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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.
Financial services, digital and fintech An account from the Asian Development Bank (ADB) illustrates the state of Bhutan’s financial services sector around 2010. In terms of financialinclusion, 76 per cent of the population had a savings bank account, and just over one-fifth had access to loans.
This week’s edition of Finovate Global features news from the fintech industry in Nigeria. Africa’s newest fintech unicorn raises $110 million African fintech Moniepoint is the continent’s latest fintech unicorn. The Nigerian fintech is one of seven African startups to make this year’s list.
Airtel Payments Bank is committed to empowering India with accessible and inclusive banking. With women at the heart of this mission, the Bank ensures that women are central to driving financialinclusion across the nation.
Southeast Asias fintech industry is flourishing, driven by soaring adoption of digital payments, alternative lending, and wealthtech. It notes that while COVID-19 accelerated the digital shift, Asia-Pacific (APAC) still face significant financialinclusion challenges with 820 million unbanked and 1.8 billion underbanked adults.
Mukuru Zimbabwe Financial Services CEO, Doug Tait-Knight, says: Mukuru takes its role as a fintech driving financialinclusion seriously. The post Mukuru Launches Mobile Wallet in Zimbabwe to Bolster FinancialInclusion appeared first on FF News | Fintech Finance.
Payments giant Mastercard is expanding its collaboration with Paymentology , the global issuer processor, to facilitate card issuance for fintech companies in South Africa. “We are equipping fintech companies with market-relevant solutions that enable them to scale effectively. .
The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. 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.
Network International (Network), a leading payment solutions provider in the Middle East and Africa, has signed a memorandum of understanding (MOU) with GIM-UEMOA , the regional payment scheme which promotes electronic payments across the banking, financial and public administration sectors in West Africa.
The Saint James Municipal Corporation and Mastercard have announced the signing of a Memorandum of Understanding (MOU) designed to foster digitalization as a catalyst for financialinclusion in the municipality.
Mexico in Focus: Open Banking and FinancialInclusion A briefing for banks and fintechs, with key insights and details of the opportunities available in LatAm’s third-largest nation. Open Banking represents an important possibility for both financial institutions and the Mexican population.
Payments giant Mastercard is joining forces with Ethio Telecom , a telecommunications service provider in Ethiopia, in a move to enhance financialinclusion and wealth creation in East Africa. Mastercard also provides advanced analytics, anti-fraud systems, and digital identity verification to ensure secure payment solutions.
Nigerian fintech Moniepoint has secured investment from digital payments giant Visa , enabling it to continue its mission to ensure financialinclusion for people across Africa. ” The post Visa Invests in Nigerian Moniepoint to Help Bolster FinancialInclusion Across Africa appeared first on The Fintech Times.
equity stake in Jingle Pay , one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financialinclusion across key markets. Jingle Pay was recently awarded the top global fintech for remittances into Pakistan.
New Africa Technology (NAT) , a fintech company based in Senegal, joins forces with Mastercard to introduce a virtual and physical prepaid card for individuals through NAT’s existing digital wallet solution, ‘’Flash’’. This alliance highlights our dedication to advancing financialinclusion and economic development in the region.
BKN301 Group , a London-based digital payments and banking-as-a-service (BaaS) solutions company, is organising a series of roadshows to drive financialinclusion. This is critical to the growth of the regional financial sector, where both individuals and businesses can thrive by adopting cutting-edge fintech solutions.
A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. A visual overview of the SEA fintech sector’s funding trajectory from 2017 to 2024, showcasing the sharp decline after a record-breaking 2021.
The Vietnam Consumer Trends 2024 report, released in October, explores key drivers set to fuel Vietnam’s growth and opportunities, highlighting that digital payment methods are gaining dominance, and helping improve financialinclusion and accessibility. Adoption of fintech products in Vietnam is expected to grow further.
Catch up with Finovate VP and host of the Finovate Podcast Greg Palmer as he interviews some of the most interesting entrepreneurs, analysts, and thought leaders in fintech today. The technology is purpose-built to support the demand of businesses and traditional financial institutions.
PayMint , a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank Egypt (ADIB-Egypt).
Yet, they often face financial challenges, struggling to access credit, manage cash flow, and navigate complex financial systems. Fintech solutions are changing this landscape, offering SMEs tailored tools to overcome these barriers. Fintech companies see this gap as an opportunity to innovate.
Kenyan fintech startup Leja has achieved remarkable growth, processing $2 billion in B2B payments since launching its B2B payments service in Kenya earlier this year. By leveraging its innovative data-driven credit scoring and payment solutions, Leja aims to drive revenue growth while advancing financialinclusion.
