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With 44% of UK adults facing financial vulnerability, a national strategy seeks to close the gap through policy, innovation, and education. In December 2024, HMT announced the appointment of a FinancialInclusion Committee, tasked with advising the government on developing the first-ever National FinancialInclusion Strategy.
With women at the heart of this mission, the Bank ensures that women are central to driving financialinclusion across the nation. The Bank announced that it now works with over 100,000, women business correspondents, reinforcing its commitment to financialinclusion and economic empowerment.
The Asian Development Bank (ADB) and the Mastercard Impact Fund have forged a new partnership to tackle the pressing financing challenges faced by MSMEs in Asia and the Pacific. The programme will prioritise women-led or -owned MSMEs and those engaged in climate finance. said ADB’s Vice-President for Market Solutions Bhargav Dasgupta.
With a network stretching across urban and rural areas, we can reach more people than ever, providing constant cash availability and valuable digital solutions, such as the Mukuru Wallet, to the underserved communities.
This strategic expansion aims to boost financialinclusion by providing efficient, affordable cross-border payment solutions to one of the world’s fastest-growing economic regions. High remittance fees have historically hindered financialinclusion in the region. to send USD 200.
As digitalisation reshapes finance, the industry is transitioning beyond traditional open banking into a comprehensive open finance model, enhancing both access and transparency for consumers. Fratini Passi, with 30 years of expertise in financial technology, strategically steers CBI’s developments.
This is embedded finance at work, and it’s quietly transforming the way we interact with money – without most of us even realising it. Wait, What’s Embedded Finance? If you’ve never heard of embedded finance , don’t worry. Why Is Embedded Finance Such A Big Deal? You’re probably using it every day.
The report highlights key milestones, insights, and the organizations transition into an independent foundation, further strengthening its ability to drive financialinclusion across the continent.
ZORRZ , the pioneering fintech driving financialinclusivity, has announced its strategic partnership with CLOWD9 , a B-Corp certified processing platform, to power its innovative BlueAccess Hybrid Credit Card platform. “We are delighted that ZORRZ has chosen to partner with CLOWD9! .”
This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. As the space rapidly develops, we look to highlight the latest developments, initiatives and challenges embedded finance has to offer and overcome across the globe.
The regions strong fundamentals, coupled with a growing digital economy, promise continued growth and innovation in the coming years, a new report by Royal Park Partners (RPP), a fintech-focused corporate finance advisory firm, says. billion underbanked adults. million registered users.
To promote financialinclusion and accessibility, TerraPay , a leading global money movement company, has partnered with Yape , the superapp of Peru. The demand for efficient and user-friendly financial solutions is paramount, especially among the unbanked population, which stands at approximately 40% of the adult population in Peru.
The collaboration will create a safe, inclusivefinancial ecosystem that bridges markets, enabling swift reliable payments across borders and offers financial empowerment tools to millions of Africans and businesses.
The report, titled “Her Fintech Edge: Market Insights for Inclusive Growth”, explores the representation of women within fintech portfolios and the factors influencing, and examines the performance of women customers compared to overall portfolios, considering loyalty, customer lifetime value (CLV), and default rates.
The rapid adoption of the Leja App over the past year highlights the power of local solutions tailored to underserved markets. Were proud to address the challenges MSMEs face, including limited access to affordable payment options and working capital financing.
This collaboration is designed to enhance the payment experience for merchants and consumers while driving financialinclusion across the region. This approach not only strengthens tpay’s service capabilities but also extends financial access to underserved communities, narrowing the gap in digital financial services across META.
Consumers attempting to build or improve their credit must wait for their credit report to update, which can delay major financial activities like securing a mortgage. The post Curve and Infact Partner to Bolster FinancialInclusivity Through Real-Time Credit Reporting appeared first on FF News | Fintech Finance.
The company is leveraging AI-driven solutions to enhance its offerings in areas like dining, ride-hailing, entertainment, healthcare, and finance. Ant International, the groups global arm headquartered in Singapore, has reported significant growth across its four main business pillars: Alipay+, Antom, WorldFirst, and Embedded Finance.
That’s why FICO has announced the FICO FinancialInclusion Initiative , a global effort to increase access to affordable credit for consumers and businesses with limited or no credit history. The post New Ways to Score Risk Can Improve FinancialInclusion appeared first on FICO. For more information: [link].
Seventeen cities across Colombia will now have access to inDrive Money, a service that offers income-based financing to drivers, as inDrive , the global mobility and urban services platform expands its service into the country. This will depend on their activity on the inDrive app.
The State Bank of Pakistan (SBP) has awarded Mashreq Pakistan a restricted license for pilot operations as part of the government’s strategy to unlock Pakistan’s digital potential and provide greater access to financial services to underserved consumer groups.
The mastermind behind the accelerator programme Base Camp, Outlier Ventures , the Web3 accelerator, has announced that Bando , Berry Investing , Fact Finance , Loula and IDENTI will be taking part in its Latin America (LatAm) edition. Fact Finance, Brazil Fact Finance bridges real-world data to the blockchain.
