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Exploring Effective Ways How Finance Companies Can Win Using Big Data

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The incredible data proliferation and the ever-increasing technological complications are continuing to radically change the way industries particularly the banking and financial sector, function and compete. During the last few years, around 90% of the global data has been generated because 2.5 quintillion bytes of solid data were created per day. Referred commonly as big data, we understand that this speedy growth and storage comes up with major opportunities for collection, analysis, and processing of both unstructured and structured data. If you want to learn more about Big Data, then you can learn from intellipaat, who provides online certification course on latest technologies like big data, data science courses, artificial intelligence.

Big data technology is today, an integral part of the banking and financial services industry and is all set to drive innovation in the years to come. Today, the tech-savvy financial companies are leveraging Big Data for:

  • Generating new revenue streams via data-driven offers like personalized recommendations.
  • Becoming far more proficient for competing with cutting-edge Fintech organizations that use state-of-the-art technology for providing customers with advanced financial and banking services.
  • Providing much-improved services to consumers like fortified security.

In the current data-oriented business environment data insights and data analytics play a pivotal role and are utilized in almost all decision-making processes that involve the future of the organization. This is particularly, true in case of the finance industry. According to financial experts, the most intriguing trend would be financial companies and banks are able to completely leverage the power of Big Data while adhering strictly to security standards and compliance requirements.

As per https://www.techfunnel.com, several organizations in the financial sector are already taking proactive measures for making the most of the Big Data they are holding and effectively enhancing their overall services.

The big data application in the banking and financial sector would be opening up numerous avenues and opportunities for boosting the efficacy and productivity of financial services. To fully utilize big data, finance companies are focusing their attention on taking three major steps as discussed below.

Define Clearly a Specific Data Stratagem & Align Effectively with Business Objectives

Even though several organizations strive relentlessly to be data-driven, some of them do not succeed in their mission. The reason why most of these companies are literally struggling to manage big data is simply because they are more into short-term results. They fail to manage big data strategically instead; they are focusing on one-off projects.

Financial companies must necessarily use data for accomplishing not only singular objectives but also for achieving broader business objectives and goals. Businesses could create a comprehensive stratagem spanning across all the departments within the organization including their business partners for fullest utilization of data.

Choose a Scalable, Flexible, and Secure Data Platform

Irrespective of the type of platform an organization is using, it is necessary to choose a scalable, flexible, and secure data platform. Experts feel that scalable and flexible data platforms would be facilitating organizations in collecting and storing the amount of data required while data processing in real-time. Security implies factors such as role-based access that would help in ensuring that invaluable information does not go to the wrong people and this would further ensure that companies are able to constantly monitor data usage on specifically a granular level.

Begin with a Single Business Issue & Go on Expanding on It

Some American multinational financial companies started leveraging effectively the power and versatility of big data, firstly, to boost and enhance fraud detection. When they were successful in their mission, they got involved in some other data-driven endeavors. Companies have been using big data to solve a specific business issue and once they could solve the crisis, they went on expanding on that particular solution to addressing other business problems. It is clearly evident that Big Data is an integral part of the current financial services industry and ultimately the success of all these financial organizations would be evaluated according to their efficiency in harnessing the power and versatility of big data in a brilliant way. Let us explore some other aspects where experts believe that big data analytics could certainly add value to.

Enhance Financial Methods

Financial institutions like banks, trading concerns, and lending institutions are known to generate a huge amount of data on a daily basis. They must depend on data handling applications and programs. These financial institutions are generally known to have several diverse business models since they provide a plethora of services. All data trends and data should be considered for creating actionable strategies and competent working models.

Much-Improved Data Processing & Better Storage

Banks and financial institutions have collected a massive amount of data. With a boost in data usage and rapid digitalization in practically every decision-making facet, the database created by these companies is bound to go on increasing exponentially. As such, big data would be using algorithms and codes for processing continuously humongous volumes of data and for managing the shared servers or data clouds.

