Financial technology is becoming increasingly crucial to modern life. It’s what drives the movement of digital money, allowing consumers to buy goods remotely and greasing the wheels of contemporary commerce. But it also sits in a precarious position. 

Fintech companies like Flutterwave, Africa’s most valuable tech startup, must balance the needs of data security against the opportunity costs of growing larger and developing new services. And they must do it in a rapidly changing environment. 

“Our growth has been customer-defined,” Flutterwave CEO and founder Olugbenga “GB” Agboola said on “The Flip” podcast. “Our expansion is always customer-driven. Where does the customer want us to be? We listen to customers a lot in Flutterwave. We have an extreme customer obsession in Flutterwave when it comes to what our customer wants and how to deliver to the customer.”

What Does Fintech Do?

People often fall into one of two camps: the kind who never think about money, and the kind who always think about the bottom line. But even those who obsess over their bank balances don’t often consider what actually happens when they make a purchase or transfer money from one account to another.

Behind every swipe of a credit card, click of a “checkout now” button, and direct deposit, millions of micro-actions are taking place. Fintech is what communicates between banks, merchants, lending institutions, peer-to-peer transfer apps, and more. 

Financial technology began as a way to improve the efficiency of the pen-and-ink ledgers of days past. But it’s become much more than a digital balance sheet. Today, fintech powers automated investment technology, assists nonprofits with fundraising operations, revolutionizes how credit card companies do business, and has spurred new industries like microloans. 

In short, it’s how the modern economy does business and how it keeps score. 

Nearly every modern financial action, from mortgages to day care, is managed by financial technology. 

And the revolution has just begun. 

How Flutterwave Grew

As one of the fintech sector’s most exciting startups, Flutterwave has played a crucial role in the modern financial economy. The 8-year-old, Flutterwave serves enterprise clients like Microsoft and Uber, as well as individuals seeking to easily pay for goods and services, send money to friends and family, and cover out-of-country tuition costs. 

By serving both multinationals and everyday people, the company has become a service provider on both ends of the modern economy, giving it a unique perspective into how today’s business functions. 

Flutterwave is also unique in that it was comfortable using its understanding of the marketplace to dictate its growth, said Agboola. 

“We helped Uber to scale across Africa and we follow them into every market that they were going to go into. So, our expansion and growth story can be linked to our customer requirements, and it can also be linked to our philosophy about making payments simpler across Africa and simplifying payments for endless possibilities,” he said on “The Flip.”

“For us as a company, it’s really just about: How do we make sure our customers can scale on our platform? How do we make sure our customers can go to a new country in Africa and all they have to do is just flip a switch, literally, on our dashboard and they can just go live in their new market?” he added. “Our expansion is always customer-driven. Where does the customer want us to be?”

How Flutterwave Prepares for the Future of Fintech

The focus on service — not growth — is what ultimately allowed Flutterwave to prosper amid a sea of rival service providers. Through Agboola’s leadership and partnerships with influential market leaders like Uber, the company navigated its way from promising startup to a Series D fundraise that resulted in a valuation north of $3 billion. 

Companies don’t get to that level by being lucky. It takes a certain amount of skill at understanding the present and predicting how the currents of today will shape the waves of the future. 

For Flutterwave, the future of fintech will result in a more integrated, interconnected world. From the beginning, Agboola has claimed that his company’s goal was to connect the whole of Africa. Following that logic, it’s clear the future of fintech is complete market saturation, allowing every person across the globe access to the worldwide economy through their phones, laptops, or computers. 

But as they become ubiquitous, fintech platforms will change. Fintech could become more convenient for users, integrating directly into nonfinancial software. Social media users may be able to pay for products from content creators and advertisers directly through their favourite apps, and retail apps feature new services, such as buy now, pay later options at checkout.

There might also be a revolution in how traditional financial institutions, like banks and lenders, serve consumers. Digital payments and banking services could make all kinds of big-ticket purchases, like mortgages and car loans, simpler and faster for consumers.

The wealth of new data may lead to software that delivers personalized financial advice to consumers, allowing lenders or artificial intelligence to steer individuals toward smart investment strategies, better ways to save for education, and more.

All of these new ideas are exciting, but none more so than what Flutterwave continues to train its focus on: the democratization of modern finance. 

