In an online survey of 225 mid-market finance and accounting leaders, conducted in September 2025, only 4% of respondents admitted to fully automating AP from invoice to payment with no manual touchpoints. The respondents reported annual revenue between USD 20 million and USD 499 million.

The survey, titled “The State of AP Maturity 2026: Closing the Gaps Between Partial and Unified Automation,” included respondents across healthcare, retail and hospitality sectors. About 48% of them reported witnessing “little to no cost savings” from their AP automation tools.

Ottimate attributed the issue to the prevalence of “partial automation,” where humans and machines collaborate on tasks. While 89% of respondents use partial automation in the AP function, 7% reported completely depending upon human interventions to complete tasks.

“Partial automation may seem like a step in the right direction. But it actually sets the stage for some of the key challenges finance teams face every day,” Ottimate noted.

While half of the survey respondents filed more than 5,000 invoices monthly, 38% currently take five or more days to process a single invoice.

“While that timeline may not seem particularly problematic, it quickly becomes unmanageable when multiplied across thousands of invoices,” Ottimate’s report observed, noting that this trend occurs amid the growing prevalence of AI-powered frauds. The survey also found four in 10 respondents experienced either invoice fraud or overpayment in 2025.

The study found that when fighting fraud for midsize firms, manual invoice reviews before payment remain the preferred financial control. Some 52% of the respondents cited this method as their most favourite financial control tool, and another 50% said they require two or more approvers before releasing a payment.

The post AP automation: Survey depicts poor picture for mid-market firms appeared first on International Finance.

In 2024, Meta Platforms reported revenue of $164.50 billion. As of September 30, 2025, the social media giant’s revenue was approximately $189.46 billion. It’s a titan of industry that shareholders love, and that loves its shareholders. But the excessive love of shareholders is the root of all corporate sin.

Despite its skyrocketing revenue and incredible technological prowess, Meta doesn’t think it should regulate its market or protect its customers from fraud and harm. The digital advertising ecosystem, once heralded as a democratisation of commercial reach, has metastasised into a complex marketplace where the distinctions between legitimate commerce and predatory fraud are increasingly obscured by algorithmic opacity.

Internal projections for the fiscal year 2024 indicate that advertisements promoting scams, illegal goods, and prohibited content generated approximately $16 billion, representing roughly 10% of the company’s total annual revenue. This revenue is safeguarded by a penalty bid pricing mechanism that monetises high-risk advertisers rather than removing them, a policy framework that sets enforcement thresholds at a staggering 95% certainty level and a corporate governance structure that explicitly caps revenue losses from safety enforcement at a fraction of the profits generated by the fraud.

So, what does this mean? Meta will even let bad actors sell horse dung or magic remedies if they are willing to pay a premium for their risky endeavour. While the company has long faced scrutiny regarding data privacy and political influence, investigations surfacing in late 2024 and throughout 2025 have illuminated a far more tangible structural crisis: the institutionalisation of revenue derived from fraudulent advertising.

What’s really happening?

In November 2025, a Reuters investigation, corroborated by a cache of internal documents spanning 2021 to 2025, revealed a stark internal projection. Meta anticipated $16 billion in revenue for 2024, specifically from ads for scams and banned goods. To contextualise this figure, $16 billion exceeds the annual revenue of major global entities such as Spotify or eBay (Fortune 500 companies). It is a sum that materially impacts the company’s earnings per share and, consequently, its stock valuation.

This revenue stream is categorised internally under various euphemisms, including “violating revenue” or segments associated with higher legal risk. The existence of such specific forecasting line items indicates that this revenue is not accidental. Financial modelling that explicitly accounts for illicit revenue suggests a fiduciary dependency; removing this revenue stream would require a voluntary correction of the company’s top line by nearly 10%, a move that would likely trigger a shareholder revolt in an environment where growth in legitimate user acquisition has plateaued.

To put things into context, Meta shows 15 billion scam ads a day. A lesser entity would be penalised and shut down in most countries, but the mighty titan of the digital industry has thus far been immune to its amoral position on the safety of its consumers. Upper management at Meta does not care if an online casino, a pump-and-dump investment scheme, fake websites, or purveyors of illegal drugs flood their platform with misleading ads, as long as their pockets are full.

After the Reuters investigation and some high-profile cases against it globally, most notably the Calise vs Meta lawsuit and the Brazil AGU lawsuit, the company is trying its best at crisis management.

Calise vs Meta is a class-action lawsuit in the Ninth Circuit pursuing claims of unjust enrichment, arguing that Meta actively solicited and profited from third-party fraud and thus should disgorge the revenue. The Brazilian Attorney General’s Office has also filed suit to recover revenue from 1,770 specific fraudulent ads that used government symbols to scam citizens, demanding that the funds be deposited into a rights defence fund. Something similar is happening in the United Kingdom as well. Regulators in the European country found that Meta platforms were involved in 54% of all authorised push payment scams (where users are tricked into sending money).

The Instagram parent company says only 10% of its revenue came from scams in 2024 and aims to cut it to 7.3% in 2025 and 5.8% by 2027. The claim seems absurd. They have the tools to stop it now, but choose to roll it out slowly to protect their profits and please shareholders.

Of the $16 billion ad revenue they received from bad actors, $7 billion was from higher-risk parties (possibly extremely dubious or problematic). It is ironic because Meta’s own system files it as such. The most critical insight from the internal disclosures is the calculated decision to tolerate this revenue stream based on a comparison with potential regulatory penalties.

The documents suggest a stark cost-benefit analysis. While the revenue from scam ads is estimated at nearly $7 billion annually, the company’s internal risk models projected that regulatory fines for these violations would likely cap at around $1 billion. Instead of punishing or deplatforming, they merely charge a higher fee from these individuals and organisations.

It’s important to keep in mind that Meta is partly responsible for one-third of all successful scams in the US today. Worldwide, the total cost of ad fraud was estimated at $81 billion in 2022 and was expected to surpass $100 billion in 2023, showing that current measures aren’t keeping up with increasingly sophisticated scams.

Furthermore, internal memos revealed the existence of revenue guardrails for safety teams. In one specific instance, a fraud prevention initiative was restricted to actions that would not reduce total ad revenue by more than 0.15% (approximately $135 million).

This explicit capping of safety measures based on revenue impact demonstrates that the risk premium is a protected income stream, insulated from the full force of the company’s own trust and safety capabilities.

Who is profiting and how?

The digital advertising ecosystem, once heralded as a precision instrument for commercial democratisation, has metamorphosed into a complex adversarial theatre where the economic interests of platforms and the operational methodologies of fraudsters have become dangerously aligned. These systems prioritise engagement metrics such as Click-Through Rate and Estimated Action Rate (EAR) over content veracity, creating a fertile substrate where fraudulent actors do not merely survive but thrive.

At the core of the ad delivery engine lies the auction formula, a mathematical arbiter that decides which advertisement is shown to a user at any given millisecond. You don’t win the bid with money on platforms like Google, Facebook, or Instagram; you win it with a combination of ad quality and EAR.

