back Back

3 companies transforming the lending space in South Africa

By Edlyn Cardoza

September 19, 2022

  • Digital Lending
  • DirectAxis
  • Financial Services

DirectAxis, MPOWA Finance, RCS, Online Lending, SMEs, Digital Lending, FinTech, Pulse, Personal Lending, Financial Services, South AfricaTechnology has silently made its way into every space of our lives. We now cannot imagine living a more leisurely life without our smartphones, from booking a ticket from the comfort of our bed to making cross border payments. It seems like mobile phones are a genie granting our every wish.

The financial sector has drastically advanced, fulfilling its customers’ needs by providing services online. The lending sector has seen a global rise. According to KBV Research, “The South Africa Digital Lending Platform Market would witness market growth of 24.7% CAGR during the forecast period (2019-2025).

Lending FinTech companies have helped SMEs and individuals with advanced lending services. FinTech lending companies is an providing the opportunity to reduce the current credit gap in Africa.

Here are 3 companies transforming the lending space in South Africa:

DirectAxis is a proudly South African business that has been in operation for 25 years. DirectAxis offers a range of products, from personal lending to life and short-term insurance and, more recently, access to financial health through its Pulse platform. They promote responsible borrowing and lending and comply with the National Credit Act. They continue to develop the digitisation of the business to deliver a positive and meaningful experience to our customers across all touchpoints.

MPOWA Finance is an innovative FinTech operating in the financial services sector, offering short-term loans to individuals. Established in 2008, MPOWA Finance was one of the first short-term online lenders in South Africa. Their success is rooted in our focus on using technology to solve complex problems. MPOWA Finance constantly looks for ways to improve and develop its products to deliver a better customer experience.

The core purpose of RCS is to improve people’s lifestyle by being innovative in offering desirable and accessible credit products. The idea is to enable RCS customers to enjoy the convenience, comfort and peace of mind offered by these credit solutions. They are based in Southern Africa, but they operate beyond these borders, being part of BNP Paribas – a leading European bank with an international reach. RCS offers cards, loans, and insurance solutions under its RCS brand and in partnership with several leading retailers and businesses.

ALSO READ: Global Lending Vendors & Landscape Report Q2 2022

Previous Article

September 19, 2022

Robinsons Bank selects BPC to drive financial inclusion in the Philippines

Read More
Next Article

September 20, 2022

GBST expands its Equate interactive tools and calculators to the UK

Read More

IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Digital Lending

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 16, 2024

Cashinvoice adds former TATA Motors VP, Ramesh Dorairajan to its Advisory board

Read More

May 16, 2024

Celerant & Sezzle offer BNPL functionality at the Point of Sale

Read More

May 14, 2024

Mexico’s BNPL Aplazo secures $70m in equity funding

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023