Channel VAS: fintech services for emerging markets through Greece
“FinTech has emerged to bridge the existing gap between the current banking status quo and the ever-changing needs and means of people in the digital age. As a cutting-edge company in this field, our services facilitate the everyday transactions of people, and especially in regions like Africa where the majority of the population remains unbanked this can make a big difference” says Mr Stefanos Papilidis, Brand and Communications Manager of Channel VAS, in his interview at the Greek business website, EMEA.gr.
In the interview the strategic decision of Channel VAS to hold its operating center in the capital of Greece, although it does not currently have synergies in the Greek market, is explained, while it is pointed out that “Greece has a plethora of highly qualified professionals who can work with Channel VAS, supporting our efforts to achieve worldwide our mission and goals”.
Also, some of the most significant results of Channel VAS that are indicative of its continuous growth are shared: 2016 was a crucial year for our company as Channel VAS offered loan services to more than 220 million people around the world and in the same time it has overtaken the $1 billion barrier on global loans, figures that are made even more impressive by the fact that Channel VAS is a FinTech company and not a financial institution.
The expansion of the company is also highlighted: “Channel VAS is actively present in 20 countries around the globe and continues to enter new markets while maintaining or building stronger partnerships with some of the world's largest telecoms providers. Our main focus is on the areas of Middle East and Africa but we are steadily expanding to other regions such as Asia, Latin America and Eastern Europe.”
The “nano-finance” services of Channel VAS are also highlighted as a basic pillar of our portfolio: “Through them, their customers can have a number of facilities from their mobile phones, from direct purchase and renewal of speaking time to small loans, which can then be repaid through monthly installments to their provider. As is readily understood, these services are very useful in remote areas that lack even basic infrastructure”.
Mr. Papilidis also highlights Channel IT Group founder and CEO, Basim Haidar, business and humanitarian profile. He mentions that besides a very successful entrepreneur, Mr Haidar is also an Amnesty International Global Council Member, very active in various charitable activities and is actively involved in initiatives that help both the population groups in need and the development of areas and markets. “Thus, all of his actions in this field are also reflected in its overall business approach and philosophy through Channel VAS, namely to develop products and services that help people in underdevloped areas”.
Regarding the African continent, Stefanos notes that Channel VAS sees the diversity and developing status of most countries and markets as a great opportunity. “We aim to make life easier for people in these areas, through the telecommunications providers there, offering unique solutions that will improve their everyday lives” he adds. “The substantial lack of basic technological and financial infrastructure in the region gives us the great opportunity to intervene with our services and fill this gap through specialized proposals. As markets in the wider region are evolving and growing, there is enormous growth potential.”
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