When a fraudster runs a campaign promising “Guaranteed 500% Returns in 24 Hours” or “Miracle Weight Loss Without Dieting,” users interact with these ads at high rates. The algorithm, blind to the veracity of the claim and optimising strictly for the probability of action, registers this high interaction as a signal of quality and relevance. Consequently, the auction mechanism rewards the fraudster with a higher EAR, which inversely lowers their Cost Per Mille or Cost Per Click.

In effect, the platform’s efficiency algorithms subsidise the distribution of scam content, allowing fraudsters to reach vast audiences at a fraction of the cost paid by legitimate brands.

The digital ad fraud ecosystem has matured into a sophisticated business-to-business economy. While the end-point scammers running fake crypto exchanges or counterfeit e-commerce stores bear the operational risk, a vast shadow supply chain of service providers extracts guaranteed profits at every stage of the fraudulent lifecycle. These entities operate with the efficiency of legitimate SaaS (Software-as-a-Service) companies, often earning monthly recurring revenue (MRR) regardless of whether the scammer’s campaign succeeds or fails.

The primary beneficiaries are vendors of evasion technology. Cloaking services, which filter traffic to hide malicious landing pages from platform moderators, have evolved into subscription-based platforms. Services like “TrafficArmor” and “Cloaking House” operate openly, charging tiered monthly fees ranging from $30 to $600, or utilising pay-per-click models where scammers pay premium rates (e.g., $129 for 32,500 clicks) to ensure their ads survive automated review. These companies profit by effectively selling invisibility, creating a technological tollbooth that every high-end fraudster must pay to access the audience.

Supporting this is the Bulletproof Hosting industry. Unlike legitimate hosts that comply with takedown requests, providers like Strox or SpeedHost247 charge premiums (e.g., $85/month or $3/day) to host malicious landing pages on servers explicitly designed to ignore abuse reports and law enforcement inquiries. By commoditising resilience, they ensure that even when a scam is detected, the infrastructure remains operational long enough to be profitable.

Fraud requires a constant supply of fresh identities to bypass platform bans. This has enriched Dark Web marketplaces and account brokers, who act as wholesalers of digital reputation. The most lucrative commodities are Verified Business Managers who hack or farm Facebook/Meta ad accounts with high spending limits and histories of legitimate activity. A verified BM can fetch $120 to $250, while aged accounts (which look less suspicious to algorithms) sell for $45–$50.

This sector also profits from the Stolen Credit model. Brokers sell stolen credit card details for as little as $10–$40, which fraudsters then link to compromised agency accounts. This arbitrage allows scammers to run thousands of dollars in ads using other people’s money, while the identity brokers secure risk-free profit from the initial data sale.

Perhaps the most significant evolution is the shift to Scam-as-a-Service (ScaaS). Technical syndicates now build and lease entire fraud kits (pre-coded phishing sites, crypto drainer scripts, and back-end management panels) to lower-level criminals.

“Instead of charging a flat fee, these developers often take a commission. For instance, the Inferno Drainer malware operated on a 20% commission model, syphoning off a fifth of all stolen funds from its affiliates, generating over $87 million in illicit profit before ceasing operations. This franchise model allows technical groups to scale their revenue infinitely without ever directly engaging with a victim,” said Reuters journalist Jeff Horwitz, who has been covering the alleged ad-related irregularities involving Meta.

Finally, the demand for human engagement signals has created a labour economy in Southeast Asia (e.g., Vietnam, Myanmar) and parts of Eastern Europe. “Click Farms” or “Fraud Farms” employ low-wage workers to manually interact with ads, solve CAPTCHAs, and warm up accounts.

“These operations charge roughly $1 per 1,000 clicks/likes, creating a volume-based revenue stream that exploits global wage disparities to defeat advanced behavioural biometrics. By providing the human touch that algorithms crave, these farms monetise the very mechanism designed to stop them,” Horwitz said.

And it doesn’t stop there. The data collected at these farms is often resold. If you’ve been the victim of a cybercrime, there’s a 34% chance it will happen again if you’re an individual, and an 84% chance if you’re a business. Once scammed, you can end up on what’s called a ‘suckers list,’ marking you as an easy target. These lists are valuable, and people are willing to pay a lot to get them.

How is the world reacting to it?

The world is reacting to the industrialisation of ad fraud with a shift from “user beware” to platform liability. In 2024 and 2025, governments and industries moved to dismantle the economic impunity of platforms, forcing them to bear the costs of the fraud they facilitate.

The most significant development is the regulatory move to force reimbursement. For example, the UK Payment Systems Regulator implemented in 2024 a mandatory reimbursement requirement for Authorised Push Payment (APP) fraud. Crucially, the liability is now split 50:50 between the sending bank and the receiving payment service provider.

While this primarily targets banks, it has created immense pressure from the financial sector on tech platforms. Banks, now on the hook for millions in refunds, are aggressively lobbying for a “polluter pays” model, arguing that since 60–80% of scams originate on Meta’s platforms, the tech giants should contribute to the reimbursement pot.

Effective December 2024, Singapore’s framework assigns specific duties to financial institutions and telcos to mitigate phishing scams. If banks fail to send real-time transaction alerts or impose cooling-off periods, they are liable for losses. This creates a regulatory precedent where infrastructure providers are held financially accountable for gatekeeping failures. Governments are moving beyond voluntary codes of conduct to enforceable legislation with massive financial penalties.

The “UK Online Safety Act,” fully enforceable in 2025, requires platforms to proactively prevent fraudulent advertising. Non-compliance can result in fines of up to £18 million or 10% of global annual turnover (potentially billions for Meta).

In Europe, something similar is happening with the “Digital Services Act.” The European Commission has opened investigations into “Very Large Online Platforms” regarding their risk mitigation for fraudulent ads. The DSA empowers the European Union to fine companies up to 6% of their global turnover if they fail to manage systemic risks, including the spread of financial scams.

In Australia, the “Scams Prevention Framework,” which was passed in early 2025, introduces mandatory codes for banks, telcos, and digital platforms. It includes fines of up to AUD 50 million for non-compliance, specifically targeting the failure to detect and remove scam content.

There is also other litigation from celebrities. For example, Andrew Forrest vs Meta is an ongoing case where Australian billionaire Andrew Forrest pursued Meta in both Australian and US courts over the proliferation of crypto scams using his likeness. While the Australian criminal case was dropped due to evidential hurdles, the US civil lawsuit survived a motion to dismiss in 2024.

This case is pivotal as it challenges Section 230 immunity often claimed by platforms, arguing that Meta’s ad tools contributed to the content creation, thereby stripping them of neutral publisher status.

Even the Australian Competition and Consumer Commission sued Meta for aiding and abetting false conduct by publishing scam ads featuring public figures, arguing that Meta’s algorithms actively targeted these scams to susceptible users.

Meta has, under immense pressure, reversed its 2021 decision to abandon facial recognition. In late 2024, the company began testing facial recognition technology to combat “celeb-bait” scams. The system compares faces in suspected ads against the profile pictures of public figures.

