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Over 200 submissions were received across six categories, with 175 entries in the corporate categories and 29 in the individual Fintech Mentor Award category. Each day, approximately 500 micro and small business owners use their app to apply/request for a business loan. Four finalists were shortlisted in each category.
This approach has enabled CapBay to provide over MYR 3 billion (US$643 million) in financing to more than 1,700 underserved SMEs across 20 diverse industries. The company offers innovative digital financial services aimed at empowering local and regional micro, small, and medium enterprises (MSMEs).
But even by that standard, the recent COVID-related moves by consumers around the world to digitize their entire daily routines have been incredibly rapid, as Ken Moore , head of Mastercard Labs , told Karen Webster in a recent conversation. We’ve all developed new behaviors and new patterns and then repeated them over months,” Moore said. “I
Solopreneur, independent contractor, freelancer, gig worker – regardless of the name, micro-business owners can largely agree that, when it comes to traditional banking, they’re often left out in the cold. “Over the last 10 or 15 years, we’ve seen a lot of micro-businesses emerge that do a lot with fewer people.
As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. In the same way that Square built a payment-centric ecosystem for brick-and-mortar SMBs and micro-merchants, Stripe has reinvented online payment acceptance.
In other cases, like virtual reality, 3D printing, or telehealth, the crisis may change the course of the industry, enabling companies to demonstrate value that, until now, consumers have been unable or unwilling to see. For example, in 2018, 18% of American doctors reported treating a patient via telemedicine. Get the full report here.
Jessica Lam, WeLab This transition signifies a shift from merely surviving economic turbulence to thriving by leveraging improved financial frameworks and consumer trust. These efforts aim to build and maintain consumer confidence. Regulators are working to ensure that consumer consent and data security are prioritised.
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