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Weathering a Perfect Storm – Part 1: The Challenges Facing Fintechs in Emerging Markets During COVID-19
Fintechs have proven their potential to deliver financial services to low- and middle-income customers in emerging markets. But even the most innovative approaches can fail in an economy devastated by COVID-19. In this article – the first in a two-part series – analysts at MSC explore the challenges and opportunities the pandemic brings to the fintech sector.
- Categories
- Coronavirus, Finance, Technology
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Stronger Together: Why MIX and the Center for Financial Inclusion are Joining Forces
Yesterday came news that two key players in financial inclusion are joining forces: MIX, for nearly 20 years the chief data resource for inclusive finance, and the Center for Financial Inclusion, a leading independent think tank housed at Accion. Tillman Bruett at DAI and Greta Bull at CGAP discuss the significance of this merger for the organizations and the sector.
- Categories
- Finance
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An Unlikely Mobile Money Success Story: How Somalia’s Civil War Laid the Foundation for a Cashless Society
Somalia has been ravaged by civil war, and the repercussions of the conflict continue to this day. Yet out of this violence and economic turmoil, a thriving mobile money ecosystem has emerged. According to Ahmed Muhamud Yuusuf at Hormuud Telecoms, the country has become the world’s first truly cashless economy. He explores the many positive impacts this accomplishment has had.
- Categories
- Finance, Technology, Telecommunications
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Debt ‘Bigger Threat Than Virus’ in Cambodia
Many MFI loans are collateralised by land titles, leaving millions at risk of losing their homes and property should they default. Those forced to sell their land face abject poverty.
- Categories
- Coronavirus, Finance
- Region
- Asia Pacific
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Press Release: Wave Money And Ant Financial Services Group Forms Strategic Partnership
The Myanmar Government plans to increase financial inclusion in the country from its current 48% to 60% by 2023.
- Categories
- Finance
- Region
- Asia Pacific
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Viewpoint: How Emerging Fintech Can Help Latin America Deal With the Challenges of COVID-19
Currently, there are 703 fintech startups operating in Latin America, with more than 50 percent being launched in the last six years. Still, more can be done to expand this burgeoning market, with endless socioeconomic benefits.
- Categories
- Coronavirus, Finance, Technology
- Region
- Latin America
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Formal Insurance for Informal Labor: How Microinsurance Can Cover Young Workers in the Gig Economy
The gig economy is a growing source of employment for youth in emerging markets. But these workers often face a lack of social benefits, including access to insurance – and this vulnerability has been highlighted by the COVID-19 pandemic. Analysts at MSC discuss some innovative ways insurers can extend some of the formal economy's protections to these informal workers.
- Categories
- Finance
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How Mastercard’s CEO is Working Toward Financial Inclusion During the Pandemic
“I believe that digitization is a mechanism to deliver inclusive growth,” he said, “but digitization is also the vehicle for those who are left out to feel even further left out.”
- Categories
- Coronavirus, Finance
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