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

Underserved 104

Underserved Small Business AI FinTech 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.

Finance 103

Finance Security Underserved Financial Inclusion 103

PYMNTS

FEBRUARY 13, 2020

Small business owners have historically faced a unique challenge in the banking world: Financial institutions (FIs) can sometimes fail to clearly define their small business services, blurring the lines between personal and corporate banking and forcing an SMB to fit somewhere within that ambiguity.

Small Business 61

Small Business Payment APIs and Integration Economy Finance 61

Lending Front

JUNE 6, 2021

But while the economy in general is expected to boom, many small businesses are still in recovery mode. Of course, many firms opted to apply for fully forgivable PPP loans instead of traditional loans, seeing as the second round of PPP had funds earmarked for underserved small businesses. Enter community banks.

Small Business 52

Small Business Community Banks Economy Non-Bank 52

Fintech News

JULY 30, 2024

Launched two years ago, GXS focuses on serving financially underserved groups, including gig economy workers and small businesses, primarily through the Grab app. According to Bloomberg , the bank’s losses expanded to US$152.1 million in 2023, up from US$113.7 million the previous year, as it accelerated its operations.

Underserved 105

Underserved Assessments Small Business Volume 105

The Fintech Times

APRIL 9, 2024

As BaaS evolves, it is helping fintech innovation reach new markets and underserved communities; which has the potential to greatly improve financial inclusion across the globe. BaaS means these businesses can focus on what makes them unique and inclusive.”

Financial Inclusion 119

Financial Inclusion Underserved Non-Bank Embedded Finance 119

PYMNTS

FEBRUARY 8, 2017

Denver-based Greenline Ventures is opening up a new fund to help finance small businesses in the U.S. 7) that it has created a fund to provide SMEs with between $250,000 and $2 million in an effort to support job growth and small business success. The fund will target minority- and women-owned businesses, Greenline added.

Small Business 41

Small Business Underserved Finance Origination 41

PYMNTS

DECEMBER 27, 2019

SMBs have traditionally been underserved by Main Street banks and payment providers,” he said, adding that historically, the banking industry has positioned itself to service SMBs with physical bank branches. Connecting Through Data. The key to open banking’s rising adoption in the SMB financial services market, he said, is data integration.

Small Business 53

Small Business Payment APIs and Integration Credit Union Underserved 53

Fintech News

SEPTEMBER 1, 2024

Harish Venkatesan Harish Venkatesan, Head of Corporate and Business Banking, HSBC Singapore said, “As one of the leading MSME digital financing players in the ASEAN region, we are pleased to support Validus in playing an instrumental role in promoting financial inclusion to underserved small businesses in this region.

Financial Inclusion 113

Financial Inclusion Underserved Small Business Finance 113

PYMNTS

MAY 4, 2017

Top FIs are rolling out their Small Business Week contributions. Capital One and Santander are two banks that both announced Wednesday (May 3) their perspective efforts to support small businesses as Small Business Week continues. So when small businesses flourish, everyone wins.

Small Business 40

Small Business Underserved Economy Industry Trends 40

Fintech Review

NOVEMBER 6, 2024

Without access to basic banking, individuals struggle to save securely, access credit, or invest in their businesses. Fintech companies are now focusing on these underserved populations, aiming to break down financial barriers with innovative digital solutions. Alternative credit scoring is helping small businesses thrive.

Financial Inclusion 110

Financial Inclusion FinTech Online and Mobile Banking Cross-Border Payments 110

The Fintech Times

MARCH 26, 2024

These innovative technologies not only enable insurers to streamline operations and enhance customer experiences but also play a pivotal role in extending financial services to underserved communities. “These solutions enhance accessibility by providing digital insurance options tailored to the needs of underserved communities.

