Fintech News

NOVEMBER 4, 2024

Funding Societies, Southeast Asian digital financing platform for small businesses, has secured its third credit facility from HSBC. The funding is part of HSBC’s ASEAN Growth Fund, an initiative aimed at supporting the growth of digital platforms like Funding Societies that serve Southeast Asian e-commerce businesses.

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Underserved Financial Inclusion Small Business Blocks 97

Fintech News

SEPTEMBER 1, 2024

Nikhilesh Goel Nikhilesh Goel, Co-founder and Group CEO of Validus said, “By leveraging Batumbu’s unique position as the largest and only profitable digital SME financing platform in the country, we are committed to unlocking new opportunities for businesses, driving economic growth, and enhancing financial inclusion.

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Financial Inclusion Underserved Small Business Finance 115

Fintech News

SEPTEMBER 19, 2024

The aim is to enhance financial access for underserved retail customers and small businesses. The consortium, which holds over 20 financial service licenses across five Asian markets, aims to create an AI-driven virtual bank that empowers underserved communities through advanced technology.

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Underserved Cross-Border Financial Inclusion Interoperability 123

FICO

OCTOBER 25, 2016

That’s why FICO has announced the FICO Financial Inclusion Initiative , a global effort to increase access to affordable credit for consumers and businesses with limited or no credit history. The post New Ways to Score Risk Can Improve Financial Inclusion appeared first on FICO. For more information: [link].

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Financial Inclusion Risk Underserved Non-Bank 104

Fintech News

JULY 1, 2024

This funding will enable Validus’ Indonesian subsidiary, Batumbu , to expand its reach and support more local businesses. The collaboration between Oikocredit and Validus aims to address the significant SME funding gap in Indonesia, where many small businesses struggle to access funds from commercial banks due to data and risk issues.

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Finance Security Underserved Financial Inclusion 105

Faster Payments Council

FEBRUARY 18, 2021

Faster Payments Council (FPC), a membership organization devoted to advancing faster payments in the United States, today announced it has launched two new FPC Work Groups: Financial Inclusion and Real-Time Recurring. For more information on the FPC, its current work efforts or to join, visit FasterPaymentsCouncil.org.

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Financial Inclusion Faster Payments FPC Cross-Border Payments 68

Fintech Review

NOVEMBER 12, 2024

By joining forces, they can combine their strengths to improve financial services and reach underserved populations. Governments and regulatory bodies aim to increase financial inclusion and make services accessible to all. This opens the door to financial inclusion, benefiting both customers and financial institutions.

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FinTech Financial Inclusion Regulatory Compliance Compliance 105

The Fintech Times

MARCH 26, 2024

As insurers strive to meet the evolving needs of a digitally-savvy customer base while addressing the persistent challenge of financial inclusion, they are increasingly turning to fintech solutions. “These solutions enhance accessibility by providing digital insurance options tailored to the needs of underserved communities.

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Underserved FinTech Financial Inclusion Risk 114

Fintech News

FEBRUARY 26, 2024

This project, set to span five years, targets the promotion of digital financial access for 20 million people, focusing on women, smallholder farmers, and small business owners in developing regions of Asia, Africa, and Latin America. said Ashley Olson Onyango, Head of Financial Inclusion and AgriTech, GSMA.

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Financial Inclusion Finance Financial Literacy Underserved 81

Fintech News

JUNE 18, 2024

This investment from global nonprofit Accion aims to help Amartha expand its platform, offering a full range of financial products and services to underserved women-led small businesses in rural Indonesia using data and AI. Indonesian microfinance fintech company Amartha has secured a US$17.5

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Underserved Small Business AI FinTech 107

Fintech News

FEBRUARY 14, 2024

million (THB 844 million) in Thai Credit Bank Public Company Limited to boost small business financing in the country with a particular focus on women-owned or led firms. 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 106

Payments Source

MARCH 8, 2016

PayPal is partnering with venture development group Village Capital to accelerate financial technology innovation for underserved consumers and small businesses in the U.S., Latin America and India.

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Financial Inclusion PayPal Underserved Small Business 63

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.

