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Survey: Fintech Adoption Rate Grows 64% Globally
Access to “innovative” products and ease of account opening are key factors driving consumers to FinTech adoption.
- Categories
- Finance
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Press Release: Fintech Nomanini Raises $4M in Funding Round Led by Standard Bank
Through the terms of the strategic investment, Standard Bank gains a stake in the company and the ability to use Nomanini’s platform to unearth previously ‘invisible’ data on the informal retail economy.
- Source
- Press release
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Desperate Zimbabweans Use Cell Phone Transfers to Get Cash
The World Bank says increased use of mobile money is a welcome sign of a greater proportion of the population engaged in the banking sector. Yet, in Zimbabwe it is more a matter of the difficulty and the cost for ordinary folk of getting ready access to cash.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Microlending Goes Digital, Piling Debt on Millions
In Kenya, Africa’s financial-technology pioneer, there are now more people keeping money on their phones than in banks. Almost one-fifth of mobile-banking borrowers there defaulted last year – like Barasa, who has failed to pay three separate loans.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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M-Pesa Remains Primarily a Payments Tool, a 2019 CGAP Survey Reveals
The survey has revealed that an average M-PESA net balance is less than KES 1,000 ($10) and this figure remains constant whether the user has a bank account or not. These balances were the same across employment types and income levels.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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PayPal-Backed Money Lender Tala Raises $110M to Enter India
Tala looks at a customer’s texts and calls logs, merchant transactions, overall app usage and other behavioral data through its Android app to build their credit profile.
- Categories
- Finance
- Region
- South Asia
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In Sierra Leone, New Kiva Protocol Uses Blockchain to Benefit Unbanked
The National Civil Registration Commission developed the national digital identity platform with support from Kiva, a nonprofit organization based in San Francisco that allows people to lend money to low-income people around the world, as well as the United Nations Capital Development Fund and the United Nations Development Programme.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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WhatsApp in Talks to Launch Mobile Payments in Indonesia
Indonesia could become the second country worldwide where WhatsApp introduces such services, as it awaits regulatory approval from India, its biggest market by users, that has been delayed due to local data storage rules.
- Categories
- Finance
- Region
- Asia Pacific
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