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Report shows that the growing number of transactions from mobile money operations is a threat to the future of banks in Ghana
The growing trend of mobile money transactions in Ghana has been identified as a threat to the future of banks in the country.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- banking, banks, DFS, digital finance, fintech, mobile banking, mobile money
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Viewpoint: Chase’s Checkless Account Won’t Make A Dent In The Unbanked Ranks
Economists at the Kansas City Federal Reserve looked into the factors associated with unbankedness. Not surprisingly, low income was a major determinant of not having a bank account. But the authors found that "a variety of other characteristics play a role in determining these households’ banking status."
- Categories
- Finance
- Region
- North America
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JPMorgan rolls out low-fee, checkless, no-overdraft accounts
Thasunda Duckett, chief executive of Chase Consumer Banking, said she hoped the new accounts will attract more low-income individuals and people who have never had bank accounts.
- Categories
- Finance
- Region
- North America
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NatSave, Mastercard partner to drive digital transformation and financial inclusion in Zambia
The partnership supports Zambia’s National Financial Inclusion Strategy 2017 to 2022, which aims to increase financial inclusion from 59 per cent to 80 per cent.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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From Credit Cards to the ATM: Why Interoperability is the Critical Next Step for Mobile Payments
One of the first modern disruptors to established payment methods was the credit card, which allowed people to simply sign for their purchases and be billed later. Then came the ATM, which helped to establish a web of bank networks. Mobile money systems are the latest disruptor, particularly in low-income markets where banking systems have not always served customers. But to grow and be financially inclusive, mobile money will need to replicate many of the same factors that drove the popularity of credit cards and ATMs, argues Vahid Monadjem, CEO of Nomanini.
- Categories
- Finance, Technology
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Viewpoint: The Modi Years: Have banking services become more accessible for Indians?
The Jan Dhan Yojana led to an increase in the number of bank accounts. But credit facilities have not expanded.
- Categories
- Finance
- Region
- South Asia
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Kenya’s Family Bank appoints first female CEO to take on the country’s male-dominated banking industry
Rebecca Mbithi has been appointed as the new Family Bank CEO replacing David Thuku who resigned in September last year. Her appointment, if approved by the Central Bank of Kenya will make her one of the few female chief executives in Kenya’s financial services sector.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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India’s Business Correspondent Model is Revolutionary – and It’s Failing: Here’s How to Turn Things Around
For years, India's banking system struggled to reach poor, rural populations. But the global revolution in digital payments has created new opportunities to connect these households with formal finance. One such approach – the business correspondent model – has shown promise, bringing a network of tech-enabled banking agents into underserved communities. But as Moin Qazi explains, the model is facing challenges that are undermining its considerable potential. He explores some key solutions for changing this dynamic.
- Categories
- Finance
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