Tagged: underbanked

August 5, 2022 @ 6:17 am By Omar Faridi  |  

Pakistan-based Fintech firm OneLoad, which aims to serve micro-retailers, has secured $11 million in order to support a growth phase as it focuses on tapping one of the world’s largest unbanked/underbanked nations. The recent investment round has been led by Sarmayacar and Shorooq Partners, along… Read More

July 29, 2022 @ 9:06 pm By Omar Faridi  |  

Dbank, a Pakistan-based Fintech company established by two ex- Google professionals, has acquired $17.6 million via a seed round that has been co-led by Sequoia Southeast Asia and Kleiner Perkins. Brazil’s virtual banking platform Nubank, RTP Global, Rayn and business partner Askari Bank also took… Read More

April 6, 2022 @ 4:35 pm By Omar Faridi  |  

GoDo, a Fintech firm offering same-day, no-fee advances to wage earners, has teamed up with Highnote, a modern card issuance platform, in order to create the GoDo Card, a new card program that provides underbanked workers immediate access “to interim wages with no-fee advances.” Powered… Read More

February 16, 2022 @ 6:14 pm By Jairo Riveros  |  

Each day, about 10,000 Baby Boomers turn 65, qualifying themselves for Medicare and—traditionally—retirement. Retirement presents a significant shift for many Americans as they transition their financial reliance from wages to accumulated wealth and settle into their golden years. Retirement also presents a major shift for… Read More

January 27, 2022 @ 7:07 pm By Omar Faridi  |  

Hazel, the independent Fintech launched in partnership with Walmart (NYSE: WMT) and investment company Ribbit Capital, has announced that it has entered into definitive agreements to “acquire fintech platforms Even and ONE, marking the startup’s emergence from stealth mode.” The transactions, which are set to… Read More

January 20, 2022 @ 4:36 pm By Tony Zerucha  |  

Tax company H&R Block is looking to “spruce” up its bottom line with a new digital banking option targeting its millions of underbanked clients The company today launched Spruce, a mobile banking platform that includes a spending account with a debit card, and a connected… Read More

December 26, 2021 @ 9:30 pm By Omar Faridi  |  

Rapyd, a Fintech-as-a-Service firm, shared the results of a survey exploring the adoption of digital finance tools and e-commerce in Argentina, Colombia, Mexico, and Brazil. Even though the region has a fairly large unbanked population, the survey revealed that among those with active bank accounts,… Read More

December 20, 2021 @ 10:47 pm By Omar Faridi  |  

Avant, a financial technology firm that aims to give middle-income consumers access to the credit they “deserve,” has announced the official launch of Avant Banking. The launch of Avant Banking further expands the firm’s financial product portfolio of personal loans, credit cards and auto refinance…. Read More

December 13, 2021 @ 11:00 pm By Omar Faridi  |  

WeLab, a pan-Asian Fintech platform, has announced the acquisition of PT Bank Jasa Jakarta (BJJ), which is a commercial banking institution based in Indonesia, with plans to introduce its second digital bank in Asia “further to the successful launch of WeLab Bank in Hong Kong.”… Read More

November 3, 2021 @ 4:18 pm By Omar Faridi  |  

Menta, a Fintech service provider streamlining access to credit for the underbanked consumers, has reportedly chosen Agora Services to introduce its credit builder loan platform. The underbanked segment represents over 100 million US residents who are considered disadvantaged because of the shortcomings of the traditional… Read More

October 26, 2021 @ 9:07 am By Omar Faridi  |  

The Stellar Development Foundation (SDF) reveals that Flutterwave, an international payments tech firm, has introduced new remittance corridors between Europe and the MENA region on the Stellar network. Working with TEMPO, Flutterwave is focused on leveraging the Stellar network and Stellar USDC to simplify the… Read More

October 16, 2021 @ 7:08 pm By Omar Faridi  |  

KrediFazz, a subsidiary of FinAccel that operates as a P2P lending Fintech, has been issued a business license from the Financial Services Authority (OJK) via the Decree of the OJK Board of Commissioners Number: KEP-81 /D.05/2021, dated August 24, 2021. KrediFazz, a Fintech firm with… Read More

September 16, 2021 @ 9:30 am By Omar Faridi  |  

dopay, a B2B2C payments platform that aims to serve 1.7 billion unbanked workers in emerging markets, has finalized an $18 million Series A round. As mentioned in a release, dopay intends to address a steady and growing demand from businesses for cashless payroll and from… Read More

September 15, 2021 @ 11:17 am By Omar Faridi  |  

Immigrants have been neglected by traditional banking and financial institutions. Our financial systems and related practices have been developed for a consumer who has been raised in the US or has a considerable amount of financial knowledge. Our systems tend to make many assumptions as… Read More

September 9, 2021 @ 1:30 pm By Omar Faridi  |  

Crediverso, the Hispanic-owned personal finance products firm, reveals that it has introduced a bilingual platform and a financial products marketplace tool “to serve the 62M+ Hispanic consumers in the U.S., who are 2-3x more likely to be underbanked than the rest of the population,” according… Read More

September 8, 2021 @ 7:34 am By Omar Faridi  |  

Jeff App, the Latvian Fintech company offering a data-powered loan brokerage platform for unbanked or financially underserved consumers in Asia, has finalized a $1.5 million seed extension round, which was led by J12 Ventures. Jeff App has now secured a total of $2.5 million. Other… Read More

August 17, 2021 @ 5:00 pm By Omar Faridi  |  

Ximena Alemán, Co-CEO at Prometeo, the Latin American (LatAm) Fintech firm that’s leading Open Banking adoption throughout the region, recently shared key industry insights with Crowdfund Insider. Prometeo recently announced the launch of Spark, which is a free-of-cost program for high-potential startups, Fintechs, as well… Read More

August 14, 2021 @ 4:22 pm By Omar Faridi  |  

The Federal Deposit Insurance Corporation (FDIC) recently revealed that eight teams have been chosen to take part in a “tech sprint” designed “to explore new technologies and techniques” to assist banking institutions with meeting the requirements of unbanked consumers. The FDIC’s technology lab, FDITECH, introduced… Read More

August 11, 2021 @ 7:19 pm By Tony Zerucha  |  

A new Omdia whitepaper commissioned by fintech solutions provider CR2 discusses the rise of digital wallets and their influence on the unbanked and underbanked and offers recommendations on how incumbent banks can embrace digital wallets to engage with new and existing customers. It cites key… Read More

July 31, 2021 @ 9:04 am By Omar Faridi  |  

Latvia-based P2P lending platform Sun Finance has exceeded the €1 billion (appr £851.7 million) milestone in the total loans provided. The company reveals that it’s on track to end 2021 with €200 million in earnings. Established in January 2017, the Sun Finance platform has managed… Read More