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Sri Lanka Post Ushers Money Orders into the Digital Age with Sampath Bank
Sri Lanka joined hands with Sampath Bank to unveil e-Pay Mobile Cash, a revolutionary service that leverages the wide spread network of post offices, sub-post offices and Sampath Bank ATMs around the island to enable real time money transfers in a secure and convenient manner.
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- Finance
- Region
- South Asia
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Branch International Raises $70M Series B to Bring World-Class Financial Services to Emerging Markets
Branch International, a mobile “branchless bank” for emerging markets, announces a $70 million Series B investment to expand its financial offerings to additional countries. With over a million unique borrowers, Branch is already the top finance app in Africa. Branch offers credit today and plans to diversify into savings and payments in the future.
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- Finance
- Region
- South Asia
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New Case Study Details How to Deploy Successful Agency Banking in Africa
Agency banking utilizes a network of local merchants and shopkeepers, in areas where FINCA usually doesn’t have a presence, to provide basic banking services. The agents are equipped with POS (Point of Sale) machines, a portable device that securely connects to FINCA bank accounts through biometric fingerprints.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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State Bank of India to launch its own version of digital only bank soon
The country's largest lender SBI will take the lead among state-run lenders to launch branch less banking. The latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and end to end digitisation for all products and services.
- Categories
- Technology
- Region
- South Asia
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Global Mobile Money Adoption in 2015: What the Data is Telling Us
In markets where mobile money is available, 10 percent of mobile connections are now linked to a mobile money account, compared to 8 percent in December 2014, according to the GSMA. Across Sub-Saharan Africa, the growth is even starker: one in three mobile connections were linked to a mobile money account in December 2015, up from 22 percent in December 2014. A closer look at the numbers.
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- Technology
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Kiva Cofounder Raises $9.2 Million For A ‘Branchless Bank’ For The Developing World
For his new concept of a “branchless bank,” Flannery’s going the startup route with some of Silicon Valley’s best known investors.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Most Influential Post Nominee: The Female Factor: Why enrolling more women as mobile money agents can benefit service providers, customers – and the agents themselves
Research has shown that enrolling more female mobile money agents can improve customer service and increase public trust in bank products and brands. It also provides these women with a valuable source of income. That’s why the Cherie Blair Foundation for Women has partnered with FirstBank of Nigeria and the Youth for Technology Foundation to train 2,500 Nigerian women entrepreneurs as Firstmonie agents.
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- Uncategorized
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10 Challenges That Could Make or Break India’s Payments Banks: Their revolutionary potential is no guarantee
Last week, the Reserve Bank of India announced that it will issue 11 Payments Bank (PB) licenses, permitting a variety of institutions to provide a limited slate of financial services to underserved populations. The RBI hopes PBs will “revolutionize banking” in India, but their impact is not guaranteed. Here are 10 challenges PBs will face – and how they can live up to the government’s ambitious goals.
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