Machine Learning Reaps More Returns

Financial organizations and banks interact every day with customers. This information seems to be important for coming up with seamless customer experience and also, for obtaining valuable insights. Most of these organizations have already integrated machine learning and artificial intelligence for facilitating services and enhancing fraud detection measures. Fraud detection is certainly an important field where big data has proved to be immensely beneficial.

Effective Credit Scoring

One major responsibility of lending institutions such as https://www.libertylending.com/ is to effectively calculate an accurate credit score, taking into account all the parameters and data to the extent possible. We know that credit scoring is a hugely sensitive activity that could be impacting business credibility and the overall corporate reputation and image.  As such, financial institutions use an effective combination of big data analytics and business intelligence software for accurately calculating the credit score.

Blockchain Technology

Blockchain technology is gaining momentum and is currently pretty much in vogue thanks to the cybersecurity threats, data compliance, and GDPR measures. This seems to be having a fantastic application in terms of big data because a blockchain network stores data in ledgers that are distributed, as well as, saved on the participating bank’s servers. As the information seems to be distributed among different banking platforms, blockchain networks are practically impregnable against hacking. Experts point out that the bigger the network; the blockchain would be more secure.

Effective Customer Segmentation

Banks have switched over from a business-centric model to purely a customer-centric model in 2019. For facilitating such a switchover, it is essential for banks to effectively perform customer segmentation for coming up with much-improved and more effective financial or banking solutions to their esteemed customers. We understand that big data plays a pivotal role in aiding the banks in such a process by segmenting consumers effectively on the very basis of real-time and historical data hence, hastening and easing the process.

Boost in Customer Acquisition

Big data would be considering both real-time and historical data for segmenting customers. When the proper segmentation is over, you could profile the specific type of customers most probably would be requiring your services. You would thereafter, simply require creating your marketing stratagems aimed towards acquiring more customers.

Conclusion

Today financial organizations are utilizing big data for easily running their marketing programs. This would be effectively generating more leads and also, conversions. Companies could create a massive customer base and assist in generating effective customer loyalty programs and customer retention. The financial industry seems to be gradually changing itself and becoming a Fintech industry. We understand that big data analytics is acting as the catalyst to speed up the transformation. Today an increasing number of financial organizations are depending on big data analytics for carrying out a perfect visual representation of crucial data for bolstering growth and expansion.

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Adobe Features Michael Aboya’s Photo On Lightroom’s Splash Screen

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Ghanaian fine-art and fashion photographer, Michael Aboya’s  work has been used as the Splash Screen on the latest Adobe Photoshop Lightroom Classic.

 

What this means is, anywhere around the world when someone opens their Lightroom Classic software, they are welcomed first with Michael’s photo.

 

Considering the fact that Lightroom ranks as the world’s 2nd best photo editing software after Photoshop (also by Adobe), this is such a HUGE feat.

Adobe Lightroom is a creative image organization and image manipulation software developed by Adobe Inc. as part of the Creative Cloud subscription family. It is supported on Windows, macOS, iOS, Android, and tvOS. Lightroom also gives you everything you need to create, edit, organize, store, and share your photos across any device.

 

Truth is, every photographer in the world has either used or heard of Lightroom hence this achievement exposes not only Michael, but Ghana to the entire creative universe especially in Photography.

 

Michael Aboya also known as Aboya.8, is a fine-art and fashion photographer based in Ghana West Africa whose passion for arts and photography became real at age 19 when he lost his father to cancer in August 2016.

 

He stopped studying computer programming at the time and used the little savings and funds he had to buy a Canon T3 camera with a Canon EF 70mm – 300mm lens. In early 2017, he started working as a full-time photographer, dedicated to learning and very importantly becoming a better version of himself.

 

Today, as a visual artist working with photography, Michael’s purpose is to tell stories that inspire, empower and connect with the viewer. His images explore emotions, love and strength through composition, lighting, and subject matter.

 

Setting international records for Ghana seem to be a specialty for Michael as last year, he won the Best portrait photography 2020, by Agora Images in Spain, Barcelona. He was also adjudged the Author Of the best photograph in the world 2019 with his image dubbed “Songs OF Freedom” – Agora Awards 2019 in Spain, Barcelona.

