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Press release: LendingClub Partners with Opportunity Fund and Funding Circle, Increasing Financial Inclusion and Small Businesses’ Access to Credit
Beginning this month, LendingClub will connect applicants looking for a small business loan on its platform to Opportunity Fund and Funding Circle. Opportunity Fund will leverage LendingClub's technology to provide an online application experience with prequalified offers to underserved small businesses before applying its established relationship-based lending model to fund and service loans. Funding Circle will apply its leading proprietary credit assessment process to fund fast and affordable loans to established, creditworthy businesses. This alliance is intended to expand efficient access to affordable credit to a broader range of small businesses.
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- Finance
- Region
- North America
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Cambodia, Singapore In Cross-Border FinTech Pact
The banks have also agreed to share data on emerging markets. The MOU dictates that the banks will train FinTech startups with an eye on cross-border transactions.
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- Finance
- Region
- Asia Pacific
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Naspers Arm PayU Buys Fintech Startup Wibmo in $70 Million Deal
Founded in 1999 by Setlur and Veena Mistry, Wibmo provides digital payment security technology in India and other emerging markets.
- Categories
- Finance
- Region
- South Asia
- Tags
- digital payments, fintech, startups
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From Critic to Cheerleader — David Malpass’ First Week at the World Bank
Addressing staff — and then later members of the press — Malpass appeared at pains to show he has little appetite for the kind of organizational shake-up former president Jim Kim undertook early in his first term. Instead, Malpass littered his remarks with references to the bank’s “twin goals” and liberally praised staff and his leadership team.
- Categories
- Finance
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Can Ecsponent Find Profitable Traction at MyBucks?
It seems that under Van Niekerk, MyBucks — like BFS — has found itself under mounting financial stress. MyBucks’ interim results to end-December showed a net loss after tax of €4.8m (R78.2m), with the net asset value of the company negative by €2.56m (R42m).
- Categories
- Finance
- Tags
- fintech
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Nigeria Establishes Mobile Money Agents Loan Scheme
The Central Bank of Nigeria announced it would facilitate loans of up to NGN500 million ($1.4 million) to mobile money agents and registered companies in the sector as part of a plan to boost financial inclusion.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Viewpoint: How To Successfully Scale Up While Keeping In Touch
For many social entrepreneurs, scaling their work to an international stage would fulfill a lifelong goal. Yet, in the process of scaling and operating a global social enterprise, it can be easy to lose sight of operations on the ground, with potentially disastrous consequences.
- Categories
- Finance
- Tags
- scale, social enterprise
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Dubai DIFC Launches Roadmap for Fintechs Entering Middle East and Africa
The report, launched at the conference, provides recommendations and guidance for FinTech firms looking to capitalise on the growth potential of the region. It draws on the experience of a select number of FinTech firms, as well as a venture capital fund and leading banks that have established businesses or plans for the market.
- Categories
- Finance
- Region
- North Africa & Near East
- Tags
- fintech