Saturating traditional business forces telcos to embrace fintech

Saturating traditional business forces telcos to embrace fintech

Arabian Post Special With core telecom businesses reaching maturity, characterized by high mobile penetration rates exceeding 100% in some countries, the region’s telecommunications companies are embarking on newer ways to boost revenues by embracing technology to expand their footprint and diversify their income sources . Fintech appears to be a most dominant theme. UAE telecom giant e& has set an  ambitious target of generating 40% of its […]

via Saturating traditional business forces telcos to embrace fintechArabian Post Special

With core telecom businesses reaching maturity, characterized by high mobile penetration rates exceeding 100% in some countries, the region’s telecommunications companies are embarking on newer ways to boost revenues by embracing technology to expand their footprint and diversify their income sources . Fintech appears to be a most dominant theme.

UAE telecom giant e& has set an  ambitious target of generating 40% of its revenue from tech-related businesses by 2030 underscores the transformative potential of this approach. e&, formerly known as Etisalat, has made a bold move by aggressively entering the fintech space. This strategic shift signifies the immense potential telcos see in financial technologies.

The move is prompted by the fact that the GCC region has a burgeoning young population with high smartphone penetration, creating