 

In 2018 Michael swept Best eyes photography award, Best sound photography award, and Best horse rider Photography award.

 

Mr Aboya is currently an Adobe Lightroom Ambassador and has featured and partnered with the likes of BBC, SONY, Forbes, Adobe, Agora Images, NEWSDAY, to mention but a few.

 

See more of his works on Instagram via @aboya.8, or visit his website https://aboya8.com

 

 

See Michael’s work under Adobe Photoshop Lightroom Classic as published by Adobe here: https://www.behance.net/gallery/130005823/2022-Creative-Cloud-Splash-Screens?tracking_source=search_projects_recommended|Adobe Splash Screen

 

 

By: Cwesi Ofori

juliusboadu@gmail.com

 

 

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Takoradi creatives showcase their prowess during the Guinness Bright House Experience

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After a successful launch in Accra, Kumasi and Tamale, the Guinness Bright House Experience finally made its stop in Takoradi much to the delight of ‘Tadi’ creatives and revelers.

The Guinness Bright House Experience is a model bar and a fundamental part of the Guinness Black Shines Brightest campaign and it serves as a cultural space and a hub for people to connect and energize each other with creativity, inspiration and, of course, a cold bottle of Guinness.

In Takoradi, the Bright House Experience started off with a fashion show where young and talented fashion designers across the Western Region showcased what makes them shine bright through a stunning display of amazingly creative designs.

Before Vanilla, a fast-rising vocalist and versatile songwriter mounted the stage to dazzle guests with his ‘Sikilite’ hit song, underground musicians in the region came to display their music and rap prowess to the admiration of all. This set the tone for the music aspect of the Bright House Experience.

Fameya and Mr. Drew did not also disappoint as they dropped hit songs after hit songs as guests were seen dancing and singing along most of their songs.

Incredible Zigi showcased why he is indeed the perfect fit as face of the Black Shines Brightest Campaign. He displayed so much creativity and energy with his dance moves. He eventually did his signature removal of shirt and the crowd went berserk with excitement. Incredible Zigi performed with his regional team of Afrozig dancers in Takoradi.

When the main act for the night, the ‘Confession’ hit maker Kofi Kinaata hit the stage, the crowd welcomed him with cheers and excitement, and he proved why he is the real “Fante” rap god by giving fans a performance to remember. Kofi Kinaata indeed ensured that guests left the event with a full appreciation of what ‘Black Shines Brightest’ truly means.

Before the Bright House Experience was the Guinness Creative Master Class in partnership with 3 Music Network where Michael Amofa (Incredible Zigi), Dance Artist, Choreographer, George, Mensah Britton, media personality, talent manager, entertainment pundit and brand, creative serial entrepreneur, Sadiq Abudulia Abu, Chief Executive Officer of 3 Music Network as well as Nana Kofi Asihene, music video director, creative consultant, and film maker and Kinorah Awini, CEO & content Developer at Telande World Studios Limited engaged young and budding creatives in Takoradi with the aim of spurring them to growth.

Guinness ‘Black Shines Brightest’ is a new Pan African campaign celebrating the iconic black liquid enjoyed all over the continent for over a century. This exciting new campaign is inspired by the bold and unique black beer of Guinness stout and brings together passionate and creative individuals to celebrate the spirit of Guinness and its home across African markets.

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itel Launches itel S17, itel Spirit 1 Laptop, Cinema TV Projector and Other New Products in Exclusive Online Launch in Ghana

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itel, the global premium mobile phone and accessories brand, continues to prioritize giving its customers control, functionality, fun and value. In keeping to that tradition, the brand has added a line of new and exciting products to its fleet; the iconic itel S17 smartphone, the itel Cinema TV H1 Pro, the Spirit 1 Laptop and the itel Wireless Neckband N53F. These were announced in an exclusive online launch event held on Friday October 8, 2021.

