This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
In many regions, they create jobs, drive innovation, and stimulate local economies. From innovative lending platforms to advanced payment processing, fintech is enabling them to access growth opportunities and thrive in today’s competitive markets. Fintech companies see this gap as an opportunity to innovate.
While Somalia’s financial sector has seen remarkable growth in recent years, a significant portion of the population remains underserved or unbanked. This innovation brings speed and security to daily transactions, empowering businesses and individuals to embrace a cashless economy. Abdirahman M.
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.
This collaboration will enable all participant partners in TerraPay Global network to send seamless international money transfers directly to Yape users, allowing them to instantly access their funds and take advantage of a wide array of financial services within the app.
This accessibility is levelling the playing field and accelerating innovation across industries. Open banking and APIs will continue to drive innovation, enabling even more seamless integration of financial services. What’s Next? The future of embedded finance is boundless. Financial inclusion will remain a key focus.
Financial inclusion is not just about facilitating transactions; it is about providing the infrastructure, rules, and governance that enable individuals and businessesespecially women and underserved communitiesto participate fully in the digital economy.
Since the turn of the century, smartphones have been accomplishing one milestone after another, with innovators constantly working on new ways to get the most out of the small devices people carry around with them.
Traditionally, fintechs are known for their agility, innovation and ability to disrupt traditional financial systems. “Fintechs are defined by our innovation, our ability to move more quickly and take bolder, braver actions in ways that traditional financial institutions cant. Regulation can kill innovation.
While Somalia’s financial sector has seen remarkable growth in recent years, a significant portion of the population remains underserved or unbanked. This innovation brings speed and security to daily transactions, empowering businesses and individuals to embrace a cashless economy. Abdirahman M.
Payment technology and innovation are accelerating across the fintech industry, with more companies recognising the importance of adapting to changing customer needs, with non-cash transactions projected to hit 2.3 This transformation will enable low-cost access to financial systems, empowering underserved communities and fostering inclusion.
This year’s awards are also supported by 12 fintech community members, including Ripple, NETS, ADVANCE.AI, and HSBC, as part of the ‘Fintech Gives Back’ initiative, aimed at encouraging innovation and supporting emerging talent. Ripple, NETS, Syfe, and YouTrip returned as sponsors this year.
As a result, DeFi is gaining traction rapidly due to its ability to provide financial services to those who have been historically underserved by conventional banking systems. Potential for Financial Inclusion: Bridging the Gap DeFi holds immense promise for fostering financial inclusion by providing services to underserved populations.
Meeting both local and international regulatory standards, the platform integrates various components, including an Integration Platform for seamless connectivity, a Participant Portal for real-time transaction monitoring, and a Dispute Portal for efficient case resolution. Abdullahi, CBS governor and SPS chairperson Abdirahman M.
The fundraise also saw participation from several venture capital firms including Jafco Asia, Skystar Capital, Sovereign Capital, and Gobi Partners. We will continue to innovate and bring meaningful impacts to Indonesia’s massive population base, especially the underserved yet promising MSMEs in tier 2 and 3 cities.”
In response to this, the American Fintech Council (AFC) sent a letter detailing its recommendations to develop regulations for AI and to increase clarity for industry participants. The post American Fintech Council Calls for Treasury to Back Innovation by Enhancing Regulatory AI Clarity appeared first on The Fintech Times.
In addition to arming these banks with the digital infrastructure they need to receive remittances, the initiative will fuel local innovation by providing community banks additional money in their ledger to offer loans.” This democratisation of credit access fosters economic growth and resilience.
Open finance is transforming financial services by enabling broader data-sharing, fostering competition, and driving innovation in payments and financial products. Europe is driving regulatory-first frameworks, while Asia is spearheading market-led innovation. Why is it important? What’s next? Regional approaches are diverging.
This move aligns with NOW Money’s mission to offer inclusive financial solutions to underserved communities and improve the financial well-being of its users across the GCC.
One solution: in-house healthcare innovation labs. We put together a list of healthcare innovation labs from new entries to the field, as well as some of the oldest — and most familiar — names in health. Sometimes corporate innovation goes wrong , and we’ve written about corporate innovation theater before.
Additionally, the bank plans to innovate new products targeting this vital economic segment, with a keen emphasis on enterprises owned or led by women. IFC has been a great partner in promoting financial inclusion, differentiating Thai Credit from other market participants,” said Roy Agustinus Gunara, Managing Director of Thai Credit.
Canada, known for its somewhat progressive stance towards financial innovation, has been aware and monitoring this transformative technology. These regulations aim to mitigate the risks of illicit activities associated with cryptocurrencies while fostering innovation and protecting consumers.
This, in turn, makes it harder for these businesses to meaningfully participate in the digital economy and limits inclusive growth. This innovation brings down the barriers and enables an affordable consumer device to become a powerful business tool,” said Sebastien Codeville, chief executive officer of KaiOS Technologies.
The report, Advancing Economic Inclusion—Empowering Underserved Communities with Fintech , highlights the innovative products and services revolutionizing the way commerce is conducted through safe, secure, convenient, and rewarding solutions.
