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Vietnam to facilitate SMEs growth through funds, incentives
Increased access to funding and new legislations are among the measures being rolled out by the Vietnamese government to support the country’s small- and medium-sized enterprises (SMEs).Late last month, the Ministry of Planning and Investment (MPI) announced four preferential loan programmes to be made available to SMEs this year under its SME...
Banks and their partners need to face up a set of realities to manage successfully
Sometimes it is valuable to rethink basic assumptions and hopes to consider the reality of working within a bank or credit union. Example: Small Business. The small business segment offers exceptional economic value to banks. We work with one small business-focused bank whose customers provide deposits that exceed loans by 5X. That allows the bank...
Global SME Finance Forum 2017 - Meet our Study Visit Hosts
The Global SME Finance Forum 2017 will be held November 1-3 in Berlin, Germany. This annual flagship event of the SME Finance Forum, which focuses on “digitization of SME finance,” will convene senior executives from financial institutions, fintechs and regulators from both emerging and developed countries. The two day conference taking place on...
The coolness factor in banking
Except for people at Fintech Meetups or students at business schools, no one actually thinks banking is “cool”. For them, it earns money – yes. It is necessary - yes. But cool? NO. The average citizen prefers dealing with his insurance company, rather than sitting down to do his financials, and more people would wear a t-shirt sponsored by a Trump...
Qupital secures $2Mn from Alibaba to expand its SME financing platform
Qupital has secured $2 million in a seed round of funding led by Mindwork Ventures and Alibaba Entrepreneurs Fund. What’s more impressive, apart from the investment size, is that both the firms have invested for the first time in a Hong Kong-based FinTech startup. The round witnessed participation of few other investors including DRL Capital and...
Goldman Says Brazilian FinTech Will Disrupt Traditional Banks
Brazil is seeing a boom in financial technology, which, according to a new Goldman Sachs report, will chip away at the market share of the banks in the country. According to a report in The New York Times , Goldman Sachs’ new report, “FinTech Brazil’s Moment,” shows that greater than 200 financial technology companies located in Brazil should...
Frictionless Finance with FinTech
Larry Summers, former director of the National Economic Council for President Barack Obama, writes a regular column in The Financial Times. His latest piece is his take on FinTech, which has the main headline that FinTech is taking away frictions in finance. Yep. The frictions are illustrated by things like interchange fees, the length of time it...
How to Predict If a Borrower Will Pay You Back
Recently, three economists—Oded Netzer and Alain Lemaire, both of Columbia, and Michal Herzenstein of the University of Delaware—looked for ways to predict the likelihood of whether a borrower would pay back a loan. The scholars used data from Prosper, a peer-to-peer lending site. Potential borrowers write a brief description of why they need a...
SBA Head Urges SMEs To Go Global
The head of the U.S. Small Business Administration, Linda McMahon, spoke in front of the United Nations last week urging small businesses to step onto the global stage. Reports said McMahon is urging the nearly 29 million SMEs in the U.S. to export abroad, telling the UN that just 1 percent of them are currently doing so. “Businesses that export...
From FinTech to TechFin: The Regulatory Challenges of Data-Driven Finance
Financial technology (‘FinTech’) is transforming finance and challenging its regulation at an unprecedented rate. Two major trends stand out in the current period of FinTech development. The first is the speed of change driven by the commoditization of technology, Big Data analytics, machine learning and artificial intelligence. The second is the...