If a match is found and the ad is a scam, it is blocked. This marks a significant concession, as it acknowledges that privacy concerns regarding biometrics are outweighed by the need to stop the financial bleeding caused by industrial-scale fraud.

Major players like Meta, Coinbase, and Match Group have formed coalitions to share intelligence on pig-butchering operations, aiming to sever the communication lines between the scam compounds and their victims.

Engagement fuels fraud risks

This is the aftermath of prioritising engagement over verification. You end up with an ecosystem where scams and fraud flourish, and customers get hurt. At the heart of this crisis lies the EAR algorithm, a mechanism that inadvertently subsidises deception by rewarding the hyper-engaging nature of scams with lower distribution costs. This economic alignment between the platform’s profit motives and the fraudster’s operational goals has created a “Market for Lemons,” where predatory content effectively crowds out legitimate commerce.

The “Retargeting Loop” further exacerbates this by trapping vulnerable populations in algorithmic echo chambers, commoditising their susceptibility, and reselling it through the secondary market of recovery scams.

Technologically, the ecosystem has evolved into an asymmetric arms race, where enforcement is consistently outpaced by evasion. The transition from simple static landing pages to Generation 4 cloaking technologies, which are capable of analysing device telemetry, battery status, and gyroscopic movements in milliseconds, demonstrates that fraud is no longer the domain of opportunistic amateurs. It has industrialised into a sophisticated Fraud-as-a-Service economy. This shadow supply chain, composed of bulletproof hosting providers, identity brokers on the dark web, and commercial cloaking services, operates with the efficiency of the legitimate software sector.

By lowering the technical barrier to entry, these enablers have democratised access to high-end evasion tools, allowing even low-skilled actors to launch enterprise-grade attacks against global platforms.

The failure of self-regulation is now evident in the global legislative pivot toward platform liability. For over a decade, the industry operated under a “user beware” paradigm, but the sheer scale of financial loss has forced a regulatory correction. Initiatives like the United Kingdom’s mandatory reimbursement requirement and Singapore’s “Shared Responsibility Framework” signal the end of platform immunity.

By shifting the financial burden of fraud from the victim to the infrastructure providers, regulators are attempting to realign economic incentives. Only when the cost of hosting a scam exceeds the revenue generated from its ads will platforms invest the necessary resources to close the technological loopholes they currently tolerate.

Ultimately, the future of the digital advertising economy hinges on a fundamental shift from plausible deniability to mandatory verification. The era of anonymous algorithmic bidding must yield to a “Know Your Business” standard, where access to the ad auction is predicated on verified identity rather than mere creditworthiness.

As Generative AI threatens to flood the web with infinite synthetic content, the only viable defence is a strict chain of custody for digital identity. If structural reform doesn’t ensue soon, corporate social media platforms will slowly transform into a black market without oversight.

The world is reacting, but laws are struggling to keep up with fast-moving algorithms. For now, as a reader and consumer, be careful, any ad you see on Instagram or Facebook could be a scam, backed by Meta Platforms, the world’s biggest advertiser.

The post Meta lets scammers pay to play appeared first on International Finance.

Realising the challenge, Chubb Life Thailand, which places its customers at the heart of everything in its operations, has now committed itself to developing innovative products and services that meet the needs of Thai citizens at every stage of life.

“We have designed our critical illness insurance products ‘CI Extra Plus 90/10’ and ‘CI Extra Plus 90/20′, which provide comprehensive lifetime coverage for both life and critical illness to address customers’ needs for long-term protection planning and financial security for themselves and their families,” the company told International Finance.

The “CI Extra Plus” product, uniquely tailored to address diverse consumer needs, segments the market into three distinct groups: Working Adults (individuals who seek to plan and secure life insurance and critical illness coverage for themselves and their families), Parents/Guardians (individuals who wish to establish life insurance and critical illness protection to secure their children’s future), and Individuals Concerned About Critical Illness (people seeking a lump sum payment of money to prepare for future uncertainties).

CI Extra Plus offers long-term coverage for life and critical illnesses until age 90. The product also covers 65 critical illnesses, including five diseases for Critical Illness Group 1 (as declared by the Office of Insurance Commission), 45 diseases for Critical Illness Group 2, and 15 juvenile diseases.

“When diagnosed with a disease in Critical Illness Group 1, customers receive a 25% payout of the initial sum assured and can claim up to four times. If a significant illness is identified in Critical Illness Group 2, customers will receive a one-time payment of up to 100% of the initial sum insured and will no longer need to pay premiums, while still enjoying ongoing coverage,” Chubb Life Thailand noted.

Medical treatment expenses for Group 2 diseases are covered, and those who maintain their insurance throughout the contract period receive an additional payout of 10% of the initial sum. The premium remains the same throughout this period. Customers can also select their premium payment period, with options of either 10 years or 20 years. In terms of covering critical illnesses affecting juveniles, CI Extra Plus provides a special lump sum of 100% for the diagnosis of these diseases between the ages of 31 days and 15 years.

“The maximum coverage is up to 115% of the initial sum assured, while in cases of critical illnesses found in juveniles, this can increase up to 215% of the initial sum assured,” the company added.

To vividly promote and communicate the transformative aspects of CI Extra Plus, Chubb Life Thailand chose popular actor Chaiyapol Julian Poupart and his family. His portrayal of the story about protecting loved ones created an authentic advertising campaign that reflected the brand’s deep understanding of modern consumers, who value health security and family care. The warm and relatable presence of Chaiyapol Julian Poupart added credibility and created an emotional connection between Chubb Life Thailand and its customers.

“The campaign strategically emphasises the importance of insurance while instilling a sense of ‘need’ by comparing life to the familiar game of Monopoly. This clever analogy drives home the point that in real life, there is no ‘Get Out of Jail Free Card’ to escape the challenges of a critical illness without cost. Instead, ‘CI Extra Plus’ serves as an essential tool that enables you and your family to move forward confidently, reducing financial burdens and offering peace of mind at every stage of life,” Chubb Life Thailand asserted.

Ultimately, by truly understanding consumer needs, Chubb Life Thailand has successfully proven that a “great idea” can evolve into a product that allows Thais to plan long-term protection against life’s uncertainties, serving as a financial shield for themselves and their loved ones.

The post Chubb Life Thailand targets youth health risks with new cover appeared first on International Finance.

As per the European Commission’s 2023 data, 99% of European businesses are small and medium-sized ones. Apart from providing jobs to more than 85 million citizens in the continent, SMEs are also driving innovation and entrepreneurship in the region, while promoting a sustainable and digital economy. The start-up wants to revolutionise the sector further by redefining the payment experience for merchants, eliminating things like hidden fees, outdated hardware, and poor customer service.

Hand-holding European SMEs To Growth Highway

Flatpay’s operational value is simple: European merchants deserve a payment solution that is easy to understand, affordable, and free from hidden fees. To execute this, the start-up is offering a straightforward pricing model with no setup fees for terminals, no subscription fees, and a flat rate for all card types.

