Embedded Finance Market Value To Exceed $138 Billion In 2026

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Embedded Finance Market Value To Exceed $138 Billion In 2026

…As APIs Intensify Fintech Competitive Landscape

A new study from Juniper Research has found that the value of the embedded finance market will exceed $138 billion in 2026, from just $43 billion in 2021.

Embedded finance occurs when financial services are embedded within non-traditional financial services areas, such as banking services within a ridesharing app, or insurance services within an eCommerce checkout process.

The market value includes insurance premiums, transaction revenue, and licensing costs.

The research identified that this extraordinary growth of over 215% will be driven by the increasing availability of APIs from financial services vendors. It predicts that the easy integration of these APIs will lower the barriers to entry for financial services and create a significant new revenue opportunity for providers of embedded finance.

Buy Now Pay Later Leading Market Value

The new research, Embedded Finance: Key Trends, Segment Opportunities & Market Forecasts 2021-2026, found that revenue from buy now pay later services, which embed lending seamlessly in the eCommerce checkout process, will account for just over 50% of the embedded finance market in 2026.

Research author Nick Maynard explains: ‘Embedded lending at point of sale is a massive opportunity for leaders such as Klarna or Afterpay, but it is also an opportunity for banks. As open APIs proliferate, we expect banks to take a significant interest in the market; leveraging their existing user relationships and trusted brands to create compelling propositions.’

Embedded Insurance Represents Compelling New Distribution Mode

The research also found that embedded insurance holds promise as a compelling way to boost the uptake of insurance for high-value products with eCommerce users. The research identified that by bringing insurance directly into the checkout process and pairing it with the individual high-value item, product insurance becomes a compelling proposition.

The research found that this integration and greater use by high-end eCommerce retailers will see global embedded insurance premiums grow to over $10 billion in 2026, from just $3.8 billion in 2021.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Chapel Hill Wins Africa’s Best Bank For Advisory At Euromoney Awards

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Chapel Hill Wins Africa’s Best Bank For Advisory At Euromoney Awards

Chapel Hill Denham has been awarded “Africa’s Best Bank for Advisory” for the fourth time by Euromoney, a world-renowned financial publication.

The award was announced on Wednesday in London. Euromoney’s “Awards for Excellence” have been held for almost 30 years and are considered the most prominent awards for the financial industry, recognizing institutions and people in 100 countries that demonstrate leadership, innovation, experience, and exceptional service.

In recognizing Chapel Hill Denham’s achievements, Euromoney said:

“Chapel Hill Denham has become Nigeria’s preeminent independent investment bank. It’s leadership is most evident on the advisory side, where it’s the go-to house in Africa’s biggest economy.”

While receiving the award, Bolaji Balogun, Chapel Hill Denham’s CEO said:

“We are delighted to have won Africa’s Best Bank for Advisory for the fourth time in five years. This affirms our consistency in delivering results, notwithstanding a challenging period in the markets. I wish to thank all of our clients and stakeholders, as well as the Euromoney Awards for Excellence for continuing to recognize our work, bringing innovative solutions to areas accretive to Nigeria and Africa’s economic development.”

Ipsos Appoints Nathalie Roos as Chief Executive Officer

Esan Bolaji
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Ipsos Appoints Nathalie Roos as Chief Executive Officer

July 19, 2021 – Ipsos announces the appointment of Nathalie Roos as Chief Executive Officer. The recruitment of Nathalie Roos is the culmination of a rigorous selection process carried out since mid-2019 by the Nomination and Remuneration Committee and the Board of Directors of Ipsos with a view to separating the functions of Chairman and Chief Executive Officer.

Mr. Didier Truchot, the Company’s founder, will be Chairman of the Board of Directors of Ipsos SA, while Nathalie Roos will be Chief Executive Officer. Ipsos is the third-largest market research company globally, operating in 90 markets and employing over 17,000 people.

Prior to this appointment, Nathalie Roos was recruited in October 2012 by L’Oréal as Chief Executive Officer of L’Oréal in Germany. She accelerated its growth by engaging its teams and customers around a people-centred vision and by advocating collaborative dynamics.

Nathalie Roos Ipsos
Nathalie Roos | Brand Spur Nigeria

The Board of Directors of Ipsos will convene a General Shareholders’ Meeting on September 21, 2021, to approve the new compensation policy for the Chief Executive Officer. The Board of Directors will then take note of the votes of the General Meeting in order to formally confirm the offices of the Chairman and the Chief Executive Officer, with effect from September 28, 2021.