Until access to credit becomes more open and decentralised, banks will continue to shape who can participate in the economy. While fintech firms push for innovation, banks often push for clarity, risk reduction, and barriers to entry. Fintech apps attract younger users, underserved populations, and digitally native businesses.
One of the defining characteristics of the past decade or so has been that what’s an industry-disrupting innovation one day is old news within six months. Microsoft is collaborating with @Mastercard to accelerate innovation across digital commerce and startup ecosystems. Microsoft Stories and News (@MSFTnews) July 28, 2020.
With only 48% of the adult population in Africa banked, according to the African Digital Banking Transformation Report ( [link] ), the collaboration between Orange and Mastercard is designed to accelerate financial access, contributing to the financial empowerment of underserved communities.
Looking ahead, the Monetary Authority of Singapore (MAS) has introduced the SGQR+, an innovative concept aimed at revamping Singapore’s QR payments infrastructure for the future. This allows participating wallets (both local and cross-border) and merchants to have a common standard interface for sending and receiving payment notifications.
Under his leadership, Guavapay will continue to develop its flagship products, MyGuava and MyGuava Business, while exploring new markets, partnerships and fintech innovation. He will advise on PayFutures expansion strategy, as it targets high-growth underserved markets across the Middle East, Africa, South East Asia and Latin America.
A leading multinational bank, Access Bank Group , has today launched an innovative solution in collaboration with Mastercard to expand access to cross-border payments and remittances to and from the continent, bringing Africa closer to the global economy.
What happens when an ongoing revolution in payment innovation meets a regulatory regime determined to ensure secure and safe transactions for individual consumers, business entities, and even governments? Here is our look at fintech innovation around the world. This is the payments landscape in the UK and EU in 2025.
The affluent segment’s demand for digital-only, cost-effective services is prompting firms like UBS and Merrill Wealth Management to introduce innovative platforms and services catering to this demographic. Morgan and KKR actively participate in the asset tokenisation ecosystem, strengthening its legitimacy and acceptance.
The company provides flexible capital access to small and medium-sized enterprises (SMEs) with competitive interest rates and flexible options in loan tenors, payment models, and collateral participation. It also invests in community initiatives, equipping underserved communities with future-ready skills and promoting food resilience.
This year’s conference promises a wealth of knowledge with over 50 hours of discussions, interactive sessions, and real-world case studies focused on Asian fintech innovation and growth. However, this innovation is not without its challenges and opportunities.
Innovating for financial inclusion Zambia has taken great strides in narrowing its gap in financial inclusion. Offering microloans to underserved populations, Lupiya has played a pioneering role in bridging this gap. According to the latest data, levels of inclusion have improved ( [link] ) from 59.3% in 2015 to 69.4%
This collaboration will develop and deliver ‘innovative financing options’ for SMEs in Bahrain using EazyPay POS terminals. The move aligns with DIBs vision to drive financial inclusion and bring innovative Sharia-compliant financial services to underbanked and non-banked segments. Group from 20 per cent to 25 per cent.
This year’s conference promises a wealth of knowledge with over 50 hours of discussions, interactive sessions, and real-world case studies focused on Asian fintech innovation and growth. However, this innovation is not without its challenges and opportunities.
Their customers, who depend on those local banking relationships, are already underserved by the broader financial system and would be left further behind by the shift towards digital payments. We need to deliver a strong and reliable network that can continue to grow and innovate.
The Interledger Foundation , an organisation building and advocating for an open, interoperable payment network, is introducing a new initiative to fund fintechs that leverage its Interledger Protocol (ILP) to bring payment capabilities to emerging markets and underserved populations.
Looking to accelerate the development of innovative ideas in the UK’s fintech ecosystem, UK bank NatWest has announced that five fintechs will be joining its new Fintech Growth Programme. The small cohort boasts opportunities to connect, learn, and build networks with fellow fintechs, coaches, and NatWests dedicated Innovation function.
500 Global focuses on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. In the past 24 months, the firm has participated in seven deals in Southeast Asia, making it the fourth most active fintech investor during the period, neck and neck with 500 Global, according to Tech in Asia.
Building on its success in 2023, which attracted over 66,000 participants from 150 countries, SFF 2024 will feature a distinguished lineup of global central bankers, regulators, industry leaders, entrepreneurs, investors, innovators, and influencers. Fintech News Network readers will also get a 20% discount on their Delegate Passes.
Singapore also made strides in payment innovation, focusing on enhancing electronic payments and expanding cross-border capabilities. Singapore furthers payment innovation aspirations 2023 also saw Singapore advance its payment innovation ambitions, particularly in the realms of electronic payments and cross-border payment capabilities.
As a result, communities miss out on capital that could otherwise fuel innovation and sustainable development––important drivers for retaining residents and fueling local initiatives. This creates cash-based ecosystems where capital never enters community banks’ ledgers.
. “SteelWave Digital can further bridge the financial accessibility gap by expanding its strategic partnerships with global liquidity providers to enhance capital flows into underserved markets. He adds how it is important this goal keeps customers at the heart of any of innovation.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content