ahead at a rate of knots in the years to come. Those companies that do not come onboard with automation processes will find themselves on an uneven footing with their competitors and will be unable to attract and develop top talent. At the same time, finance departments and executives have struggled to get a handle on it. How much efficiency and performance can you derive from automation and what skills are needed to take the next step?

Payments provider Electrum, has been selected to participate in the Gartner Aspiring Innovators Programme, which aims to highlight innovative providers of enterprise technology to attendees of the Gartner Symposium/ITxpo Africa 2017, which is being held in Cape Town from 18 to 21 September 2017. The audience includes over 1 000 CIOs and senior IT executives from Africa and around the world who are actively looking for new partners and solutions.

"Embrace empowers Finance professionals to adapt to and meet the challenges of a rapidly changing business and systems environment, so as to remain relevant and competitive within their industry," says Ian Foster, Sales & Marketing Director of ACS-Embrace, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

African FinTechs are able to apply for the prestigious Switzerland-based F10 accelerator.

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has received 166 applications from over 39 countries for its inaugural FinTech Abu Dhabi Innovation Challenge.

"We are passionate about customers achieving real value from the use of Data Analytics and I believe the best way to support this is through sharing experiences and customer stories," says Simon Kirby, Director of Financial Services Industry Solutions at Qlik. South Africa Qlik Master Reseller is a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

Seamless East Africa – the region’s most extensive technology and solution event for the FinTech, payments and banking industries – opened its doors yesterday at the Radisson Blu Hotel, Nairobi.

From customer interface to back office support, automation has become an important issue that CFOs cannot afford to ignore. But will a failure to adopt automation mindset make your business extinct? Just how much efficiency and performance can you derive from automation and do you have the skills to take the next step?

Google has expanded its six-month, equity-free Launchpad Accelerator programme to seven more countries in Africa, after initially only opening it up to startups from Kenya, Nigeria and South Africa. The tech behemoth will now also accept applicants from Algeria, Egypt, Ghana, Morocco, Tanzania, Tunisia, and Uganda.

Pineapple (formerly know as Amyti), a Johannesburg-based InsurTech startup, has raised R5,2 million in seed funding.

The World Bank has selected 20 startups to participate in its XL Africa accelerator programme, which offers help in securing early stage funding, a tailored curriculum and mentoring from a range of experts. A number of investment groups support the programme, which will see participants engaging online before attending a two-week residency in Cape Town.

Financial services behemoth EY has announced the launch of Tesseract, an integrated mobility platform underpinned by blockchain technology. The platform facilitates fractional vehicle ownership, shared use and seamless multimodal transport and it will help lay the groundwork for how autonomous vehicle fleets can be owned in the future and provide access to a variety of on-demand mobility options.

"The Finance Indaba is a great opportunity to demonstrate that our product and services offering fits the needs of the all the South African businesses, no matter what their size is," says Paco Cervantes, Oracle Services Business Unit Manager of EOH, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

The Dubai Financial Services Authority (DFSA) and the Securities and Futures Commission (SFC) in Hong Kong have entered into an agreement to establish a framework of cooperation on FinTech innovation. The agreement will further strengthen the efforts of both authorities to develop an innovations-friendly ecosystem in their respective markets. The signing took place between Mr Ian Johnston, CEO of the DFSA, and Ashley Alder, SFC CEO, in Hong Kong. Under the agreement, both authorities will share information on developments and innovations in FinTech in their respective markets. The agreement also intends to encourage both regulators to refer innovative firms to one another’s markets and to provide them with regulatory guidance. Mr Johnston said: “Providing a regime that fosters innovation in the Dubai International Financial Centre (DIFC), is a strategic priority for us. This agreement with Hong Kong’s SFC deepens cooperation between our two markets and will build a common understanding of the principles of good innovation.” “This agreement underscores the SFC’s efforts to strengthen regulatory collaboration and promote innovation in financial services," said Mr Alder. “We look forward to working closely with the DFSA to support FinTech development in both our markets.” The agreement extends the existing relationship between the SFC and the DFSA with a joint commitment to maintain the highest standards of cooperation. Both regulators are signatories to the IOSCO Multi-lateral Memorandum of Understanding (MMoU). They also entered into a bi-lateral MoU in 2008. The agreement marks the latest step in the DFSA’s roadmap to build a framework that supports innovation in the DIFC. It follows the introduction of regulations formalising a tailored regime for loan and investment crowdfunding platforms on August 1, the first in the GCC. On May 24, the DFSA launched its Innovation Testing Licence (ITL), a special class of financial services licence that allows FinTech firms to develop and test innovative FinTech concepts from the DIFC. The DFSA's innovation strategy is aligned with the National Innovation Strategy set out by UAE Vice President Sheikh Mohammed Bin Rashid Al Maktoum, to make the UAE a global hub for innovation. It follows the launch of the FinTech Hive at DIFC, which will bring together the next generation of leaders and entrepreneurs to compete and address the growing needs of the region's financial services industry, using innovative technology solutions. It intends to catalyse growth and efficiency in a variety of areas including trade finance, alternative finance and Shari'ah-based services. For its part, the SFC established the FinTech Contact Point (FTCP) in March 2016 to enhance communication with businesses involved in the development and application of FinTech and regulatory technology in Hong Kong. The FTCP also facilitates an understanding of the SFC’s current regulatory regime while enabling it to stay informed of the development of the local industry.

