Fintech, Open Source, and Emerging Markets

Digital Banking for Everyone

Fintech, Open Source, and Emerging Markets

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Technological innovation is disrupting many venerable institutions but nowhere is the impact more striking than digital and mobile technology in financial services. This report examines the multifaceted role of FinTech in emerging economies, where billions of people live at the lower tier of the economic pyramid—especially in Africa. You’ll discover why countries such as Kenya and Tanzania offer incredible market opportunities for FinTech investors, startups, and developers right now.

In emerging economies, where 80% of adults are unbanked and lack access to formal banking services, FinTech enables financial inclusion and creates a world of social good through financial education and entrepreneurial activity. While cash still reigns supreme as an exchange medium, mobile devices are ubiquitous. Digital services such as M-Pesa enable users to send and store money, run businesses from their phones, and connect to expanded horizons.

This report reveals why:

  • The explosive growth of FinTech and mobile platforms, coupled with receptive populations, makes emerging markets a hot opportunity
  • M-Pesa is currently the world’s most widely used mobile-money transfer and financial network
  • FinTech has a socially transformative impact on previously unbanked adults in Africa—especially women
  • The use of APIs by banks, in partnership with fintech firms and telecoms, will change the industry model
  • Mobile data is the silent engine driving financial inclusion and will spark innovation and new use cases to reshape the financial industry

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Cornelia Lévy-Bencheton

Cornelia Lévy-Bencheton

Cornelia Lévy-Bencheton is a communications strategy consultant and writer. Her prior work client-side in decision support, marketing and research informs her current consulting practice to help companies optimize business performance. As a data warrior, her conclusions are evidence-based. She brings data to life with insights, leveraging graphics and visualizations.

Ms. Lévy-Bencheton has held senior marketing and strategy positions in well-known financial services firms, is currently on the Board of The Data Warehouse Institute, Tri-State Chapter, (TDWI) and the Board of the Financial Women's Association (FWA). She earned her MA from Stanford University, MBA from Pace University and holds several advanced certificates from New York University.

Cornelia works with firms where the impact of disruptive technologies and associated cultural challenges open up new opportunities and necessitate refreshed strategies. She concentrates on social media, analytics, big data, business intelligence, performance management and collaborative networking.