The surge of the new 4th Industrial revolution is right upon us and with it the growth of financial technology (Fintech). Both of these innovations are quickly changing the world and hold much promise for the African continent.
Dragon’s Den investor and founder of the Gem Group of Companies, Lebo Gunguluza, is combining these innovations by launching the first Fintech bank on the continent. The event will take place at the Hilton Hotel, Sandton on 12 December 2017.
The new-age challenger bank will be introduced as the new Fintech division of the Gem Group Companies and will give customers high-level access to their banking in real-time and in absolute transparency.
“There are over 15 million smart phone users between the ages 16 and 34 in South Africa alone; and that is our primary target market. We intend on creating a borderless bank that will serve and ultimately unite Africa,” executive chairman and co-founder of the Challenger Bank, Gunguluza says.
Fintech entrepreneur and the challenger bank’s co-founder Thabang Kekana says the app will make retail banking highly accessible to the youth and the unbanked African countries by using technology, mobile and artificial intelligence that is targeted at the millennials.
“This will be first ever borderless, paperless and branchless bank in Africa to serve Africa, where all services are carried out through a mobile device in real-time. This retail challenger bank through the iPhone, Samsung or any other android smartphone, will allow its users to open a bank account and start transacting immediately,” Kekana says.
With the rising trend of fast, automated and cyber systems this bank will give its users access to a new marketplace and introduce them to a new world of tech innovation.
The Future is here!