As developing countries move into the digital world, their economies will undergo a tectonic shift. By empowering a new segment of the market, Flutterwave will help create the next generation of marketplaces by helping to provide fintech services to entire niches that have been excluded from the modern economy for decades. 

Transforming small communities can have profound downstream effects that will ripple outward to the entire world economy, according to Agboola. 

“We are an enabler,” he said. “We may not go directly to help reduce poverty, but we are going to enable businesses that help to reduce poverty.”

There is a word I have been thinking about a lot recently, particularly in the context of its effect on our wellbeing. That word is: control.

Sam Wren-Lewis holds a PhD in the philosophy of happiness and has written an academic, but very readable, book called The Happiness Problem.

He observes that we tend to take two different approaches to happiness: control or acceptance.

This is not binary, but rather a sliding scale, and we might use each approach for different circumstances.

So, how does our need (or lack of need) to have control affect our financial decisions?

Control

Wanting to have control is fine when it is possible. We see something we don’t like and we try to change it. This can be a very positive thing – see some litter on the road, pick it up, put it in the bin.

However, if we want control where it is unavailable to us, this can make us unhappy. Maybe we see something on the news which makes us angry but which we cannot influence. Wren-Lewis calls this going to “war with reality”.

We can see this all around us. Social media, for example, is full of people who are angry because things have changed in a way they don’t like but can do nothing about.

Acceptance

The alternative is to accept things as they are. This is simple – but can be very hard to do.

We see this principle in many religions. A central tenet of Buddhism, for example, is that suffering occurs when change has occurred, but we still want things as they were. Everything changes all the time – if we refuse to accept that change, then we will be unhappy.

Of course, there are times when not accepting change is the right thing to do. Choosing when to join a protest march or when to pick up that litter, and when to recognise the change is going to happen whether you disagree with it or not, is a significant factor in our wellbeing.

Financial planning

If we accept the objective of financial planning should be to help people be happier, then this principle of control and acceptance has a major implication.

We are not being judgmental here – if somebody likes to be in control and they are able to be in control, and that is doing good, then all is well.

But what if someone wants to be in control of something when they cannot be?

Wanting to have control is fine when it is possible. We see something we don’t like and we try to change it

Suppose you recognise a client has a particularly strong desire to be in control. Perhaps they are a business owner who likes to be very hands-on in their management style.

A financial plan with a fixed retirement date, or the looming prospect of the sale of their business, may look to that person like the beginning of a time when they will not be in control of their lives. This could lead to a failure to engage and make them unhappy.

In this instance, how might you respond? One solution is to explore what might replace the thing they will be losing. Many people approach the selling of a business or retiring with little thought as to what life will look like beyond.

The answer comes in helping a client find the right thing for them to get involved with

Planners will typically help their client with this process. Perhaps the client could join a school governing body or become a trustee of a charity. This goes far beyond ‘keeping busy’ – it gives them purpose and can provide them with their need for control.

Training

That said, this can create disharmony. Being a school governor is not like running a business. It requires different skills and knowledge. There are many examples of people who make things worse with their desire to be in control and do things their way.

The answer comes in helping a client find the right thing for them to get involved with. This means something that will bring them wellbeing – both in terms of giving them a sense of purpose but also to effect change in a positive way.

This means asking some simple questions, such as: “What does a happy retirement look like for you?”, then: “When you have that, what will that give you?”.

Chris Budd’s new book, The Four Cornerstones of Financial Wellbeing, is out now. Financial Wellbeing Pulse is a way of measuring the relationship with money and demonstrating the impact of your advice

A MAJOR UK supermarket has become the first to launch a white mulled wine just in time for Christmas.

The festive beverage has become a Christmas staple, and shoppers will be racing to stores to try the new variation.

1

Marks & Spencers has stocked its shelves with new White Mulled Wine (75cl, 11 per cent), scanning at the tills for just £6.50.

The new Christmas-themed drink combines pear, vanilla and spice flavour mulled wine.

The retailer chose the white variation to offer a refreshing alternative to the “heavy, oaky, and often strong reds” that can feel overwhelming for drinkers.

Maddie Love, a product developer at M&S, added: “Lighter, fruitier notes will appeal to those who prefer a more delicate flavour profile.”

M&S’s festive drink was inspired by the German and Austrian Christmas markets, where white mulled wine is a popular choice.

The popularity of alcoholic beverages has surged in recent years, driven by the rise of European-style Christmas markets across the UK.

