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FinTech in Mauritius
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.
QUESTIONS
1. Considering the Mauritian context, list and explain the benefits of Fintech.
2. Considering the Mauritian context, justify what could be the possible drawbacks of FinTech
3. 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.
4. The Mauritius Central Automated Switch (MauCAS) is a novel state-of-the art digital hub fully owned and operated by the Bank of Mauritius for routing payments among operators on a 24x7 basis. Do you believe MauCAS will be a success or failure in Mauritius? Justify your answer.