Articles

Fintechs and Banks: An Unequal Partnership

Years ago I consulted with the legacy Wachovia Bank, headquartered in Winston Salem. Back then the bank-teamed credit and line bankers on each commercial loan, terming their working relationship an “equal partnership.” In fact, when you spoke with management offline, many admitted that the credit people were a bit more equal than line personnel.

Articles

Articles

3 ways to build a more resilient SME ecosystem
Last month at the Global Entrepreneurship Congress, which took place for the first time on African soil, I saw a 14-year-old girl pitch an idea for an app to alleviate the traffic light problem in South Africa, writes Perry Kamel, senior business development Manager for SMEs in Africa at Microsoft. Traffic light outages are a huge challenge in the...
Can 'fintech' innovations impact financial inclusion in developing countries?
Financial technology, “fintech,” has been reshaping the financial services industry with the level and speed of innovation that’s simply fascinating. A month ago, my colleagues and I attended the 5th Annual Lendit USA conference to check out about the latest innovations and thinking in this field and see how we can apply it to our work. There is...
PSD2 and API Banking: Are banks ready for the challenge?
With the revised Payment Service Directive (PSD2) on the horizon, banking institutions are increasingly eager to take action - though most have yet to make a move - to get a head start on this new regulation and weather the storm of industry disruption that will no doubt ensue. To consider PSD2 a threat to banks would be the short-sighted view, as...
Access to finance, a challenge for SMEs in Fiji
This week the Fiji Export Council (FEC) sheds light on a major challenge faced by small medium enterprises (SMEs), which is access to finance. After reviewing workshops and seminars conducted by the FEC over recent years on export readiness, one of the biggest challenges for development raised by SMEs in Fiji is the availability of finance...
3 Reasons Why Collaboration Between Fintech Firms and Banks Makes Sense
The battle between banking behemoths and new-age fintech firms may seem like the classic David versus Goliath. But dig a little deeper and there may not be much merit in pitting one against the other. On the surface, one seems like an antiquated giant that’s hard to beat and the other is young, relevant and oh so agile. Fintech firms have the...
Managing Risk in Small Business Lending
Data science technology has dramatically improved access to financing and the way we manage our money. The fintech wave that began with my former company, PayPal, and the world of payments, has spread to other aspects of personal finance, from mortgages to student and auto loans to investing. This expansion was accompanied by growing concern that...
An Update on Alternative Lending
In recent weeks I have attended and spoken at a number of conferences focusing on alternative lending. The most prominent of these was in New York at Lendit 2017 with 5000+ attendees. FIC’s view of the Fintech lending space has changed significantly since we first started working in this area over four years ago. From the beginning FIC’s focus has...
An earthquake in European banking
In Britain alone millions of people make formal complaints each year about their banks. For them, Sebastian Siemiatkowski, founder of Klarna, a Swedish payments startup, brings good news. New European rules, he says, will open the door to a host of innovative services that analyse transactions, so “an app could tell you there’s a cheaper mortgage...
Expanding access to finance for smallholders one lease at a time
In rural sub-Saharan Africa, working in agriculture tends to be an extremely labor-intensive job with high risk and low payoff . As a result, new generations of farmers and other entrepreneurs are often deterred from pursuing a career in agriculture. This leaves the agricultural industry with ageing farmers and declining agricultural production...
Financial Innovations in Turkey, Interview with BKM CEO,
Could you please tell us a bit about the banking sector in Turkey? We may describe Turkish banking sector as strong, innovative, modern and well-regulated. Banks in Turkey have been highly enthusiastic about using new technologies to reach and engage with their customers. They are also very successful in adopting and launching innovative...