Blog
Industry Information. Product Updates. Trending Topics.
In a connected world, the smart way to share knowledge is through blogs. At Modefin, we ensure that we communicate every breakthrough with a short piece on the product, solution or platform. Check the content below for a bank of information and insights from our domain experts.
The Rise and Fall: Why Ugandan Investment Clubs Struggle (and How Tech Can Save Them)
Investment clubs in Uganda are experiencing a surge in popularity. Fueled by a collective desire for financial growth, these groups offer individuals a chance to pool resources and achieve their investment goals. Traditionally focused on close circles, investment clubs are expanding, incorporating diverse expertise to…
ISO 20022: The transformation from SWIFT MT to MX message formats
The payment landscape constantly evolves, but some leaps are more significant. In our globalized world, where commerce transcends borders, payment transactions are becoming increasingly diverse, numerous, and intricate. To address this complexity, the industry is gearing up for its most significant migration yet: the transition to…
Omnichannel Banking Solutions elevate Customer Experience and Transform the Financial Industry
The financial services industry, or BFSI, is rapidly evolving, and consumers demand more convenience and accessibility in their banking experiences. To meet these demands, banks and financial institutions are turning to omnichannel banking, which seamlessly integrates multiple banking and service delivery channels into a cohesive…
Transformative Waves: AI Solutions Reshaping the Landscape of Retail Banking in Africa
The African banking sector is undergoing a significant transformation spurred by rapid artificial intelligence (AI) advancements. AI-powered solutions are revolutionizing retail banking across the continent, improving customer experience, increasing operational efficiency, and opening up new opportunities for financial inclusion. The AI in banking market is…
Revamping Payment Practices: The Emergence of QR Codes for Merchant Payments in Emerging Markets
Given the pace at which today’s digital customers function, businesses must implement strategies to collect payments quickly and efficiently. A Quick Response (QR) code offers that and more. QR codes have become integral to the payments industry in recent years, providing a cashless, convenient, and…
From Exclusion to Inclusion: The Importance of the ‘Business Correspondent’ Model in Creating a Level Playing Field in Banking
The traditional banking model has been dominated by physical branches, historically a significant barrier to inclusion for many people, particularly those living in remote and rural areas. To ensure greater Financial Inclusion and increase the outreach of the BFSI sector, the banks started giving permits…
Agency Banking for New Age Banks: Connecting Financial Services to Underserved Communities
Agency Banking is a branchless banking that allows banks and financial institutions to extend the network and reach of their products and services cost-effectively through authorized agents. On behalf of banks, an agent offers simple banking services like deposits, withdrawals, transfers, and bill payments to…
Branchless Banking is what revolutionizing the African banks
Branchless banking, or agency banking, is a financial service model that has recently gained considerable popularity in Africa. It allows customers to access banking services without needing physical branch locations. With over half of the African population owning a mobile phone, branchless banking is a…
Digital Financial Services: A Game-Changer for Bangladesh’s Economy
Digital finance, Digital Banking or fintech (short for financial technology), is a growing industry that uses technology to improve and automate financial services. The digital financial services industry has been experiencing a rapid expansion in Bangladesh, with new startups and online platforms emerging regularly to…
Is autonomous Finance what the world needs- a world without banks?
Consider a world where the finances won’t need manual spreadsheets and laborious calculations; your financial tasks are effortlessly handled or simply self-driving. The realm of Autonomous Finance is where cutting-edge technologies like Artificial Intelligence (AI) and Machine learning(ML) are revolutionizing, which automates and improves much of our…