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UN General Assembly creates International Day for small, medium-sized enterprises

Recognizing the importance of micro-, small- and medium-sized enterprises in achieving the new global development goals, the United Nations General Assembly today designated 27 June as International Day for those actors.

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Member News: CreditEase invests $30m via online lenders
CreditEase Wealth Management, an arm of Chinese fintech giant CreditEase, has today unveiled investment deals worth $30m with OnDeck and LendingHome. The money comes from CreditEase Wealth Management's Offshore Private Credit Fund (OPCF), which raised $80m from its high net worth Chinese clients in late 2015.
Nigerian fintech startup Lidya raises $1.25m SME funding
Launched in September of last year by Tunde Kehinde and Ercin Eksin, also founders of Nigerian online logistics startup Africa Courier Express ( ACE ), Lidya aims to improve access to credit and finance for Africans by using technology to help individuals open accounts, build credit profiles and access credit. The US$1.25 million funding round was...
Fintech Tracker: Can CreditMonk Make User Reviews Relevant To Small Business?
What’s the first thing you do when planning a holiday? If you are one of the millions of users of a service like TripAdvisor, you probably check what other travelers have to say about a particular destination or a place to stay. One bad review and you may think twice before booking. What if you could do the same for a company you were dealing with...
For SMEs, FinTech Is Valuable And Perhaps Mysterious
FinTech may be an evolving sector within payments, at times with so much fluidity that would-be customers may not know just what they can glean from those new companies, especially when it comes to banking and moving money across borders. In one series of statistics that speaks to at least some lack of visibility of FinTech among small to medium-...
Open APIs to shake up small business banking market
The global fintech industry, with an estimated 12,000 fintechs and counting, has changed the way small businesses can manage their money in all kinds of ways. A small business in Huddersfield or Cardiff can manage online payments with Stripe, take card payments with iZettle, borrow peer-to-peer via Funding Circle, raise equity via Crowdcube,...
How Fintech is Bridging the Big Bank Gap
Big banks have always been averse to risk. They also tend to view small and medium-sized businesses as high-risk, choosing to restrict investment, in terms of both lending and services, for the SMB market. A 2015 credit survey by the Federal Reserve found that smaller institutions were 18 percent more likely to approve a small business loan than...
MIF announces first integration program between FINTECHS and Financial Institutions
In the context of the 2017 World Mobile Congress, the IDB's Multilateral Investment Fund (MIF) announced the creation of FINCONECTA , a program that integrates solutions between technology companies (FinTechs) and financial institutions (FIs). FINCONECTA is a 10-month program that hopes to promote financial inclusion. Under the coordination of...
Silicon Valley Tried to Upend Banks. Now It Works With Them
In 2011, Brett King was promoting his book, “Breaking Banks,” and creating a start-up that he hoped would do to the banks what Amazon did to the retail industry and Facebook did to media. “We had grand ideas of being the Facebook of banking, and being a new form of bank account,” Mr. King said recently. Six years later, his company, Moven, has...
Digital Lenders Association of India & PwC Publish Report on Impact of Fintech
The Digital Lenders Association of India (DLAI), a private association formed by leading Fintech companies in the online lending space such as KredX, Capital Float, Lendingkart, Finomena, Rubique, Zest Money, Indialends and Neogrowth, has released a report entitled Union Budget 2017: Impact of Digital Financial Services . The report, published in...
Member News: Ecobank Fintech Challenge 2017
Ecobank has earmarked $500,000 (about Rwf410 million) to support startups and young innovators across the African continent.The funds are part of the Ecobank Fintech Challenge 2017 meant to support young entrepreneurs on the continent.However, entrepreneurs will first convince the Pan-African lender by showcasing bankable business plans and...