“There’s never been a more wonderful time to be a banker,” says Funeka Montjane, CEO of Personal and Business Banking at Standard Bank. Montjane, a 2015 WEF Young Global Leader, believes that the future of banking lies in creating time for customers with the help of automation, artificial intelligence and FinTech. Speaking about the future of banking at the Singularity University South Africa Summit, hosted on the continent for the first time in collaboration with Standard Bank, Montjane said that we’re living in what Stephen Hawking called ‘the century of complexity’ – in a more compressed and globalised world characterised by rapid disruption, and where information is free.

UK FinTech Prodigy Finance has raised $240 million via a funding round. A borderless FinTech platform that provides finance to international students from emerging markets to study at top business schools in the UK, US and Europe, Prodigy is responsible for the world's world's first globally enforceable credit model.

South African Reserve Bank deputy governor Francois Groepe has revealed that there are three proposals regarding FinTech regulation currently on the table during a keynote address at the Strate GIBS FinTech Innovation Conference.

The International Monetary Fund's (IMF) recent warning that South Africa's economic vulnerabilities could become more pronounced wasn't good news. Indeed, when the assessment was made in July 2017, it cast a shadow of what's already a turbulent time for the country.

“Technology, shared resources and digital collaboration provide businesses with a global view of business,” says Christopher Jones, CEO of Digiterra, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

The University of Cape Town, one of the leading educational institutions on the continent, has become the first university in Africa to offer a specialised FinTech degree. It follows the University of Oxford and a host of Ivy League institutions in offering such a programme.

The Nigerian FinTech market has grown by 90% in the past 3-4 years and startups in the populous West African nation are radically transforming the banking and financial sectors, according to Kantar TNS Nigeria CEO Aggrey Maposa.

"We will be talking about how to build your future with the Blueprint for Continuous Accounting. This revolutionary new concept is changing the way accounting and finance are performing and creating a paradigm shift across Modern Finance Organisations," says Bridgette Ward, Sales Manager of AdvanceNet, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

JSE-listed financial services provider Purple Group has sold a 30% stake valued at R100 million in its Easy Equities business to Sanlam Investment Holdings in a cash deal. Sanlam will receive a seat on the board as part of the investment.

"Decision Inc was created with the vision of offering these organisations a single purpose information management business to allow them to make better decisions across multiple divisions and sectors," says Nick Bell, CEO of Decision Inc, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

During the last year, the public became painfully aware of what cybersecurity experts have long been warning us about: That cybercrime is on the rise and that everyone is a potential target. The recent WannaCry and Petya attacks have revealed that hackers have adopted an increasingly financial focus, as they demand ransom (usually in cryptocurrencies like Bitcoin) in exchange for unlocking the affected users’ data. Companies throughout the globe have been affected in the latest attack this June, with South African companies being no exception.

Abu Dhabi is looking to strengthen its FinTech position with a flurry of initiatives, including a tie-up with Switzerland and an innovation challenge for startups.

Westcon-Comstor Southern Africa has announced that it has appointed Rakesh Parbhoo as the new CEO of WestconGroup SA. Parbhoo joins the company after an almost two-decades-long tenure at Dimension Data, most recently holding the role of chief information officer for Dimension Data Middle East & Africa.