Flatpay’s journey began in 2022 when three digital entrepreneurship and payment solution experts came together in Copenhagen to disrupt the market with a simple, transparent, and affordable payment solution for small and medium-sized merchants. Since then, it has expanded its presence to Finland, Germany, Italy, and France, while continuing to grow rapidly.

Apart from witnessing a quick growth on the customer front, Flatpay’s own valuation has grown at a similarly fast pace as well. Now valued at 1.5 billion euro (USD 1.75 billion), the Danish start-up reached unicorn status in only three years. CEO and co-founder Sander Janca-Jensen, while interacting with TechCrunch, said that his company recently crossed the 100-million-euro mark, when it comes to annual recurring revenue (ARR).

He added that the amount (approximately USD 116 million) is increasing by nearly 1 million euro a day (USD 1.16 million) currently. The plan for 2026, as per Jensen, is to grow another 300% and close the year with between 400-500 million euro of ARR.

The Products

Flatpay’s payment options help SMEs thrive by streamlining their order and payment processes, giving the business owners more time and freedom to focus on operational growth. Apart from keeping the customer support active on a 24/7 basis to keep the payments running smoothly, day and night. Businesses, in return, only need to pay Flatpay at simple rates, with no hidden fees.

Take the payment terminal, for example, that automates the task of creating annual payment reports by uploading transactions and Z-reports directly to the businesses’ bookkeeping systems, saving time and reducing human errors. The payment terminal provides everything an entrepreneur needs to accept major cards like Visa and Mastercard, including contactless options, in one device.

Also, the device’s intuitive interface ensures less waiting time for customers, due to lightning-fast payments. All the business owners need to do is choose the payment terminal they need for their ventures, following which Flatpay takes over, in terms of completing full on-site installation of hardware, software, and setup.

Next is Flatpay’s POS (Point of Sale) solution, which streamlines payments, product management, and sales analytics for all businesses. Designed to make accepting payments faster, easier, and stress-free, the solution tracks sales, manages inventory, and generates reports directly from the client’s business’ POS, thereby donning the role of an “all-in-one business hub.” And it also integrates seamlessly with a wide range of accounting tools.

The POS has been customised for businesses of all sizes. For small ones seeking simple payment and management tools, the solution comes with a simple, clean setup with a tablet and portable terminal. For businesses that are ready to shell out more, the premium all-in-one POS comes equipped with a 15.6″ touch screen, built-in printer, and customer-facing display.

On the online payment front, Flatpay is enabling SMEs to receive online payments quickly and securely, at a competitive price. Not only do the start-up’s technologies and encryption methods ensure protection of payments and personal information of the business owners and customers, but it is also compatible with popular payment methods like Visa, Mastercard, PayPal, Google Pay and Apple Pay.

Expanding At A Steady Pace

As Flatpay entered the league of European fintech unicorns, the start-up will use the newly raised capital to support its continued growth in Denmark, Finland, France, Germany, Italy, and the United Kingdom, as well as eyeing further expansion into one or two new markets in 2026.

Flatpay currently has 1,500 staffers, or “flatpayers,” and plans to double that by the end of 2026. Increasing headcount is another crucial goal the company has locked in on the same level as revenue, as the start-up aims to grow both by 10x by 2029.

Flatpay believes that SMB owners actively look for new solutions, even if their current systems are overpriced or insufficient. As per Janca-Jensen, “That’s where we come in the door.” The start-up’s staffers show up with pen and paper to explain its pricing, and with card terminals for instant demos.

Flatpay is betting big on this particular hands-on approach to increase its market share against legacy providers like PayPal, Stripe, and SumUp, as well as new entrants focusing on specific sectors, such as hospitality. As SMBs want operational simplicity, Flatpay is ready to provide that.

The start-up is not completely averse to AI, as it uses the technology for real-time features and is currently experimenting with voice AI agents. The venture is also planning to expand further into fintech with a banking suite that would include cards and accounts.

The post Start-up of the Week: Flatpay emerges as European fintech unicorn challenger appeared first on International Finance.

With 24/7 access to real-time transaction data, ranging from traditional securities and wire transfers to digital assets like cryptocurrencies, the ability to monitor and manage limits is not just a back-office function but a core competitive asset. Buying Power Hub offers a transformative approach to limit management, enabling banks, brokers, and other financial institutions to process and approve transactions in real-time.

High complexity is a challenge

The world of banking and finance is fast-moving and complex, and managing customer buying power is a core task. Financial institutions need smart software, specifically a solution that captures every transaction across all trading and payment platforms. It must calculate accurate buying power and push real-time updates to connected systems. The result? Fully synchronised buying power. Instantly.

Smart software, real-time control

Tracking all transactions and synchronising buying power in real-time is only the first step. To stay competitive in the modern financial environment, banks and financial institutions need more, such as intelligent software that provides full visibility and control without delay, without friction, without any compromises. Let’s break down what future-ready buying power management software should deliver.

Monitor every transaction

Efficient buying power management starts with full coverage. Modern software must handle institutional and retail clients within a centralised but logically separated system.

Handle data streams without downtime

Continuous 24/7 trading and payment can’t afford downtime. That’s why rolling upgrades are essential. Instead of traditional version updates with full system restarts, modern platforms roll out new features incrementally.

Synchronise changes instantly

Financial activities and changes must be reflected immediately in all relevant systems. Real-time synchronisation with core banking platforms ensures accuracy and eliminates the lag caused by batch updates.

Customer and counterparty control

A modern system must be flexible. It should allow dynamic limit fine-tuning (automated or manual). For example, transactions typically exceeding limits can be approved under special conditions.

Detect risk factors in real-time

Speed is critical when the buying power is exceeded. The software should immediately flag overdrafts and present them clearly to front-office or risk management teams.

Scale under pressure

High volumes must not lead to system failures. Cloud-native solutions with horizontal scalability ensure that additional computing power can be deployed instantly as traffic spikes.

Ensure seamless integration

Flexibility is key to adoption. The software must work independently of specific systems and support modern interfaces such as Apache Kafka. At the same time, institutions with legacy environments like Websphere MQ or flat-file structures must be able to integrate via adaptors.

Numerous Advantages

Intelligent software enables banks and financial institutions to manage customers’ purchasing power in real-time, across all asset classes from securities to cryptocurrencies. Financial institutions have full control over their counterparty limits, which are updated in real-time across all asset classes traded on various systems.

By integrating cross-system transaction monitoring, real-time synchronisation, and flexible limit management, institutions can streamline processes, minimise risk, and approve transactions instantly. Cloud-native, platform-independent architectures with rolling upgrades ensure continuous availability, scalability, and compatibility with modern and legacy systems.

When banks rely on modern software solutions, they quickly reap many benefits—for example, real-time updating, risk minimisation and fraud prevention, efficient data processing, and dynamic limit adjustment. Centralised limit control management will also be a relief for risk and compliance management, since they have fewer systems to monitor at the same time, but a consolidated view across clients and counterparties.

In view of increasing regulatory requirements and growing complexity in trading, banks should therefore quickly implement solutions that make existing processes more efficient.

The post Empowering real-time buying in modern financial markets appeared first on International Finance.

