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World Economic Forum tackles financial inclusion
"Financial inclusion is at a turning point. Due to advances in technology, the unprecedented advent of transactional and behavioural big data and greater multi stakeholder collaboration, there is a realistic opportunity to reach the financially excluded - estimated to be two billion - and the many more who are underserved", the group says in a report.
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Has global development reached ‘peak blockchain hype?’
More than simply providing digital identification documents, the system seeks to bring the population out of financial exclusion and address the challenges of the statelessness they face between the bouts of repression that gain international attention, said Noor, who teaches bitcoin mining and trading to Rohingya diaspora.
- Categories
- Technology
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Fintech startups took nearly a third of all African venture funding in 2017
While fintech is seen as disrupting the traditional financial sector in more advanced economies, in Africa it is bridging gaps that have not been addressed by the banking industry to begin with. Between 2015 and 2017, African fintech startups including names like Flutterwave and Paystack jointly raised more than $100 million.
- Region
- Sub-Saharan Africa
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Mastercard’s New Platform Helps Kenyan Micromerchants Get Credit–And Restock Faster
Without a financial history, small shop owners struggle to access loans. A new project from Mastercard helps them build up a track record of payments through digitizing their orders from local wholesalers.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Getting Real About Innovation: Why Accion’s U.S. Network Made the Leap to Digitize its Lending Operations
Technology can boost small businesses' access to finance, but can also risk trapping them in a cycle of debt. And for lenders serving lower-income entrepreneurs, these risks and rewards are more acute. Gina Harman, CEO of Accion’s U.S. Network, discusses its ambitious efforts to digitize lending operations across its national online platform in this podcast Q&A, exploring how established organizations can adapt to emerging technologies – without compromising their missions.
- Categories
- Finance
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IFMR group looks to appoint investment banks for share sale
IFMR group, which provides financial services to lower income population and the companies serving this segment, plans to go public and is in talks to hire investment banks for the same, two people aware of the development said.
- Region
- South Asia
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Report: Improved financial inclusion could boost global bank revenues by US$200b
Driving greater financial inclusion – the availability of affordable, accessible and relevant financial products – will generate sizeable economic benefits, according to the report, boosting GDP by up to 14% in developing economies such as India, and 30% in frontier markets such as Kenya.
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Bono’s Fund Makes Its First Fintech Investment, Backing Acorns
Financial technology startups are grabbing a greater share of capital from investors. Now Bono is getting in on the action.
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