Top Fintech Companies in South Africa
No one would have predicted that fintech solutions would be so universally accepted just a few decades ago, but here we are; fintech has gone mainstream and is no longer a niche sector. Meanwhile, the rise in popularity of fintech means that more people than ever can make life-changing money moves with a mobile device in their pockets. This report examines the top fintech companies in South Africa based on publicly released results from Google Seller Ratings and its aggregated system of ratings and reviews to see how offering top-notch customer service can boost revenue and promote trust between financial companies and their clients.
Industry Overview Fintech
Generally, software, mobile applications, and other technologies designed to enhance and automate conventional forms of finance for both corporations and individuals collectively fall under the umbrella term “financial technology,” or fintech.
Fintechs developed in South Africa just a few years ago, and no wonder most of them are still described as start-ups. Fintechs arose because the majority of the population kept their money on hand and did not use banks; as a result, fintechs became a big deal as a cheaper and faster way for people to deposit and withdraw their money in the shortest amount of time possible.
For that reason, fintech companies strive to change the public perception of other financial institutions to gain a greater market share. This means fintech as a whole is always reinventing the customer experience. Prior to product innovation, customer experience is thought to be the key differentiator for new brands. This is because positive reviews encourage new people to sign up, which in turn makes happy consumers feel good about themselves.
Customers need to believe they can rely on an app (and, in a larger sense, the entire team) to deliver a positive experience, protect their money, and assist them in getting the results they want. Client support, as well as overall online customer experiences, are crucial in this situation. With plenty of fintech companies emerging, it’s not always easy to know what to expect, let alone which fintech company to choose.
Top-rated fintech company in South Africa
|Traderoot Technologies (Pty) Ltd||4.8||16|
|Ozow (PTY) LTD||3.9||32|
Most reviewed fintech company in South Africa
|Ozow (PTY) LTD||32||3.9|
|Traderoot Technologies (Pty) Ltd||16||3.1|
With a rating of 5.0 stars, JUMO is at the top of our list, followed by Electrum and Transaction Junction tied for second place, both with 4.9 stars. Each fintech firm had mostly positive ratings on the quality of their services, staff, and technical support.
Yoco is our most reviewed fintech firm, with 233 reviews. It is hailed as a top service provider on the list, and in third place, Ozow is hailed for its efficient work ethic and friendly personnel with 32 reviews.
Ratings and reviews are critical to the importance of a business and increase customer satisfaction and sales in the long run. eKomi understands the importance of ranking, which is why we have completed our StarInsights rating as a list of the top fintech companies in South Africa.