The venture also raised nearly USD 10 million in debt financing from local banks in 2024, bringing its total raised since launch to over USD 30 million. The company also raised a USD 12.6 million pre-seed round in 2022, the largest of its kind in Africa.

In today’s episode of the “Start-up of the Week,” International Finance will talk in detail about the company.

Digitising Egypt’s Car Market

Omar El Defrawy, a former executive at a local food discovery platform, Elmenus, founded the used-car platform in 2021 and initially focused on buying used cars directly from consumers, refurbishing them, and reselling them with a warranty and money-back guarantee. Since then, the venture has evolved into a broader mobility platform, offering digital auto loans, car servicing, and a marketplace for third-party dealers.

While Egypt has over six million cars on the road, demand for used cars is growing amid currency devaluation and rising prices for new imports. In 2021, the government banned used-car imports, forcing the market to rely entirely on domestic inventory, driving prices to mirror the exchange rate.

Due to this, used cars in Egypt, while outnumbering new vehicles by 3:1, are primarily sold through unregulated dealerships or classified websites, where informal transactions leave buyers carrying most of the risk.

El Defrawy saw the opportunity to formalise processes in the country’s used car market, especially around activities like inspections, standardised pricing, digital financing, and securing ownership transfers. And the outcome was the inception of Sylndr.

As per the CEO, sales on the platform have increased nearly tenfold since 2022. Revenue in Egyptian pounds increased 22 times during that period, and by a factor of five when adjusted for the dollar.

The average sale price on Sylndr’s platform currently stands between USD 20,000 and 25,000. Another astounding fact is that sales figures have remained stable in dollar terms over the last three years, despite the Egyptian pound losing more than half its value. However, one should remember the fact that used-car prices in Egypt are marketed similarly to imported new cars, which are dollar-pegged.

Sylndr has expanded beyond car sales to three new verticals, to reduce its dependence on inventory and capital. We have Sylndr Swift, a digital automotive financing product that connects buyers with banks and underwriters. The platform provides financing approvals in under 10 minutes, while avoiding the scenario of lending from its balance sheet.

The start-up has also introduced Sylndr Plus, which offers inspections, maintenance, and servicing for cars sold on its platform. The third vertical, Al-Ajans, is a dealer-to-consumer marketplace that allows third-party dealers to list and sell cars with Sylndr handling inspection, ownership transfer, and payments.

Entering Sylndr’s Ecosystem

While Sylndr’s verticals run under its brand name, the start-up has integrated them all into a single mobile app, creating a one-stop shop for buying, financing, and managing car ownership.

According to El Defrawy, the company’s revenue gets evenly split between direct-to-consumer sales and B2B transactions with dealers. However, he expects that the newer financing and servicing verticals will contribute up to 60% of gross profit within two years. The start-up is working with more than 1,000 dealers across the Kingdom and serves both buyers and sellers through its online and offline channels.

Unlike other start-ups in Egypt that have traditionally used their home market as a launchpad for their eventual Gulf expansion, Sylndr plans to deepen its presence in Egypt, to consolidate itself as “the biggest used car trading company by volume and value.”

When it comes to selling used cars online, the start-up covers famous brands like Kia, BMW, Ford, Opel, Skoda, Renault, Volkswagen, Hyundai, and Peugeot, while offering attractive features like a 90-day comprehensive warranty, a vehicle return policy of up to seven days, and most importantly, making sure that the certified pre-owned vehicles undergo a rigorous 200-point inspection before being offered for sale.

If an Egyptian national wants to sell his or her car, all the person needs to do is contact “Sylndr Hub,” following which the entity will fill in the seller’s details and call the person within two hours to schedule the inspection. After the inspection is over, the seller then gets a selling offer within 24 hours.

To complete things, the individual performs minimal paperwork and gets the payment on the spot. However, the start-up prefers cars being manufactured from 2010 to date. The vehicle also needs to undergo mileage up to 180,000 kilometres and must be legally registered.

Sylndr Hub is right now not dealing with hybrid, electric, or natural gas-powered cars. To keep things flexible, the start-up also gives the option to the sellers to walk away from the selling deal if he or she changes mind at the last moment. In that case, the venture will still go ahead with the inspection.

In case the seller is transferring the vehicle’s ownership, despite having a loan or outstanding finance, Sylndr will pay the person 50% of the car price upfront, while the remaining will be paid in full after the car’s photo and other details are uploaded on the start-up’s website.

Buyers get to view a car using the start-up’s 360-degree digital photography, which allows the person to see the car and inspect it from every angle, inside and out. The buyer will be able to see the car’s condition, key features, and any imperfections.

Under the “Drive Now, Pay Later” model, Sylndr also provides car buyers with a “Suitable Payment Plan” using the start-up’s flexible “Loan Calculator,” with features like the lowest down payment, a seamless loan approval process, special loan conditions, attractive EMIs, and a flexible tenor.

Sylndr has partnered with several financing institutions to provide its customers with flexible financing options. The buyer will also be able to calculate his or her expected monthly instalments online, depending on the preferred tenor, down payment, and choice of a plan type (with a car sale ban or without a car sale ban). Once the applicant completes the online application, Sylndr’s team processes the application with the financing institutions, while keeping the applicant in the loop.

The buyers can finance up to 90% of their selected Sylndr Certified car, depending on the loan eligibility determined by the start-up’s financing partners. If the customer is not 100% satisfied with his or her vehicle purchase, the vehicle can still be returned under the seven-day money-back guarantee even when financed. The start-up will provide a 100% refund.

Image Credits:Sylndr

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Another good news is that till December 31, 2025, new customers making international transfers via PVConnect will enjoy zero PVcomBank transfer fees and waived SWIFT fees on their first transaction. For existing customers, PVcomBank offers the same fee waivers on “Golden Days” every Thursday for all outgoing international transfers. Additionally, members of PVcomBank Premier will enjoy this offer on both Tuesdays and Thursdays.

“Moreover, customers transferring money in Canadian Dollars (CAD) will also receive a 5 CAD discount per transaction (applied to intermediary/bank correspondent fees), with no restrictions on transfer purposes. As financial technology advances, international transfers are becoming faster and more secure. PVcomBank’s offers not only elevate the customer experience but also help reduce costs – especially for small, recurring, or urgent transactions,” PVcomBank told International Finance.

With its user-friendly interface and a range of powerful features, the PVConnect application has continued to gain the trust and support of many PVcomBank customers. Instead of visiting a bank encounter, customers can now perform international money transfers online 24/7, and proactively track detailed transaction information from initiation to completion, directly within the PVConnect platform. In addition, customers can see when and at what time their transactions are being processed.

“Furthermore, we provide exact updates on when transactions are processed and when the beneficiary receives the funds, keeping customers informed without incurring additional tracking costs. This feature is useful for tuition fees, medical expenses, or service fees to foreign institutions and organisations. Currently, PVConnect supports international money transfers in seven major currencies: USD, EUR, GBP, AUD, SGD, JPY, and CAD, with transaction limits of up to USD 100,000 equivalent per transfer, accommodating both individual and large-scale payment needs,” PVcomBank added.

