Articles

Cybersecurity for Mobile Financial Services: A Growing Problem

Mobile phones are helping millions of low-income customers to access financial services for the first time, but they are also exposing them to new cyber threats they could never have imagined. The Serianu 2017 Africa Cyber Security Report estimates that cybercrime in mobile-based transactions costs businesses $140 million per year in Africa. Why is this becoming more common? And what can providers and policy makers do to prevent it?

Articles

Articles

Can Online Dispute Resolution Change the Way Global MSMEs Do Business?
While alternative dispute resolution has exploded in popularity for larger businesses, it hasn’t found its way to the MSME community. As a friend in the arbitration business said recently, “micro businesses couldn’t afford the coffee at most arbitration centers.” But the emerging field of online dispute resolution, or ODR, promises to change the...
Cybersecurity for Mobile Financial Services: A Growing Problem
Mobile phones are helping millions of low-income customers to access financial services for the first time, but they are also exposing them to new cyber threats they could never have imagined. The Serianu 2017 Africa Cyber Security Report estimates that cybercrime in mobile-based transactions costs businesses $140 million per year in Africa. Why...
Qatar Attracts Regional and International Trade Business
Qatar the upcoming “free economic zone,” according to the article will attract business in a monumental way. HSBC, a long standing bank in Qatar is excited about the upcoming advantages that will be presented with this opportunity. “We are seeing credit appetite from every player in this market. HSBC will be lending higher in volumes over the next...
New Labor Policy Provides Free Tax Advice for SMEs
A new labor policy in Australia will provide SMEs free legal advice to resolve tax related issues. According to the article, Labor will provide four million dollars over four years to create 10 tax clinics across the country. The policy will provide assistance and advice to vulnerable taxpayers and SMEs. Small businesses accounted for about a...
Global Remittances Are On The Rise
Global remittances are expected to rise from $468 billion in 2010 to $667 billion in 2019 along with new investment channels bringing in an extra $73 billion a year in Commonwealth countries. Crowdfunding platforms have the potential to make a significant difference for SMEs in developing countries, however rules and regulations around...
EBRD Provides A €10 Million Loan To Sparkasse Banka Makedonija
Through the European Bank for Reconstruction and Development’s Western Balkans SME Competitiveness Support Programme the Sparkasse Banka Makedonija will receive a €10 million loan to boost lending for SMEs. According to the article, the loan is aimed at improving the competitiveness of local companies, with at least 60 percent of the funds aimed...
Bank Interest Rates on the Rise
According to a report by report from the Hồ Chí Minh Securities Company, interest rates have risen by 0.46 percent for short-term loans, they are now 7 to 9 percent and for medium and long-term loans 9 to 12.5 percent. According to the article, this increase is being used in the hopes of reducing money supply to tackle inflation. A strict monetary...
Effective Risk Assessment Models and Alternative Data Proves Beneficial for Retail Lenders
Effective risk assessment is instrumental in the lending business. According to Medici, technology companies are creating risk assessment models with increasingly inclusive variables that are allowing lenders to reach the previously unbankable population. Alternative data can improve risk assessment for retail lenders. According to the article,...
BSTDB Provides US $15 Million Loan to Support  Armenian SMEs
The Black Sea Trade and Development Bank will support the financing of SMEs in Armenia through a US $15 million loan to Ardshinbank. The loan will benefit 100 SMEs and impact 3,600 jobs in Armenia, according to the article. SMEs in Armenia are a key driver and contributor to the country’s GDP, generating up to 40 percent of GDP. “As a development...
Nordic Banks Provide SMEs with More Fintech-Based Services
Nordic Banks are shifting their focus toward more technology implementation to gain a competitive advantage against non-traditional fintech competitors. According to the article, several Nordic banks have plans to move their branch services completely online. “Like many banks, we must face the reality of change,” said Timo Ritakallio, OP Financial...