Since Singapore launched its first digital bank in 2022, five digital banksGXS Bank, MariBank, ANEXT Bank, Green Link Digital Bank, and Trust Bankhave entered the market, challenging traditional banking models and reintroducing fintech innovation to Singapore’s financial landscape.
Tarabut , the MENA region’s regulated open banking platform, is joining forces with Geidea , the Saudi-based payments solutions provider, to develop tailored SME financing solutions, subject to regulatory approvals. million businesses in Saudi Arabia, and face a financing gap of over SAR300billion (~$80billion).
Paymentology , the global issuer-processor, has joined forces with Diamond Trust Bank , a tier-one East African commercial bank, in a move hoping to help drive financialinclusion in Kenya through the embedding of financial services, and deployment of Cards-as-a-Service (CaaS).
From open banking to open finance and beyond: The future of financial data-sharing March 18 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The evolution of open banking into open finance, examining regional regulatory approaches and adoption trends. Why is it important?
The latest to do so is PayJoy , the financial service provider to the underserved in emerging markets, as it reveals how smartphones are enabling working mothers in Mexico to have financial stability. Additionally, 94 per cent of working mothers report that smartphones help them work at home and manage remote work effectively.
It means our product strategy consistently aligns with key challenges and opportunities in Africa, addressing issues like financial literacy, seamless and safe transacting, fragmented payment systems, and the high cost of infrastructure upgrades in traditional banking.
Through the introduction of Earned Wage Access and Send Now, Pay Later in the UAE, we aim to address real-world financial challenges, offering tools that empower individuals to take control of their finances. The post UAE Financial Group Expands Its Operations With ABHI appeared first on FF News | Fintech Finance.
From digital payments to decentralised finance (DeFi), these companies are solving real-world challenges like financialinclusion and cross-border transactions, while setting new global standards for innovation. Atome Financial specialises in consumer financing, ADVANCE.AI billion insurtech Matrixport 1.05
LuLu Financial Holdings , a leading global financial services conglomerate, has partnered with Abhi Middle East Limited to enhance financialinclusion and improve access to timely remittance solutions.
Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financialinclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.
Validus Group, a digital SME financing platform based in Singapore, has secured a total of US$17.57 million in debt financing from both Oikocredit and FMO to support small and medium-sized enterprises (SMEs) in Indonesia. Oikocredit has announced a EUR 2.4 million (US$2.57 said Glant Saputrahadi Tan, Director and CEO, Batumbu.
Decentralised Finance (DeFi) platforms are revolutionising financial services, particularly in emerging markets where traditional banking infrastructure is lacking. These platforms leverage blockchain technology to create open, accessible, and secure financial systems that operate without the need for intermediaries like banks.
Additionally, founders and owners may lack the financial tools and expertise needed to manage cash flow effectively, further complicating their growth potential. Despite their significant contributions to GDP and employment, SMEs in emerging markets remain underserved by traditional banking.
Visa is collaborating with the GSMA Mobile for Development Foundation to launch the Digital Finance for All (DFA) initiative. Together with the GSMA Foundation, we seek to empower those in underserved communities across the world and provide equal access to help build better financial futures for all.”
Fintech Galaxy , the UAE-based open banking and financial innovation company, is joining forces with Yabx , a leader in alternate data-based lending and loan portfolio management for underserved segments of the population, to enhance SME lending.
I recently had the opportunity to attend LendIt Fintech USA , a leading event discussing financial services innovation. Some of the top thought leaders in banking, finance, artificial intelligence, machine learning, and credit risk came together in San Francisco to discuss the key trends and innovations in our industry.
Underserved communities and businesses will now be able to benefit from a variety of accessible financial solutions by MNT-Halan. The first offering to launch in the UAE is Halan Advance, a fast, secure, and user-friendly salary financing solution, with additional services from its ecosystem set to follow.
Through strategic partnerships with innovative players such as Kalabash, KaiOS, Boost, Smile ID, as well as partnerships with financial institutions like Access Bank and Fidelity Bank to enhance cross-border payment solutions, Mastercard has been instrumental in driving financialinclusion and digital transformation in Ghana.
All of a sudden, your personal finance app can pull in your bank data and give you a unified view of your finances, or initiate a payment on your behalf – things that were near impossible in the past without your bank’s direct involvement. Open Finance says: why not? Crucially, Open Banking was just the opening act.
Codebase Technologies , a UAE-based fintech platform provider, has launched its ‘Digibanc SME Financing’ platform to address the needs of underserved Micro, small, and medium-sized enterprises (MSMEs) across MENA and APAC. This isn’t just a step forward; it’s a leap into the future of business financing.
He called the collaboration with the Dubai AI & Web3 Festival 2024 a pivotal opportunity to drive AI advancements in the financial sector. In his role on the advisory committee, Hasan Fardan Al Fardan actively champions the UAE’s ambition to become a global leader in digital finance.
The funds will be used to expand financial access for micro, small, and medium enterprises (MSMEs) in Indonesia through Validus’ Indonesian subsidiary, Batumbu. This funding aims to support Indonesian MSMEs by providing them with more accessible financing options, addressing financial barriers, and helping to drive economic growth.
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