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GSBI Social Entrepreneurs Get Funded
In September, the Global Social Benefit Institute’s (GSBI®) partner Global Alliance for Clean Cookstoves announced the winners of its grants to spark business growth and empower women. Nearly US$2 million in grants were awarded to entrepreneurs working to create a global market for clean and efficient household cooking solutions, saving millions of lives, creating livelihoods, and restoring human dignity. This year the Alliance awarded 16 grantees from a diverse range of initiatives falling under three main funding mechanisms: the Women’s Empowerment Fund, Spark Fund, and the Catalytic Small Grants Program. The focus of all of the grants is to empower women and help small businesses scale their operations.
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Women More Likely to Look at Social/Environmental Factors When They Invest, While Men Want High Returns
When it comes to ethical investing, which is the fairer sex?
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- impact investing
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Citi Launches FinTech Unit to Lead Mobile-First ‘Revolution’
Citigroup has launched a unit in its global consumer bank dedicated to the development of its mobile banking services and promoted Heather Cox to be its CEO.
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Indian Microfinance Institutions Have Just Busted a Myth
By definition, microfinance is the business of giving tiny loans to people who do not have access to formal banking services. The Investopedia website defines microfinance as a type of banking service that is provided to unemployed or low-income individuals or groups who would otherwise have no other means of gaining financial services. “...the goal of microfinance is to give-low income people an opportunity to become self-sufficient by providing a means of saving money, borrowing money and insurance,” it says. In India, microfinance institutions (MFIs) cannot collect deposits, but sell insurance products, besides offering small loans that are typically paid back in weekly or monthly instalments.
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- South Asia
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Report: Account Screening Consumer Reporting Agencies Impede Banking Access for Millions
While a lack of financial education is often cited as the key reason tens of millions of people across the country don't have bank or credit union accounts, in fact, millions are shut out from the mainstream banking system because of a small group of little-known companies who manage databases used by financial institutions to determine whether or not to allow a consumer to open an account. A new report released today by the Cities for Financial Empowerment Fund (CFE Fund) and the National Consumer Law Center (NCLC) entitled "Account Screening Consumer Reporting Agencies: A Banking Access Perspective"outlines the tremendous and deeply flawed role that "account screening consumer reporting agencies" (CRAs) play in determining whether consumers can obtain an account. The report raises concerns about these companies, financial institutions' use of their reports, and offers solutions both for industry leaders and regulators.
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Banking on Refugees: Helping those affected by global conflict to establish an ID and a lifeline to financial services
For many refugees, especially those who have been forced to quickly and unexpectedly leave their homes, establishing who they are is a challenge. To raise awareness of this critical situation, the Digital Finance Institute, a think tank for financial technology, is working on a financial inclusion project called “Banking on Refugees.”
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AT Capital and Life.SREDA Leads Series B Round for Lenddo
Lenddo, the world’s leader in using non-traditional data for credit scoring and online verification, today announced it has closed a Series B investment to further support the company’s accelerated growth and meet global demand. The investment was led by new investors AT Capital and Life.SREDA, with participation from existing investors Omidyar Network, Blumberg Capital and Golden Gate Ventures.
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- credit scoring
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Investors Unwittingly Support Unethical Industries
More than two thirds of investors do not know whether the activities of industries or companies they are investing in are ethical.
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- impact investing