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Don’t Throw the Banks Out with the Bathwater: Why the 2017 Findex Shows Opportunity for Microfinance Institutions
The World Bank's most recent Global Findex report has cast significant doubt on the lofty goal of universal financial access by 2020. Signs point to the slowing of financial inclusion in many places, raising questions as to how regulated microfinance institutions should respond to the emergence of mobile money and other fintech disruptors. After examining the numbers, here’s why Scott Graham of FINCA International argues that traditional banks still serve a vital purpose.
- Categories
- Finance
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Controversy over Uganda mobile money taxes
As it stands, the introduction of the tax has caused confusion, especially over mobile money transactions.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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A two-day crash in Zimbabwe’s mobile money system shows the vulnerabilities of going cashless
Although mobile money has become the leading transaction platform in Zimbabwe, its weaknesses came into focus this week after the dominant EcoCash network in Zimbabwe went down for two days, and left many consumer businesses floundering in an already difficult economy.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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South Africa’s Social Security Agency Considering Mobile Payment Technology
Paying grants using mobile money tech could reduce costs and mean beneficiaries don’t have to travel to receive payments
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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China’s Great Leap Forward in Global Mobile Payments
Paradoxically, it was the country's reluctance to adopt conventional banking that led to almost universal adoption of mobile payments.
- Categories
- Finance
- Region
- Asia Pacific
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Press release: SmartPesa announces ICO for new Blockchain solution that provides secure credit scoring data for SMEs
Accounting for 90% of companies, SMEs in emerging markets act as key drivers of economic development and generate nine out of 10 jobs. But 40% of these companies lack access to credit, creating an annual funding gap of $5.2 trillion. SmartPesa Credible is built using Blockchain technology to provide credible Know Your Customer (KYC) information, self-declared business data and cash flow statistics on a transparent, distributed and auditable platform.
- Categories
- Finance
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The world’s first mobile-only government bond in Kenya is popular, but missed its target
Given mobile money is so ubiquitous in Kenya with over 27 million users—many of whom were unbanked—M-Akiba promised the government access to a new capital base.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Global fintech investors team up to promote responsible digital finance
While the opportunities have increased, so too have the risks surrounding digital financial services for investors, investees, customers and wider digital ecosystems across markets and regions.
- Categories
- Finance
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