Helena Conradie, CEO of Satrix.
EasyEquities and SatrixNOW were thrilled to receive the overall award for Best African FinTech Company 2016 at the Finance Indaba Africa in Johannesburg recently. The African FinTech Awards is part of Finance Indaba Africa, the largest conference and expo for finance professionals on the continent.
The EasyEquities | SatrixNOW ground-breaking share-trading platform makes it possible for investors to buy fractions of shares at a low cost and with an exceptionally easy interface. The relationship between EasyEquities and Satrix, the largest equity index tracking provider in South Africa, makes it possible for investors to employ the same innovative technology driving the EasyEquities platform to also access Satrix exchange-traded funds (ETFs).
Historically, individuals wanting to invest in an ETF often needed prohibitive sums of money and a stock broking account. To overcome these hurdles, Satrix launched the Satrix Investment Plan in 2006, enabling thousands of South Africans to access ETFs for as little as R300 per month. Looking for a solution that scraps the minimum investment amount requirement was a natural next step.
EasyEquities had that solution. By offering fractional shares – which includes ETFs – EasyEquities had democratised investing and made investing accessible to all – no matter how small the amount they want to invest. With its bespoke technology, passionate team and service ethic, it is no wonder the company is stringing in the awards; recently it won SA’s Top Stockbroker award and was also named Top Tax Free Savings Account by Investor’s Monthly.
Charles Savage, CEO of EasyEquities, was elated to receive the overall award for Best African Fintech Company 2016. “Thanks to my team for never fearing to fail to innovate. I give them one idea and they turn it into a 100, and make a success of all of them. I look forward to collaborating with all of you in the future. We want to democratise stock trading and expose innovation in Africa. The continent has a big role to play in FinTech.”
Says Helena Conradie, CEO of Satrix, “We believe in partnering with the people who have the same ethos around investing that we do. Satrix has always been about democratising investing and making it more accessible. When we met with EasyEquities, it was clear we speak the same language, which is why we chose EasyEquities as our platform partner in launching SatrixNOW.”
For the African FinTech Awards 2016 more than 30 000 fintech enthusiasts from all over the world have voted for their favourite African fintech company. In addition, a panel of expert judges - experienced fintech investors and innovation leads of Africa’s top banks - assessed the large selection of promising African FinTech companies. Public votes constituted 25% of the weight in determining the African FinTech 100 and the panel of judges constituted the remaining 75% of the weight.
The judges considered various aspects of the fintech companies reviewed. Does it have the power to change the industry? Does the company satisfy a real customer need and how are customers engaged? Is it still signing up new customers and can it retain them? And what is the relationship between cost and benefits and the impact on the environment and society as a whole?
Considering criteria such as the above, the EasyEquities | SatrixNOW platform also scooped the honours in the InvestTech category, with the runners-up being property-trading platform WealthMigrate and daily investment forecast vehicle I Know First.
Companies from other continents are also allowed to submit entries, but it’s important that they operate mainly in Africa. The focus of the African FinTech Awards is undoubtedly African. The main purpose of the African FinTech Awards is to celebrate innovators that shape the future of finance in Africa and to acknowledge the work these companies did to make a difference.
Says Savage, “Satrix and EasyEquities have the same end-goal in mind - making the stock market accessible to all. Our journey with Satrix is proof that collaboration works when there is a shared vision.”
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