With the Digital Finance Africa 2024 conference a few days away, IT News Africa is excited to announce one of its sponsors: Omnisient, which is participating as a keynote sponsor in this prestigious annual event scheduled for Thursday 4th of July 2024 at The Maslow, Sandton in Johannesburg, South Africa.
Omnisient envisions a better future for society through the ethical use of data for good.
What they believe
Omnisient believes that data collaboration enables world changing opportunities for businesses and communities, but they should never be at the expense of the consumer or the business that serves them.
They believe that with one of these world changing opportunities they can enable growing financial inclusion. Globally, over 1.7 billion individuals are missing from the formal financial landscape, unable to access essential services like housing, education, healthcare, and business capital. Why? Financial institutions lack the behavioral data that would allow them to serve these individuals confidently and securely.
Mission
They want to create the world’s largest repository of alternative consumer data to grow financial inclusion. This will help extend formal financial services to those who have been excluded in the past through the secure and compliant sharing of anonymized consumer data between financial services and consumer businesses.
How they do it
Their privacy-preserving data collaboration platform uses Privacy Enhancing Technologies (PETs) and advanced Cryptography and AI to enable businesses to discover, validate and commercialize new alternative sources of consumer behavioral data without ever having to exchange data or share consumers’ personal information. Watch our two-minute explainer video to learn how they protect consumer privacy while enabling ground-breaking insights.
The Benefits
For Consumer Brands:
Supermarkets, telcos, gyms and pharmacies, securely joining their consumer data with other businesses’ consumer data amplifies their ability to optimize marketing, strengthen customer loyalty, build new innovative products, and generate new revenue beyond digital advertising.
For Financial Institutions:
This collaboration delivers alternative sources of data that optimize cross-sell and upsell campaigns for existing customers and drives lower-risk and more profitable decisions on premiums, underwriting, and credit offers for new clients, especially those previously excluded because they lack data footprints within conventional data sources.
For Consumers and Society:
The ethical use of anonymized consumer data can reveal insights that deliver enhanced customer experiences, cost-savings, as well as life-saving medical breakthroughs, life-changing access to financial services, and financial protection from unexpected events.
Results that have real world impact
At Omnisient they take their impact seriously, their goal – bring those who have frequently been overlooked within the financial system to the forefront in a safe and secure manner and enable them to reach their full potential.
About Digital Finance Africa 2024
The 4th Digital Finance Africa conference is an essential gathering for leaders and innovators in the African financial sector. This day-long event promises to address critical challenges and explore exciting opportunities within banking and FinTech across the continent. By focusing on practical solutions and strategic insights, Digital Finance Africa aims to spearhead advancements in financial technology and drive economic growth in the region.
To be part of this transformative event, you can register here.
Additionally, IT companies with solutions for banking and FinTech companies looking to showcase their innovations can seize this opportunity by becoming sponsors. To learn more about sponsorship opportunities, click here to download the sponsorship brochure.
//Staff writer