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

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...
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...
Advisory Programme Will Increase SMEs Access to Finance
The European Bank for Reconstruction and Development (EBRD) and European Union (EU) launched the Advice for Small Businesses (ASB) Programme to support SMEs in Lebanon. The programme will help foster private sector growth, job creation, innovation, competitiveness, and increase SMEs’ access to finance. According to the article, SMEs in Lebanon...
Financial Products Created with Women In Mind
The largest untapped market in the world is women, according to Women’s World Banking. Financial institutions are failing to ensure their offerings work for women, however three elements with a gender-inclusive design can help counter this issue: Go beyond “gender-neutral” Segmenting by gender during the product design phase Developing the...
Medici Outlines the Challenges in the SME Lending Requirements
SMEs are still struggling to curate working capital. Medici examines the glitches in SME lending, automation of onboarding customers and loan origination and how banks can make real change in SME lending. Reported errors in the SME lending: Most of the time, banks refuse to lend money to those whose revenue is less than $2 million. Banks view SME...
SMEs Receive €475 Million in Loan Support from the European Union
The head of the EU delegation to Egypt, Ambassador Ivan Surkoš reported the European Union (EU), with support from European financial institutions will provide €475 million in loans to support SMEs. EU launched the ‘EU Facility for Inclusive Growth and Job Creation,’ which aims to provide an environment of business creation and economic...
Central Bank of Nigeria Emphasizes Increase for Credit Culture for SMEs
During a workshop for SMEs, hosted by the Bankers’ Committee, Central Bank of Nigeria’s (CBN) Senior Manager for the Development Finance Department, Chinedu Zephaniah shared that poor business habits and fragile financial systems have made it complicated to support SMEs. “At the moment, we have disbursed N170 billion to support SMEs but the...
Member News: Industry Partner GBA for Women Features Diamond Bank's Digital Innovation
Industry Partner GBA for Women says that digital solutions for product distribution are rapidly increasing banks’ ability to reach the unbanked – a segment disproportionately made up of women. During the recent All-Stars Academy in South Africa, GBA heard from two of its members who are making huge strides in this area: Diamond Bank of Nigeria -...
Financial Inclusion for SMEs is at the Core of the Economy's Potential
Financial inclusions is one of the largest challenges SMEs face today. In part two of Dhaka Tribune’s “At the Core of Our Potential” series, banker, Tarique Afzal sheds light on why this area is restricted for SMEs. · Banks are more focused on urban-based lending · Banks are at times reluctant to delegate to rural branch levels · Lack of interest...
How Paypal Became Small Business Owner (and Industry Luminary) Jim Marous' Primary Bank
Jim Marous is co-publisher of The Financial Brand and publisher of the Digital Banking Report , a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers. As a small business owner, Jim Marous shares why PayPal became his primary financial...