Lender - eriinfo

AI-powered lender Optasia targets SA’s underbanked

eriinfo.com2 weeks ago010 mins

South Africa is still a cash-based economy, says Optasia. (Image source: iStock) Artificial intelligence (AI)-powered fintech company Optasia is stepping up its push into South Africa, betting that AI-driven credit scoring can unlock financial services for millions of people who remain underserved by the country’s formal banking sector. Speaking to ITWeb in an interview yesterday,…

Africa

Africa: Standard Bank Becomes First African Lender to Plug Into China’s Cips

eriinfo.com9 months ago04 mins

Standard Bank has become the first African bank to directly integrate with China’s Cross-Border Interbank Payment System (CIPS), providing African companies with a faster route to pay Chinese suppliers in Renminbi, rather than routing transactions through the US dollar. The integration removes an extra step long embedded in Africa-China trade flows, where companies typically settled…