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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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Penta and SolarisBank team for business bank accounts for German SMEs
Two Berlin-based fintech firms, Penta and SolarisBank , have joined forces to provide German businesses with “fast access to bank accounts”. Penta offers bank accounts for businesses (including start-ups), while SolarisBank provides a Banking-as-a-Platform service and holds a full banking licence. “We are aiming to change the face of business...
Member News: Raiffeisen chooses iGTB to provide digital trade finance platform
iGTB, the Global Transaction Banking division of Intellect Design Arena Ltd, five Austrian Raiffeisen Regional Banks and Raiffeisen Bank International (RBI), a leading banking group in Austria and Central and Eastern Europe, have agreed a contract to implement a comprehensive digital trade finance platform. The deal includes provision of both an...
Where Credit Scores Are Scarce, Mobile Devices Fill In The Gaps For SME Lenders
Financial regulations forced banks to pull back from small business lending in the wake of the financial crisis as pressure to reduce risk exposure increased. Risk mitigation is also behind massive regulations like KYC and anti-money laundering rules. So while SMEs have faced a tough journey finding a bank loan across the globe — and that includes...
Funding comes to Chinese SMEs with Chained Finance
Like many of their counterparts in the world, China’s small medium enterprises (SMEs) are an economic force employing a sizeable percentage of the workforce and supplying much needed products and services to consumers and larger enterprises. But like many SMEs elsewhere these smaller businesses also struggle with staying afloat – balancing the...
Member News: Mastercard Foundation partners with three organizations to improve livelihoods of over one million African farmers
Three of the leading organizations in Africa working with smallholder farmers have joined The MasterCard Foundation to reaffirm their commitment to provide farmers with more of the financial resources and agribusiness connections they need to succeed. At a one-day workshop and learning event in Dakar, the partners outlined how the work they are...
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...
Member News: Mastercard and Unilever Join Forces to Empower SMEs in Emerging Markets
At Mobile World Congress, Mastercard and Unilever today announced a strategic partnership to collaborate on a range of joint initiatives aimed at empowering small and micro businesses in emerging markets. By combining their expertise and reach, the companies intend to unlock economic growth and further advance specific Sustainable Development...
SME Payments Innovator from South Africa Yoco Plans International Expansion
South African payment services provider, Yoco , is planning international expansion after raising funding through two foreign, fintech-focused institutional investors. The new capital from US-based Quona Capital and Netherlands-based Velocity Capital will help Yoco grow its national footprint, launch new fintech services and lay the groundwork for...
World Federation of Exchanges publishes report into SME financing & equity markets
The World Federation of Exchanges (WFE), which represents more than 200 market infrastructure providers including exchanges and CCPs, published a report into exchanged-based financing of Small and Medium Enterprises (SMEs), aimed at identifying globally-consistent barriers and opportunities for enhancing SME access to equity finance. As...
The most important take-aways from Finance Disrupted London
Where will the FinTech finance disruption come from? Banks are massive institutions. They have a lot of customers and have been on top of this business for years. Nevertheless, FinTech do not need to replace banks to disrupt finance. They can build an interface around them. Let’s take an example: what if a FinTech company would offer you to switch...