Safaricom Mpesa has announced one of their major update this year. They have been able to launch a system that is designed to increase the amount of transactions by the company. This is one of the major updates by the PLC from 2015. The PLC has therefore introduced Fintech 2.0 which is meant to increase efficiency, strengthen resilience and unlock AI based tools. This is a perfect upgrade that will help Mpesa meet its growing demand in Africa.
In his speech Mr.Peter Ndegwa said that the upgrade of Mpesa is a bold investment and affirmation to their commitment to innovation. Fintech is unlocking a platform that not only meets the current demand but also anticipates future opportunities. He further says that Fintech will not only help in innovation but also ensuring customer trust and resilience
Safaricom Mpesa services will expand capacity from 4500 to 6000 transactions per second with potential scale up to 12,000 transactions when demand grows. The Plc will also introduce active architecture across multiple hpsting sites therefore increasing resilient. The fintech is embedded with advanced Artificial Intelligence (AI) tools to detect fraud, enhanced self-healing and real time monitoring. Its cloud foundation ensures high performance, scalability and new items deployment.
Mpesa has grown over the years, from a simple money transfer service provider to a African’s recognised Fintech ecosystem. It has integrated itself in providing services such as powering payment, savings, credit ,insurance, remittancies and e-commerce. The development of Fintech 2.0 is designed to sustain the Mpesa growth and help it in its future development while helping safaricom deliver smart, secure and more adaptable financial solutions.
Mpesa is laying foundation for innovation for years to come and the new upgrade ensures that the foundation remains robust to support Africa’s digital economy as it keeps making financial services simple and accessible. Safaricom Plc is experiencing growth the this upgrade and much more is anticipated as demand for Mpesa services tend to grow accross African countries.
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