The Gates Foundation twitter feed featured a short video about how Level One Project enables financial inclusion. The video features an animation of one of my sketches, hats off to the producers!
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Author: Kosta
Innovation is much more than the simple interchange of the position of the earth and sun.
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Mobile money interoperability is the next revolution in Africa, this is what you need to know
Published on CNBC Africa, 20 Jul 2018
Several regions across Africa are zeroing in on what promises to be a new frontier in the fast-growing digital economy: mobile money interoperability. That means anyone in an interoperable region with a mobile money account can transact with anyone else who has an account, whether they use the same service provider or not. And when that happens, mobile money instantly becomes more useful to more people, enabling them to more easily save, borrow, and transact with all the people and institutions they need to connect with, instead of just those on their same network. When connected with banks, mobile money becomes even more valuable as people have a safe, secure place to store their assets.
Read the rest here – CNCB Africa
Flip-flops and finance: the current state of fintech for the poor
Earlier this year, I spoke to three different audiences of financial services and fintech innovators at three different conferences in Europe. I posed the same question to each one:
What do flip-flops have to do with bank accounts?
Read the rest on LinkedIn
Advances in Real Time: Challenges and Solutions in Interoperable Payment Systems
In the latest edition of Innovations: Technology, Governance, Globalization by @MITPress, my team explores some of the principles and challenges of creating an inclusive, interoperable hashtag#digitalpayment platform. We also share more information on Mojaloop.
Read on MIT Press Journals
Financial Inclusion Is Making Great Strides
I’m glad to have contributed to this excellent report from The Economist, super well informed and documented. I’m glad we can show progress in connecting the remaining 1.7 billion unbanked and poor people
Read on The Economist
FinTech Prediction For 2018
I was recently asked for my FinTech prediction for 2018. Here it is –
We will see in 2018 the first deployments of real-time retail payments platforms powered exclusively by mobile phone access. Driven by financial inclusion, these super-scalable and ultra low-cost platforms will represent the first steps taken by pioneering countries in Asia and Africa, driven by commercial players in strong collaboration with central banks and governments.
These 100% digital platforms will connect new financial services such as mobile money into an interoperable system connecting mobile wallets to institutional payers and merchants, and traditional bank accounts. These platforms will also enable easy access to payments for the new applications of the future, such as the solar battery leasing companies, transport companies and others.
As usual – a picture is worth a thousand words, so my sketch tries to capture this visually.
Wishing you happy holidays, I look forward to work with you and make this prediction reality in 2018!
Announcing Mojaloop: A New Tool for Looping the Poor Into the Economy
For the last year, I’ve been talking about the need for an interoperable financial system that will bring essential financial tools to the 2 billion unbanked people in the world. Today, I’m proud to announce that the Bill & Melinda Gates Foundation has taken a giant step toward this goal.
Read the rest on LinkedIn