However, some argue that introducing the festive drink is a strategy to boost alcohol sales over Christmas, as younger generations tend to drink less than their parents.

Honey Spencer, a restaurant owner in Hackney, east London, said: “I think this product development is more an attempt to keep consumers drinking alcohol in the first place rather than a reaction to changing tastes.”

Shoppers can head to their nearest M&S branch to grab the new festive drink.

It comes as the major supermarket chains announced more than 450 items including new and returning dishes to their Christmas range.

M&S is renowned for its Christmas food, it’s the time of year when shoppers upgrade their usual food shop and spend a little bit more as a treat.

That means the competition is fierce as supermarkets battle for customers’ attention.

Behind the scenes, workers at the iconic retailer revealed that Brits are drawn to classic products with a small twist.

Speculoo flavour is about as wild out as you’ll find. Where you will see creativity though is the designs.

A so-called “hero” product – something M&S is betting on being a big talker and seller – is the Santa’s Workshop Musical Light-Up Tin.

Sparks is already known for its gorgeous light-up house tins – and they are coming back to shelves again.

But the newest invention that M&S expects shoppers to rush to stores for is a musical box.

Wind up the tin and you can watch Santa’s helpers prepare for Christmas. With lights, music, mirrors and moving parts, the £10 (400g) tin is a delightful keepsake for kids and adults. Oh, and it is filled with chocolate chip cookie stars.

Another new creation is a magical snowing forest. Not only does this box of chocs light up there’s a flurry of snow when switched on, like a never-ending snow globe.

For £15 (200g) you get crunchy Belgian milk and blond ganache truffles, and a pretty decoration.

The flavour trend of the cold season is hot honey, which has been added to everything from crisps and popcorn to brie and pigs in blankets.

HOT STUFF

Instead of sausages, the piggies are filled with halloumi and covered with a hot honey drizzle.

The combo of sweet and spicy glaze is moreish and seeps in to the cheese making it a deliciously soft and sweet eat. At £5.50 (240g) for 12, I’ll be stocking up on a few to snack on between now and the big day.

Equally cheesy and delicious is the baked hot honey brie brulee (£7, 288g), which M&S hopes will be a viral hit on social media.

It’s a whole creamy brie, drizzled with English Provender hot honey and sprinkled with brown cane sugar.

As you pop it under the grill for a cracking top, just like a sweet creme brulee, it’s even more indulgent and warming. Perfect for cold winter nights.

How to Become a Freelancer: 7 Tips From the Experts.

If you have a job, you may find yourself fantasizing about leaving your regular nine-to-five to become your own boss. And why not! Freelancing offers a great opportunity to make that dream a reality. So, how can you kick off your freelancing journey, what is needed and how hard is it? We reached out to five freelancers to gather their advice on getting started.

Freelancing provides a fantastic chance to take charge of your work life. As a freelancer, you enjoy the flexibility to work from any location and at your convenience. You can design your own timetable, choose your working hours, and select the projects that interest you. These advantages are what attract many individuals to start freelancing as a part-time gig or to pursue it as a full-time career.

Interestingly, 38% of Americans engaged in freelancing last year, adding almost $1.3 trillion to the U.S. economy.

Have some savings banked

One of the key pieces of advice from freelance chef Andy Mackay is to create a financial safety net: “I always suggest, especially in the beginning, to have multiple sources of income and at least 4-6 months of wages banked” However, this isn’t feasible for everyone. If juggling a job while freelancing isn’t an option for you, consider establishing a financial cushion before diving in.

For instance, you might want to figure out how much money you would need to cover three to six months of expenses without relying on freelance income. This is important because building a steady client base can take time, and even once you’re settled, there may be slow periods. “Prepare for the ups and downs of freelancing as it isn’t always plain sailing,” cautions Paul Messenger, a building contractor who initially balanced his freelance career with training. There will be times when work is plentiful and others when you might question if you’ll ever find work again.

To give your freelance journey a fair shot, it’s crucial to be ready for both scenarios and not give up at the first sign of a lull. You can also make the most of those quieter times. “Use the downtime to take stock of things, take a break, brainstorm or strategize” Paul advises. “Use that time for admin, marketing, or,” she adds with a smile, “to take a break.”

