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Grupo Financiero Santander México Launches “Tuiio” A Financial Inclusion Program For Low Income Individuals
"Tuiio", which will have its own operating model, infrastructure and brand, is a robust financial inclusion program that will leverage technology to support the needs of Mexico's low-income segment. It aims to generate measurable social impact through productive micro-lending, a digital savings account, its own branch network, staff, ATMs, point-of-sale terminals and electronic banking.
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- Inclusive Fintech
- Region
- Latin America
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Ecobank launches mVisa across 33 African Countries
Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level - and potentially huge gains - as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P).
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- Inclusive Fintech
- Region
- Sub-Saharan Africa
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‘Cross-sell Done Well’: How One Finance App Found a Balance Between Digital and Human Touch
Field officers at the Sajida Foundation, a microfinance provider in Bangladesh, knew their clients had rich financial lives, and that some held sizable savings balances to enable their goals. They also knew these clients could earn more by converting their savings to a term deposit account. Yet it was difficult for them to offer complex financial advice, or to answer questions around tiered interest rates and differentiated products. The Foundation worked with BFA to develop an Android-based app to address these issues – Ashirul Amin discusses the lessons learned.
- Categories
- Inclusive Fintech, Technology
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Maisha Becomes First Microfinance Bank in Kenya to Offer Mobile Loans
Maisha MFB becomes the first telco-backed microfinance to launch a savings and mobile money solution in the market and the fourth financial institution, alongside banks like Commercial Bank of Africa (CBA), Kenya Commercial Bank (KCB) and Equity.
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- Inclusive Fintech
- Region
- Sub-Saharan Africa
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New Case Study Details How to Deploy Successful Agency Banking in Africa
Agency banking utilizes a network of local merchants and shopkeepers, in areas where FINCA usually doesn’t have a presence, to provide basic banking services. The agents are equipped with POS (Point of Sale) machines, a portable device that securely connects to FINCA bank accounts through biometric fingerprints.
- Categories
- Inclusive Fintech
- Region
- Sub-Saharan Africa
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Designing a Mobile Wallet for Nonliterate People: A Beginner’s Guide
There are about a billion adults in the world who can neither read nor write, but they manage to participate fully in the economy. As fintech evolves, the financial services sector must keep this significant population in mind. Vivek Anand and Saborni Poddar of MicroSave explore what designers should keep in mind when devising a mobile wallet interface for literate and illiterate customers alike.
- Categories
- Inclusive Fintech, Technology
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It’s Not Just About Price: Innovative Solutions to Africa’s Remittances Problem
Through remittances, millions of migrants in developed countries support the basic needs of loved ones in their home countries. But with limited alternatives available, substantial costs are incurred – particularly in Africa where the average cost of sending money is 9.8 percent. Barry Cooper at Cenfri looks at some innovations that have the potential not only to decrease high fees, but to increase access beyond urban areas.
- Categories
- Uncategorized
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Beyond ‘Send Money Home’: The Complex Gender Dynamics Behind Mobile Money Usage
In Kenya, gender doesn’t factor as strongly in accessing mobile money accounts as it does for formal sector accounts. This is surprising because in Africa women are less digitally connected than men. However, the networked nature of mobile money explains why more women adopt the technology. Susan Johnson writes that financial inclusion analysis and policy must factor in how women use their money, how it connects them to family and how financial services can facilitate this.
- Categories
- Inclusive Fintech, Technology
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