Displaying items by tag: FinTech

In a competitive setup, by definition, many firms contend for a limited market share. In the financial sector, in particular, competition greatly affects consumers’ wealth and financial soundness of banks (Bikker and Bos, 2005). The competition also affects the quality and diversity of products and productive efficiency of financial institutions (Claessens and Laeven, 2005). In the globalized microfinance industry, where competition has become increasingly severe, especially among the MFIs in Tanzania and East Africa at large.

Technology is an important driver in the maturing microfinance industry. Microfinance providers, microfinance institutions (MFIs) of all tiers, provide financial services to the poor that are critical for eradicating poverty and promoting economic development in developing nations.

Tanzania has recently announced its National Budget of the financial year 2020/21 with which it touches many areas whereas the financial sector is not an exception of the course. The budget that gives and shows the roadmap of the financial sector in the financial year 2020/21.

Loan management software is a cloud based end to end lending application used to improve the quality, turnaround time and service for end-customers. It enables banks to improve the agility, transparency and efficiency of their lending solutions whereas, Loan management system means an innovative, turn-key, end-to-end securities-based lending platform that connects lenders seeking high-quality, collateralized loans with borrowers requiring convenient access to credit.