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Failure to Thrive: Nigeria’s Digital Financial Services Industry is Struggling – Can These Policy Solutions Help?
Nigeria leads all other emerging economies with 21 licensed mobile money operators. But high levels of unbanked and underbanked citizens have led to poor adoption rates for digital financial services. The Sustainable and Inclusive Digital Financial Services (SIDFS) initiative of the Lagos Business School has been studying ways to improve customer access and product development. In recently published research, Olayinka David-West and Ubukun Taiwo, both of LBS, reveal six policy recommendations for regulators that could help DFS to thrive in Nigeria.
- Categories
- Finance, Telecommunications
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Refugee charity turns to crypto with $1M donation from Ethereum’s founder and OmiseGo
The crypto industry is often criticized from the outline for creating wealth that exists only in digital form, is unstable and driven by greed. That’s why a new charity initiative from top figures inside the Ethereum community might make a few non-believers sit up for a moment.
- Categories
- Finance
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Mobile money services make waves in Myanmar
Seven years ago, the country had virtually no formal banking sector. Now, its clunkier commercial lenders face extinction thanks to the arrival of exciting new mobile money services whose mission is to march onwards and upwards.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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New Financial Inclusion Initiative Aims to Reach 60 Million Nigerians with 500,000-agent Network
Known as the Shared Agent Network Expansion Facilities (SANEF), the initiative entails an aggressive roll out of 500,000 agent network to offer basic nancial services, such as Cash-in, Cash-out, funds transfer, bill payments, airtime purchase, government disbursements as well as remote enrolment on BMS Infrastructure (BVN) to an estimated 50 million Nigerians that are currently under-banked.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Tackling Poverty Close to Home: Why Acumen is Boosting Financial Health in the U.S.
More than 40 million Americans live below the poverty line, and a majority live paycheck to paycheck. That's why, after nearly two decades and over $110 million of impact investments in Africa, Asia and Latin America, Acumen has expanded its focus to include the United States. Amon Anderson and Sarah Willis discuss how Acumen America, through its financial inclusion portfolio supported by MetLife Foundation, aims to build a future where low-income Americans enjoy stability, protection and prosperity.
- Categories
- Finance, Investing, Social Enterprise, Technology
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Impact investor Quona Capital plans to raise $150-200 million Fund III
While fintech remains the broader theme for Quona going forward, the company plans to broadbase its investment portfolio across sectors that can leverage fintech to deliver everyday needs in areas such as education, healthcare and insurance and small business.
- Region
- South Asia
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SimbaPay launches AI-powered chatbot that enables global money transfers via text
Digital money transfer provider SimbaPay has launched an AI-powered chatbot service which enables its customers to make international money transfers with just a text.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Press release: Alipay Expands Global Footprint Into Mexico Through Partnership With Openpay
Alipay, the world’s leading digital payments platform, operated by Ant Financial Services Group, today announced that it is further expanding its footprint in the Americas through a partnership with Openpay in Mexico. Now, Alipay’s more than 600 million active users in China will be able to use Alipay to make purchases from Openpay’s affiliated businesses in Mexico. Alipay is China’s leading payment provider and the primary means of online and mobile payment for Chinese consumers.
- Categories
- Finance
- Region
- Latin America
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