Why FinTech Innovation is Important

Fintech refers to a new emerging financial technology sector focusing on delivering better, more innovative products and services than traditional financial institutions, and by reducing costs to the consumer.

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FinTech help drive improvements in traditional financial services and promote disruption through innovative new products and services, which can offer benefits to consumers and other sectors of the economy. FinTech offer solutions that are efficient and effective at lower scale which benefit small businesses and provide them with increased access to more diverse funding options. Innovative FinTech products can be better tailored to the needs of small businesses. These include marketplace (peer‑to‑peer) lending, merchant and e‑commerce finance, invoice finance, online supply chain finance and online trade finance.

Smarthome connect is a digital disruptor working on FinTech platform, SmartMaliwww.smarthome-connect.co.za. This will drive digital economy for the future. 

We know that FinTech is not just about digitising money, it’s about monetising data. It’s about how we can create and capture the value‑add from data, previously limited by the technology we had available. It is the second‑round value surge that is now starting to flow from an increasingly digitised economy.

FinTech solutions hold enormous potential benefits to all business, especially new and existing small businesses. Small and medium sized enterprises (SMEs) are crucial for economic growth and jobs but some can face difficulty in securing the financing they need to survive and prosper.

Startups and small businesses contribute greatly to the economic and social development in Africa by generating innovation and change, as well as contributing to job creation.

Watch out for for the launch of SmartMali


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