The highly attended virtual event drew participation from celebrities and top industry leaders across Nigeria and West Africa, with itel brand ambassador Olamide- accompanied by Nollywood star Mercy Johnson-Okojie and celebrity TV host Stephanie Coker- on hand to talk about the sterling qualities of the new products. Starting October 9th, 2021, itel stores and authorised outlets will have their shelves filled with these exciting new products as the brand continues to seek easier ways to make life better for all.

itel S17: Specs and Features

A look at the itel S17 smartphone reveals a huge improvement on previous generations of the S series; yet the phone can be purchased at an unmatched price point that target consumers can afford. This gives credence to the International Data Corporation (IDC) report for 2020 which rated itel as the Number One Smartphone and Feature Phone Brand in Africa under $75, a recognition for its affordability and quality.

Tagged Capture Your Smile, the Smile Selfie smartphone is a game-changer, ensuring that you can look your best when you take a selfie with ease. This is supported by an 8MP front camera and a large 6.6-inch HD+ waterproof full screen that produces 3-dimensional, crystal clear images and videos. The battery has also been massively upgraded to 5000mAh, enough for up to 70 hours of music, 30 hours of chat, 7-10 hours of entertainment and 7 hours of selfie. With three rear cameras, taking a photo and recording videos have become more flexible and exciting. These allow more light to come in through the expanded lens, making the view wider and clearer.

Other features include the radial diamond texture that makes the device pleasant to touch and look at; beautiful, sleek exterior design; double safety feature with upgraded fingerprint sensor and face unlock; durable internal and external structures, dust, and moisture resistance and many more. You can simply walk into an authorised store and choose between the multicolor green, sky blue or deep ocean black variants- whatever tickles your fancy.

Breath-taking Cinematic Experience with the itel Cinema TV H1 Projector

Home or office, it doesn’t really matter. Whether you’re warming up on a large couch with family and friends as you enjoy the current episodes of your favourite TV show or presenting a life-changing pitch in the boardroom, this digital TV projector is as good as they come. With 100-inch wide-angled screen dimension, i-Cast support and 2×5 Width double speakers, you’re all set for a wholesome cinematic experience.

itel Smart Watch 1 for all times and seasons

This is another new product offering by itel. At first glance what you see is a truly attractive wristwatch but take a closer look and you’ll see why this wristwatch ranks high on functionality and usability. It is a lifestyle watch with features for sports, health, and entertainment. We can talk about its blood oxygen and heart rate monitors or its 7 sports modes all day long, but not to forget its music and camera control feature, smart notifications, and personalised menu.

It’s Thin, It’s Light, It’s The Itel Spirit 1 Laptop

Processor? Check. Memory? Check. Powerful, fast-charging battery? Check. This new laptop by itel offers you everything you need in a personal computer and so much more. With 1 TB in-built memory, 8GB RAM and Windows 11 operating system, there’s a lot to love about the Spirit 1 laptop beyond the elegant 15.6-inch FHD Screen and its thin, light design. It is also equipped with WiFi 5, allowing routers to engage with up to four devices at a time.

Get Your Groove On With The itel Wireless Neckband N53F

This is a next-generation wireless neckband brought to you by itel. The Wireless sound accessory is compatible with most mobile phones and computers on the market, giving you the crisp sound quality, you deserve. Its iconic magnetic earbuds will stay put in your ears and never fall off. This ergonomic design is further enhanced by a comfortable and stylish Neckband. It features a 10.4mm bass boost driver and is moisture resistant.

Join The Family That Enjoys Better Life

This list of new products embodies the passion and character of itel as it continues to sweep through Africa and the rest of the world with affordable but highly innovative products for the young at heart. Whether it’s the smile-capturing itel S17 smartphone, the cinematic delight of the itel H1 Cinema TV Projector, the unrivalled functionality of the itel Smart Watch 1, the super slim Spirit 1 laptop, or the dynamism of the itel wireless neckband, you too can purchase these products at any itel authorised store near you. Join the itel family and enjoy better life.