Related: The average savings based on your age

Build and refresh your portfolio

Building an impressive portfolio is a crucial step toward achieving success as a freelancer. Your portfolio serves as a testament to the quality of your work, allowing you to display your achievements and previous projects.

This is your chance to demonstrate to potential clients what you can do and the value you bring to the table. A portfolio is essential whether your skills are creative or technical. On platforms like Upwork, it enables you to present your finest work to clients, regardless of its format.

Make sure your portfolio emphasizes your standout projects that align with the services you offer. Each entry should clearly illustrate your role and the positive impact your work had on the client. Paul says, “consider including elements such as case studies, client testimonials, measurable results, visuals, charts, work samples, and mock-ups. Remember to obtain permission from previous clients before adding their project materials to your portfolio.”

Define your service and offering

Identifying your skills and transforming them into a service that can be marketed is the initial step toward freelancing. Take some time to reflect on your abilities and explore the job opportunities that are currently available. These represent the most sought-after skills on Upwork for 2024.

After pinpointing your skills, the next task is to promote them effectively. It’s essential to grasp how your abilities can benefit potential clients. Try to view things from the perspective of your ideal clients. Think about the challenges they face and how your skills can provide solutions. Keep in mind that clients are in search of answers to their problems. To thrive as a freelancer, you must comprehend the client’s needs and leverage your services to tackle their issues. This understanding will allow you to address their pain points in your profile summary and proposals.

Paul says, “craft a concise description of your freelance service that effectively markets it to businesses.” Aim to clearly articulate what you offer, how you deliver it, and the types of clients or businesses that would benefit from your expertise. Don’t stress about pricing just yet; we’ll cover that in the next steps.

Find your target audience

Now that you have a freelance service ready to go, it’s time to pinpoint your target audience. Begin by determining the types of clients who would benefit most from what you offer. Do these clients share similar challenges and traits? Are they part of a particular industry?

Paul says “As a newcomer in the freelance world, being skilled at your craft alone won’t guarantee that clients will come knocking at your door.” It’s essential to put yourself in front of potential clients so they can discover your services. Taking an active approach to seek out clients is necessary.

Most freelancers typically use three main strategies to attract clients:

1. Engage with freelance job posting platforms

2. Utilize your existing network and connections

3. Implement marketing, advertising, and outreach efforts

Figuring out which of these methods works best for you is crucial in connecting with the right clients for your services. “under promise, and over deliver.” – says Andy Mackay, that way you win over the client, improve customer satisfaction, foster solid connections, and distinguish yourself from your competitors.

Recognize your worth

When you dive into freelancing, you’ll meet clients from various backgrounds, sizes, and importantly, budgets. Andy says, “It’s essential to familiarize yourself with the going rates in your field and create a rate card that reflects your worth.” Additionally, consider developing a personal sliding scale that allows for some flexibility while still maintaining your standards.

Stand out from the rest

Being unique for the right reasons is a major asset and a great way to start your freelance career. As a freelancer, your clients are the heart of your business. It might seem like a given, but building a strong, positive relationship with them is crucial. “The most successful freelancers focus on nurturing these connections, viewing their work as an ongoing partnership rather than just a single transaction.” – says Paul.

Example: You might consider customizing the portfolio you share by focusing solely on projects that relate closely to the challenges the client is dealing with. Make sure to clearly highlight how these experiences align with their requirements. This approach will help the client evaluate more efficiently and determine if you’re the ideal fit for their needs.

Develop and Evolve

“If I were running a company, I would always want to listen to the thoughts of its most talented youngsters, because they are the people most in touch with the realities of today and the prospects for tomorrow.” – Sir Alex Ferguson.

Freelancers are engaged for the unique services and expertise they bring to their clients. Therefore, it’s important for freelancers to continually enhance their skills, stay adaptable, and broaden their knowledge base. Keeping up with the latest trends and upskilling is vital to delivering top-notch service to clients. Online platforms like Udemy, LinkedIn Learning, Coursera, and even YouTube tutorials offer excellent opportunities to keep your skills fresh and relevant.

Investors’ ‘love affair’ with environmental, social, and governance (ESG) is “continuing to cool” according to research from the Association of Investment Companies (AIC).

AIC’s ESG Attitudes Tracker revealed the number of private investors who said they consider ESG when it comes to investing has dropped for the third year in a row.

According to the Tracker, less than half (48%) now think about ESG, compared to 66% in 2021.

