Improved access includes the usability and quality of these services, with most fintech solutions targeting the underserved population, including the youth, women, low-income earners, rural communities, and SMMEs. In the decade since, that number has grown to 43%, much of which can be attributed to the fintech and mobile money solutions developed since 2011. The success of these fintech startups has been driven by their ability to meet an underserved need in the market. Large commercial banks are competitively trying to retain market share, with fintech companies challenging their previously moated positions. In response to these fintech pressures, large corporates are engaging in M&A activity for various reasons, including access to disruptive intellectual property and tech products, scarce tech talent, and gaining speed to market.

Source: The North Africa Journal March 17, 2023 20:47 UTC