The Ipsos group is one of the world leaders in market research and opinion polls, with a presence in more than 90 countries. Ipsos SA, whose shares are listed on the Euronext Paris regulated market is the Group’s parent company.

According to Didier Truchot:

“Ipsos’ strength has been its focus on the information needs of its customers. The Board of Directors chose Nathalie Roos because she has built a rich international career at the highest levels of corporate clients. She has demonstrated a great capacity to listen to all stakeholders and has achieved strong economic performance in all her responsibilities.

Nathalie Roos and the Ipsos teams will enable the group to accelerate its transformation and assert its place as an irreplaceable source of credible and clear information on Society, markets and people.”

Nathalie Roos stated:

“I am impressed by the extraordinary performance of the Ipsos teams and by the leadership that Didier Truchot has been able to build and maintain since its foundation. Ipsos is a French treasure that supports management teams in over 90 countries.

In all my executive responsibilities, market research has been instrumental in making strategic decisions that have improved managerial and employee commitment, client performance and economic results. I am convinced that the power of artificial intelligence and the cloud, combined with the unique expertise of the Ipsos teams, will enable us to reach new levels.”

Biographical details:

Nathalie Roos, born in 1965, married, 3 children, is a graduate of Neoma Business School. She began her career in 1987 with the Kraft Foods Group. She joined the Mars Group in 1989 and became Managing Director of Mars Chocolat France, then-President Europe.

In April 2016, Nathalie Roos was appointed Managing Director of the Professional Products Division and joined the Executive Committee of the L’Oréal group. Faced with the digital challenge that is profoundly transforming the professional market, she initiated a complete transformation of the Division, its strategy and its working methods, which is reflected in the best growth performance of the last 20 years. She left the L’Oréal group in March 2021.

Ayo Animashaun Launches Walk For Life (Photos)

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Ayo Animashaun Launches Walk For Life (Photos)

On Saturday, June 26, 2021, Ayo Animashaun, entrepreneur and owner of Nigeria’s number one urban culture station Hip TV, launched ‘Walk For Life’, a 10km/90 minutes fitness walk. He was joined by entertainers, executives and general fitness enthusiasts in Lagos Nigeria, to take the initiative’s first fitness drive.

Walk For Life is tailored for busy high profile personalities, top entrepreneurs, corporate, media and entertainment executives, whose schedules are constantly packed, and do not take the time to catch a break. The Walk aims to encourage fitness and a healthy lifestyle, which ultimately leads to more productivity and serenity of the mind.

Ayo Animashaun Launches Walk For Life
Funke Akindele, getting warmed up for Walk For Life | www.brandspurng.com

Some of Ayo Animashaun’s friends who joined him on the rainy Saturday morning include entertainment personalities like, Funke Akindele, Adebola Williams, Ali Baba, Ramsey Nouah, Bovi, Nancy Isime, Daddy Showkey, Zaaki Azzay, Charly Boy, and Kate Henshaw, to name a few.

Ayo Animashaun Launches Walk For Life
Nancy Isime and Ayo Animashaun at the Walk For Life | www.brandspurng.com

Top executives at the fitness drive include:

  • Steve Ayorinde, Former Commissioner of Tourism, Lagos State;
  • Amaechi Michael Okobi, Group Head, Communications & External Affairs, Access Bank;
  • Emanuel Oriakhi, Marketing Director, Nigerian Breweries Plc.;
  • Adeyinka Adebayo, Executive Director, mediaReach OMD and
  • Amaju Melvin Pinnick, President, Nigerian Football Federation (NFF), amongst others.

Speaking at the event, Ayo Animashaun said, 

“I started Walk For Life to inspire people. I’ve been a fitness enthusiast for as long as I can remember. You will either find me running, jogging or playing squash. It’s important as humans that we find time in our busy schedule to keep fit, because if we want to get the best out of our body, we need to give the best to our body.”

Ayo Animashaun Launches Walk For Life
Zakky Azzay and Ramsey Nouah at Walk For Life | www.brandspurng.com

The Walk For Life recorded almost a hundred excited participants who received fitness certificates as part of their participation and was done in partnership with the Lagos State Government, GAC Motor, Power Oil, So Fresh, Verve, Amstel Malta Ultra, Aquafina Water with HipTV, TVC, ARISE News, AIT and SuperSport as media partners.

Ayo Animashaun Launches Walk For Life
Ali Baba at the Walk For Life | www.brandspurng.com

Photo News: Goldberg Announces Multi-Year Contract Extension with Odunlade Adekola

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Photo News: Goldberg Announces Multi-Year Contract Extension with Odunlade Adekola

Nollywood actor Odunlade Adekola has recently renewed a three-year contract with pioneer brewing company, Nigerian Brewery, under its top-performing brand Goldberg Lager Beer. 