Bidvest’s recent acquisition of First Data Resources South Africa (FDRSA) will catapult it into South Africa’s world of business banking – a market currently dominated by FNB, Nedbank and Standard Bank.

Mukuru has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Barclays Africa Group will collaborate with nine FinTech companies to explore promising new technology-based solutions that could prompt significant improvements for consumers and in bank services.

Martijn Aslander is a thought leader, public speaker and executive sparring partner with a unique ability to challenge business leaders and help them to think outside of the box.

Oxford University, one of the world’s most prestigious educational institutions, has launched an online programme to meet the growing demand for a formal FinTech course.

"We believe that the user is the true source of value in any business, and if you service them well you can grow them and they in turn will grow your business," says Kevin Mutiso, CEO and co-founder of Alternative Circle, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg. Finance professionals and accountants register for the Finance Indaba for free with code FB2017! In the coming weeks and months, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is. Do you want to hear how Alternative Circle can help with your KYC processes? Do you want to be informed about the latest and greatest in finance? Then don't miss the Finance Indaba Africa 2017. The Finance Indaba is the biggest annual event on the continent for financial managers and specialists who are seeking partnerships to drive progress. Thousands of delegates will gain valuable insights into realising financial performance and growth, becoming more efficient and accessing funding, among a host of other opportunities from leading players in financial services.

ThisIsMe has joined Finance Indaba 2017 as a silver partner and will make its second showing at the event at the Sandton Convention Centre in October.

Nigerian FinTech Flutterwave announced it has secured $10 million in Series B financing. Four investors contributed to the round: Greycroft Partners, Green Visor Capital, Y Combinator, and Glynn Capital Management. Flutterwave, founded by Iyinoluwa Aboyeji, provides technology, infrastructure, and services to enable global merchants, payment service providers, and pan-African banks to accept and process payments via any channel, including web, mobile, ATMs and POS. The company helps businesses in Africa go global by smoothening the exchange of funds in more than 150 currencies. The company revealed that it intends to use the funds to hire talent, build out its global operations, and accelerate its expansion across Africa.

A large merger between EOH Industrial Technologies and certain business of Powertech System Integrators has been approved by the Competition Tribunal, without conditions.

FinTech start-ups are set to break funding records in 2017, as record as insurance, wealth management, lending and blockchain-related companies attract unprecedented investment.

Alternative Circle has joined Finance Indaba 2017 as a silver partner and will make its second showing at the event at the Sandton Convention Centre in October.

Convergence Partners Investments announced this week that it has exited its investment in Dimension Data, a specialist IT services and solutions company.

Qlik Master Reseller has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Total and Worldline have signed binding technological, commercial and financing agreements with African FinTech InTouch.

Decision Inc. has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Global payments technology company Visa has partnered with Kenyan online payment gateway JamboPay to enable its merchants to facilitate mVisa Payments.

ACS-Embrace has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

South African FinTech company Curve Technology Group has expanded to the UK with the opening of a new office in London.

ZAR X has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

Technology is moving at breakneck pace, with a significant impact on business and the world around us. It is imperative that CFOs have understanding of these rapid change in order to mitigate the risks and maximise the rewards. Here are five tips that can make this process easier, according to CGMA.

"DocFox provides a single solution - endorsed by global law firm, Norton Rose Fulbright - which gives a FSP of any size the assurance that they will remain compliant with ever-changing legislation, while simultaneously creating a seamless customer experience and reducing operational costs," says Ryan Canin, CEO of DocFox, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

FinLeap, the startup platform behind Germany's solarisBank, has secured €39 million in equity capital to support its ongoing FinTech incubation programme. Next to the founding shareholder Berlin-based HitFox-Group, new institutional investors include the German insurer Signal Iduna, Japan's SBI Group and Dutch bank NIBC. Hannover Re, the third largest worldwide reinsurer, also raised its stake having participated in the platform's last €21 million raise.

Karabina has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

The new FinTech 2017: China, Asia and Beyond Report, released by CFA argues that, while FinTech companies were usually strong at technology and applications, they are mostly inexperienced in financial sector operations and therefore unlikely to completely replace the more conventional sectors of the financial services industry.

The rise of the FinTech industry may herald a significant upheaval to the financial services industry, and significant opportunities (and risks) await those who wish to participate.

South African FinTech ThisIsMe has set a new African record for the Financial Intelligence Centre Amendment (Fica) process. The process used to take as long as two weeks, but can now be completed in as little as three minutes.

