Question

Financial technology, also known as FinTech is an industry composed of companies that use new technology and innovation with available resources in order to compete in the marketplace of traditional financial institutions and intermediaries in the delivery of financial services.

The use of mobile apps is embedded in the average Mauritian’s everyday life while the country already provides services such digital insurance, mobile banking amongst others.

Several enterprises, particularly those aiming towards Africa, are already using Mauritius as a viable Fintech platform. The stable business climate and well-established corporate governance culture in Mauritius, favorable time zone, excellent connectivity and highly-educated labour, mitigates the high-risk profile of certain African countries.

Question :

Select a local company of your choice which provides FinTech services and Explain the services provided by the chosen company & justify why the provided services   falls under the FinTech umbrella of technologies.

(Answer should be preferable of a bankinf sector in Mauritius - 2000 words)

Answer 1

Ans.

Name of comapny : Infomil (Mauritius) Limited

Services provided :

1. Digital commerce

2. digital signage

3. Big data analystics

4. Infrastructure

5. Professional mobility

6.Front office

7. back office

Digital commerce

New mobile terminals, smartphones and tablets, are occupying an increasingly important place in the consumer's purchasing journey and revolutionizing the traditional commercial relationship. Cross-channel trade has become essential in the strategies of retail chains. The latter face an increasingly frequent phenomenon: consumption is done anywhere, anytime and from any medium (Any Where, Any Time, Any Device). Infomil is committed to this approach through the development of websites and mobile applications , intended to unify the purchasing journey of E.Leclerc connected consumers.

Digital signage

Electronic labeling is a major asset for brands and consumers. This is the assurance of displaying clear, legible and fair information on prices and promotions on the shelves. Electag, the solution developed by Infomil, is connected by radio frequency to the stores' information system in order to guarantee, in real time, the updating of the display on the shelves.

Big data analytics

The Big Data is now an opportunity. With the explosion of the offer, the multiplication of brands and distribution channels, the data are a wealth and represent a lever for growth and competitiveness.
Qualitative use of these makes it possible to anticipate customer behavior, preferences and needs in order to better predict their future purchases.

Infrastructure

At the heart of the Information system
To meet the requirements of digitalization, E.Leclerc stores must be equipped with an information system based on a secure, robust and scalable infrastructure. To guarantee optimized operational efficiency, we deploy hyperconverged solutions , combining virtualization and high availability, adjusted to the needs of each of their trades.

Professional mobility

Today, mass retail chains are more than ever faced with problems linked to the competitive intensity of the sector. Mobile terminal solutions are, in this context, real drivers of performance and savings. Infomil develops professional mobility tools , simple and at low cost, to meet the requirements of E.Leclerc centers:

• Improve the quality of service and offer constant customer service all year round
• Equip employees with appropriate tools to facilitate their daily work

Front office

Front office management solution, Evolutel manages all of the tools in interface with the store client: cash register, integrated electronic payment, financial flows, interbank communications in real or deferred time, loyalty, digital display ...
This software enables in place strategies geared towards customer satisfaction, through the implementation of high-performance technologies grouped into several themes:

Back office

Abaco, our back office solution specific to the E.Leclerc movement, covers all of the commercial management needs of all the departments of hypermarkets (grocery, beverage, drugstore, perfumery, fresh products, toys, bazaar, ...) and concepts (cultural space, DIY space, garden center, car center, sports space, ...). With mobility being at the center of our concerns, we also design management interfaces, available on tablets, allowing each of our customers to consult their results and compare them to stores in their region.