The itel-Buy promotion month is ongoing. Buy yourself any of our key itel products and win amazing gifts instantly from any accredited itel shop.

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The Success of Online Gambling Operators During the COVID-19 Pandemic

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The COVID-19 pandemic has changed the world forever. While it appears that the situation is gradually improving, the way that people do things is likely never going to go back to pre-pandemic levels.

 

Countless sectors were negatively impacted by the pandemic. This includes the land-based gambling sector. As casinos and bookmaker shops had to close for extended periods of time, they were going without revenue coming in the door and often had to rely on government support to keep paying workers.

 

However, online gambling operators were the ones to take advantage of this situation, as people were still looking for ways to place sports bets and play their favourite casino games when they could no longer do so in person. This article will look at the impact the pandemic had on the online gambling sector.

 

Closure of Physical Locations

 

As the pandemic started to set in, politicians and health officials realized just how severe this virus was going to be. In the beginning, most people would not have been able to foresee just how long this situation would last.

 

As case numbers of COVID-19 continually increased, public orders were released closing entertainment facilities like casinos, bingo halls, and poker rooms. The people who relied on using these facilities on a regular basis then had to start looking elsewhere to get their bets placed or play their games. The natural solution for these people was online gambling platforms.

 

While a lot of people who frequented the physical facilities already had been using online platforms, there was also a whole new audience exposed to the online space. This bolstered the number of people who were utilizing these platforms across the board, creating a boom in the sector.

 

People also had more time on their hands, as well as often having more disposable income as they were stuck inside their houses doing nothing. Therefore, the spending among certain types of online gamblers increased dramatically during the period.

 

Online Sports Betting

 

For some time towards the beginning of the pandemic, most major sports all across the world were cancelled. There were only very limited sporting events on offer. This led to people betting on anything they possibly could, including table tennis, drone racing, and darts. As a result of the lack of sporting events, online sportsbooks suffered for a while.

 

However, ever since sports returned in a major way, there has been a boom in success for these online operations. People realized just how important sport is in daily life to keep people happy and entertained. This led to a lot of people watching more sport and also placing more bets a lot of the time on these events.

 

Games of Chance and Games of Skill

 

While of course, physical casinos had to close their doors, games of chance and games of skill were still readily available to people through online platforms. As there was a lack of sports betting opportunities for some time, this led to more people turning to popular casino games as these were always going to be available to play. There has been a consistent increase in the number of people playing these games, as well as a resulting increase in profitability for the operators.

 

One of the interesting trends seen was a rise in the number of people playing online slots. However, there was also a drop in the number of spins per average session or for the total gaming sessions that last up to an hour. Therefore, a lower proportion of people were engaging in more slots play than pre-pandemic.

 

There have also been some restrictions brought into place by gambling regulators that have slowed down spin speeds, which could also be having an impact. The aim of these types of restrictions has been to try to better protect problem gamblers by cutting down on the number of spins they can do in the course of a playing session.

 

Players Looking at Other Options

 

One of the other trends seen during the course of the pandemic was casino players looking for fresh opportunities to express themselves. With the gambling regulators constantly putting in place strict rules on gamblers and platforms, people wanted to have a greater sense of freedom.

 

This is why non-GamStop casinos offered sites like non-gamstop-casinos.com have been gaining popularity. These are platforms that are not licensed by the UK Gambling Commission (UKGC), meaning that they do not have to follow the strict rules and regulations of this body. Non-GamStop casinos often give you the chance to get access to a bigger game library, as well as more lucrative offers, and a better collection of payment options.

 

It is important that people are only using these platforms if they are fully in control of their gambling. That is because these casino sites allow people who are self-excluding through GamStop to avoid these blocks and to continue gambling.

 

An Interesting Future

 

The online gambling sector has been in a boom period thanks to the COVID-19 pandemic. While the physical casino sector is looking to get back to pre-pandemic levels, online gambling operators have gone from strength to strength. This trend looks like continuing as more and more people get access to and start using the internet on a daily basis.

