Last week I received a call from Graham Fehrsen, Country Manager CFO South Africa and Fintech Africa inviting Afro Leo to attend one of their events next week held at the Gordon Institute of Business Science. It looked so interesting that I thought I would share it with you on this blog (see details here). The meeting promises "100 insiders, experts, startups and investors" that will discuss developments and challenges for Fintech in Africa.
For those that do not know what "fintech" is, it short for financial technology and is defined by any self respecting Google search as :
"a line of business based on using software to provide financial services. Financial technology companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software."
According to the The Financial Services Blog it is described as
“...the R&D function of financial services in the digital age….less to do with technology more to do with business model reinvention and customer centric design. Fintech can be categorised as:
- Traditional fintech as ‘facilitators’ with larger incumbent technology firms supporting the financial services sector; and
- Emergent fintech as ‘disruptors’ with small innovative firms disintermediating incumbent financial services with new technology.”
Hope to see you there.