To enhance the customer experience in international financial transactions, PVcomBank has successfully integrated the SWIFT GPI (Global Payments Innovation) system, connecting with over 450 member banks in more than 200 countries, thereby forming a diverse global financial network.

This step has allowed the bank to accelerate cross-border transaction processing, improve international payment services, and provide premium features like global payment transaction tracking, real-time monitoring from initiation to completion, transparent processing times and transaction fees and reduced transaction enquiry procedures. Through these efforts, PVcomBank affirms its commitment to delivering safe, efficient, and transparent international banking services for every customer.

The post PVConnect App: Transfer money anytime, anywhere appeared first on International Finance.

Credit demand among SMEs have been below average, and nearly 32% of SMEs reported stricter lending conditions from banks in late 2024. This tightening of credit standards reflects ongoing caution among lenders, who must balance risk management with the need to support business growth.

Despite these constraints, there is a path forward for lenders who can leverage digital transformation to meet the needs of SMEs and corporate borrowers more efficiently. With corporate lending in Germany expected to grow by 0.9% in 2025 (EY European Bank Lending Economic Forecast), institutions that streamline both loan origination and servicing will be best positioned to capture new lending opportunities.

Loan origination

Businesses today expect a seamless, data-driven loan origination process, whether small enterprises seeking working capital or large corporations securing financing for strategic investments. Yet many struggle with complex, slow, and often bureaucratic loan application processes. This friction is one reason why credit demand remains subdued; many businesses either encounter lengthy approval times or fail to meet stringent lending criteria.

To adapt to these conditions, financial institutions must simplify loan origination, ensure real-time integration of financial data and risk assessment tools, offer greater transparency in lending criteria, introduce workflow automation to expedite approvals, and ensure flexibility in lending models.

The rise of embedded finance in lending

One of the most significant shifts in business financing is the rise of embedded finance. For lenders, this shift presents an opportunity to reach SMEs and corporates more effectively.

By incorporating loan origination into existing workflows, financial institutions can secure a competitive advantage and provide a more seamless borrowing experience, thereby reducing the obstacles that often deter businesses from applying for credit. To facilitate this, lenders require flexible, automated origination solutions that can integrate with third-party platforms, ensuring real-time risk assessment and compliance.

By adopting technology-driven origination processes, lenders can improve financial access while managing risk more effectively—a vital factor, particularly as Germany’s corporate lending market moves towards modest growth.

Loan servicing

Once a loan is issued, the effectiveness of its management determines both lender profitability and borrower success. Traditional loan servicing methods, which rely on manual processes, create inefficiencies that can result in mismanagement, delayed repayments, and borrower dissatisfaction.

With the right approach, lenders can automate account creation and payment workflows, implement predictive analytics for arrears management, improve borrower-lender communication, leverage data for strategic decision-making, manage syndicated loans, and handle multi-currency loan portfolios.

Smarter risk management with alternative data

Many SMEs encounter barriers to accessing credit because they do not conform to traditional risk models. However, lenders are increasingly utilising alternative data, such as transaction histories, digital payment patterns, and supply chain activity, to create a more comprehensive view of creditworthiness.

By integrating alternative data into loan servicing and risk monitoring, financial institutions can identify potential risks earlier and offer tailored repayment solutions that enhance loan performance. This approach also aids lenders in expanding access to credit while maintaining robust risk controls.

In corporate lending, the use of real-time financial analytics is equally vital. Lenders are now integrating AI-driven analytics to monitor corporate performance in real time, ensuring they can detect early warning signs of financial distress. This is particularly pertinent for sectors experiencing volatility, where predictive analytics can assist lenders in managing exposure more effectively.

As lending conditions remain stringent, lenders who prioritise efficiency in servicing will cultivate stronger borrower relationships and reduce risk exposure, ultimately leading to a more resilient loan portfolio.

Adapting to a new lending era

While interest rate cuts will reduce borrowing costs, the broader challenge remains: how to improve lending for both financial institutions and the businesses they serve. The demand for a digital-first, automated approach to loan origination and servicing has never been more pressing.

Regulatory changes are also shaping the future of SME and corporate lending. The European Commission has implemented new frameworks aimed at enhancing SME access to finance, while open banking regulations are facilitating better data-sharing between financial institutions. For corporate lenders, Basel III requirements and sustainability-linked lending guidelines are affecting how risk is assessed and how ESG factors are integrated into credit decisions. With corporate lending in Germany expected to grow at a steady yet cautious pace, lenders must adopt a strategic approach to digitalisation, ensuring they can expand lending without increasing operational complexity or credit risk.

Lenders who proactively align their processes with these changes will ensure compliance and gain a competitive advantage in digital lending.

By embracing modern technology, data-driven decision-making, and customer-focused lending models, financial institutions can navigate the challenges of SME and corporate lending and position themselves for long-term success in a shifting market.

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The banking industry’s resilience is demonstrated by data from the Central Bank of Kenya (CBK), which indicates that profits have increased from $1.09 billion during the same period last year.

CBK Governor Kamau Thugge claims that March was the banks’ best-performing month, with pre-tax profits hitting $184 million.

On the other hand, August saw the lowest profits of $119 million, the only month since January when profits fell below $136 million. Despite this minor decline, the banking industry has continued to grow while other economic sectors have experienced severe disruptions.

Kenya had a difficult year, marked by challenges such as severe flooding and rain from March to June, political turmoil with anti-government demonstrations in June and July, and limited liquidity.

Despite challenges, banks have shown resilience, with the finance and insurance industry expanding by 7% in the first quarter of 2024, according to the Kenya National Bureau of Statistics.

However, in the second quarter, this growth slowed to 5.1%. According to the CBK, the banking industry will expand by 6% for the entire year, which is the slowest growth since the COVID-19 pandemic hit the economy in 2020, when growth was only 5.9%.

The general economic outlook seems more muted. The CBK has revised its prediction for the growth of the national economy from 5.4% to 5.1%. This change follows a slowdown in the second quarter, when growth slowed to 4.6% compared to 5.6% during the same time last year. Lending has decreased, which has also affected Kenyan banks.

The loan book for this sector was $27.2 billion at the end of August, a $1 billion decrease from $28.2 billion at the end of 2023. As the value of the Kenyan shilling increased relative to the United States dollar, this indicates both a decrease in lending and a depreciation of loans denominated in dollars.

The expansion of private sector credit has decreased dramatically; in August, it was only 1.3%, the lowest level in over five years. At the same time, the non-performing loan ratio rose to 16.7%, the highest level in 18 years. High credit costs have coincided with an increase in defaults and a decrease in borrowing. In February 2024, Kenya’s benchmark lending rate reached a 12-year high of 13%.

The CBK implemented consecutive reductions to the benchmark rate, bringing it down to 12%, in an effort to alleviate the burden on borrowers in response to these economic pressures. Reviving economic activity and encouraging borrowing are the goals of this.

