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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).

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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...
Investors should see an increasing opportunity in SME private credit in 2017 says  BNP Paribas Investment Partners
Stéphane Blanchoz, CIO for Alternative Debt Management at BNP Paribas Investment Partners, explores why allocations to alternative debt and other direct lending strategies could be attractive for investors in 2017 as the segment grows. Investors should see an increasing opportunity in SME private credit in 2017, according to Stéphane Blanchoz,...
Member News: China’s Ant Financial Gets an American Base With MoneyGram
Jack Ma’s Ant Financial has gotten itself an American colony. The $880 million purchase of the remittances firm MoneyGram in a deal announced on Thursday looks like a counterintuitive bet in a de-globalizing world for the Alibaba founder’s financial services arm. International payments are a tough business. But MoneyGram gives Ant a base with...
EU Banks Link To Pull SMEs Onto Blockchain
Top financial institutions around the globe are going in on blockchain in a big way, with massive investments in R&D and beyond. Larger corporations are exploring distributed ledger, too. Now, seven major banks in Europe are looking to pull SMEs into the blockchain exploration. Reports Monday (Jan. 16) said Deutsche Bank, HSBC, KBC, Natixis,...
Big Changes, Bigger Opportunities in Digital Banking for 2017
By Scott Hess, Vice President of User Experience, Consulting and Innovation and Matt Wilcox, Senior Vice President, Marketing Strategy and Innovation at Fiserv Advancements in digital banking provide some of the most exciting opportunities in a generation of financial services. The questions will be how ready are banks and credit unions for these...