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Fintech’s Coming to Trounce India’s Banks
India's banks, which still dominate the country's financial landscape, appear to have hardly a kick left in them. Stressed assets without any loan-loss cover now exceed $96 billion, McKinsey & Co. said last week. An overwhelming 91 percent, or $87 billion, of the provisioning gap is at state-run lenders, whose net worth would be wiped out if they took the hit on their capital.
- Categories
- Technology
- Region
- South Asia
- Tags
- fintech, mobile finance
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L.A. startup launches investing platform to deliver profits — with purpose
With offices in Santa Monica, California, the startup aims to provide consumers the opportunity to invest in six portfolios focused on a positive future: green technology, renewable energy, zero waste, clean water, healthy living, and disease eradication.
- Categories
- Investing
- Region
- North America
- Tags
- impact investing
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African chidren benefit from social entrepreneurs
Reach for Change Africa is a non-profit organization that runs incubators, accelerators and other customized programs to help local social entrepreneurs develop sustainable organizations that impact the lives of children, youth and women. In the report, a number of social entrepreneurs from the seven countries where Reach for Change Africa operates, explained how the organization’s programs helped them to develop their social ventures.
- Categories
- Investing
- Region
- Sub-Saharan Africa
- Tags
- impact investing
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OpenInvest Asks Investors to Put Their Money Where Their Values Are
OpenInvest is grown 85 percent since its soft launch last September, so Tech.Co used their seed round announcement as an opportunity to have a chat with OpenInvest CEO and cofounder Conor Murray about just how OpenInvest’s unique approach to socially responsible investing works.
- Categories
- Investing, Technology
- Region
- North America
- Tags
- impact investing
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Paytm to start India payments bank operations from May 23
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to a resident Indian, Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
- Categories
- Technology
- Region
- South Asia
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Impact Investor Omidyar Network Shows Fintech must be more User Friendly
The report findings come as a result of in-depth interviews and human-centered design prototyping sessions with consumers across 30 communities in Nagaland, Bihar, Maharashtra, Karnataka, and Telangana, covering a mix of rural, semi-urban, and urban areas.
- Categories
- Investing, Technology
- Region
- South Asia
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How Rwanda can leverage financial technology to drive inclusion
Speaking during the opening ceremony at the Kigali Convention Centre, Dr Diane Karusisi, the chief executive of Bank of Kigali, said digital services are raising the competitive bar in every sector of the economy, one of which is the banking field.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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