Finserve Africa awarded 2021 Best in E-Commerce Gold Category at the 3rd Edition of the Kenya E-Commerce Awards
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| October 6th 2021
Finserve Africa, Equity Group’s fintech subsidiary, received the best in E-Commerce - Banking/Financial and Insurance Services Gold Category award at this year’s 3rd Edition of the Kenya E-Commerce Awards. The award recognised Finserve’s continued commitment to innovation and customer-centricity in Kenya and Africa.
Finserve Africa Managing Director, Lanre Bamisebi who is also Equity Group IT and Operations Director, said Finserve’s suite of products and services offer innovative solutions in payments, remittances, and account settlements.
“Our solutions can be used in any industry and by any business, be it a small shop or a large organization. We offer users convenience and increased efficiency in operations and have recruited the best personnel in the industry to continue to offer our customers seamless services and support and continue to remain on top of any trends in the industry,” said Lanre.
Finserve was borne out of a deep-seated need to break down financial barriers. The fintech employs data, insights, and efficiency to develop solutions that provide richer customer experiences to address complex financial and lifestyle obstacles. Lanre said that Finserve took advantage of the COVID-19 pandemic to review its products in line with the changing business environment and economy.
“We noted the increase in remittances from the diaspora, with millions of transactions happening every month and came up with different solutions to support our clients during this period. We also noticed that the internet economy was expanding, driven by the accelerated shift of businesses online during the lockdown periods. By improving and upgrading our products, we were able to deliver better experiences for our customers, including the upgrade of our Equitel network to the 4G spectrum to give customers better browsing speeds,” he added.
Finserve has distinguished itself as an innovator with futuristic solutions that will contribute to the ease of doing business in Africa and beyond. The company operates Equitel (MVNO), a one-of-a-kind platform that converges mobile telephony and banking services. Equitel enables customers to call, browse, text, save, transfer money, apply for loans as well as pay for goods and services.
Recently, Equitel launched its fourth generation (4G) high-speed broadband network, offering faster speeds to browse, stream, download and upload for customers in line with current market demands. The upgrade will enhance customer experience, more so in the current environment where customers are working from home and require better connectivity.
To address the increase in remittances, Lanre further added, “We also upgraded Jenga Payment Gateways and APIs to offer convenience in remittances processing, loan products, mobile payment solutions, and instant notifications on financial transactions among other solutions.”
The payment ecosystem is constantly evolving with a lot of focus going towards making digital payments simple, easy and safe for everyone. With the increase in payment service providers, businesses are looking for options and solutions that grow their conversions and sales.
Through API integrations provided by Finserve’s Jenga API, the fintech enables ecosystems in financial services, commerce, agriculture, wealth management and telcos to manage liquidity, payments and online transactions through innovative self-service tools, solutions, and capabilities. Jenga API provides businesses and tech developers with capabilities to integrate sending money, payments, banking, insurance, brokerage, wealth management and telco across East and Central Africa into mobile apps, e-commerce sites and other systems.
“Through our highly experienced and dedicated developers, we are constantly implementing new and advanced payment technologies to meet our customers’ evolving needs,” noted Lanre.
Digital payments allow businesses to reach the ‘hidden customers’ that they would not access from their physical shop. The need to be able to sell products and services and to collect payments online has increased greatly and hastened the growth of e-commerce.
The Jenga Payment Gateway platform from Finserve allows businesses to receive e-commerce and m-commerce payments from a host of payment channels such as American Express, Visa, Mastercard, Diners, JCB, Union Pay and other card associations across East & Central Africa. Under Jenga 3.0, merchants have been enabled to self-onboard onto the platform without the need to call the back office.
“We have incorporated artificial intelligence and machine learning, which is a holistic solution that will enable us to serve all our customers better,” said Lanre.
Finserve believes in setting globally competitive standards of innovation and creativity born out of the African continent. Its solutions have gone through world-class rigour and testing to ensure the security and integrity of services offered by the fintech.
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