Goldberg was acquired by Nigerian Breweries in 2011, reformulated, repackaged and relaunched in 2012. Goldberg became the ‘godfather’ of lager beers in 2016, commanding a top market share. Goldberg is however returning stronger this year with its new look unveiled at the finale of the talent hunt show, Ariya Repete.

Please see the images below:

Goldberg Odunlade
L-R: Brand Manager, Goldberg Lager Beer, Oluyemi Ekundayo; Brand Ambassador, Goldberg Lager Beer, Odunlade Adekola; Brand Ambassador, Goldberg Lager Beer, Debo Adebayo (Mr. Macaroni); Portfolio Manager, Mainstream Brands, Nigerian Breweries Plc, Kehinde Kadiri; Senior Brand Manager, Goldberg Lager Beer, Olaoluwa Babalola; During The Extension Of Odunlade’s Contract As Goldberg Brand Ambassador, Last Thursday | www.brandspurng.com
Goldberg Odunlade
L-R: Brand Ambassador, Goldberg Lager Beer, Ayorinde Kehinde Okiki (DJKaywise); Portfolio Manager, Mainstream Brands, Nigerian Breweries Plc, Kehinde Kadiri; Brand Ambassador, Goldberg Lager Beer, Odunlade Adekola, Brand Ambassador, Goldberg Lager Beer, Debo Adebayo (Mr. Macaroni); During The Extension Of Odunlade’s Contract As Goldberg Brand Ambassador, Last Thursday | www.brandspurng,con

Domestic Violence, Forced Marriage, Have Risen in Sudan | UN-Backed Study

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Domestic Violence, Forced Marriage, Have Risen in Sudan | UN-Backed Study

Deteriorating economic conditions since 2020 and the COVID-19 pandemic has fuelled an increase in domestic violence and forced marriage in Sudan, a UN-backed study has revealed

July 20, 2021 – Voices from Sudan 2020, published this week, is the first-ever nationwide qualitative assessment of gender-based violence (GBV) in the country, where a transitional government is now in its second year.

Addressing the issue is a critical priority, according to the UN Population Fund (UNFPA) and the Government’s Combating Violence against Women Unit (CVAW), co-authors of the report.

“The current context of increased openness by the Government of Sudan, and dynamism by civil society, open opportunities for significant gains in advancing women’s safety and rights,” they said.

Domestic Violence
A nine-year-old girl pushes a wheelbarrow loaded with water-filled jerrycans in a IDP camp in Darfur, Sudan. Source: UN News | Brand Spur Nigeria

Physical violence at home

The report aims to complement existing methods of gathering data and analysis by ensuring that the views, experiences and priorities of women and girls, are understood and addressed.

Researchers found that communities perceive domestic and sexual violence as the most common GBV issues.

Key concerns include physical violence in the home, committed by husbands against wives, and by brothers against sisters, as well as movement restrictions to which women and girls have been subjected.

Another concern is sexual violence, especially against women working in informal jobs, but also refugee and displaced women when moving outside camps, people with disabilities, and children in Qur’anic schools.

Pressure to comply

Forced marriage is also “prominent”, according to the report. Most of these unions are arranged between members of the same tribe, or relatives, without the girl’s consent or knowledge.

Meanwhile, Female Genital Mutilation (FGM) remains widespread in Sudan, with varying differences based on geographic location and tribal affiliation.  Although knowledge about the illegality and harmfulness of the practice has reached the community level, child marriage and FGM are not perceived as key concerns.

Women’s access to resources is also severely restricted.  Men control financial resources, and boys are favoured for access to opportunities, especially education. Verbal and psychological pressure to comply with existing gender norms and roles is widespread, leading in some cases to suicide.

The deteriorating economic situation since 2020, and COVID-19, have increased violence, especially domestic violence and forced marriage, the report said. Harassment in queues for essential supplies such as bread and fuel has also been reported.

Data dramatically lacking

Sudan continues to move along a path to democracy following the April 2019 overthrow of President Omar Al-Bashir who had been in power for 30 years.

Openly discussing GBV “has not been possible for the last three decades”, according to the report.

“GBV data is dramatically lacking, with no nationwide assessment done for the past 30 years, and a general lack of availability of qualitative and quantitative data,” the authors said.

To carry out the assessment, some 215 focus group discussions were held with communities: 21 with GBV experts, as well as a review of existing studies and assessments.

The research was conducted between August and November 2020, encompassing 60 locations and camps, and the data was scanned through software for qualitative analysis, followed a model first used in Syria.

