The regulation of Buy Now, Pay Later (BNPL) products under the Business Laws (Amendment) Act, 2024, passed by Kenya’s National Assembly, marks a significant step forward in ensuring consumer protection and fostering sustainable growth in the BNPL sector. This legislative move recognizes the need to safeguard consumers while supporting the expansion and sustainability of BNPL services in the country. BNPL
Skipton Building Society has formed a partnership with the award-winning insurtech provider, Uinsure, a collaboration poised to offer more accessible, affordable, and straightforward home insurance solutions to its members. Being one of the leading financial institutions, Skipton’s decision to align with Uinsure showcases a strategic move to enhance the insurance experience through advanced technology. Uinsure is known for generating 5
The landscape of wealth management is on the brink of significant transformation as Baby Boomers are set to transfer an estimated $84 trillion to their Gen X and Millennial heirs over the coming decades. This shift brings with it a myriad of challenges and opportunities for the financial services industry. OneVest, a comprehensive wealth management technology platform, is positioning itself
In an unprecedented move set to reshape the e-commerce landscape in the Middle East and North Africa (MENA) region, Paymob, a foremost financial services provider, has announced a strategic partnership with Woo, an open-source e-commerce platform. This collaboration marks Paymob as Woo’s first preferred partner in MENA, aiming to bring significant advancements to the regional e-commerce market. As a result,
In today’s digital age, the financial services sector faces an unprecedented level of cyber threats. The increasing sophistication of cyber-attacks means that traditional cybersecurity measures are no longer sufficient to safeguard sensitive financial data. This article explores the critical role of organizational culture in fortifying financial cybersecurity, emphasizing the need for a holistic approach that involves leadership, employee engagement, and
The banking industry is at a pivotal juncture, where the need for innovation and efficiency is more pressing than ever. Cloud technology offers a transformative potential that can revolutionize banking operations, yet the journey toward full cloud adoption is fraught with challenges. Legacy systems, organizational inertia, and regulatory compliance are significant barriers that banks must navigate to fully embrace the
The introduction of the digital euro, expected around 2028, is set to revolutionize the banking sector. As banks prepare for this significant shift, proactive planning and strategic foresight are essential. This article explores how banks can navigate the impending digital transformation, focusing on four key hypotheses that will guide their preparatory efforts. The Need for a Holistic Payments Strategy Evolving
In an ambitious move set to reshape the digital payments landscape, Elon Musk’s X has announced the launch of its new financial service, “X Money Account,” in partnership with Visa. This fresh initiative involves the introduction of a digital wallet, dubbed X Wallet, that promises to deliver secure and instantaneous funding via the Visa Direct global payments network. By allowing
Arab Financial Services (AFS), a leading provider of digital payment solutions in the Middle East and Africa, has made a significant move by expanding into the UAE. This expansion comes at a crucial time when digital payment solutions are becoming increasingly important in fostering economic growth and financial inclusion. The Central Bank of UAE has granted AFS a Retail Payment
In a significant move aimed at improving the user experience of its banking app, Banco Sabadell has announced a partnership with Snowdrop Solutions to introduce real-time card payment geolocation services. This integration uses Snowdrop’s MRS API™ technology, allowing customers to pinpoint the precise locations of their card transactions on a map, complete with the merchant’s name and logo. By offering
The evolving landscape of cybersecurity presents new challenges every day, with sophisticated threats like the Codefinger ransomware targeting critical infrastructure. This article delves into the intricacies of Codefinger ransomware, its impact on various industries, and how AI-driven solutions like MixMode can offer robust defenses against such advanced cyber threats. As cybercriminals continually adapt their tactics, it becomes imperative for security
The financial services industry is undergoing a significant transformation, driven by the integration of artificial intelligence (AI) into various operational processes. One of the most impactful areas is contract management. Contracts are the backbone of financial operations, encompassing everything from loan agreements to insurance policies. Traditional methods of handling these contracts are often labor-intensive, error-prone, and time-consuming. AI-powered contract management