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Financial Inclusion Underserved BNPL Small Business 52

Fintech News

OCTOBER 28, 2024

These awards highlight companies and individuals whose fintech initiatives have contributed to advancing financial technology, promoting financial inclusion, and improving service delivery. Each day, approximately 500 micro and small business owners use their app to apply/request for a business loan.

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AI FinTech Innovation Payment APIs and Integration 91

Fintech News

APRIL 29, 2024

The International Finance Corporation (IFC) has partnered with KB Kookmin Card (KBC), a South Korean credit card issuer, to enhance financial access for small businesses in Indonesia and promote digital inclusion in Thailand. Kim-See Lim “Financial and digital inclusion underpin resilient and inclusive growth.

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Card Issuer Best Practices Underserved Small Business 96

The Fintech Times

NOVEMBER 6, 2024

Furthermore, the region still has a $2.5trillion credit access gap, making up over half of the global shortfall in small business financing. This enables us to further explore scalable debt financing for growth and profitability, and bolster financial inclusion for the underbanked and underserved SMEs in the region.”

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APACS Micro-Entry Economy Financial Inclusion 52

PYMNTS

OCTOBER 23, 2020

Mastercard is marking National Women’s Small Business Month by furthering its support of the female-founded impact investment platform CNote with an infusion of $20 million, the company announced Friday (Oct. This investment is part of Mastercard’s push to “help close the racial wealth and opportunity gap.”.

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Visa Underserved Small Business Credit Union 108

The Fintech Times

JULY 24, 2024

“Regulatory frameworks are being adjusted to support fintech innovations and foster a conducive environment for financial technology growth. India’s Aadhaar ) enabling easier access to financial services. Encouraging the inclusion of nontraditional data into credit bureaus.

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Finance Micro-Entry Online and Mobile Banking Financial Inclusion 58

Fintech News

AUGUST 26, 2024

The BOT aims for these new digital players to enhance financial services through the use of technology and data, improve financial inclusion, and foster healthy competition. So far, five consortia and firms, representing both Thai and regional business groups, have expressed interest in obtaining a license.

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Online and Mobile Banking Bots Financial Inclusion Underserved 117

PYMNTS

JANUARY 14, 2021

“We are delighted to draw upon the expertise of top investors who know financial services and FinTech well, so that we can continue to build and open up access to affordable and transparent financial services for millions of underserved people and small businesses, and make inroads into financial inclusion in the region.”.

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Finance Financial Inclusion Underserved Small Business 81

Fintech News

DECEMBER 10, 2023

Whether you are a small business owner or a multinational financial institution, the central challenge remains consistent—ensuring that payment instructions are accurate and complete. In APAC, financial inclusion has emerged as a driving force behind digital innovation.

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Addressing Fraud Prevention Financial Inclusion Payments 114

The Fintech Times

MARCH 5, 2024

Yabx has been on this journey to build this credit infrastructure ground up and enable financial access for the underserved. We believe access to credit is extremely important to grow the small and medium businesses which are the backbone of emerging economies. Just in 2023 Yabx disbursed over 20 million loans to 2.4

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Financial Literacy Financial Inclusion Underserved FinTech 63

PYMNTS

SEPTEMBER 22, 2017

Promoting financial inclusion — a lofty ambition targeting two billion people around the world who currently live without the ability to securely send and receive money — is about more than taking cash away, handing those consumers an electronic payments solution and opening up bank accounts for them. But balances remain at zero.

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Visa Financial Inclusion Small Business Point-of-Sale (POS) 64

The Fintech Times

MAY 7, 2024

As of April 2023, there were 1,000 active fintechs in Latin America (LatAm) with a vast majority focusing on financial inclusion, tackling the issue of 70 per cent of the population not having access to formal financial services. million users in 2019 to 29.3 million in 2022.

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Digital Payments Online and Mobile Banking Financial Inclusion Payments 63

The Fintech Times

FEBRUARY 19, 2024

Businesses navigating a new landscape Large and small businesses are adapting quickly to the cashless paradigm, accelerated by COVID-19. With so much of the world economy reshaping itself in the post-pandemic landscape, is the confidence of business leadership in the US dollar misplaced?

