That is the story of how Velmie empowered the Tunisian Central Bank with blockchain payment software to run a pilot project of introducing CDBC wallet.

CBDC Software Development
CBDC Software Development

What is CBDC (Central Bank Digital Currency or National Digital Currency)?

CBDC uses an electronic record or digital token to represent the virtual form of a fiat currency of a particular nation or region [Source: Investopedia]. It is a state-issued and regulated digital asset (by the competent monetary authority of the country — central bank) in comparison to cryptocurrencies that operate via blockchain in a decentralized way.

Thus, CBDC provides multiple benefits like faster, less costly transactions and high security. Moreover, this approach is also able…

Building a banking app tailored for small business owners to help them grow and thrive.

Mobile Banking App for Female Entrepreneurs
Mobile Banking App for Female Entrepreneurs

Encouraging Female Financial Inclusion

Today about 980 million women still have no access to financial services — which makes 56% of all unbanked adults globally. This means that their money is not protected, they have no access to savings or checking accounts, and they are unable to receive loans, get insurance or life assurance. What is more, those without an account, tend to be concentrated among poorer households.

Bringing more women into the financial system historically leads to financially stronger families, communities, and business sectors — which together catalyze…

Growing Impact of Financial Software Solutions

The COVID-19 pandemic provided a unique opportunity for the fintech industry. It fast-tracked a shift from traditional banking services predominance to the abundant digitalization of financial services. This year is likely to be just as momentous, with digital banking no longer considered just a financial lifeline but a way of life. With that comes countless opportunities to introduce customers to a much broader universe of virtual financial services and the limitless revenue-generating potential these create.

With customers likely to become increasingly familiar with what the industry has to offer — and more sophisticated in their product and service preferences —…

The MENA region is fast becoming an exciting frontier for the FinTech industry, with growth benefiting from a confluence of contributing factors, including favourable demographics, economic potential, digital appetite and mobile penetration.

The financial technology industry is in the beginning of its development in the MENA region. That is illustrated by the fact that the Middle East FinTech startups received a mere 1% (about $0,4 billion) of all venture capital FinTech investment across the globe in 2018. However, the growth off this low base is likely to be strong, with the FinTech sector across the Middle East already growing at…

As the new year approaches it is a great time to recap 2020 outcomes, review market activity and expert predictions for 2021 to tailor the strategy accordingly. This year was full of unpredicted events with the pandemic and lockdown as major ones that had a strong influence on the financial industry. In this list, we summarized 20 recommendable articles to help you navigate to 2021.

FinTech Global Trends 2021

The global FinTech ecosystem continued to grow and develop during 2020, despite slight funding cool down. With worldwide fostered digital transformation, more focus on unbanked population and FinTech regulations, technology advances, 2021 is expected to…

Velmie, a mobile banking technology provider, carried out research on how the MENA FinTech environment has been transforming recently. The aim was to spot specific regional trends, drivers and challenges that are likely to influence the FinTech industry in the Middle East and North Africa in 2021 and further.

The financial technology industry is in the beginning of its development in the MENA region. That is illustrated by the fact that the Middle East FinTech startups received a mere 1% (about $0,4 billion) of all venture capital FinTech investment across the globe in 2018. However, the growth off this low…

Digital transformation could be a game-changer for the African continent, and FinTech is currently one of the main drivers of this technology revolution. The tremendous opportunity for digitally-driven financial services companies lies in the high proportion of unbanked citizens, the immense size and favorable demographics of the African population and the relatively limited state of technology.

Mobile payment solutions allow hundreds of millions of unbanked consumers to benefit from transacting online within their local context. Neobanking systems are designed to give financial companies access to automation, digitalization, and robust security, giving them ample opportunities to grow and innovate.

Addressing the…

Best 5 white-label crypto exchange platforms to kickstart your business.

Setting up a crypto-currency exchange offers enormous business potential in a market where trade in cryptocurrencies is booming globally. However, competition is intensifying as the number of crypto-exchanges multiplies.

Since October last year, the number of exchanges listed on coinmarketcap has increased by 31% to 341 exchanges. This steep increase not only shows the growth in the market for trading platforms but also highlights how important it will be for your platform to stand out so that you become the crypto-currency exchange of choice for crypto-traders.

So how can you get in on the action quickly and set up a…

The coronavirus is expected to fundamentally change the way customers interact with their banks, retailers and other service providers — and fintech businesses, which were built to operate in a fast-moving, digital-first economy, are particularly well-placed to meet their demands through the crisis and beyond.

Since the onset of the virus, businesses have had to grapple with how to protect their staff and customers from infection, which has meant, to a large degree, facilitating remote working arrangements and digital customer service delivery. …

Retailers are increasingly turning Mobile Point of Sale (mPOS) devices to secure payment because of the convenience, cost effectiveness and flexibility they offer. In fact, the mPOS market is reportedly growing faster than the traditional POS industry and, according to some estimates, could comprise some 25% of the overall market within the next three years.

mPOS devices that either connected to mobile devices by wifi, including smartphones and tablets, that smaller retailers and other businesses that want to take advantage of the portable nature of these payment devices are eagerly embracing.

Retailers can use their mPOS devices to process credit…

Velmie

End-To-End Mobile Wallet Solutions.

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