We know how difficult it can be to launch and scale innovative fintech solutions on the continent, and to access the support, funding and tools needed to bring these innovations to life.

In February 2022, we invited ten early-stage fintech startups from South Africa, Nigeria, Ghana and Kenya to Cape Town to share what they’re building with more than 100 fintech investors and builders from around the world, as part of the Stitch x Raba global fintech meetup.

Startups included Abela, Bettr, Munch, Sava Africa, Alvin, Get Equity, Hashgreed, Feather Africa, Zuberi and PayBox.

(https://comotion.uw.edu) Originally streamed March 11, 2022, 12 p.m. – 1 p.m., Dave Wong spoke about “enterprise fintech”, an area of fintech that is not well known to the mainstream public.

In the years following the 2008 financial crisis, investment banking has come under considerable scrutiny from regulators, with problems compounded by the rise of “fintech”, which is commonly associated with startups that are looking to disintermediate commercial/investment banks from the financial system. Enterprise fintech serves banks and other financial institutions to help them navigate the ever-changing financial services industry. Dave shared his experiences working in this industry over the past two decades.

Dave Wong has extensive sales and product experience in Investment Banking Enterprise Software. He currently oversees the product development of Salesforce for Wells Fargo Securities. His prior experience includes working in trading, risk, and compliance technology for investment banks, hedge funds, and various early-stage fintech startups, which have since become part of Fiserv, CME, MSCI, Thoma Bravo, and ION Trading.

(https://comotion.uw.edu)

Retail giant Walmart is now venturing into #Fintech. In today’s episode of All About Payments we cover Walmart’s new Fintech startup in partnership with Ribbit.

In our breakdown we cover:
↳ What we know now about Walmart’s FinTech
↳ Walmart’s Business Blueprint
↳ Why Walmart is Entering FinTech
↳ The “All-in-the-same platform strategy”
↳ The banking infrastructure “as a service”
↳ Why every company should be leveraging financial services

Do you think more (traditional) retailers will be venturing into Fintech as the industry becomes more accessible? *Comment your thoughts ��️��*

#Walmart #Payments

Transcript: Does Walmart’s venture into FinTech signify the near future in which every company will be a fintech?

Goodmorning everyone, my name is Jamyl Jonker from PaymentGenes, and today, It’s all about payments!

We asked you delivered. Walmart’s Venture into FinTech received the most votes, so today I will breakdown the news, before I do that, please hit the like button, helping the LinkedIn Algorithm with the “content quality scoring”

Walmart is launching a new standalone FinTech company, the retail giant announced that they’re partnering with venture capital firm Ribbit, one of the best known VCs in FinTech, to deliver “tech-driven financial experiences tailored to Walmart’s customers and associates”.

Besides plans to add independent industry experts to the board, build a management team of “experienced fintech leaders” and having said that they will keep the credit card, money card, installment financing, and other offerings intact – we are yet to be given any specific details on its product plans. .From my perspective, I’m assuming that it would make sense that Walmart may look to supplement other financial services already offered and will continue to engage in partnerships or acquisitions with other fintechs as this signifies the Walmart business blueprint.

Why is creating a FinTech startup in Walmart’s “Business Blueprint”? from a strategy level, they’re in retail, eCommerce, partial owner of the social platform, TikTok, and financial services. Those are not random moves.

(Insert “All-in-the-same platform strategy” section screen) They are moving towards that next level of social commerce, and this venture in FinTech is of significant importance in what I like to call the “All-in-the-same platform strategy” Trademark that Cenk.

Take for instance, Amazon or Alibaba’s financial service offering, they are by all means, the industry leaders when it comes to the “All-in-the-same platform strategy”.

Walmart is moving rapidly towards that direction, growing beyond retail, and moving towards an infrastructure, providing major financial services. This FinTech focus is just the latest in a string of moves diversifying away from its core business.

Back to my question: Does Wallmart’s venture into FinTech signify the near future in which every company will be a fintech? No, but there’s going to be a lot more non-financial companies incorporating Financial Tech solutions in their business offerings. No Doubt.

How? The banking infrastructure “as a service”—is coming to financial services. And this transformation will reduce the cost and complexity to become a financial services company, and importantly, it will unleash thousands of experiments that will pave the way for the future of banking.

It’s happening right now
Apple
Uber
Shopify
GoogleFacebookWhatsapp
There’s literally a case to be made for most companies. Regardless of industry.

Where we first thought it was exciting and new to see that Big Techs entering financial services, now it’s normal. And currently its new and exciting to see other companies outside of traditional financial services enter, soon it won’t.

Essentially, if you are a Tech business owner, watching this video, and you don’t have any financial services, well…

jokes aside, every company, should be thinking about how to leverage financial services to better serve their customers, better retain their customers, and drive more margin.

As seen, we love involving you, our network of FinTech Experts in All About Payments. If you want to make your voice heard, please comment a topic down below, or vote on our next poll.
That’s all for this week, hope you enjoyed this episode, see you next week, cheers bye bye.

Another guest of Andersen FinTech is Jim Marous – one of the most influential people in banking, a Top 5 FinTech Influencer to Follow, co-publisher of The Financial Brand, owner of Digital Banking Report, and host of the Banking Transformed podcast!

Interviewer: Denis Astapchenia – Director of Financial Technologies at Andersen.

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And will specialized services help to maintain anonymity?
Will robot bankers become more successful in running large financial institutions than humans?
And will the neural network become the most successful trader in the stock market?
Is there any likelihood of people becoming debt slaves of AI?
What will experiments with CBDC lead to?
And will investments in the metaverse actually be profitable?

Subscribe to our channel if you like what we do!
And please like and comment on the video – it is important for us to receive feedback to become even better!

Andersen FinTech domain:https://andersenlab.com/industries/financial-services?utm_source=youtube &utm_medium=referral &utm_campaign=paolo-sironi
Denis Astapchenia on LinkedIn: https://www.linkedin.com/in/denis-astapchenia-8b670633/

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00:00 Preview
01:32 Ad
02:00 Evolution of financial systems
03:38 What makes the US financial system different from European and Asian ones
06:25 Why will only large and small banks be a success?
07:49 How can banks become more attractive to customers?
16:14 Financial sector regulation
19:16 Financial system vulnerability: psychology and analytics
24:41 Modern technologies: a threat to global financial health or a path to development?
27:17 Data confidentiality in the digital environment
31:31 Robotization of the banking sector, neural networks, and ChatGPT
35:38 AI in banking
41:49 Experiments with CBDC
45:03 Will investments in the metaverse be profitable?
51:34 Cyber security in the digital world
53:13 Can the virtual services market surpass the real one?
55:42 Tech innovation – the key to the rapid growth of companies
59:13 Book recommendations