Underserved 113

Underserved FinTech Financial Inclusion Risk 113

CB Insights

APRIL 11, 2018

Technology corporates and fintech startups alike are turning their attention to Main Street, and the financial needs of small and medium-sized businesses (SMBs). Want the full expert post? Become a CB Insights customer. If you’re already a customer, login here.

Small Business 46

Small Business Underserved FinTech Accounts 46

PYMNTS

SEPTEMBER 20, 2016

The payments industry is a fairly large pie, but the way things are currently set up is skewed to favor larger vendors and businesses — a $4 trillion industry in the U.S. million small businesses make up about 26 percent of the overall payments industry but are responsible for 79 percent of its total fees.

Small Business 80

Small Business Business Payments RFP Processors 80

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. ” said Moon Cheol KANG, Managing Director of KB Kookmin Card.

Card Issuer 93

Card Issuer Best Practices Underserved Small Business 93

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.”.

Visa 108

Visa Underserved Small Business Credit Union 108

The Fintech Times

DECEMBER 26, 2023

Many individuals and small businesses grapple with a common challenge: limited access to traditional banking services. This underserved group encompasses those with minimal or no credit history, small businesses, and emerging demographics, including the youth and female populations.

Financial Inclusion 57

Financial Inclusion Underserved Small Business Finance 57

Fintech News

NOVEMBER 20, 2024

An underserved B2B payment market Deng explained how his extensive experience in payment systems and money movement at organizations including Alipay and Visa motivated him to tap into the underserved B2B vertical. But in B2B payments, the size of that market is much larger, ten times larger than business-to-consumer (B2C).”

Cross-Border Payments 67

Cross-Border Payments Cross-Border B2B Due Diligence 67

Fintech News

DECEMBER 13, 2023

Operating in Indonesia, Singapore, Thailand, and Vietnam, Validus utilises proprietary data and AI to provide financing solutions to underserved SMEs. Validus has disbursed over US$3 billion in loans to small businesses across Southeast Asia since its establishment in 2015.

Due Diligence 103

Due Diligence Underserved Finance Small Business 103

Payments Source

SEPTEMBER 3, 2018

While there are automated reconciliation and straight-through processing (STP) solutions for large businesses, small businesses, in particular, continue to be underserved due to their smaller and less frequent invoices, contends Blair Jeffery, COO of Noventis.

Process 71

Process Underserved Reconciliation Digital Payments 71

Finovate

JANUARY 30, 2024

Trucking industry software platform Trucker Path announced this week it has tapped online lending marketplace Lendio to embed small business lending tools within its mobile app. ” Since its 2011 launch, Utah-based Lendio has functioned as a matchmaker between small businesses and lenders.

Finance 64

Finance Online and Mobile Banking Small Business Underserved 64

The Fintech Times

AUGUST 23, 2024

These events will serve to highlight the work Future Finance is doing across its three focus areas: advice lending insurance Jack Stanbury, senior project manager of Future Finance The events will also offer financial institutions and small businesses interested in the research project a way to get involved.

AI 94

AI Blockchain Finance FinTech 94

Fintech News

JUNE 5, 2024

Additionally, there has been a significant rise in the number of Foreign Business Owners (FBOs) with businesses incorporated in Singapore, making up nearly 31% of the bank’s clientele as of 31 May 2024. ANEXT Bank continues to focus on serving the underserved MSMEs. ” said Toh Su Mei, CEO of ANEXT Bank.

Micro-Entry 105

Micro-Entry SARS Multi-Currency Cross-Border 105

The Fintech Times

SEPTEMBER 12, 2024

He stressed that low-income and underserved communities are facing severe challenges the most, such as rising prices, social unrest, and climate change impacts. In fact, poverty levels in many developing countries remain above pre-pandemic levels.

FinTech 73

FinTech Embedded Finance Underserved AI 73

The Fintech Times

SEPTEMBER 19, 2024

TBC Uzbekistan has launched a waiting list for its upcoming business banking service, TBC Business. The service will offer key features such as paperless account setup in three minutes, 24/7 payment services, as well as tools to help businesses manage their financial operations.

