Tagged: financial inclusion

May 12, 2020 @ 11:39 pm By Omar Faridi  |  

Sindhuja Microcredit, a digital and rural-focused micro finance service provider that aims to help women entrepreneurs, is planning to secure $8.7 million in capital through a Series B investment round. The investment will be reportedly be made by Norway’s Nordic Microfinance Initiative (NMI) and Carpediem… Read More

May 7, 2020 @ 7:39 am By Omar Faridi  |  

Estonia-headquartered AskRobin, a Fintech firm that manages a financial services marketplace for underbanked Latin American clients, has secured $1.7 million in capital. AskRobin’s seed round received contributions from several venture capital funds, including BENE Asia Capital, Change Ventures, Lemonade Stand, and Vereeni Early Stage Fund…. Read More

May 6, 2020 @ 10:28 am By Omar Faridi  |  

Ray Youssef, CEO and co-founder at Paxful, a leading peer to peer (P2P) Bitcoin (BTC) marketplace, recently shared his views and insights with Crowdfund Insider. Paxful says it’s on a mission to support “social justice through financial freedom worldwide.” The company offers a platform with… Read More

May 4, 2020 @ 8:25 pm By Omar Faridi  |  

Fintech firm GoBear, which offers a financial products comparison website, confirmed on May 4, 2020, that it has acquired AsiaKredit, a Singapore-based digital lender. The amount paid for the acquisition has not been shared publicly. GoBear’s acquisition has come after the Fintech company secured $80… Read More

April 29, 2020 @ 8:10 am By Omar Faridi  |  

FIS (NYSE:FIS), a financial services technology provider, revealed on April 28, 2020 that its newly formed corporate venture investment division, FIS Ventures, has introduced an initiative that will aim to invest $150 million in high-potential Fintech firms in the coming years. FIS is a publicly-traded… Read More

April 27, 2020 @ 9:18 pm By Omar Faridi  |  

In the South American country of Argentina, where most people prefer to make cash payments, a strict nationwide lockdown (due to COVID-19) has forced local consumers into considering digital banking and online payments options. Before the Coronavirus-related lockdown went into effect on March 20, 2020,… Read More

April 15, 2020 @ 7:22 pm By Omar Faridi  |  

Rewire, an international banking service provider for migrant workers, recently revealed that it’s making updates to its platform, following the Coronavirus (COVID-19) outbreak. Rewire, which is focused on developing a virtual bank for the migrant workforce, is now offering free digital and physical Mastercards and… Read More

April 15, 2020 @ 7:20 am By Omar Faridi  |  

Financial technology (Fintech) can promote greater financial inclusion by facilitating faster and cheaper digital payments. However, these opportunities come with their certain challenges, according to a report published by the World Bank and the Committee on Payments and Market Infrastructures (CPMI). The report covers the… Read More

March 12, 2020 @ 7:15 am By Omar Faridi  |  

The Facebook-led Libra stablecoin project might now have some competition. The Celo Foundation has managed to sign up 50 organizations to its “Alliance for Prosperity” program, which aims to enable greater financial inclusion by leveraging blockchain technology and helping people transact with digital assets. Giant… Read More

March 9, 2020 @ 10:46 pm By Omar Faridi  |  

U Microfinance Bank Ltd., a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat Company, has reportedly signed a grant agreement with Karandaaz Pakistan, a company that aims to promote improved access to finance for small business owners via an investment platform, and financial… Read More

February 28, 2020 @ 8:38 am By Omar Faridi  |  

Colombia-based Fintech Puntored confirmed recently that it plans to invest around COP$20 billion (appr. $6 million) into further expanding and strengthening its existing network of 75,000 payment points. Puntored’s financial services have been developed to make it easier for millions of people to conduct transactions… Read More

February 21, 2020 @ 4:34 pm By Omar Faridi  |  

JPMorgan, the largest bank in the US, and UK Aid confirmed last month that they would invest $15 million into the business operations of Catalyst Fund, a Boston-headquartered project accelerator which funds Fintech firms in order to support financial inclusion efforts in India,  Mexico, and… Read More

February 17, 2020 @ 12:47 pm By Omar Faridi  |  

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

February 3, 2020 @ 11:00 pm By Omar Faridi  |  

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

February 3, 2020 @ 8:21 am By Omar Faridi  |  

Jumio, an established provider of artificial intelligence (AI)-enhanced end-to-end identity verification and authentication services, has teamed up with CIMB Bank Philippines’ all-digital bank to offer a convenient and user-friendly digital onboarding solution to Filipinos. Having completed its first full year of business operations, CIMB Bank… Read More

February 3, 2020 @ 8:07 am By Omar Faridi  |  

Denis Pitcher, Chief Fintech advisor to the Premier of Bermuda, confirmed recently that the island country’s government has been focusing on encouraging blockchain and crypto adoption. Bermuda aims to enable greater financial inclusion with its national virtual currency in an area where residents are reportedly… Read More

January 27, 2020 @ 5:54 pm By Omar Faridi  |  

The Bank of Thailand is reportedly considering issuing licenses to digital banks, which aim to provide greater financial inclusion while catering to changing consumer requirements in the digital age. New Fintech industry participants are encouraging competition and disruption in Thailand’s banking sector. These startups aim… Read More

January 21, 2020 @ 9:01 pm By Omar Faridi  |  

Although the overall progress on reducing poverty has been steady during the past few decades, about half or 50% of the global population still has to live on less than $6 per day. Catalyst Fund is a newly established VC fund with a goal to… Read More

December 17, 2019 @ 10:33 am By Omar Faridi  |  

Bank Muscat, the leading financial services provider in the Sultanate, recently revealed that the Central Bank of Oman has approved the institution’s request to establish a $100 million (appr. OMR38.5 million) nationwide, strategic Fintech investment program. The investment program is reportedly part of Bank Muscat’s… Read More

December 16, 2019 @ 7:47 am By Omar Faridi  |  

HSBC Bank plc, one of the world’s largest banking and financial services organizations with a market cap of more than $156 billion, is reportedly working with UK-based charities to assist homeless citizens, who do not have residential addresses or government-issued IDs, to open bank accounts… Read More