Access Bank Wins Africa’s Best Digital Bank at Euromoney Awards

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Access Bank Wins Africa’s Best Digital Bank at Euromoney Awards

Access Bank has been awarded “Africa’s Best Digital Bank” by Euromoney, a world-renowned financial publication. Euromoney’s “Awards for Excellence” have been held for almost 30 years and are considered the most prominent awards for the financial industry, recognising institutions and people in 100 countries that demonstrate leadership, innovation, experience and exceptional service.

According to Euromoney, “Access Bank sets the digital agenda for banking in Africa. It has been a long journey to this award, a process accelerated by the 2019-approved merger with Diamond Bank, but it has been worth it The Lagos-headquartered bank compares itself, not to its regional peers, Dut to the best internationally, such as the UK’s Monzo. At the end of March 2021, it had 9.8 million digital customers and reckons it is adding 500,000 new users each month.”

Access Bank gets CBN's nod to convert to Holding company
Herbert Wigwe, MD/CEO of Access Bank plc.

At the heart of the bank’s digital hive mind is Africa Fintech Foundry (AFF), an accelerator founded by Access Bank that finds and funds innovation across the continent. Each year, under the leadership of chief executive Herbert Wigwe, the bank explores new ways to put its digital offering at the heart of the customer’s workflow.

Access More, an umbrella application that includes near-instant international transfers and a new e-commerce marketplace, went live in March 2020. It then unveiled FacePay, a facial recognition-based payments system underpinned by artificial intelligence, which is, Access Bank reckons, the first of its kind in Africa.

When Covid struck, its digital platform helped Access Bank to pull further ahead of the field. Its international payments service, AccessAfrica, processed $188 million in transactions in 2020, against $43 million a year earlier. More than 70% of all new customers are now onboarded Herben Wigwe. Photo. Kelechi Amadi Obi fully digitally, numbers that explain why so many now choose Access Bank over a domestic rival.

Access Bank made N102.30bn Profit After Tax in Q3-2020

In 2018, Access Bank set out plans to have 35 million customers in five years. Daniel Awe, head of the AFF, reckons the bank has now passed the 45 million mark, of which 10 million are purely digital customers.

Perhaps the best thing about the 2019-completed merger was that it created a lender that was more than the sum of its collective parts. Going forward, Access Bank aims to continue to innovate digitally and to make its customers’ lives better. It’s already a considerable legacy.

Africa’s Best Bank: Guaranty Trust Dominates at Euromoney’s Awards for Excellence 2021

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Africa’s Best Bank: Guaranty Trust Dominates at Euromoney’s Awards for Excellence 2021

Africa’s leading financial services institution, Guaranty Trust, has been named Africa’s Best Bank 2021 by Euromoney, the premier information authority on global finance. Guaranty Trust Bank was also recognized as Nigeria’s Best Bank for a record 11th time.

“Not the biggest but the most profitable. That’s the strategy of Guaranty Trust Bank,” said Euromoney, following the announcement. “With a return on average equity of 28.5% in 2020, [Guaranty Trust Bank] is clearly achieving among its banking competitors in its home country Nigeria and also across Africa,” the global financial publication added.

Euromoney’s Awards for Excellence recognizes financial institutions that demonstrate leadership, innovation, and momentum in the markets they operate. With the 2021 Excellence award, Guaranty Trust has now been named Africa’s Best bank twice in three years, reflecting its leading position as one of the best managed financial institutions on the continent.

Guaranty Trust Bank sort codes GTBank Plans Kenyan Acquisition Brandspurng
Photographer: Issouf Sanogo/AFP/Getty Images

The Euromoney award is the latest recognition for Guaranty Trust, having recently retained its position as Africa’s most admired financial services brand in the 2021 ranking of The Brand Africa 100: Africa’s Best Brands.

Commenting on the award, Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust said,

“Being recognized as Africa’s Best Bank and the Best Bank in Nigeria speaks to our commitment to delivering on our promise of creating new and innovative financial solutions that make life easier for our customers and generate the returns our shareholders expect.”

He further stated that,

“The biggest winners continue to be our customers and shareholders and our top priority will always be creating value for them. With our transition to a holding company structure, we will be extending our banking excellence to new growth areas wherein we can help our customers achieve the full breadth of their financial goals whilst realizing the full value inherent in our group.”

Prior to its corporate reorganization to Guaranty Trust Holding Company Plc, Guaranty Trust Bank Plc has been at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders.

