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Don’t Fall for the World Bank’s Bold Claims About Financial Inclusion and the SDGs
"It sounds so simple: Everyone gets access to financial services and – presto – the foundations for the SGDs will be laid." That's the key message Phil Mader and Maren Duvendack took away from World Bank economist Leora Klapper's recent NextBillion post. But that rosy scenario, they say, bears no resemblance to reality. In fact, according to their exhaustive new review of existing research, the inconvenient truth is that financial inclusion is not accelerating progress toward the SDGs – and isn't even fundamental for attaining them.
- Categories
- Finance
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Viewpoint: Here is Why Fintech Startups Should Invest in Cyber Insurance
Given the quality and quantity of data fintech startups deal with, they are more prone to a cyber-attack than any other industry.
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- Finance
- Region
- South Asia
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Mexico pushes mobile payments to help unbanked consumers ditch cash
It is planning a digital payments system run and built by the central bank that will allow Mexicans to make and receive payments through their smartphones free of charge. A pilot roll-out for the platform, known as CoDi, is expected by March.
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- Finance
- Region
- Latin America
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Machine Learning in PAYGo: What You Need to Know Before You Jump In
Machine learning is an exciting technology with plenty of potential applications in social impact business. But as Jacob Winiecki at BFA points out, the hype around the approach may make it tempting to jump in without first determining if it's the right tool for the job. He offers a clear run-down of how machine learning actually works in practice, along with three concrete steps for how a PAYGo enterprise can implement the technology, based on the work BFA’s FIBR Project has done with ZOLA, a leading PAYGo solar operator in Africa.
- Categories
- Energy, Finance, Technology
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Telecom companies in Uganda face legal battle on unclaimed Mobile Money balances
Gideon Tugume, the Executive Director of Human Rights Defenders – Uganda dragged the telecoms to court demanding that they submit all unclaimed Mobile Money and Airtime balances to the state. He says the money should be sent to the consolidated fund instead of reverting to the service provider.
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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Press release: Financial Venture Studio Seeks Next Class of Seed-Stage FinTech Startups
Collectively, FVS partners have invested in and advised many of the fastest-growing and most successful fintech startups of the last decade. The Financial Venture Studio is designed to solve for fintech-specific issues the team has seen over the last several years.
- Categories
- Finance
- Tags
- digital finance, fintech, startups
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Amazon, Western Union debut PayCode to sell goods in emerging markets and let shoppers pay in cash
Amazon has partnered with Western Union to set up a service called PayCode, which lets people shop and pay for Amazon items using local currencies that would not have been accepted on the site before, starting with services in 10 countries.
- Categories
- Finance
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Press release: CFSI & AARP Foundation Survey: Today’s Low- to Moderate-Income Adults Over 50 Face Difficult Financial Challenges
“For too many low-income older adults, the later years are a source of stress instead of something to look forward to,” said Lisa Marsh Ryerson, president of AARP Foundation. “AARP Foundation works across sectors to develop new, sustainable solutions so vulnerable older adults can achieve a more financially stable future.”
- Categories
- Finance
- Region
- North America