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Since the dawn of the first internet page loaded, the world has not looked back. By leaps and bounds, technology has evolved and swept the world of finance with it.
Today, financial institutions are trying to adopt innovative and high-speed financial standards for the public.
Fintech, short for financial technology, are the digital innovations that have been taken up for the development of financial systems. The increase in mobile devices and fast internet has led to a fast rise in fintech in Cameroon.
According to data provided by the Ministry Of Finance of Cameroon, about 10% of the population in Cameroon from ages 15 had a bank account in 2017. The survey further showed that Cameroonians had more faith in making transactions with the less conventional means, fintech. This was a huge indicator of the emergence of fintech in Cameroon.
More than 76% of the population reported using mobile phones to justify the population foregoing the traditional banking systems for the newer fintech. This number continues to grow, and so is the number of internet users in Cameroon. They are falling more in love with mobile money and e-wallet transactions.
Here are a few parameters we use to determine the top fintech institutions in Cameroon
Innovation
Innovative ideas
Innovative route to market
Innovative product
Growth
Exceptional growth
Exceptional growth strategy
Management
Societal impact
Related: Top Fintechs In Rwanda
The Top Fintech Companies In Cameroon
1. SEED
SEED is a startup specializing in financial technologies and the publishing of connected software, which develops platforms for the aggregation of electronic payment services and means for individuals and micro-financial institutions.
Top of fintech in Cameroon, they rely on feedback on its services from users of its customers’ solutions and the actual demands of the current market for electronic payment solutions. As a result, they are developing an innovative, secure, and easy payment ecosystem of access and use, combining the best of portfolio aggregation and aggregation of payment methods based on ultra-fast technologies to offer the African diaspora, merchants, and customers a solution to measure for a unique and positive experience (attack the online payment and mobile money transfer market in Cameroon and Africa).
2. FinTech Ltd
FinTech Ltd. provides custom Blockchain Development Solutions at cost-effective prices.
They have carved out their own space in this domain as a Blockchain Application Developers team with a unique history and experience creating cutting-edge web and mobile applications based on Blockchain technology. Their goal is to help address real-world challenges by using the power of Blockchain Technology.
Blockchain technology has become a game-changer in FinTech in Cameroon, where it is being used to drive the Cryptocurrency landscape. Owing to the high level of flexibility in this distributed ledger technology, Blockchain technology now allows people to create unique, specific assets online.
With their extensive experience in Cryptocurrency development services and a highly experienced team of Blockchain Developers, they aim to deliver the best Blockchain solutions at affordable market rates. We also specialize in building Smart Contracts, Exchange Platforms, Private Blockchains, and Cryptocurrency Wallets.
3. ZuumPay
ZuumPay is a global mobile payment and financial service application that offers a wide range of financial services for cross-border payments and transactions. Rather than managing several services to achieve a single task, ZuumPay offers a One-Stop-Financial-Counter that allows users to achieve any financial task in real-time from any part of the world at the time with a push of a button.
ZuumPay system supports tokens representing fiat currency, cryptocurrency, commodities, etc., given our users' complete access, management, and control over their finances with a Reward-Based Referral network. It is a revelation for fintech in Cameroon.
4. Guanxi Invest
Founded in 2017, Guanxi-Invest is a 100% independent firm specializing in providing alternative financial services in Africa. Their crowdfunding offer is a pioneering solution for fintech in Cameroon that enables individuals from all over the world to participate in the financing of the real economy.
They joined the ACFA in 2018, the first association for crowdfunding professionals in Africa. Today, with a community of over 15,000 registered users, they are the leading equity crowdfunding platform in Africa.
5. Diool
Founded in 2015, Diool is a payments Fintech helping small merchants sell consumer goods, collect payments from their customers, and easily pay their suppliers. In addition, through usage, they gain access to other financial services such as savings, credit, and insurance products.
Diool's scope of operation ranges from E-Commerce, Financial Services, Internet, Mobile, to Mobile Payments.
They are a developer of a payment processing platform designed to carry out financial transactions digitally. The company's platform permits estimating revenues, earning reseller commissions, accepting merchant payments, earning instant commissions, withdrawing cash, and making payments to suppliers, enabling businesses to manage their financial payments.
6. Zito Financial
Zito Financial, a fintech in Cameroon, was founded in 2015 to make banking and finance better, using technology to create improved customer experiences and bring more financial clarity. Their goal is to use modern IT skills, techniques, and processes, build reliable, secure frameworks for best results.
Zito Financial leverages algorithms, machine learning capabilities, and automated platforms to deliver finance and payment solutions.
7. WazaPay
WaZaPAY is an e-Wallet and an online payment gateway that allows users to securely make and receive payments through mobile phones over the internet.
As new technology keeps being deployed, so too are WazaPay targeting to meet the market and needs of everyone any time, anywhere. Mobile Money has become popular that every Mobile Operator, Local and International Banks or financial institutions are employing the Mobile Money technology. WaZaPAY is that e-wallet payment gateway that supports Mobile Money. All Mobile phone users with an allocated Mobile Money account can do online transactions via WaZaPAY without borders.
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