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Are Banks the Next Dinosaurs?

thebarefootvc

Last week, I spoke at The Economist’s Buttonwood Gathering in NYC about how emerging markets (and Africa in particular) are leapfrogging innovation in the financial services sector. employ 60K people in 11 countries. Banks, if they don’t begin to explore new business models to service customers, will become extinct during this process.

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Mobile Payments: The Trillion Dollar Industry That's Never - AgileVC

Agile VC

They are fully fungible for hard currency through Safaricom’s network of retail partners for either the sender or recipient of an M-Pesa mobile payment. And at the end of the day it appears Isis will just be working with the existing credit card networks Visa, MC, Amex, & Discover. . Good luck to Ben.

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article thumbnail

Are Banks the Next Dinosaurs?

thebarefootvc

Last week, I spoke at The Economist’s Buttonwood Gathering in NYC about how emerging markets (and Africa in particular) are leapfrogging innovation in the financial services sector. employ 60K people in 11 countries.