Underserved 57

Underserved On-Demand Economy Small Business 57

Fintech Finance

SEPTEMBER 25, 2024

We’re looking forward to working closely with KaiOS to bring the best of our technology, scale, and expertise together to drive growth for emerging markets around the world.” “At KaiOS, our mission is to connect underserved communities with the digital world.

Visa 91

Visa Economy Digital Payments Enrollments 91

PYMNTS

MAY 8, 2020

A new report says the Small Business Administration (SBA) failed to follow several congressional mandates in implementing a loan program designed to aid businesses during the COVID-19 crisis, The Wall Street Journal reported. Businesses raced to apply for the initial $340 billion of the Payroll Protection Program (PPP) funds.

Underserved 66

Underserved Payroll Small Business Origination 66

PYMNTS

JUNE 22, 2020

The nonprofit Opportunity Fund — which makes loans to small businesses owned by low- and moderate-income immigrants, women and other underserved clientele — started 2020 fairly optimistically. First, for every dollar someone invests in a small business, 50 percent to 60 percent of that stays in the local community, Urrutia said.

Small Business 98

Small Business Underserved Participant Government 98

PYMNTS

JULY 9, 2020

adoption is typically limited to contexts in which an individual may be making a purchase in a retail setting on behalf of a company: a professional on a business trip paying for lunch, for instance, or a delivery driver refueling while on the road. ” Driving Small Business Growth. In some markets, like in the U.S.,

B2B 82

B2B Cross-Border Cross-Border Payments Small Business 82

PYMNTS

APRIL 23, 2019

LendingClub, Opportunity Fund and Funding Circle announced on Tuesday (April 23) a collaboration aimed at providing small businesses with more affordable credit. The aim is to expand efficient access to affordable credit for more small business owners. billion by 2023.

Small Business 46

Small Business Underserved Underwriting Assessments 46

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 Chiagozie Nwabuebo, Vice President of Global Growth & Social Impact, Visa.

Financial Inclusion 77

Financial Inclusion Finance Financial Literacy Underserved 77

Fintech Review

NOVEMBER 12, 2024

By joining forces, they can combine their strengths to improve financial services and reach underserved populations. JPMorgan Chase and OnDeck JPMorgan Chase partnered with OnDeck, a fintech specialising in online small business loans. Fintech companies, on the other hand, offer agility, innovation, and cutting-edge technology.

FinTech 105

FinTech Financial Inclusion Regulatory Compliance Compliance 105

PYMNTS

JANUARY 5, 2021

Longtime small business microlender Opportunity Fund is teaming up with a trio of credit unions (CUs) as part of the nonprofit’s bid to invest $1 billion in “marginalized businesses” across the country over the next two years. The San Jose-based community development financial institution, or CDFI, on Tuesday (Jan.

Credit Union 79

Credit Union Small Business Underserved Agreements 79

PYMNTS

JUNE 19, 2020

More help for certain small business owners could be on the way if Congress approves another round of Paycheck Protection Program (PPP) loans. The Prioritized Paycheck Protection Program (P4) Act would allow businesses with fewer than 100 employees to get a second loan. In the House, U.S.

Small Business 91

Small Business Shutdown Underserved Treasury 91

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. The International Finance Corporation (IFC) has made a substantial equity investment of up to US$23.8

Financial Inclusion 103

Financial Inclusion Non-Bank Underserved Finance 103

PYMNTS

MARCH 10, 2020

The bank has its sights set on small businesses, startups and freelancers. NorthOne, which has an API-enabled platform, says it was built specifically for small businesses, from the ground up. The bank said it signed up 1 percent of all new small business accounts in the U.S. are less prevalent.

Small Business 54

Small Business Payment APIs and Integration Underserved ATM 54

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.”

APACS 52

APACS Micro-Entry Economy Financial Inclusion 52