Tagged: Unbanked

Payments Fintech Paysafe Extends its Partnership with IntelliPay, an Intelligent Cloud Payment Service

Paysafe (NYSE: PSFE), a specialized payments platform, recently revealed that it has extended its partnership with Utah-based IntelliPay, a provider of an “intelligent” Cloud-enabled payment service (including alternative payment models). IntelliPay, which utilizes Paysafe’s payment processing platform, will reportedly be adding the Paysafecash online cash… Read More

Indonesia’s BRI Argo Partners Fintech PayFazz to Expand Digital Banking Services

PT. Bank Rakyat Indonesia Agroniaga (BRI Agro) has teamed up with local agent-based Fintech firm Payfazz. Using the API of its digital lending app Pinang, BRI Agro’s online savings and lending solutions will be offered to 250,000+ Payfazz agents. Agents can provide the same service… Read More

Indian Fintech Jai Kisan, which Aims to Offer Credit to Financially Underserved, Secures $30M via Series A

India-based Jai Kisan, a Fintech startup that is focused on bringing modern financial services to the country’s rural areas, where commercial banking institutions have very low penetration rates, revealed on Monday (May 31, 2021) that it had acquired $30 million in capital through a new… Read More

Monetary Authority of Singapore and Mojaloop Foundation to Support the Financially Underserved with Digital Currency Settlement Systems

The Monetary Authority of Singapore (MAS) and the Mojaloop Foundation revealed on Wednesday (May 26, 2021) that MAS will be joining the Mojaloop Foundation as a Sponsor-level member in order to collaborate on offering the underserved access to “affordable” financial services via digital currency based settlement… Read More

Instant Money Transfer Fintech Spoko.app Partners Sumsub, an ID Verification Firm

Instant money transfer Fintech Spoko.app reveals that it has teamed up with Sumsub, an ID verification firm that claims to offer bank-grade security. Through their partnership, Spoko.app will aim to enhance fraud protection and lower average user verification time down to a minute, in order… Read More

Wells Fargo Unveils Banking Inclusion Initiative; Seeks to Accelerate Access of Affordable Transactional Accounts For Unbanked Households

  Wells Fargo (NYSE: WFC) announced on Monday the launch of its Banking Inclusion Initiative, which is described as a 10-year commitment to help unbanked individuals gain access to affordable, mainstream, digitally-enabled transactional accounts. According to Wells Fargo, the initiative will focus on reaching unbanked communities and,… Read More

BNPL Fintech Graviti Founder Explains how his Firm Helps Unbanked Mexico Residents Make Flexible Payments on Basic Appliances

Yusef Jacobs, the 28-year-old Founder and Chief Executive at Graviti, aims to transform microfinance by allowing consumers to gain access to essential appliances. Jacobs believes that people who might not have a lot of funds will still pay for items they really need. Jacobs has… Read More

South African Fintech Adumo Secures R225 Million from International Finance Corp., IFC Financial Growth Fund

South Africa based Fintech group Adumo has secured R225 million (appr. $14.9 million) in capital from the International Finance Corporation (IFC), which is a member of the World Bank Group. The IFC Financial Institutions Growth Fund also contributed investments in order to expand access to… Read More

Tim Frost: CEO at YIELD App Reveals how Algorithmic Stablecoins Provide Censorship-Resistant Financial Services, Comments on other Fintech Developments

Tim Frost, CEO at YIELD App, which is a comprehensive Fintech app offering a wide range of DeFi services and new investment strategies, has shared his views and insights regarding the recent trading frenzy that was initiated by a group of armchair investors via Reddit… Read More

Southeast Asian Blockchain Startup Lightnet Partners MoneyGram to Provide Comprehensive Money Transfer Services

Blockchain startup Lightnet has teamed up with MoneyGram, a leading provider of cross-border peer to peer payments and money transfer services. MoneyGram will be integrating Lightnet’s technology with its fund transfer services so that customers can access a wide range of payout services across the… Read More

Fintech Fairbanc, which Offers Credit to Southeast Asia’s Unbanked, Is Now Backed by Columbia Business School

Fairbanc, the Silicon Valley-based Fintech firm that provides credit to the unbanked or financially underserved in Southeast Asia, has received financial backing from Columbia Business School’s student-run impact fund, Microlumbia. According to a release, this financial backing has come shortly after an investment from 500… Read More

Mexico based Digital Bank albo Secures $45 Million in Capital to Expand Operations into Lending and Insurance Services

Mexico-based digital bank albo has secured $45 million in capital through an investment round in order to expand its operations into lending and insurance services. Several investors took part in albo’s latest round, including Valar Ventures, Greyhound Capital, Mountain Nazca and Flourish Ventures. The digital… Read More

Global ID Verification Provider, Onfido, to Offer Authentication Services to Malaysia’s MyCash Money

Onfido, a global ID verification provider, will be offering its user authentication services to Malaysia’s MyCash Money. Onfido has also been providing similar services to other Fintech firms in the region, including BigPay and MoneyMatch. MyCash Money is a digital marketplace that’s focused on serving… Read More

MENA Region Is Ideal for Fintech Startups because it’s home to Millions of Young, Tech-Savvy Consumers

The Fintech industry in the Middle East and wider MENA region has experienced significant growth during the past several years. The State of Fintech report reveals that the number of financial technology companies in the Middle East was expected to increase from around 105 in… Read More

Indian Fintech Niyogin Acquires Controlling Stake in iServeU for $8 Million to Offer Wide Range of Digital Financial Services

Fintech firm Niyogin, which is listed on the BSE (previously called Bombay Stock Exchange and located at Datal Street, Mumbai), has acquired a majority 51% stake in iServeU for INR 592 million (appr. $8 million) in a cash and stock deal. Niyogin aims to develop… Read More

Fintech Solutions Can Enable More Widespread Financial Inclusion, Could Increase GDP of Emerging Markets by $3.7 Trillion: Report

Critical gaps in the global banking system, especially in emerging markets, have restricted business growth and development. Consumer demand cannot be effectively addressed if banking platforms are not updated to meet the requirements of individuals and small business owners. Billions of people across the globe… Read More

Fintech Investments: Dubai International Financial Center to Provide Funding to FlexxPay, Go Rise, Sarwa, NOW Money

  The Dubai International Financial Centre (DIFC), an organization that connects the MENA and Southeast Asia region’s markets with the economies of Europe, Asia, and the Americas, has made strategic investments in four Fintech companies. According to a press release, the DIFC has invested in… Read More

Philippines based Digital Financial Services Firm Ayannah Merges with Indian Payments Company Equity Capital Advisors

Philippines based Ayannah, an online financial services provider, and India’s payments firm Equity Capital Advisors (ECAPS) have merged their operations in order to provide cost-effective and more accessible financial services to South Asia and Southeast Asia’s growing middle-class population. The merged entity will aim to… Read More

Here’s Why Indonesia could be Ideal for Fintech Lending Platforms as Many Residents are Underbanked, and within Working Age

Indonesia’s Fintech sector has been growing steadily, however, the majority or over 70% of the country’s adult population is unbanked or underbanked, according to the latest e-Conomy SEA Report. This suggests that Fintech businesses in Indonesia have a good opportunity to provide modern financial services… Read More

Barcelona’s Fintech Belvo Secures $10 Million in Capital to Recruit 40 New Developers, Will Launch in Sao Paulo, Brazil

  Barcelona’s Fintech firm Belvo has secured $10 million in capital, in order to recruit between 40-50 new project developers. Belvo is also planning to establish business offices in Sao Paulo, Brazil. Y Combinator-backed Belvo maintains its second major hub and primary market in Mexico… Read More

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