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

Five Highlights from the Africa SME Finance Forum: Day 1
Through the first Africa SME Finance Forum, IFC, financial institutions and entrepreneurs are seeking to find solutions to close the $331 billion SME finance gap across the continent. The conference on May 15-16 explores local and global best practice SME banking solutions to harness digital technology, e-commerce and blockchain, to promote youth...
How Digital Innovation Can Increase Small Business Access To Finance In Asia
Small- and medium-sized enterprises (SMEs) are a key contributor to economic activity around the world as an important source of jobs, growth, and innovation. Despite their essential role, SMEs receive a disproportionately small share of credit from the financial system, a trend that persists across developed and developing countries, including in...
Guga Stocco on Banking Innovation
Brazilian Guga Stocco is an advisor and board member of companies like B3, the biggest stock market in the world. He co-founded Domo Invest, a fund that raised R$ 100 million for investments in Internet and Fintech. Stocco was also responsible for the creation of the first fully digital bank in Brazil with more than 300,000 clients and projects...
Reinventing Small Business Banking Through New FinTech Trends
This Medium articles shares why finTechs hold potential to change the course of small business banking. According to ADB survey in 2017, with only 20 percent of firms using digital finance platforms, small businesses are looking for game-changing solutions in payments, capital and equity spaces. Article topics discussed include address information...
How Unbanked Filipinos Get Access to Credit
Financial Inclusion Week is a week of global conversation on the most important steps to advance financial inclusion. This year, stakeholders explored how new products and partnerships are empowering customers. Building on the momentum, SME Finance Forum member, Mambu, shared stories of their clients who have gone digital to inspire organisations...
Digital Trends for SMEs to Close the Credit Gap
As a new SME Finance Forum member, Mambu was excited to participate in the Global SME Finance Forum and host a study tour at their Berlin office. The Forum gathered over 400 representatives from SME lenders and banks, as well as donors and investors to discuss how the digital revolution can help SMEs gain better access to financial services. But...
Balazs Topor on Innovation in Digital Banking
Balazs Topor is SME Product & Segment leader at Raiffeisen Bank. He has more than 15 years’ experience in SME banking and in-depth expertise in customer value creation, segment differentiation and product design. Continuing with the SME Finance Forum Interview series , member Strands wanted to address another underserved segment - SMEs - and...
Digital Credit: Data Sharing Can Improve Product Diversity
A more open, consumer-friendly data environment should benefit consumer welfare, competition and providers’ risk management strategies. Many lenders do not have sufficiently deep or comprehensive data to offer customized products that go beyond small-value loans for personal consumption (e.g., business loans to microentrepreneurs based on...
Look at financial inclusion for innovation
We overlook the innovation of the unwanted, says Chris Skinner, which is where the reinvention of finance is emerging. In concluding my recent thoughts, I’m left reflecting on a similar idea to the one I blogged about a couple of weeks ago: about a world turned on its head . This time, it’s a different take on the same conundrum. We live in the...
Five Fintechs Disrupting MSME Finance
Big data is changing everything from the way we shop to how we travel. Financial technology companies (fintechs) are now following in the footsteps of giants like Amazon, Airbnb and Uber to transform the banking industry in the digital age. Fintech solutions have shown particular promise across emerging markets where big data is used in advanced...