Tagged: financial inclusion

May 27, 2025 @ 7:59 am By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) has decided to abandon its proposed open banking rule, prompting sharp criticism from the Financial Technology Association (FTA). The FTA, an advocate for fintech innovation, has labeled the move a “handout to Wall Street banks,” arguing it undermines efforts… Read More

May 24, 2025 @ 12:16 pm By Omar Faridi  |  

FINCA, a global enabler of inclusive finance, has partnered with Thought Machine, the banking technology company, to launch “361 by FINCA”, a transformative operating platform to scale financial inclusion. To date, financial services providers (FSPs) have struggled to support the financial wellbeing of low-income customers,… Read More

May 7, 2025 @ 4:53 pm By Omar Faridi  |  

The Mastercard Center for Inclusive Growth and the Bahrain’s Labour Fund (Tamkeen) announced a partnership to explore the launch of the Mastercard Strive program in the Middle East, aimed at advancing financial and digital readiness for SMEs in Bahrain. This collaboration seeks to empower Bahraini… Read More

April 25, 2025 @ 4:19 am By Omar Faridi  |  

In emerging markets, where economic instability, currency devaluation, and limited access to traditional banking systems are persistent challenges, stablecoins are emerging as a transformative force. With a market capitalization exceeding $220 billion, these digital assets—pegged to stable currencies like the U.S. dollar or euro—are no… Read More

April 18, 2025 @ 12:20 am By Omar Faridi  |  

Chime, the San Francisco-based fintech company known for its consumer-centric banking services, continues to make strides in promoting financial progress for everyday Americans. Recent updates from US consumer Fintech Chime highlight its commitment to financial empowerment, community engagement, and thought leadership. These initiatives include a… Read More

February 28, 2025 @ 8:41 am By Omar Faridi  |  

Fintech Scotland noted that five fintech firms have each been awarded £50,000 to propel developments that support financial inclusion, accelerate financial resilience and deepen consumer engagement in financial services. FinTech Scotland, in partnership with the University of Strathclyde and University of Glasgow, announced the outcome… Read More

January 11, 2025 @ 6:09 pm By Omar Faridi  |  

nsave, the provider of “compliant” accounts abroad to people from countries with high inflation, announced the launch of an investment product, enabling people at risk of financial exclusion to “protect and grow” their wealth. The company confirmed an $18mn Series A investment led by TQ… Read More

December 29, 2024 @ 6:13 pm By Michael Wong  |  

Fintech firm Alif has announced securing a $20 million debt investment from Accial Capital, a U.S.-based impact private credit fund manager, to strengthen its Nasiya installment service and expand financial inclusion in Uzbekistan. The transaction was facilitated with advisory support from Nairang Capital and TMT… Read More

October 17, 2024 @ 7:24 pm By Omar Faridi  |  

Paxos recently revealed that it’s planning an expansion to the Stellar Network which would be in collaboration with the  Stellar Development Foundation. Paxos confirmed that it will integrate with the Stellar network, which is desribed as an open-source blockchain that’s used for a range of… Read More

August 29, 2024 @ 10:13 am By Omar Faridi  |  

During the first half of the year, CaixaBank expanded its mobile offices services to guarantee the financial inclusion to reach a total of 804 towns, “amounting to a 27% increase compared to the number of towns reached by the financial institution’s mobile offices service in… Read More

August 12, 2024 @ 3:30 pm By Omar Faridi  |  

Camilo Tellez-Merchan, Head of Digital Payments Innovation Hub, Better Than Cash Alliance, United Nations Capital Development Fund (UNCDF), and Gisela Davico, the Latin America & Caribbean Lead and Global Gender Lead, Better Than Cash Alliance have shared key insights that have released in a blog… Read More

June 19, 2024 @ 8:37 pm By Omar Faridi  |  

Central bank digital currencies or CBDCs can boost Middle East’s financial inclusion, payment efficiency, according to a comprehensive update from the IMF. 19 countries in the Middle East and Central Asia are exploring issuing a CBDC, the IMF update noted. Almost two-thirds of countries in… Read More

February 21, 2024 @ 10:02 pm By Omar Faridi  |  

In the “bustling” landscape of Pakistan, Elphinstone claims that it stands as a beacon of financial empowerment, offering “a gateway for the country’s burgeoning middle class to unlock their financial potential.” Co-founded by Farooq Tirmizi and Uzair Mahmud in 2020, Elphinstone addresses a critical pain… Read More

January 6, 2024 @ 4:34 pm By Omar Faridi  |  

Faster, cheaper, and more transparent cross-border payment services have “the potential to improve many lives by supporting economic growth, international trade, global development, and financial inclusion.” This, according to an update shared by the International Monetary Fund (IMF). The Group of Twenty has prioritized such… Read More

December 28, 2023 @ 8:55 am By Omar Faridi  |  

Cryptocurrency isn’t just here to stay – it’s the “future of money,” according to an update from Coinbase (NASDAQ:COIN). The largest crypto exchange in the US has outlined the status of digital assets while predicting a bullish future for crypto. Even in the aftermath of… Read More

December 22, 2023 @ 12:33 pm By Omar Faridi  |  

Centi is announcing the successful completion of its seed financing round led by Archblock and Bloomhaus Ventures with continued investments from existing shareholders and founders. Recognized for its proficiency in processing transactions as small as a cent, Centi claims that it  is now poised “for… Read More

November 26, 2023 @ 10:15 am By Omar Faridi  |  

Digitt+, an agri-fintech company, has been granted with a full commercial approval by the State Bank of Pakistan. This recent achievement marks “the culmination of an exciting journey that began with pilot approval, during which they onboarded 10,000 customers, facilitated transactions of worth PKR 400… Read More

November 13, 2023 @ 9:54 am By Omar Faridi  |  

Almond Fintech, a B2B technology company bridging the worlds of fiat and digital currency, is excited to announce a new funding milestone of $7 million. The funding from the investment round will aim to help broaden Almond’s rapidly expanding network in Asia, the Americas, while… Read More

October 28, 2023 @ 11:22 am By Omar Faridi  |  

Pathward, N.A., a U.S.-based financial empowerment company driven by its purpose to power financial inclusion, announced the expansion of its partnership with TabaPay, a money movement platform for merchants and leading fintech brands. The firms first announced partnering in 2020 and “the deeper alliance provides… Read More

October 27, 2023 @ 12:49 pm By Omar Faridi  |  

We recently spoke with Markus Prommik, CEO and Co-founder of Finfra, a Fintech platform that develops white-labeled lending products for non-Fintech companies seeking to integrate financial services into their platforms. Based in Jakarta, Indonesia, Finfra not only provides practical embedded lending solutions to their clients… Read More