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The Superplatforms are Coming … And They Will Transform Financial Inclusion
With their big brands, big budgets and big data, superplatforms like Google, Amazon, Facebook and Alibaba already know more about most banks’ customers than the banks themselves. As these internet giants make increasing inroads into financial services, what are the implications for low-income customers – and their existing providers? David Porteous of BFA and Olga Morawcynski of MasterCard Foundation explore how these platforms are reshaping the face of financial inclusion around the world.
- Categories
- Finance, Technology
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Brazilian Fintech Nubank Launches Debit Card To Reach 120M Clients
Brazilian fintech Nubank has launched a debit function for its card offering as well as the ability to withdraw cash from ATMs, in a move that aims to extend its reach to as many as 120 million customers.
- Categories
- Finance
- Region
- Latin America
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Alipay to acquire 45% shares of Pakistan’s Telenor Microfinance Bank
Alipay is a part of the internet giant Alibaba, which is Chinese retail, internet, technology, and AI company. On the other hand, Telenor Microfinance bank is Pakistan’s first scheduled microfinance bank that provides small loans to people who aim to set up their own business to come out of poverty.
- Categories
- Finance
- Region
- South Asia
- Tags
- banking, banks, MFIs, microfinance
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Press release: OPIC and Liberty Mutual Insurance Launch $1 Billion Agreement to Catalyze Private Sector Investment in the Developing World
This is OPIC’s first agreement with a U.S. owned insurance company to share credit risk across a global portfolio of new OPIC-originated loans to commercial banks and other non-bank financial institutions.
- Region
- North America
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Netherland’s FMO arranges US $ 50mn syndicated loan for Nations Trust Bank
This syndicated transaction is FMO’s first repeat deal for NTB, following a subordinated loan which was provided 8 years earlier to further the bank’s ambitious growth strategy.
- Categories
- Finance
- Region
- South Asia
- Tags
- banking, banks, development finance, emerging markets, LMICs, SMEs
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Diving into the Gap: What Separates Savers from Non-Savers?
In three years, the gap between the poorest 40 percent and the richest 60 percent nearly doubled across many developing countries. Meanwhile, the gap between primary and secondary school graduates has also doubled – and these inequalities in income and education are more significant than ever in dividing savers and non-savers. Scott Graham at FINCA International analyzes the latest FINDEX numbers to explore how we can reconcile a decline in savings, while poverty is largely falling throughout the world.
- Categories
- Finance
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Ahead of Traditional Banking: How Africa Employs Blockchain For Financial Inclusion
On September 27, at the 73rd Session of the U.N. General Assembly (UNGA), Sierra Leone’s president Julius Maada Bio made an announcement where he declared that his country had set a new goal to create a national, blockchain-based credit bureau to “radically transform” the country’s financial inclusion landscape.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Metlife launches their i3 program in Bangladesh
Regional Director for Asia at MicroSave Manoj K Sharma said: “Although the mobile financial services in Bangladesh have been very successful, it is time to build upon this success story and translate it into a larger play around financial inclusion.”
- Categories
- Finance
- Region
- South Asia
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