Pay by Dodo
A Flagship fintech programme with the United Nations
Summary
For decades Mauritius has been a popular destination for illicit drug trafficking and more recently there has been significant growth in the trafficking of synthetic drugs. Despite the hefty prison sentences the offence carries, there are daily media reports on drug seizures and the arrest of traffickers. This also has drastic effects on these countries' population with the increase of addiction and crime.
The challenge
Driven by the UNODC's Regional Office for Eastern Africa, a groundbreaking collaboration between the private sector and the Government of Mauritius aims to create an ethical fintech ecosystem that supports the 2030 Agenda. By integrating a fintech layer into the country's financial infrastructure, the initiative seeks to identify and halt drug-related funds, addressing the negative impacts of the drug trade on local communities. This pilot program will adhere to international governance standards and support the UN's Sustainable Development Goal #17. With Pannovate's expertise in developing the necessary technology, the project aims to combat drug cartel exploitation and foster the growth of a local fintech industry. If successful, the technology could be expanded to 13 other East African countries.
A historic collaboration between the private sector and the United Nations Office on Drugs and Crime (UNODC).
The solution
Pannovate's BaaS and orchestration layer empowers clients to differentiate in core banking through its cutting-edge technology, deployable via public, private hosting, or SaaS models. With 47 fully integrated partnerships, including processors, KYC providers, and BIN sponsors, Pannovate is equipped to tackle complex challenges for major regulated entities handling large transaction volumes.
Pay by Dodo operates within a complex ecosystem involving the United Nations, government departments, and various stakeholders, requiring seamless integration to succeed. Pannovate stepped in, expanding its technology to meet Pay by Dodo's needs, including developing the necessary fintech infrastructure to identify and halt drug-related funds. By leveraging its middleware layer and compliance expertise, Pannovate connected all key systems Pay by Dodo, financial institutions, and regulatory bodies. This collaboration enabled the creation of an ethical fintech ecosystem that supports the 2030 Agenda and the UN's Sustainable Development Goal #17, while combating drug cartel exploitation through innovative financial technology.
Results
Pay by Dodo Ltd. is collaborating with experienced partners to develop a state-of-the-art payments product for Mauritius, aimed at creating a robust and ethical fintech ecosystem. With Pannovate's development expertise, the initiative not only aims to combat drug cartel exploitation but also to foster the growth of a local fintech industry. If successful, this innovative solution could potentially be rolled out to 13 other East African countries, further advancing financial integrity across the region.
Case Study
A Flagship fintech programme with the United Nations
