Crayon Data and Redington MEA partner to boost Africa fintech

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UAE - Crayon Data, a leading artificial intelligence and big data company headquartered in Singapore with a presence in India and UAE, has announced its partnership with Redington Middle East and Africa (MEA) in Africa.

Together, Crayon Data and Redington MEA will strengthen Africa’s digital backbone with AI-driven solutions. The partnership aims to create a highly differentiated offering for fintech and consumer banking players to accelerate financial inclusion.

Suresh Shankar, CEO & Founder of Crayon Data, said: “Africa is a massive untapped opportunity, especially in banking and fintech. The rise of digital wallets in Africa - 562 million customers, 28 billion transactions, $452 billion in value annually, marks a progressive step towards financial inclusion. Our partnership with Redington will create a massive opportunity to benefit African consumers, through innovative ideas like device financing, digital wallets, micro-finance, micro-insurance, etc.

Together, Crayon Data and Redington MEA will offer an innovative business model and an end-to-end platform for any enterprise wanting to launch a digital wallet or Neo bank. The platform combines Redington’s hardware, software, and mobility expertise and presence in 18 markets, with Crayon Data’s innovative maya.ai fintech software.”

Crayon Data’s flagship platform, maya.ai, aims to cut through the data clutter that enterprises are inundated with. Using patented algorithms and machine learning (ML), maya.ai generates simple, easy-to-understand, and relevant insights based on non-personally identifiable information (PII) consumer data. This information allows enterprises to make informed business decisions to drive customer engagement. With this partnership, Redington will introduce the magic of maya.ai across financial services, telecommunications, payments, wallets, travel, and tourism in Africa.

Viswanath Pallasena, CEO – Middle East and Africa at Redington Gulf says: “Our exclusive partnership with Crayon Data will enable us to fulfill our mission of reducing technology friction so that technology can benefit people, organisations, and society at large. Our channel partners across Africa will be empowered to offer quick-to-deploy affordability solutions, supported by fintech platforms, e-wallets, and data analytics, which will allow products and services to be delivered upfront with customized payment options. By leveraging Redington’s partner relationships with Crayon’s innovative fintech solutions, we will be able to bring value to a wider range of customers, including consumers and enterprises across Africa. This partnership presents a wealth of new opportunities for our channel partners to better serve their customers with the latest technology, and we are thrilled to work with Crayon to deliver affordable solutions that will help bridge the gap between innovation and adoption in Africa.”