EOH has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

In the space of just a few years, Till Streichert, CFO of Vodacom Group and this year's CFO of the Year, turned Vodacom’s finance team into a flourishing intelligence unit. He is a textbook example of a finance executive who used the first 100 days of his tenure to make a swift and decisive impact on his organisation.

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, and Alipay announced that they are launching Alipay in South Africa, via leading regional payment service provider (PSP) Peach Payments.

Koncart, a platform that empowers developers and techpreneurs to build their financially driven tech idea with ease, has recently been launched into the African FinTech sector. The platform enables startups to quickly create and manage virtual wallets and transactions with an in depth analysis to your data by leveraging on Koncart’s analytics dashboard.

“First and foremost, we have one focus: delivering value with a long-term objective of providing the best service in our industry," says Christo Jacobs, director at Intellection, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

Consumer uptake of innovative FinTech products is set to be embraced by the mainstream as adoption levels surge among digitally-savvy consumers, according to a study by EY. The research, based on 22 000 online interviews with digitally active consumers across 20 markets, shows that the emerging markets are driving much of this adoption with China, India, South Africa, Brazil and Mexico averaging a 46% participation rate.

South African tech and media giant Naspers on Friday recorded positive results for the year to March 2017, increasing revenue by 19% year on year to $14.6 billion. Core headline earnings at Naspers rose 41% to $1,8 billion for the year. Positive results from Chinese behemoth Tencent took the edge of its stuttering pay-TV and other e-commerce ventures, with businesses outside SA contributed 80% of revenues, compared to 77% a year ago.

TechPreneur Africa, which aims to support FinTech firms and entrepreneurs that want to increase financial inclusion and opportunities for growth across Africa, has signed a memorandum of agreement with international financial hub Abu Dhabi Global Market (ADGM).

Six European cities attract 70% of all investments in European private FinTech companies.

Durban-based investment firm Multiply Group has acquired 35% of newly formed Crossfin Technology Holdings, part of the Capital Eye Investments’ portfolio, which owns stakes in several companies in the FinTech space.

South African FinTech Entersekt has received a multi-million-dollar cash boost to fund its global expansion.

DocFox has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

London remains the powerhouse of global FinTech, despite concerns over Brexit and the upcoming UK elections. Some 31 London-based FinTech firms are featured in the annual Fintech50 report, which lists the best startups in the space as decided by industry leaders including Microsoft and Samsung. The number has increased from 29 in 2016 and the list includes seven more London-based startups than it did in 2015.

Naspers, a global internet and entertainment group and one of the largest technology investors in the world, today announced that it led an $80 million Series E investment in India-based Swiggy, an online food ordering and delivery platform in India. Ashutosh Sharma, head of investments in India for Naspers, will join the Swiggy board. The investment will help to bolster Swiggy’s growth plans and demonstrates Naspers commitment to help Swiggy become the undisputed leader in food ordering and delivery across India.

Did someone cancel the FinTech revolution or has it just been delayed? That's the question posed by a new report on the UK scene, which argues that new entrants have failed to lure customers from incumbents and that VC money has started to dry up. Over the last few years, the FinTech hype machine has been in overdrive, with a digital revolution promising to change market structure, radically improve products and services, and save the high street veterans from sliding into invisible utilities.

South African FinTech company, Entersekt has won the Judges' Choice: Best Technology Provider at the fourth Banker Africa East Africa Awards held recently at a gala dinner in Nairobi. In April, the firm won the award for Best Mobile Security Technology in the 2017 Banker Africa Southern Africa Banking Awards for the second year in a row.

South African media and e-commerce giant Naspers has continued its expansion into the FinTech and cryptocurrency space by putting $5 million behind Philippines-based startup Coins.ph. The investment was facilitated by Naspers’ Ventures division.

Wayne Koonin, CFO of Omnia, led a strategy to implement a new, company-wide ERP system and IT platform as a basis for taking the business to a new level. For this, Wayne won the Finance & Technology Award at the recent CFO Awards, held on 11 May at Summer Place in Johannesburg.

FinTech unicorn Transferwise says the company has reached operational profitability six years after launch. The London-based currency exchange startup says it is currently amassing £8 million a month in revenue and is on target to reach £100 million for the year.

JSE-listed speciality finance company Capital Appreciation has acquired FinTech firm Synthesis for R132,1 million.