In a statement, CBK said, “The Monetary Policy Committee noted the sharp deceleration in private sector credit and the slowdown in economic growth during the second quarter of 2024. It concluded that there was scope for further easing of monetary policy to boost economic activity while ensuring exchange rate stability.”

The performance of the industry will still be strongly correlated with more general economic developments, such as initiatives to control inflation, exchange rate swings, and international financial circumstances.

Strong security over PoS rollout

Network International, a Middle Eastern and African digital commerce enabler, has reaffirmed its commitment to ensuring strong cybersecurity measures as it launches new payment solutions in Kenya.

Judy Waruiru, its Regional Managing Director for East and South Africa, said, “We are introducing our point-of-sale (POS) solutions as part of our strategy to enter the in-person payments market in Kenya, a key hub for East Africa.”

Network International is providing merchants with new point-of-sale solutions at no cost as part of this rollout, enabling companies of all sizes to conveniently accept payments in-store or while on the go.

In order to accommodate a variety of payment preferences, customers will also have the option to pay with cards or mobile wallets. As the number of digital transactions in the area rises, the business is expanding its service portfolio and addressing growing concerns about payment system security.

During an interaction with African Banker, Paul Mutethia, Head of Commercial at Network International Kenya, said, “The risks in cyberspace have increased, especially Denial of Service, malicious codes, botnets, and bugs which hamper operations. We secure our internal systems when they interact with the external environment. Our transactions are encrypted, and all our solutions are secure. We ensure there is no exposure to cyber-attacks because we hold sensitive customer data.”

He revealed that there is a dedicated department within the company that handles threat management and cyberspace monitoring. It would be better to close the business if you don’t make any investments in cybersecurity.

According to data from the Central Bank of Kenya, there are only slightly more than 55,000 point-of-sale machines in the country. This is insignificant when you consider that the Kenya National Bureau of Statistics reports that there are 7.4 million registered micro, small, and medium-sized businesses (MSMEs). This reveals a serious weakness in the infrastructure for digital payments for companies across the nation.

The most recent products from Network International include contactless payment systems, improved mobile payment gateways, and e-commerce solutions designed to increase convenience while upholding strict security regulations.

JPMorgan Chase eyes presence in Nairobi

JPMorgan Chase, the biggest bank in the world by market capitalisation, is expanding in Africa, with plans to open an office in Nairobi, Kenya.

The bank is the largest lender in the United States, with $4 trillion in assets and operations in more than 100 countries.

It received an operating license from the Central Bank of Kenya (CBK) just days before Jamie Dimon, the CEO of the bank, travelled to the country. The action is part of the bank’s strategy for global expansion and demonstrates its increasing interest in making investments in the African market.

The bank has identified Africa, which has the youngest population in the world, as a key growth region due to its fintech innovations and the rise in institutional bankers.

In October 2024, JPMorgan Chairman and CEO Jamie Dimon travelled to Kenya as part of a trip to Africa that also included stops in South Africa and Nigeria.

“We are opening our first branch in Kenya, which we are really happy to do. We want to add a country or two in Africa every couple of years or so. And when you do it, you are basically covering the government, maybe some big government enterprises, and the multinationals that are going in there with traditional banking services,” Jamie Dimon said during an event in Nigeria.

Sailepu Montet, a former executive at CBK, has been appointed as the bank’s new Country Manager for Kenya. He has more than 20 years of banking experience and a solid foundation in financial markets from both the public and private sectors.

According to Dimon, the bank’s primary areas of interest are treasury services, commercial and investment banking, and possibly some lending in Kenya. Nevertheless, it does not currently have any plans to provide asset and wealth management services in the country, which are already offered in Nigeria and South Africa.

“We are not doing asset and wealth management now, but that doesn’t mean it won’t happen in the next few years,” Dimon added.

Nairobi was selected as the site for JPMorgan Chase’s office because of its growing prominence as a technology hub and its status as the gateway to the wider East African market, which makes it a desirable location for companies wishing to grow throughout the region.

Ten international banks, including Bank of China, Access Bank of Nigeria, Bank of Kigali, First Rand Bank and Nedbank of South Africa, Rabobank of Mauritius, and French lender Societe Generale, have representative offices in Nairobi.

The bank must, however, differentiate its offerings in various markets, such as Kenya, where regional and local lenders are well-represented. There are 46 commercial banks in the nation, providing services to 55 million people.

Nigerian banks go big

One of Nigeria’s leading commercial banks, First Bank, is now planning to expand to at least three African countries in its next growth phase, starting in 2025.

According to the Deputy Managing Director of the bank, Ini Ebong, the countries being targeted include Ethiopia, Angola, Cameroon, and Ivory Coast.

He asserted that there are growing opportunities in markets across the African continent, similar to “what we saw in the early 2000s in some of the larger African markets. We believe it is an opportune time to take part in this phase of growth.”

In December 2024, the Ethiopian parliament passed a law that allows foreign banks to open subsidiaries in Ethiopia. Foreign firms will only be allowed to own 49% of shares.

Also, during a panel session at the recently concluded Africa Financial Industry Summit, Ethiopia’s central bank governor, Mamo Mihretu, said the country had been working on the legislation that would finally open the banking sector to foreign competition over the past year.

FirstBank, which has been operating in Nigeria for 130 years, began establishing subsidiaries in other African markets in 2011 when it acquired Banque International de Credit, one of the leading banks in the Democratic Republic of Congo.

In November 2013, it acquired subsidiaries of International Commercial Bank Financial Group Holdings AG (ICBFGH) in The Gambia, Sierra Leone, Ghana, and Guinea. It purchased ICB Senegal the following year, completing its acquisition of West African assets and operations of ICBFGH. FirstBank also has operations in London and Paris, France, as well as a representative office in Beijing, China.

In January 2025, news emerged about Bidvest Bank being sold to Nigerian-based Access Bank, which is set to expand the latter’s operations in South Africa substantially. Johannesburg Stock Exchange-listed Bidvest is now eyeing the disposal of 100% of its holdings to Access Bank.

Bidvest is expected to raise R2.8 billion from the sale, which will then be used to settle its existing debt. Access Bank, on the other hand, plans to implement Broad-Based Black Economic Empowerment (BBBEE) ownership, including an Employee Stock Ownership Plan. The acquisition is expected to close in the second half of 2025, subject to regulatory approvals in South Africa and Nigeria.

The Bidvest Bank book, which mainly consists of leased assets, loans and advances, totalled R6 billion in December, and was funded by deposits of R8 billion. In its most recent financial year, Bidvest Bank generated a trading profit of R371 million and an operating income of R377 million.

Speaking of Access Bank, the largest lender in Nigeria by assets, it has established itself as a full-service bank with over 60 million customers globally across three continents, serving three principal segments: retail, business, commercial, and corporate.

Following the acquisition, Bidvest Bank is set to be merged with Access Bank’s existing South African subsidiary to create an enlarged platform to anchor the regional growth strategy for the SADC region.

Using Bidvest Bank’s local capabilities and its established pan-African presence, Access Bank now hopes to have increased capacity for intra- and inter-Africa trade, connect businesses, and create new opportunities for regional integration.

