Articles

The Benefits of Fintech Partnerships in Emerging Markets

According to an IFC report, there are a few key challenges that have long limited the digital transformation of financial services in emerging markets. These challenges include: low access to formal financial services; low income and financial-literacy levels; underdeveloped technology solutions; and weak infrastructures.

Articles

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...
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...
Approach to Enterprise Support is Failing Africa’s SMEs
Despite providing immense financial support for the economy, SMEs still face a multitude of challenges and lack support. According to the article, 72 percent of all startup funding went into only three companies in the region (Africa) in the span of two recent years. Supply and demand are the causes inhibiting SMEs’ access to support. On the...
Closing Africa’s MSME Finance Gap
Africa's Times of News , provided insights to the IFC estimation that Africa’s finance gap for small and medium enterprises (SMEs) stands at $331bn. Micro, small and medium enterprises (MSMEs) form the backbone of most African economies and investment in this sector will significantly enhance job creation and wealth development. The informal...
How India’s Small Finance Banks Aim to Take Financial Inclusion to the Next Level
India has lended to hundreds throughout the unbanked community and is the largest microfinance market in the world, according to Next Billion. Microfinance in India has its pros and cons. It’s able to reach customers that mainstream financial institutions fail to notice, but it also lacks adequate regulation, making it dangerous for borrowers. The...
The Cost of Being Poor: Is Fintech the Answer?
In the UK 1.5 billion adults are “unbanked” according to Ronnie Lavie, Managing Editor for the Fintech Times. A vicious cycle, of financial exclusion has interrupted lower-income populations from enjoying the benefits from the fintech industry. Sofie Blakstad, Founder and CEO of financial trust platform ‘Hiveonline’ shared, “Wealth disparity is...
Will the Promotion of Arab Women as Entrepreneurs Make a Difference?
One in three start-ups in the Arab World is led by women—a higher rate than in Silicon Valley, according to an IFC article. Improving access to finance and promoting digital platforms are key to helping them succeed. The article says that many entrepreneurs from the region believe that technology is one of the few spaces where everything is viewed...
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 -...
Democratization of Startup Financing
In the U.S. financial services market, regulations such as Reg A+ and Reg CF have opened up new avenues for startups to raise financing from a large number of unaccredited investors along with accredited investors. Among the 636 companies that filed forms to conduct new offerings under Reg A+ or Reg CF, 80% of them (514) filed for Reg CF. In...