It is widely regarded as the best managed financial institution in Nigeria and has, over the past decade, embarked on a period of unparalleled growth, growing its customer base from less than 3 million customers in 2011 to over 24million customers in 2020, and profit before tax from ₦45.5 billion at the end of the 2010 financial year to ₦238.1billion at the end of the 2020 financial year.

Increasing Cybersecurity Threats in 2021

Esan Bolaji
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Increasing Cybersecurity Threats in 2021

With global cybercrime growing exponentially, business and private users all need to protect themselves against these real threats. Here we have outlined some of the increasing Cybersecurity threats in Nigeria and how to protect yourself.

Phishing Scams

Phishing is now one of the most prevalent forms of cybersecurity attacks. Phishing is when a hacker attempts to trick someone into providing personal and sensitive information and downloading malware. Phishing has become incredibly prevalent due to the increasing use of all forms of electronic communication. Hackers take advantage of forms of communication that everyone uses daily, instant messaging, social media accounts, texts, emails etc.

Possibly the most common form of phishing scam is attempted through email. An email is created to look like an official body such as the local government or bank; you are then asked to fill in personal information to access the side. The best defence against this type of cybersecurity attack is awareness of the signs of a possible attack. For example, usually, the request for sensitive information is unusual, and incorrect grammar and language are often used. It is essential to educate yourself, or your staff on how to identify phishing, and of course, installing antivirus software is critical.

Increasing Cybersecurity Threats in 2021
Image by Arthur Bowers from Pixabay

Auto Redirects

With auto redirects or URL redirection, the attacker will get a user to unknowingly redirect to a malicious website. In some cases, you are redirected to a website that looks like your intended URL or by having the user click on a link. The attacker will use this method to download malware to the victim’s computer or other device and steal data. Another method of redirection is when a user receives an urgent message or pop-up saying you have won something, or that your device is infected with a virus or malware.

Unfortunately, we are all vulnerable to this method of attack, and, in the last few years, high-profile attacks have been on the rise, with around 95% of auto-redirects leading to scams. Fortunately, it is now possible to protect against and prevent auto-redirect ads. Cutting-edge technology means a user can monitor and block known issues and detect and block threats in real-time. These technologies mean you can block and eliminate malicious ads and exclude inappropriate ad content.

Increasing Cybersecurity Threats in 2021
Image by Gerd Altmann | Pixabay

Deepfakes

Deepfakes is a type of AI and comes from deep learning technology. This technology can be used to swap out faces in videos and other digital content. It means that an image can be manipulated to show a person involved in an activity that did not happen. Deepfakes pose a cybersecurity threat as they can be used to commit identity fraud. Despite the fact that deepfakes are becoming more advanced and realistic, it is also becoming possible to protect against these AI technologies.

Companies have been creating new technologies and algorithms that can compare deepfakes with authentic videos with a digital fingerprint, which means it’s possible to protect against the threat of deepfakes.

Cyberattacks, threats, and criminals have become more sophisticated in their approach. Fortunately, simple steps and technologies are being developed to protect you and your business from such attacks.

Geely Automobile Sales Volume For H1 2021 Reach 630,237 Units; Up 19%

Oreoluwa Aderinkomi
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Geely Automobile Sales Volume For H1 2021 Reach 630,237 Units; Up 19%

Geely Automobile Holding Limited announced that the total sales volume of the Group (including the sales volume of LYNK & CO-branded vehicles sold by the Group’s 50%-owned joint venture) for the month of June 2021 was 100,163 units, a decrease of approximately 9% from the same period last year, but up approximately 4% from May 2021.

Of the total sales volume in June 2021, 7,515 units were new energy and electrified vehicles. Geely’s exports volume was up approximately 71% year-on-year to 7,043 units in the month of June 2021. During the month of June 2021, the Group’s total sales volume in the China market was 93,120 units, a decrease of around 12% from the same period last year.

Geely Automobile

The total sales volume in the first half of 2021 was 630,237 units, an increase of approximately 19% from the same period last year, achieving 41% of the Group’s full-year sales volume target of 1,530,000 units in 2021.

During the month of June 2021, the total sales volumes of sedans, sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs) were 30,907 units, 67,960 units and 1,296 units, respectively.

During the same period, the total sales volume of LYNK & CO-branded vehicles was 17,077 units, up around 29% year-on-year.

Geely Automobile

During the month of June 2021, the shipping volume of the Group’s exports of LYNK & CO-branded vehicles to the European market was 650 units, and the total shipment volume in the first half of 2021 was 3,646 units.

In addition to the sales volume disclosed above, LYNK & CO JV started to deliver vehicles to its customers in the European market under its innovative subscription model in the month of June 2021, during which a total of 231 units of vehicles were delivered to its subscription customers.

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