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Kenyan Consortium Launches Mobile Banking App
CBK Governor Dr. Patrick Njoroge said, "Until now, lending to MSMEs has been constrained by the lack of reliable information to assess their creditworthiness. The innovation in this product is the use of all data on customers' transactions to fill this gap. In that sense it is revolutionary."
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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The Number of ATMs Around the World Has Fallen for the First Time
Bank customers are increasingly turning to their mobile phones for routine financial services, and moving away from cash in favor of credit and debit cards.
- Categories
- Finance, Technology
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Fintech Can Cut Costs of Remittances to Latin America
Our chart of the week shows Latin America’s share of remittances transmitted with mobile money along with its overall share of remittances on a global scale. As the chart shows, Latin America’s use of mobile money both to send and receive remittances is relatively low—despite the region’s high share in total world remittances, which was about $80.5 billion in 2017.
- Categories
- Finance
- Region
- Latin America
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Everything Investors Need to Know About the War on Cash
Physical forms of currency -- cash and personal checks -- are losing favor among global consumers to alternative forms of payment, including debit and credit cards, digital wallets, mobile commerce platforms, and, in some circles, even cryptocurrencies.
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Kenya, Rwanda top region in financial inclusion
Kenya and Rwanda have the highest proportion of their adult populations accessing financial services, a newly-published report says, making them East Africa’s most financially inclusive economies.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Moving the World Toward Meaningful Financial, Social and Economic Inclusion: Welcoming Our Newest Partner, MicroSave Consulting (MSC)
NextBillion is proud to announce our newest partner: MicroSave Consulting (MSC). The organization is a boutique consulting firm that has been a leading voice in financial inclusion for 20 years – and we have worked with them informally for years to share their insights and analysis with our readers. As we expand these collaborations into a formal partnership, we're looking forward to boosting our coverage of MSC's ongoing efforts to push the world towards meaningful financial, social and economic inclusion, unlocking the benefits of financial access for low-income customers.
- Categories
- Finance
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Report: New mobile money propositions have the potential to reduce the world’s unbanked population by more than a third
“Simply providing access to financial services is not enough. To achieve any real impact, people also need to become active users of financial products.”
- Categories
- Finance, Technology
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Report shows that the growing number of transactions from mobile money operations is a threat to the future of banks in Ghana
The growing trend of mobile money transactions in Ghana has been identified as a threat to the future of banks in the country.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- banking, banks, DFS, digital finance, fintech, mobile banking, mobile money
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