The Nigerian-based company noted that South Africa’s banking sector is the largest in Africa, with a combined tier-one capital exceeding $42.2 billion in 2022. Despite a tough operating environment, the industry still achieved headline earnings growth of 2.5% year-on-year and maintained strong profitability (ROE of 17%) in the first half of 2024. Access Bank will now leverage the latest acquisition to strengthen its business and SME banking as well as its foreign exchange services, while also introducing new services tailored to the South African market.

Access Bank has already been operating in South Africa since 2021 after it acquired Grobank Limited. Grobank, which was previously known as Bank of Athens, was primarily focused on agriculture before Access Bank transformed it into a retail banking operation. The group currently offers personal, business, and corporate banking in South Africa.

Banks embrace WhatsApp banking

In order to process payments more quickly and interact with customers more effectively, Kenyan banks are increasingly using WhatsApp banking. Conversational banking is encouraged by this model, which also streamlines customer journeys and improves user intuitiveness.

Kenya’s Housing Finance Group, commonly referred to as HF Group, became the first major bank in the country to deploy WhatsApp banking in 2019.

HF Group CEO Robert Kibaara said, “Customers can simply add HF’s WhatsApp phone number to begin a secure banking chat session.”

Since 2019, the KCB Group, Kenya’s biggest bank by assets, has also adopted WhatsApp banking. KCB hopes to improve its communications by utilising widely used messaging platforms as part of a larger plan to offer individualised services.

A subsidiary of South Africa’s Absa Group, Absa Bank Kenya, followed suit in 2021 by launching the “Abby” WhatsApp banking service.

A Mumbai doctor’s loss of $2,000 from his WhatsApp wallet raised cybersecurity concerns, while many Kenyan consumers were ecstatic about the new banking model at the time.

“We have put up stringent measures to make WhatsApp banking secure for everyone. We have several security layers on the platform,” the bank’s head of digital channels, Andrew Mwithiga, told African Banker.

In 2022, Equity Group, which has the largest customer base in Kenya, introduced the Equity Virtual Assistant, a WhatsApp banking platform. With its open banking model, I&M Bank has also entered the WhatsApp banking space, initially providing customer service for non-transactional enquiries.

Through its AI-powered chatbot, Zuri, M-Pesa, the top mobile money platform in the world, has integrated WhatsApp banking since 2020. In Kenya, M-Pesa is used by more than 95% of households.

According to Statista, as of January 2024, 86% of Kenyan internet users were using WhatsApp, making it the most popular messaging app in the country. In Kenya, there were 7.9 million WhatsApp users as of 2023.

Meanwhile, an €8.51 million loan from the African Development Bank has been approved for Senegal’s “Programme to Promote Efficient Lighting Lamps” (PPLEEF), a groundbreaking project aimed at promoting energy efficiency in the nation. This establishes a new standard for sustainable development in Africa and is the bank’s first entirely focused demand-side energy efficiency investment project.

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Previously, he held senior roles in the Ministry of Municipal, Rural Affairs, and Housing, as well as Saudi Civil Aviation Holding Co., where he played a key role in privatisation projects and strategic restructuring.

Recently, International Finance caught up with Nami CEO Abdulmohsen AlSudairy, who shared his views about POS solutions, leadership strategies, challenges faced, and much more.

What inspired Nami to innovate within the POS solutions sector, leading to recognition as the Most Innovative New POS Solutions Provider in Saudi Arabia for 2024?

Nami’s recognition as the Most Innovative New POS Solutions Provider in Saudi Arabia for 2024 is a testament to our success and continuous innovation. Our strategic approach emphasises customer-centricity and collaboration. The company was inspired to innovate within the POS solutions sector by the pressing need for efficient, user-friendly payment systems tailored to the evolving demands of the Saudi market.

Understanding the challenges faced by merchants, Nami strategically integrated advanced technology with intuitive design to enhance the customer experience and streamline operations. This aligns with Saudi Arabia’s Vision 2030, which promotes economic diversification and digital transformation.

Nami’s marketing strategy is built around deeply understanding consumer pain points and identifying unique opportunities to differentiate in the B2B market. By placing customers at the heart of its strategy, Nami prioritises collaboration over competition, partnering with leading financial institutions and fintech experts. This not only expands their offerings but also actively shapes the market in response to customer needs.

The company’s commitment to digitalisation and innovation is evident in its transformation of internal structures and processes, focusing on creating seamless, scalable payment experiences. By empowering partners with end-to-end technology solutions, Nami fosters sustainable relationships and aims for long-term success, ultimately driving innovation, operational efficiencies, and enhanced customer satisfaction.

Can you share some key strategies that have shaped your leadership approach at Nami?

My leadership approach at Nami is shaped by key strategies that include empowering team members through collaboration, maintaining a customer-centric focus, and promoting continuous learning and adaptation. Empowerment and collaboration are central to this philosophy; I believe that when team members feel empowered, they are more motivated to take the initiative and contribute their unique perspectives. I always encourage open dialogue and communication at all levels, where everyone is invited to share their ideas and insights without fear of judgement. I also schedule regular brainstorming sessions and collaborative projects to spotlight our talents and lead to an innovative and motivating culture.

This collaborative spirit enhances team collaboration and drives collective problem-solving, enabling us to address challenges more effectively and respond efficiently to client needs. Additionally, I emphasise agility and flexibility to adapt to market changes, align our goals with broader initiatives, and foster open communication to build trust and accountability. Together, these strategies create a dynamic and innovative environment that drives success and positions Nami as a leader in the payment solutions sector.

What are some of Nami’s most significant market challenges, and how has the company navigated increasing competition in the industry?

Nami has faced several significant market challenges, including intense competition, rapidly evolving technology, and changing customer expectations. To navigate these challenges, the company has adopted a multifaceted approach.

Firstly, we have focused on differentiating our offerings by investing in research and development to create innovative POS solutions that meet specific needs in the market. This commitment to innovation has allowed us to stay ahead of competitors and capture the attention of potential clients.

Secondly, we prioritise building strong relationships with our customers, actively seeking their feedback to refine our products and services. This customer-centric approach not only enhances loyalty but also helps us anticipate market trends and adapt accordingly.

Finally, we have implemented strategic partnerships with key industry stakeholders, which have expanded our reach and enhanced our capabilities. By collaborating with technology providers and financial institutions, we can offer integrated solutions that deliver greater value to our clients.

Looking ahead, what is your vision for Nami’s future, and what key targets are you aiming to achieve over the next few years?

My vision for Nami’s future is to become the leading provider of innovative payment solutions and infrastructure in the region, driving digital transformation for businesses of all sizes. We aim to expand our market presence by enhancing our product offerings and leveraging emerging technologies such as artificial intelligence and cloud-based solutions to meet the evolving needs of our clients.

In the next few years, key targets include increasing our market share by at least 20%, launching new features and products that enhance user experience, and continuing to collaborate and establish strategic partnerships with industry players to broaden our capabilities and grow the industry together. Additionally, we plan to invest in talent development to ensure our team remains at the forefront of industry trends and innovations.

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