Over two fifths (43%) of investors said they consider themselves “fans” of ESG investing, down from 60% in 2021, 51% in 2022 and 50% in 2023.

Only 17% of respondents felt ESG investing is likely to improve performance, down from 22% last year.

There has also been a shift in which ESG issues investors consider to be most important.

While environmental issues have dominated previous years, they now tie with governance issues, with 37% of respondents considering both to be equally important.

Social issues continue to trail, with 28% of respondents considering them as being important when investing.

Additionally, previous ESG Attitudes Trackers have revealed low levels of trust in ESG claims from funds, as well as concerns regarding greenwashing.

The introduction of the Financial Conduct Authority Sustainability Disclosure Requirements (SDR) rules to prevent greenwashing has not reduced this figure “but there are signs that at least they are not getting worse”.

Overall, 53% of those under the age of 45 consider ESG when investing, compared to 43% of those aged 65 or over.

Older respondents were also less likely than younger investors to associate ESG with positive words and phrases.

Less than half (48%) of those aged 65 or above associated ESG with being “responsible”, compared to 76% of those aged under 45.

AIC research director Nick Britton said: “Our ESG Attitudes Tracker shows that investors’ love affair with ESG investing continues to cool.

“That doesn’t mean they reject it altogether though. To extend the metaphor, they are thinking about the bits of ESG they like and those they don’t, and deciding if they want to make this a longer-term relationship.

“One interesting aspect of this year’s research is that almost all the governance issues have increased in importance for investors.

“Investors are increasingly savvy and recognise that governance is the bedrock of ESG investing: put another way, you need the G before you can have the E and the S.

“Though passions for ESG may have cooled, our research also suggests that love has not turned to hate.

“Few investors are actively hostile to ESG: for those who aren’t so engaged, it would be more accurate to describe them as sceptical, uninterested, or prioritising investment performance over ESG issues.”

To obtain these figures, AIC conducted an online survey of 400 private investors and 202 financial advisers between 8 July and 31 July.

MCDONALD’S has revealed why its iconic McRib will never become a permanent fixture on its menus in the UK.

The barbecue-flavoured pork sandwich has not been seen on these shores for nearly a decade – though will be back in a matter of days.

3

3

Advertisement

3

The fast food giant has confirmed it will return for a limited run from Wednesday (October 16).

The sandwich – first introduced to Brits in 1981 – was discontinued just four years later, although has returned several times since.

It was last on sale in December 2014.

It is not clear why McDonald’s has suddenly decided to bring it back – despite claims it simply waits for pork prices to drop significantly.

But the reason the McRib has never been brought back properly appears to relate to grill capacity, and rules around keeping beef and pork separate in the UK.

A spokesperson told The Sun: “The McRib is a limited-edition product and will be available whilst stocks last.

“In the UK, we consider it important to separate pork and beef on the grill, so separate cooking processes and dedicated utensils have been implemented across our restaurants to allow us to satisfy McRib fans and finally bring it back to the UK.”

The Sun has been told McDonald’s staff have undergone special training on handling the McRib, which will be cooked on the left-hand platen of the quarter grill.

This avoids the transfer of juices into the middle platen, which is dedicated to cooking beef.

On being asked previously about the McRib never being brought back permanently, McDonald’s said: “Unfortunately, many of our restaurants do not have enough grill capacity to cook pork and beef products at the same time.

“The breakfast menu is different because we don’t serve beef products, which allows us to have a dedicated grill for all our delicious pork products.”

There is some debate among industry specialists in relation to the pork market and why McDonald’s has reintroduced the menu favourite now.

A spokesperson for the British Meat Processors Association (BMPA) told us: “Pork prices at the moment are averaging well above the 5 year average and supplies have been short for pork with the UK breeding herd the smallest we have ever known it so the UK prices have been about 20% higher than the EU price. 

“Whatever the driver for the introduction of the McRib I can’t see that it is due to lower prices or an increased supply.”

However, Red Tractor said: “Pig prices have dropped this year after a long term rise.

“The pig price is pretty cyclical and also very much influenced by the EU pig price – if that’s reduced it pulls the UK pig price down.

“So, we think it’s fair to say that there is a fair amount of ‘heads up’ on direction of travel of the pig price.

“We wouldn’t be able to say whether that drove McDonald’s to re-introduce the McRib, unfortunately.”