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Financial Inclusion Online and Mobile Banking Digital Currency Economy 58

PYMNTS

SEPTEMBER 17, 2019

France’s FairMoney , a small business and consumer micro-lending technology company operating in Nigeria, has announced $11 million in venture capital funding. Our vision is to build a holistic financial platform for underserved customers in emerging markets,” explained FairMoney CEO Laurin Hainy in a statement. “We

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Financial Inclusion Underserved Small Business Underwriting 46

PYMNTS

APRIL 26, 2018

Mastercard said the new agreement will support a “major” expansion of the program to more participating banks and financial institutions. According to Mastercard electronic payments help underserved consumers and small businesses participate in the formal economy.

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Visa Digital Payments Underserved Agreements 48

PYMNTS

NOVEMBER 15, 2018

In a press release, Grab said the launch of the remittance offering marks a “significant milestone” toward the company’s vision for on ASEAN eWallet that will improve financial inclusion for the growing middle class and micro-entrepreneurs in the region. Grab made the announcement during the 33rd ASEAN Summit.

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Financial Inclusion eWallet Cross-Border Multi-Currency 55

PYMNTS

NOVEMBER 29, 2017

According to WiseWage, which is owned by non-profit Reinvestment Partners and — similar to SOLE Financial — focuses on servicing underbanked employees, the decision to collaborate with SOLE is an effort “to move from advocacy to action in the financial inclusion space.”. Everybody wins.”.

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Payroll Financial Literacy Financial Inclusion Direct Deposit 44

PYMNTS

FEBRUARY 11, 2020

To improve the financial lives of millions of Americans, speed matters — especially for FinTechs seeking to bring new products to market digitally and to target consumers underserved by traditional banking models. A year-and-a-half ago, when we re-engaged, it seemed like a natural fit,” said Haymond.

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Visa Consumer Financial Inclusion Underserved 61

CB Insights

JANUARY 5, 2021

Digital banks striving for greater financial inclusion within this demographic need to remain aware of stressors common among seniors, whether that be fraud, difficult digital experiences, or lack of human support entirely. One way they’re positioning themselves against incumbents is by targeting historically underserved groups.

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Online and Mobile Banking Financial Inclusion Checks Federal Reserve 98

PYMNTS

NOVEMBER 27, 2019

Here in the UAE, they are underserved, yet they contribute strongly to the economy.”. Such businesses don’t always find it easy to access the banking and payment services they need, among other things. SMBs] are the backbone of many economies,” he said.

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FinTech Financial Inclusion Governance Government 66

Fintech News

JANUARY 18, 2024

Many small businesses benefited from its technology, software, and financial services. Paytm Bank’s financial services, payment services, and commerce and cloud services contribute significantly to its revenue, with the financial and payments sectors alone accounting for 75 per cent of its revenues.

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APACS Finance Cross-Border Ubiquitous 110

Clearly Payments

FEBRUARY 12, 2024

High interchange fees can eat into merchants’ profit margins, particularly for small businesses with tight budgets. As dominant players, Visa and Mastercard have significant control over interchange fee rates , which can impact merchants’ costs for processing card transactions.

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Visa Payments Payment Networks Online and Mobile Banking 84

The Fintech Times

JUNE 28, 2024

One of the most important initiatives we’ve undertaken at Small Change is the establishment of a proprietary index (The Small Change Index) that measures a broad array of factors to determine a project’s social impact. This has resulted in strong branding and strong DEI returns for Small Change.

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FinTech On-Demand Finance Financial Inclusion 63

Fintech News

MARCH 26, 2024

It offers a range of services including a white-label payment gateway for banks and institutions, and an all-inclusive payment gateway solution for merchants. #4 4 Svamaan Financial Services (India) Svamaan Financial Services is a microfinance institution that operates in India with a focus on financial inclusion and social impact.

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FinTech APACS Payment APIs and Integration Multi-Currency 94

PYMNTS

DECEMBER 18, 2018

The problem in connecting consumers to services in still-developing nations is that there is an asynchrony between what is profitable and productive for banks to offer in terms of financial products and the needs of customers and small businesses in developing nations. “It

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Underserved Product Underwriting Economy 54