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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.
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 collaboration will support fintechs with the expertise, infrastructure, and rapid go-to-market capabilities needed to navigate the complexities of issuing cards unlocking new opportunities for financialinclusion and digital transformation.
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.
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.
Despite their crucial role in economic growth and job creation, nearly half of all MSMEs in Asia and the Pacific are either unserved or underserved by financial institutions. The post ADB, Mastercard to Bridge US$2.5 said ADB’s Vice-President for Market Solutions Bhargav Dasgupta.
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! .
As BaaS evolves, it is helping fintech innovation reach new markets and underserved communities; which has the potential to greatly improve financialinclusion across the globe. BaaS means these businesses can focus on what makes them unique and inclusive.”
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.
Financialinclusion opportunities for Southeast Asia’s fintechs The report, released in December, explores the driving factors and key trends in Southeast Asias fintech market, highlighting Southeast Asias robust fundamentals which have been propelled the fintech sectors rapid growth. billion underbanked adults.
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.
To promote financialinclusion and accessibility, TerraPay , a leading global money movement company, has partnered with Yape , the superapp of Peru. Diverse Functionality: Users can immediately utilize the received funds across various app features, promoting a cashless economy and fostering greater financialinclusivity.
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.
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.
Despite its political unrest and economic challenges, Myanmar has shown significant progress in the fintech sector, bringing financial services to underserved populations. The initiative aimed to promote financialinclusion by encouraging collaboration between fintech companies and financial institutions.
Cross-border payment hub, Tranglo , has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia as it continues to aim to boost financialinclusion by providing efficient, affordable cross-border payment solutions to the region. per cent in 2024.
The rapid adoption of the Leja App over the past year highlights the power of local solutions tailored to underserved markets. By leveraging its innovative data-driven credit scoring and payment solutions, Leja aims to drive revenue growth while advancing financialinclusion.
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].
Having originally launched in Mexico in February 2024, inDrive Money improves financialinclusion for gig economy workers. This is particularly impactful as freelancers have traditionally been underserved in Latin America, and Colombia is no different. This will depend on their activity on the inDrive app.
These services aim to support businesses of all sizes, particularly small and micro-sized enterprises (SMEs), in their digital transformation and financialinclusion efforts. Ant International also provides credit and lending solutions to underserved SMEs through its Embedded Finance unit, using AI and blockchain technologies.
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.
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).
At Yuze, financialinclusion is at the core of everything we do. We believe that businesses and freelancers deserve more from their financial technology. Supported by government initiatives such as Digital India and increasing investments, the Indian market provides fertile ground for Yuze to foster financialinclusion.
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. appeared first on Fintech Singapore.
India Post Payments Bank is leveraging Financial Software and Systems (FSS) to bring a wide range of affordable, quality banking and payment services to financiallyunderserved customer segments – especially rural households, small and medium enterprises and women.
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 teams are developing applications, products, and protocols that focus on consumer fintech solutions, OpenFI, financialinclusion, and DeFi. Consequently, this will provide a scalable and efficient solution for underserved businesses in the region. The selected teams were chosen from applications across the region.
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.
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.
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.
The FICO team was excited to lead the FinancialInclusion track that focused on how to responsibly expand credit access to previously unscorable consumers. A key point that the experts underscored during the FinancialInclusion sessions at LendIt was that expanding financialinclusion is a win-win proposition.
In a move to empower local partners and advance financialinclusions, Ant International will enhance the credit management capability and infrastructure efficiency for Dock clients, comprising of financial institutions, retailers, and fintech start-ups.
It also reduces costs through resource sharing, enhances system resilience, and supports economic inclusion by expanding access to financial services for underserved groups. The post The Evolution of Open Finance Through the Lens of CBI appeared first on The Fintech Times.
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.
Underserved communities and businesses will now be able to benefit from a variety of accessible financial solutions by MNT-Halan. With a GDP exceeding $500billion and a diverse, fast-growing population, the UAE is a pivotal market to advance financialinclusion and transform lives.”
By combining ABHIs technology with Al Ansari Financial Services deep market expertise, we are committed to driving financialinclusion and helping underserved communities gain more flexibility and convenience in managing their financial needs.
Félix Pago uses blockchain and artificial intelligence (AI) to power its chat-based platform which makes financial services more accessible for those in historically underserved regions. The post Félix Pago Extends Remittances Reach in Central America With Mastercard Partnership appeared first on The Fintech Times.
With the support of local regulators, Pyypl can also provide access to prepaid Visa cards in other markets, fast-tracking financialinclusion across the MEA region. The post Pyypl Secures Visa Principal Licence to Enhance FinancialInclusion in MEA appeared first on The Fintech Times.
The partnership with Visa is a testament to Pyypl’s mission to democratise access to financial services, its innovative business model and the large market opportunity – as well as highlighting Visa’s trust in Pyypl to accelerate financialinclusion.
Senegal is one of many countries across the Middle East and Africa trying to diversify its economy and future-proof itself by hosting financialinclusion by employing fintech solutions. However, Senegal remains a developing economy with significant challenges in financialinclusion , particularly in rural areas.
Nikhilesh Goel Nikhilesh Goel, Co-founder and Group CEO of Validus said, “By leveraging Batumbu’s unique position as the largest and only profitable digital SME financing platform in the country, we are committed to unlocking new opportunities for businesses, driving economic growth, and enhancing financialinclusion.
Mastercard, in collaboration with Money Fellows and Banque Misr, has launched a prepaid card in Egypt, aimed at enhancing financialinclusion and accessibility. per cent of Egyptians who are formally included in the financial system, offering features like online purchases, ATM transactions and exclusive discounts.
The aim is to enhance financial access for underserved retail customers and small businesses. The consortium, which holds over 20 financial service licenses across five Asian markets, aims to create an AI-driven virtual bank that empowers underserved communities through advanced technology.
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