 

While restrictions are easing across the world, land-based casino operators will be hoping that the transition over to online platforms is not a permanent one and that people in their large numbers will return to these physical properties when they get the chance to do so.

 

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A Serial Entrepreneurs Guide to Finding and Developing a Business Idea

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Most business ideas have been done repeatedly and, on some occasions, with a great deal of success. Finding and developing a great business idea can feel like an uphill struggle, but it doesn’t need to feel like this, and it does not need to be like this. If you conduct adequate research and if you commit to seeing through one idea, you will find it much easier to develop an idea, harness it, and make it your own. So, when it comes to finding and developing an idea, where do you need to start, and what should you be focusing on first.

Sticking and Committing to One Idea

You may have lots of ideas spinning around in your head, but it is important that you stick and commit to one at a time. Trying to do too much or spreading yourself too thin is not beneficial for anyone. So, before you try and take on more than you can handle, why not put together your list of business ideas and establish which one you will pursue and why. When you commit yourself to one idea, you ensure that you dedicate your time and energy to achieving the results and success you desire. To establish which idea, you need to stick with and commit to, you need to weigh up the pros and cons of each idea you have put forward. It can be so easy and so tempting to just run with the first idea that you write down or take a liking to, but realistically if you dive in too quick, you could end up on the road to failure, and this is, of course, not what you want.

A Beneficial Business Idea

You can still make money in business, even by helping others. Developing a business idea around something that gives back will leave you feeling good, and it will also leave the recipients of the business idea feeling good as well. As a serial entrepreneur, finding or launching an idea that gives back will be both appealing and rewarding. You will be fostering goodwill, and you will be launching and harnessing a positive image for yourself and your brand at the same time. So, what kind of business idea can you introduce that would or could benefit others? For example, you could put together treatment packages for professionals to ensure that they are practicing self-care, such as Self care for nurses or self-care for doctors. Or you could focus on putting together packages that support fellow small business owners. Supporting, helping, and assisting others is commendable and is something that can be worked into a watertight business idea.

Spotting a Gap within the Market

Having an idea that has potential is what every entrepreneur wants and needs, but how do you find an idea with real and true potential? Well, you spot and then exploit a gap in the market, of course. When there is a gap in the market, no matter how small, you can exploit it and turn it from a business idea into a profitable business. When it comes to spotting a gap in the market, you need to begin looking at areas or industries that you are interested in first and foremost. You will not be able to target all marketplaces and industries when looking for an idea that has potential. So, start by targeting areas that are of interest to you because when you are interested and passionate about a market or industry, you are more driven to succeed.

Conducting Market Research

When you have spotted a gap in the market, you then need to start conducting market research. When it comes to carrying out market research, you need to utilize both primary and secondary research to establish if your idea has the potential to make money or not. Investing in the market research may seem unnecessary, but it is crucial, especially in the early stages of business idea development. If you do not invest in market research, how can you confidently be sure that you are investing your time and money into a sound idea?

Seek Support and Assistance

When it comes to getting the right idea, you need to seek support and assistance as and where you can. For example, family members may be able to help you see something you may have overlooked or missed when researching ideas. In addition, you may find that trade bodies or other professionals may be able to provide you with additional figures, research, or statistics that you might not have considered before or had to access to. Do not be afraid to reach out to others for support and assistance because this guidance can help you determine which idea to go with and why. To get the guidance and support you need, you can take advantage of networking as well. Meeting new people and gaining new insights may even help you once again to see, or spot things that you might have missed previously.

Set a Deadline or Timescale

Researching a new idea can take up a lot of your free time. It is important that you establish a deadline and a timescale for researching and creating business ideas and bringing them to fruition, or else you will find that you will be investing a lot of time, effort, and funding and not really getting a lot in return. When you are researching and finding new ideas, you need to give yourself weeks and months, and not years. It is important to remember that you can over-research an idea, and in the process, you can end up wasting time, so establish a deadline as soon as you can to ensure that you can bring the idea to the market before somebody else does. When you have a deadline in place, you ensure that you make your research time count. Wasted time equals wasted money, and missed opportunities, so stay on the ball with your research, and do not go over the top.

