What is Fintech?
Fintech, a portmanteau of “financial technology”, refers to firms using new technology to compete with traditional financial methods in the delivery of financial services.
Artificial intelligence, blockchain, cloud computing, and big data are regarded as the “ABCD” of fintech.
Top Fintech Companies In South Africa
Jumo
Jumo is an online marketplace for consumer & business loans and mobile-based banking channels. It offers lending products that enable entrepreneurs to avail loans & asset finance.
The loan amount, life cycle, and repayment method can be configured based on the individual’s requirements.
It offers an AI-powered technology stack that connects banks with traditionally inaccessible customers and enables banks to deploy loans, savings, and insurance services.
Yoco
Payment processing solutions for businesses and merchants. Its product includes NFC-enabled and hardware-based card machines, payment gateways, link-based payments, and more.
It provides Yoco App, an app-based platform for managing sales and tracking performance. The application is made available on iOS and Android devices.
VALR
An app-based platform for cryptocurrency trading. It uses AI and machine learning technology to validate the identity of the trader. It allows users to securely buy, store and sell cryptocurrencies.
What is the largest fintech company in South Africa?
Jumo
Jumo is the biggest fintech that provides banking services to South Africa’s population that doesn’t use banks through the Jumo digital app. Since its founding, Jumo has expanded beyond the South African market and has spread out to other countries like Kenya.
How many fintech companies are in South Africa?
93 South Africa-Based Fintech Companies | The Most Innovative Fintech Companies.
How many fintech startups are there in South Africa?
The number of fintech unicorns reached 235, with 34 rising in Q4 2021.