• Direct Transact hopes to create a pipeline of opportunity for students hoping to pursue a career in the fintech space.
• To that end it has announced a Memorandum of Agreement with the University of Pretoria Department of Informatics in the Faculty of Engineering, Built Environment, and Information Technology.
• BCom Informatics and BIS (IT) students will receive tuition support and much more as part of this agreement.

The global fintech technologies market is expected to be valued at $694.48 billion with the compound annual growth rate between 2021 and 2030 set to be as much as 20.3 percent according to Allied Market Research.

Investment in growing this sector then is a good idea if not a necessity for firms in the space looking to capitalise on that growth.

Today Software-as-a-Service and Banking-as-a-Service provider Direct Transact, signed a Memorandum of Agreement with the University of Pretoria Department of Informatics in the Faculty of Engineering, Built Environment, and Information Technology.

The agreement will see undergraduates in the BCom Informatics and BIS (IT) courses receiving tuition support in the form of practical experience and mentorship.

“Our company plays a critical role in the functioning of the financial ecosystem in South Africa, and bringing a local talent pipeline into this ecosystem to drive fresh thinking and innovation is tremendously exciting. A partnership with the University of Pretoria will ensure that many talented young people get the opportunity to make a contribution to the quality and stability of South Africa’s financial grid,” Elmar Grobbelaar, executive head of Finance, Risk and Compliance at Direct Transact said in a statement.

The practical experience students will receive is going to be rather impactful. Direct Transact, through it’s platform handles as much as R40 billion in transactions every month, supporting 21 currencies.

“The heartbeat of the Faculty of Engineering, Built Environment and Information Technology (EBIT) is innovation. Technology provides for a digital transformation process that extends beyond tools and processes. It impacts individuals and organisations, resulting in the improved and sustainable well-being of both people and the planet,” said Dean of the Engineering, Built Environment and Information Technology, Prof Wynand JvdM Steyn.

“Our EBIT graduates are skilled for the future of work and it is not possible if our industry giants don’t offer their skillset and financial support to our students. We are privileged and grateful for the collaboration between EBIT and Direct Transact. We look forward to innovating our tomorrow together,” the professor added.

We hope to see some innovative ideas being born as a result of this new partnership. Indeed, Direct Transact says that together with the UP EBIT department it hopes to establish the foundation for future collaboration in terms of research and specialist field investigations.

“We are honoured to collaborate with Direct Transact, a company that shares its platform, ecosystems, and deep domain knowledge to create more opportunities in the fintech ecosystem,” head of the Department of Informatics, Prof Hanlie Smuts said in a statement.

[Image – Provided. From left to right: Prof Hanlie Smuts and Prof Wynand JvdM Steyn from Pretoria University, and Mr Elmar Grobbelaar and Mr Paul de Bruyn from Direct Transact]