 

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Ghanaian-born entrepreneur Samuel Baddoo’s Fleri Inc Joins Techstars

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Samuel Baddoo
Young Ghanaian-born entrepreneur Samuel Baddoo fintech startup, Fleri Inc joins the prestigious Techstars.
Fleri Inc, startup that puts the immigrant financial wellness at the forefront joins the Techstars
Fleri Inc., a personal finance company for immigrants known widely for the FleriHealth product which enables immigrants to buy affordable healthcare plans for their loved ones back home, will join the Techstars Toronto Accelerator Program starting this October.
Techstars is a seed accelerator that runs an intensive mentorship-driven program for founders and early-stage startups and entrepreneurs. Fleri will join 10 other startups in the Techstars Toronto 2021 cohort as it sets its sights on global expansion. The Techstars Toronto Accelerator Program is designed to provide mentorship, funding, and access to its network, beginning with a Demo Day at the end of the guided program. When selected, startups will be able to pitch to a carefully curated group of investors.
Since it launched in 2020, Fleri, which was founded by Ghanaian-born entrepreneur Samuel Baddoo, has kept the immigrant experience at the forefront of its mission. The company focuses on providing solutions and products that uniquely empower immigrants to take control of their financial lives. Knowing that 83% of the time, immigrants will send money to cover a health emergency faced by a dependent relative back home, Fleri released its first product: FleriHealth.
FleriHealth enables immigrants, beginning with those from Africa, to directly sponsor healthcare plans for their loved ones and families back home rather than sending traditional money transfers.
In their pilot year, FleriHealth has enabled more than 220 family members to access quality healthcare in Ghana and Nigeria.
Fleri partnered with five health insurance companies and other healthcare providers in its pilot markets giving the beneficiaries of immigrants access to healthcare benefits such as traditional health insurance coverage and more personalized care options.
The company also provides a concierge care service powered by 400 nurses for families of immigrants from Nigeria.
According to Baddoo, Fleri enhances peace of mind for immigrants, given the knowledge that their loved ones have healthcare coverage around the clock and by eliminating most of the fees and transaction costs paid through traditional money transfer services.
Fleri’s digital platform enables immigrant users to protect their loved ones back home without sacrificing their own financial wellness. Fleri customers and beneficiaries also receive health alerts and wellness reports to track the care given underscoring the platform’s ability to enhance access to life saving information.
Fleri, which means “to Flourish” in Haitian Creole was born out of Baddoo’s own experiences as an immigrant in the United States. After losing his Grandmother last year due to the challenges within the healthcare system in his country of birth, Ghana, he set out to create a solution that will help fellow migrants avoid the same pain – one that immigrants in Canada know so well.
“Toronto is regarded as the most immigrant-concentrated city in the world, with 52 percent of our population being foreign-born,” says Sunil Sharma, Managing Director of Techstars Toronto.
“When we met the team at Fleri it became clear to us that they are solving such a fundamental problem in the minds of immigrants, how to ensure the health of their loved ones back home, no matter where they live.
Although Fleri’s first focus is in providing healthcare coverage for families of migrants living in the diaspora, Sharma acknowledges that Fleri’s potential goes beyond healthcare.
“Fleri has a massive opportunity to grow its products beyond funding healthcare via remittances into full empowerment of immigrants to take control of their financial lives,” says Sharma.
“Immigrants in Toronto constantly think about their loved ones back home and always want to do more to support them. Fleri finally allows them to take action and make an immediate difference in their lives.”
As for expanding its operations, Baddoo says, “Fleri’s focus on empowering immigrants to flourish financially will be matched in turn by Toronto’s vibrant diversity and Canada’s reputation for being immigrant-friendly. This combination will create the perfect catalyst for Fleri’s growth, enabling us to develop relevant financial products with which immigrants will support their loved ones back home and enhance their own financial wellness.
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