Fincra, a payment solution company you can trust

Fincra, a payment solution company you can trust

Today, many companies giving businesses across the continent access to financial services exist, but no company embodies this mission more than Fincra.

In the last two decades, Africa has seen an increase in solutions from financial technology that have driven growth in the economy and deepened financial inclusion. Hugely aided by the rapid adoption of mobile phones and internet penetration, financial technology has enhanced the whole ecosystem with reduced costs for traditional banks and given Africans more access to financial services. This is the reason fintech has enjoyed massive successes in Africa.

Read More : https://blog.fincra.com/

Fintech companies have used these opportunities to roll out products in different spaces; neobanks, blockchain and cryptocurrency, stock trading, wealth management, lending, crowdfunding and payments.

Payments

Among the many fintech companies in Africa, a slew of them has focused on solving problems in payment- remittances and businesses (Customer to Business (C2B) and Business to Business (B2B) payments). For businesses, it was essential to give them access to financial services. With about 70% of the over 100 million businesses in Africa, there were considerable benefits in granting them access to financial services. These businesses contribute a large percentage of employment and Gross Domestic Product (GDP), making them critical for the continent's socio-economic growth. https://blog.fincra.com/b2b-payment-systems-and-solutions/

But without payment solutions for these businesses, they were unable to grow and innovate to properly contribute positively to employment and economic growth in their countries. So fintech companies had to go to work.https://blog.fincra.com/send-money-to-ghana/

Today, many companies giving businesses across the continent access to financial services exist, but no company embodies this mission more than Fincra.

Fincra

Fincra is a global fintech company that builds and provides payments infrastructure for businesses across Africa and different industries-fintechs, platforms, e-commerce, hospitality etc. Fincra is a payment solution company that helps businesses to receive payments securely and make payouts globally. Money is the heart of any business, so easy and quick access to value allows them to scale. We have businesses at heart because of their challenges with cross-border payments and receiving payments from customers.https://blog.fincra.com/fincra-ceo-wole-ayodele-interview/

https://blog.fincra.com/payment-solution-company-fincra/

4 types of partnerships between fintechs and banks

These days, fintechs are more friends than foes to banks with several collaborations between the two spheres of the financial industry. Amidst the fintech boom in Africa, there have always been talks of banks being under threat from the insanely fluid, quick and innovative fintech startups. Those early conversations depicted fintechs as disruptors and threats, but the tone has since changed.

These days, fintechs are more friends than foes to banks with several collaborations between the two spheres of the financial industry. As the relationships have evolved, fintechs and banks are leveraging on their strong points to collaborate.

In April, one of Africa's traditional banks, Ecobank, held a Fintech Breakfast Series in Lagos and had industry enthusiasts take turns to speak on the need for collaboration and partnerships between banks and fintechs.

One of the speakers in the series was Tomilola Adejana, CEO of Bankly, a fintech startup that digitises cash for the unbanked. She spoke about how the company collaborated with banks to scale in her session.

She mentioned two types of partnerships that Bankly had with banks and two others she expects to see in the future.

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