The Fintech Times

NOVEMBER 9, 2024

In the last five years, Sri Lanka’s economy has struggled greatly. Back in 2012, Sri Lanka had the highest financial inclusion rate in South Asia with two-thirds of its population having access to formal financial accounts. From being one of the strongest markets in South Asia, it has since fallen from grace.

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Economy Online and Mobile Banking Central Bank Financial Inclusion 83

The Fintech Times

DECEMBER 26, 2023

Dmitry Borodin, head of decision analytics at Creditinfo, discusses the importance of using alternative data to achieve fair and accessible finance for underserved populations, including those with little or no credit history, small and medium enterprises (SMEs), and young and female demographics in emerging economies.

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Financial Inclusion Underserved Small Business Finance 57

The Fintech Times

JANUARY 10, 2024

In December 2023, Tenpo , the Chilean digital bank, called out the US corporation for failing to take into account financially inclusive payment methods that were popular among Chileans. The campaign aims to promote freedom of payment choice popular with locals – ensuring financial inclusion. Not necessarily.

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Financial Inclusion Economy Innovation Venmo 70

Fintech News

OCTOBER 21, 2024

Initiatives like QRIS (Quick Response Code Indonesian Standard), a national standard for QR code payments launched in 2019, have allowed for standardization, making it easier for businesses and consumers, while collaboration between the government and fintech firms have helped enhance financial inclusion through clear regulations.

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Financial Inclusion Embedded Finance Payments Push-to-Card 137

Finovate

JUNE 21, 2024

In a statement, the company noted that the funds raised value the company “in line” with the company’s Series D round from 2021. We are excited to leverage this financing round to continue to expand and strengthen our offerings to empower more stakeholders across Mexico’s economy.”

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Financial Inclusion Payment APIs and Integration Legal Framework Cross-Border Payments 64

PYMNTS

JANUARY 22, 2021

In " A Look Forward: What Executives Wish for America and the World in 2021 ," Herrero discusses how his firm's community-based digital literacy and entrepreneurship programs are harnessing technology and connectivity to improve education provision and livelihood outcomes for previously disadvantaged groups.

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Financial Inclusion Economy Agreements Small Business 73

The Fintech Times

SEPTEMBER 3, 2024

per cent in 2021, despite the challenges of the covid-19 pandemic, according to the World Bank. Further findings from the World Bank, also found that the country’s gross domestic product (GDP) per capita was around $3,950 establishing the country as a low-middle income economy. per cent in 2015 to 18.1

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The Fintech Times

OCTOBER 23, 2024

According to the World Bank , the country has a gross domestic product per capita of around $2,389 – while its economy is reliant on energy resources in the Timor Sea. Tackling these challenges Despite these challenges, the fintech industry could certainly play a role in improving financial inclusion for citizens of Timor-Leste.

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Fintech News

SEPTEMBER 1, 2024

This funding aims to support Indonesian MSMEs by providing them with more accessible financing options, addressing financial barriers, and helping to drive economic growth. Since 2021, Validus has disbursed S$5.17 Batumbu has reported growing profits over the past two years and consistently achieved EBITDA margins exceeding 50%.

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Financial Inclusion Underserved Small Business Finance 113

Clearly Payments

OCTOBER 7, 2024

The COVID-19 pandemic has reshaped industries and economies worldwide. Cash Usage Decline : The World Bank reported that cash usage in advanced economies declined by nearly 50% during the pandemic, with consumers opting for digital and contactless payment methods instead. trillion in 2021, a 25% increase from 2020.

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The Fintech Times

NOVEMBER 14, 2024

All four have historically been very cash-reliant, with access to traditional financial services being restricted. In fact, all their economies would be considered low-middle income based on gross domestic product (GDP), excluding Turkmenistan. In fact, 97 per cent of the total transactions in 2021 were done digitally.

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FinTech Online and Mobile Banking Financial Inclusion Central Bank 70

Fintech Finance

NOVEMBER 13, 2024

“The partnership will deliver an expanded range of financial products and a card issuance program to serve the unique financial needs of both senders and recipients, supporting financial inclusion across Central America.” And cryptocurrencies allow for that, “ Godoy commented.

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Visa Financial Inclusion Underserved Cryptocurrency 52

The Fintech Times

OCTOBER 29, 2024

In the two decades following this, internet usage grew, albeit slowly – from 10 per cent in 2012 to over 54 per cent in 2021. This move enabled formal financial services to spread to smaller cities for the first time – beginning to close the financial infrastructure gap between the urban and rural areas.

