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Online Lenders Are Innovating With Purchasing Cards
Remaining competitive in an ever-growing marketplace can be a challenge for lenders. Experts say, cost of funds remains high from upmarket lenders and margins are thinning by the day. Yet consumers and small business borrowers are demanding faster underwriting and quicker speed to funding, and investors continue to demand record-breaking quarterly...
BB, IFC to Aid Development of Bangladesh Women SME Entrepreneurs
The International Finance Corporation (IFC) has secured a deal with the Bangladesh Bank for the development of women SME entrepreneurs. IFC will provide technical assistance to develop credit guarantee scheme for women entrepreneurs under the project, "Catalysing access to finance for women SME entrepreneurs in Bangladesh”. Designed to provide...
Kailash Baheti, CFO, Magma Fincorp Talks SME Expansion
Kailash Baheti is the Chief Financial Officer of Magma Fincorp in India. As he helps strategize the company’s future growth, his responsibilities include planning for, and controlling the capital and revenue expenditures, while continuously working towards achieving the planned profitability and looking at acquisition opportunities for inorganic...
Survey Shows Late Payments Affect SME Cashflow
In partnership with BDRC Continental, Ultimate Finance conducted research into the impact of late payments on the SME sector. The figures showed that late payments cause cashflow problems for UK SMEs. The main political parties have said they plan to end the issue with legislation such as late payment reporting. Overall, 81 percent of SMEs state...
SME Lending in Ireland Increased
The Strategic Banking Corporation of Ireland (SBCI) published its midyear 2017 update, which said €855m in lending supported 21,132 SMEs by the end of June 2017. This is an increase of 57% on the €544m in SBCI-supported lending at the end of December 2016. Agriculture accounted for the highest percentage of at 23.2 percent or 3,687 SMEs. The...
National Australia Bank Builds SME Lending Features
The National Australia Bank (NAB) is looking to build business outside of home loans, mostly in SME lending. A recent report in The Australian revealed news that the NAB is adding new features to its small business lending unit, QuickBiz, in an effort to build market share. According to reports, NAB is rolling out an extension of the online...
Do Credit Guarantee Scheme Help De-risk SME Lending?
SMEs are responsible for delivering so many economic benefits, but a lack of access to adequate finance is one of the biggest constraints SMEs face worldwide. It is estimated that between 50% to 70% of SMEs in emerging markets are either not funded or under funded by the formal financial sector. To address these issues, the World Bank has focused...
Tencent Credit Score Launching Soon On WeChat & QQ
Tencent credit ratings will be available to check directly through QQ and WeChat, according to reports. While Tencent has been using its scoring in its lending businesses, it has not before made the scores available to WeChat and QQ Pay users. Their data sources for scoring are different than Ant and Alibaba in China. A more developed and widely...
Gender Intelligence for Banks— Moving the Needle on Gender Equality
Gender Intelligence for Banks — Moving the Needle on Gender Equality is the result of a joint partnership between the International Finance Cooperation (IFC) and Habib Bank Limited (HBL) in Pakistan. The initiative’s goal is to promote gender equality within banks and to develop insights into how gender intelligence programs can positively impact...
Member News: Strands Expands in the United States with Huntington Bank on Board
Having collaborated on 600 product implementations with banks in some 36 countries to date, Strands’ rapid global expansion has now grown to incorporate an ambitious venture with U.S.-based bank, Huntington National Bank, reaffirming its presence in the North American market with the only fully-customizable digital money management solution in the...