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Member News: ICICI Bank announces launch of a mobile banking application for rural customers

ICICI Bank Ltd., India’s largest private sector bank by consolidated assets, announced the launch of a unique mobile banking app for rural customers that allow them to access banking services as well as information on agri services. Anyone including non-ICICI Bank customers can also download and use the app which is available in eleven Indian languages, the statement released by the bank said.

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Crowdfunding, the solution for SMEs in South Africa?
In 2015, the South African Institute of Chartered Accountants (Saica) published the Small and Medium Enterprises (SMEs) Insights Report. The report provided meaningful insight into the depressed economic environment stifling SME growth and explored ways to improve opportunities for SMEs in South Africa. The report identified the greatest obstacle...
France’s Online Alternative Finance Doubles in Size – Crowdfunding Grows 40%
The French Crowdfunding Association (Financement Participatif France) released today the 3 rd edition of its annual industry Barometer. For the first time, the data was compiled by auditing and consulting firm KPMG , which lends to the Barometer additional weight. The association was represented, among other board members, by its chairman, Nicolas...
Singaporean Fintech Company, Funding Societies Erases Borders with an Online Lending Platform
In January last year, Riza Fansuri was in a quandary. The 37-year-old, who runs a small food supplier in a Jakarta suburb, wanted to develop new products, but that would take money. He tried applying for loans at banks, but they all turned him down because he could not provide sufficient collateral. Desperate for help, he turned to a website for...
Dubai To Open Up To Crowdfunding Platforms, As Part Of Fintech Push
The regulator of offshore financial hub the Dubai International Financial Centre (DIFC) is preparing to license loan-based crowdfunding platforms for the first time. The Dubai Financial Services Authority (DFSA) has begun a consultation process on its proposed framework for the sector, which is also sometimes known as peer-to-peer lending. The...
P2P lending: The Real Benefits and Ways to Mitigate Risk
The internet has changed many things around us. Almost nobody buys audio or video CDs today; we get them online or on Netflix at a fraction of the cost. When was the last time you met someone who sent his/her résumé through post? We all send it at no cost, through job portals/boards. We are all adopting a similar methodology to book a holiday,...
Crowdfunding: A new meaning to SME financing
Small and medium-sized enterprises (SMEs) form over 90 per cent of businesses in the ASEAN region and contribute to over 20 per cent of the economies’ GDP. Despite their steady business momentums, SMEs in the region still face a common growth obstacle – gaining access to financing – according to a study of five ASEAN economies by Deloitte. When in...
Increase in Global Lending of MSMEs to Drive the Global Peer-to-peer Lending Market Until 2020, Reports Technavio
Technavio analysts forecast the global peer-to-peer (P2P) lending market to grow at a CAGR exceeding 53% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global P2P lending market for 2016-2020. To calculate the market size, the report considers the lending...
Insurer Aviva France to Lend €50 Million to SMEs Through Crowdlending Platforms
Aviva France , together with two partners, alternative asset management firm Eiffel Investment Group and insurer AG2R La Mondiale, is launching an investment fund called “Prêtons Ensemble” (Lending together) dedicated to financing loans to small and medium-size enterprises (SMEs) provided through crowdlending platforms. Starting with an initial...
P2P Funding In Singapore - Here's A Look At How It Stacks Up Against Bank Loans
A common challenge any business will run into is funding, and there are many loan products out there to address this issue for most SMEs. Between banks and the relatively new option of peer-to-peer (p2p) lending, we did the research on these various options. How do business loans get approved? After the application process, the loan provider (the...
P2P lending in China: These are the nine key trends in alternative finance
How will P2P lending fare in a downturn? Can the industry improve securitisation practices? Why did growth slow last year? Is China really the most exciting market? What will consolidation mean for the industry?