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FinTech Financial Inclusion Consumer Protection Transactions 57

Fintech News

MAY 28, 2024

Embrace Financial Inclusion One of the key drivers behind the success of Nubank has been its unwavering commitment to financial inclusion — a major focal area for APAC digital banks as well. According to a 2021 report by the Asian Development Bank, an estimated 1.1 trillion by 2025.

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APACS Financial Inclusion Online and Mobile Banking Disaster Recovery 121

The Fintech Times

OCTOBER 25, 2024

The country’s journey from a cash-dominated economy to a digital leader began to take shape in 2016, a pivotal year for India’s financial arena. Accelerating financial inclusion Though demonetisation was abrupt, it accelerated digitalisation in India, with a significant impact on financial inclusion.

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Digital Payments FinTech Online and Mobile Banking Financial Inclusion 57

Fintech News

FEBRUARY 14, 2024

MSMEs are the backbone of Thailand’s economy, constituting 99.6 Despite their economic significance, MSMEs encounter a substantial financing gap, which, as of 2021, stood at approximately US$41 billion. Jane Yuan Xu “Dedicated financing for MSMEs, including WMSMEs, is critical for an inclusive and sustainable economy.

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Financial Inclusion Non-Bank Underserved Finance 103

The Fintech Times

AUGUST 8, 2024

per cent to the non-oil gross domestic product (GDP), their role in the economy is vital. The digital payments market in the MENA region is projected to reach $9billion by 2028 according to GlobalData , a 124 per cent increase from 2021, driven by convenience and accessibility. per cent in 2022 to 19.4 per cent within the next decade.

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The Fintech Times

MAY 29, 2024

Much of the Middle East is focused on enabling a cashless economy, with Saudi Arabia’s Vision 2030 setting a target for its financial sector to achieve 70 per cent of non-cash transactions by 2030 and the United Arab Emirates (UAE) actively promoting digital payments. per cent of its population engage with it.

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Digital Currency CBDC Cross-Border Payments Cross-Border 109

Fintech Finance

SEPTEMBER 4, 2024

Founded in 2021 by entrepreneurs Perseus Mlambo and Alessandra Martini, Union54 has quickly gained prominence in Africa’s fintech sector. This collaboration between the two key players aims to champion an inclusive digital economy, reinforcing their shared commitment to making transactions safe and accessible for everyone.

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Debit Card Visa Payment APIs and Integration Instant Payments 97

The Fintech Times

JULY 29, 2024

per cent in gross merchandise value (GMV) to the digital economy in 2024. The forecast comes after UnaCash compared the volume of the Philippines’ BNPL market from 2020 to 2023 to the growth rate of the Philippine digital economy during the same period. per cent) and 2022 (4.19 per cent) values.

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BNPL Consumer Financial Inclusion Economy 57

Finovate

JULY 5, 2024

“This is a significant milestone for Ascend Money, which not only validates our commitment to innovation and financial inclusion in Thailand but also demonstrates a growing interest and confidence in Ascend Money’s potential,” said Ascend Money Founder and Chairman Suphachai Chearavanont. In 2021, the company received a $1.5

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Financial Inclusion Underserved BNPL Small Business 52

The Fintech Times

MAY 17, 2024

As Mastercard and ABHI unite to advance financial wellness across the region, this partnership also signifies a leap toward fostering a secure digital economy. “This collaboration fosters financial wellness and ignites transformative change, propelling us toward a brighter, more inclusive financial future for all.”

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Visa Financial Inclusion Embedded Finance Payroll 57

Fintech Review

JUNE 4, 2024

But specific trends in Uzbekistan’s financial landscape are our real source of optimism. Crucially, financial inclusion and a payments revolution are the accelerants in this market. Macroeconomic Growth and Transformation Clearly, Uzbekistan’s macroeconomic tailwinds must be part of any explanation of this phenomenon.

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FinTech Financial Inclusion BNPL P2P 109

Fintech News

FEBRUARY 26, 2024

billion in 2021 to US$77.5 The commitment to financial inclusion is particularly pronounced in emerging markets and developing economies (EMDEs), where fintech firms are actively extending financial products and services to segments historically neglected by traditional financial institutions.

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FinTech Consumer Financial Inclusion On-Demand 133

The Fintech Times

SEPTEMBER 10, 2024

In 2024, China’s fintech landscape is playing an increasingly central role in its economic development, as the country continues to solidify its position as the world’s second-largest economy. China’s economy is diverse, with leadership across various sectors, including manufacturing, agriculture, and financial services.

