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 Mauritians 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. (10 marks)

(Please answer to be based on Mauritian context - 1000 words)