International Finance Corporation – Dataconomy https://dataconomy.ru Bridging the gap between technology and business Fri, 21 Aug 2015 14:22:53 +0000 en-US hourly 1 https://dataconomy.ru/wp-content/uploads/2025/01/DC_icon-75x75.png International Finance Corporation – Dataconomy https://dataconomy.ru 32 32 YellowPepper Closes $19 Million in round Led by LIV Capital https://dataconomy.ru/2015/02/03/yellowpepper-closes-19-million-round-led-liv-capital/ https://dataconomy.ru/2015/02/03/yellowpepper-closes-19-million-round-led-liv-capital/#respond Tue, 03 Feb 2015 11:54:56 +0000 http://ftjournal.com/?p=589 YellowPepper, a Latin American pioneer in mobile banking and payment solutions, has landed $19 billion in a Series C round led by LIV Capital. Investors include Mexico Ventures, a program managed by Sun Mountain Capital (a US-based venture fund), Fondo de Fondos, International Finance Corporation / World Bank Group and an existing group of strategic investors. Founded in 2004, the growing company provides services in Mexico, Colombia, Ecuador and Peru, employing the best and brightest in the tech space with more than 60 team members throughout its regional footprint.

The company has launched a new mobile wallet solution in the Latin American market called Yepex, a white-labeled m-payment platform – which includes support for major operating systems and communication protocols like NFC, BLE and QR codes. This allows consumers, businesses and banks to interact, manage and accept cashless payments even if they don’t have smartphones.

Yepex operates via a system of tokens, wherein the users can make transactions with a unique token via either of the three platforms, without revealing sensitive information. Serge Elkiner, CEO/Co-Founder, says the tokenization system “drastically reduces the fraud for card-not-present transactions”, which is a major predicament in Latin America. He says it also improves the security for ATM transactions through a card and pin-less withdrawal.

This new round will bring YellowPepper’s total funding to $34 million and will mostly be dedicated to its development and commercialisation as reported by TechCrunch.

Yepex is encashing on the existing card infrastructure giving them an edge over other mobile payment solutions in latin America including Pademovil, Mobilcard and others offering closed loop payment solutions. YellowPepper reportedly has a five million customer base powering over 30 million trasactions per month comprising 85% of the market share in Latam.

Although PayPal continues to dominate the mobile payment market, Yepex is certain to carve its niche in the mobile payments sector in Latin America. With NFC payments rapidly gaining popularity, Yepex has the potential of expanding its market exponentially.

(image source: Mike Licht)

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Big Data for Education https://dataconomy.ru/2014/04/30/big-data-education/ https://dataconomy.ru/2014/04/30/big-data-education/#respond Wed, 30 Apr 2014 15:09:14 +0000 https://dataconomy.ru/?post_type=news&p=2349 The World Bank Group and its private-sector lending arm, the International Finance Corporation (IFC), are trying to harness big data’s potential to support national education systems, with their recently launched ‘Systems Approach for Better Education Results’ initiative, which collects and shares comparative data on educational policies and institutions from countries around the world. Jin-Yong Cai, […]]]>

The World Bank Group and its private-sector lending arm, the International Finance Corporation (IFC), are trying to harness big data’s potential to support national education systems, with their recently launched ‘Systems Approach for Better Education Results’ initiative, which collects and shares comparative data on educational policies and institutions from countries around the world.

Jin-Yong Cai, the executive vice-president and CEO of the International Finance Corporation, writes that big data “can provide teachers and companies with unprecedented amounts of information about student learning patterns, helping schools to personalise instruction in increasingly sophisticated ways”

Bridge International Academies, an IFC client founded by American entrepreneurs, tests different approaches to teaching standard skills and concepts by simultaneously utilizing two versions of a lesson in a large number of classrooms in Kenya. Exam results are recorded, with more than 250,000 scores logged every 21 days; from these data, Bridge’s evaluation team determines which lesson is the most effective and distributes that lesson throughout the rest of the academy’s network.

Information technology offers the right tools to broaden access to high-quality, affordable education, that will provide countries with the skilled, talented young people necessary to spur economic growth. Students’ performances are subject to many individual factors that can cause them to decline, but by gathering results on a large scale, variables flatten out, and the important differences come to light.

Read more here

(Image Credit: © Amنــa)

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