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FinTech Online and Mobile Banking Digital Currency Central Bank 57

Fintech Finance

MAY 16, 2024

As Mastercard and ABHI unite to advance financial wellness across the region, this partnership signifies a leap toward fostering a secure digital economy. “At ABHI, we’re embarking on a journey with Mastercard to redefine financial empowerment. .

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Visa Financial Inclusion Embedded Finance Payroll 52

PYMNTS

OCTOBER 15, 2020

The move is being made, according to the release, because of the need for accessible benefits among gig and independent economy workers, who don't often have them — alongside the flexibility to keep benefits as they change jobs. The gig economy has only expanded amid the pandemic.

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The Fintech Times

OCTOBER 21, 2024

Often regarded as one of the most stable economies in the world, the conditions in New Zealand appear ripe for fintech to step up its role and enhance the region’s economic development. New Zealand also has a strong and well-established financial services sector. But can the island overcome its challenges?

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FinTech Economy APACS Financial Inclusion 52

The Fintech Times

SEPTEMBER 5, 2024

Founded in 2021 by entrepreneurs Perseus Mlambo and Alessandra Martini , Union54 has quickly gained prominence in Africa’s fintech sector. Together, the organisations will foster an inclusive digital economy. This will be made all the more effective with secure financial transactions enabled by Paymentology.

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Payment APIs and Integration Debit Card Financial Inclusion Visa 57

Fintech News

AUGUST 12, 2024

The report, titled “Fintech – powering India’s US$5 trillion economy by fostering innovations, enabling inclusion and building a sustainable future”, provides an overview of the current state of fintech trends in India. Holistic inclusion, beyond financial inclusion Holistic inclusion is another key theme in the financial sector.

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Embedded Finance FinTech Non-Bank Cross-Border 104

The Fintech Times

APRIL 22, 2024

” The global supply chain finance market was valued at $6billion in 2021 and is projected to reach $13.4billion by 2031, growing at a CAGR of 8.8 A global issue MSMEs run 70 per cent of the world’s GDP and play a significant role in shaping growth, innovation, and recovery in the global economy. per cent from 2022 to 2031.

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Underserved Finance Technology APACS 67

The Payments Association

NOVEMBER 18, 2024

It addresses the potential of De-Fi to enhance financial inclusion and efficiency, while also discussing the challenges of integrating these systems within existing regulatory frameworks. million in late 2021, with projections indicating continued expansion. What’s next? million DeFi users , while Asia anticipates 16.49

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Stablecoins Distributed Ledger Technology (DLT) Digital Currency Caps 88

The Fintech Times

FEBRUARY 27, 2024

Fostering financial inclusion Michael Wallis-Brown, VP of mobile FS, Ericsson Characterised by their swiftness, accessibility and innovation, digital wallets offer practical solutions for managing expenses during economic challenges, explains Michael Wallis-Brown , vice president and global head of mobile financial services at Ericsson.

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Financial Inclusion Online and Mobile Banking Transactions Consumer 101

The Fintech Times

FEBRUARY 19, 2024

How businesses and countries are moving to a cashless societies Michael Brauneis, managing director and global financial services industry leader at Protiviti In an era of technological advancements and evolving consumer preferences, the global economy is witnessing a historic shift towards a cashless society.

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Financial Inclusion Online and Mobile Banking Digital Currency Economy 57

PYMNTS

DECEMBER 14, 2020

“We are committed to providing innovative solutions for gig workers that drive financial inclusion,” said Marco Margiotta , CEO of Payfare. Since the inception of Payfare, we have quickly become a name synonymous with digital banking and instant payout solutions for the on-demand gig economy.”.

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Direct Deposit Financial Inclusion Settlement On-Demand 95

FICO

OCTOBER 6, 2021

Nominations are due December 3, 2021 , and winners will be announced on January 28, 2022. Financial Inclusion. The impact on health, resourcing, the economy and supply chains has been wide and varied and these awards shine a spotlight on how companies have managed to thrive. New ESG Champion Category. Cloud Deployment.

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PYMNTS

OCTOBER 16, 2020

With gig-economy participation rising and U.S. healthcare costs soaring, anything that can reduce the burden of medical expenses on the often-overlooked freelancers who are driving the digital economy would be a big win. 15) following the partnership’s announcement. It just makes sense.”.

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Visa Economy Push-to-Card Enrollments 116