Network International (Network) ( www.Network.ae ), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider.
Ultimately, the AFC argued the new act could hinder financialinclusion as it would impose unnecessary burdens on responsible financial institutions and consequently make custodial accounts prohibitively expensive to offer. Underserved consumers relying on these services would be the ones feeling this impact the most.
The report highlights key milestones, insights, and the organizations transition into an independent foundation, further strengthening its ability to drive financialinclusion across the continent.
Cebuana Lhuillier in the Philippines and Yellow Card in Africa will be the first Xoom partners to integrate PYUSD, enhancing financialinclusion in these regions. A micro-financial services provider in the Philippines, Cebuana Lhuillier brings an extensive network of 3,500 branches and 25,000 partner agents to the partnership.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. The year’s conference featured an impressive lineup of over 900 speakers across more than 400 sessions.
In 2024, Indonesia’s fintech scene reached new heights, with one of the top highlights being. This milestone marked a pivotal moment for the country’s financialinclusion efforts. The roadmap aims to advance the development and strengthening of digital finance assets, financial sector innovation, and crypto assets.
Fintech is playing a pivotal role in the economic growth of Armenia, Azerbaijan, and Georgia. With advancements in payment systems, blockchain exploration, and digital currencies, these nations are harnessing technology to transform their financial landscapes and drive future development.
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.
Fintech is transforming financial services across Asia at an unprecedented pace. With rapid digital adoption, evolving regulations, and AI-driven innovations, the region is at the forefront of global fintech growth. The Asia-Pacific fintech market is projected to reach USD $171.32 billion in 2025 and surge to USD $359.83
Curve , the ultimate digital wallet today announced a strategic partnership with Infact , the UK’s fintech credit bureau, to report usage on its Flex product in real-time through Infact’s Reporting API.
Network International (Network) ( www.Network.ae ), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider.
Egyptian fintech PayMint has received final approval from the Central Bank of Egypt to launch its first ‘Meeza’ prepaid cards in partnership with Abu Dhabi Islamic Bank (ADIB). Founded in 2019, PayMint continues to offer fintech services to support small and medium enterprises across Egypt.
Atome , the Southeast Asian buy now pay later (BNPL) provider, has secured a $75million asset-backed financing facility from Lending Ark , marking a major milestone in Atome’s aim to accelerate financialinclusion in the Philippines.
It underscores Visa’s commitment to supporting fintech innovation and financialinclusion in the region.” ” The post Cake by VPBank Leverages Visa for Cloud-Based Card Management appeared first on Fintech Singapore.
Arturo Planell Arturo Planell, Group Country Manager, Regional Southeast Asia at Visa, said, “This milestone reflects Visas commitment to digital and financialinclusion in Cambodia, supporting tourism businesses and small enterprises.” ” Dr. Chea Serey H.E.
The State Bank of India (SBI) has partnered with APIX , a global innovation platform connecting financial institutions and fintechs, to launch the SBI Innovation Hub at the Singapore Fintech Festival. The goal of the hub is to accelerate digital transformation and advance financialinclusion.
If applied successfully, Agentic AI could revolutionise financial services by introducing higher levels of autonomy, efficiency, and adaptability. In this article, we cover the developments between Agentic AI in fintech and possible use cases, giving a glimpse into how financial services could look like in the near future.
By bolstering resilience to climate and economic shocks, we are putting more people, communities and entrepreneurs on the path to financialinclusion and prosperity.” Trillion MSME Financing Gap in Asia appeared first on Fintech Singapore. said Mastercard Vice Chairman and Mastercard Impact Fund Board Director Jon Huntsman.
Indonesian fintech company JULO has launched a new feature to ensure quick loan disbursement, introducing the “Instant Disbursement Guarantee.” The card allows users to manage various expenses, including e-wallet top-ups and healthcare payments, aiming to enhance financialinclusion in a market with low credit card penetration.
Throughout January, The Fintech Times has been exploring the theme of ‘fintech for good,’ focusing on how fintech solutions support financialinclusion. Scotlands financial and professional services sector contributesover 14billion annuallyto the UK economy and employs 160,000 people.
Outlined under Decree 94 issued on 29 April, the initiative introduces a regulatory sandbox for fintech innovations in the banking sector, set to begin on 1 July. The pilot is designed to evaluate emerging financial technologies under controlled conditions while balancing innovation with risk management.
The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financialinclusivity. Challenges to financialinclusivity Cross-border payment challenges disproportionately affect low-income individuals and small businesses in developing regions.
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