Category: Technology

MICROCAPITAL BRIEF: Mambu Sells Software to Nigeria’s One Credit, Premier Kenya, Angola’s Mão Solidária Microfinança

One Credit, a consumer finance company based in Nigeria; Premier Kenya, a financial services provider based in Kenya; and Mão Solidária Microfinança, a microfinance institution based in Angola, recently became customers of Mambu, a provider of web-based software designed for microfinance institutions. Continue reading

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MICROCAPITAL BRIEF: Russian Payday Lender Bistrodengi Selects Diasoft’s Flextera Banking Software

Bistrodengi, a Russian payday lender that offers payday loans of RUB 1,000 to RUB 16,000 (USD 28 to USD 453) for periods of seven to 16 days, recently selected Flextera Loans, a core banking solution from Diasoft, to support its lending and accounting operations. Diasoft’s software is used by approximately 340 financial institutions worldwide. The company is headquartered in Russia, and it also has offices in China, Cyprus, Ukraine and the United Kingdom. Continue reading

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MICROCAPITAL BRIEF: Yes Bank’s Sampann, Housing Development Finance Corporation (HDFC) Bank Use “Doorstep” Banking in Rural India

Two private commercial banks based in the Indian city of Mumbai, Yes Bank and the Housing Development Finance Corporation (HDFC) Bank, reportedly have started using “doorstep” banking in rural India to reach more customers by offering services such as credit, savings and insurance at customers’ homes. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Mobile Money Agents in Uganda; Sustainable Microfinance; Mobile Money for the Global Unbanked

“Agent Network Accelerator Survey: Uganda Country Report 2013;” published by Helix Institute of Digital Finance; January 2014; 26 pages; available at http://www.helix-institute.com/data-and-insights/agent-network-accelerator-survey-%E2%80%93-uganda-country-report-2013-0

This document presents the results of a study conducted by the US-based nonprofit Bill and Melinda Gates Foundation and India-based for-profit consultancy MicroSave that seeks to identify the challenges, trends and successes of the mobile money market in Uganda by surveying 2,000 agents. Continue reading

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MICROCAPITAL BRIEF: Facebook Seeks Regulatory Approval from Central Bank of Ireland to Provide Remittances, Mobile Money Throughout European Union

Facebook, a US-based social networking company, reportedly is waiting for approval of its application to the Central Bank of Ireland to become an “e-money” institution, which would allow it to provide remittances and mobile money services throughout Europe through a structure known as “passporting”[2]. Continue reading

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MICROCAPITAL BRIEF: Kenya Grants Mobile Money Licenses to Finserve Africa, Tangaza Mobile Pay, Zioncell Kenya

The Communications Commission of Kenya (CCK), the regulatory authority for the telecommunications sector of the country, recently granted mobile virtual network operator (MVNO) licenses to Finserve Africa Limited, a subsidiary of Kenya’s Equity Bank, and two Kenyan mobile money transfer services, Tangaza Mobile Pay Limited and Zioncell Kenya Limited. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Kenya Grants Mobile Money Licenses to Finserve Africa, Tangaza Mobile Pay, Zioncell Kenya Posted in Africa, Deals, Technology

MICROCAPITAL BRIEF: Econet of Zimbabwe to Offer Microloans for Entrepreneurs in Informal Sector

Econet Wireless Zimbabwe, a mobile services provider that is a subsidiary of South Africa-based Econet Wireless Group, recently announced that it will launch a microloan program to target entrepreneurs in the informal sector in Zimbabwe. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Econet of Zimbabwe to Offer Microloans for Entrepreneurs in Informal Sector Posted in Africa, Technology

MICROCAPITAL BRIEF: China Commercial Credit Launches Online Loan Portal “Pride Lending Group”

China Commercial Credit, a microcredit company based in the Chinese city of Suzhou, recently announced that it has launched an online lending portal called Pride Lending Club. Continue reading

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MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast

Airtel Burkina Faso, a subsidiary of India-based telecommunications company Bharti Airtel, and Mobile Telecommunication Network (MTN) Group, a telecommunications company based in South Africa, recently announced a partnership that will allow their mobile money customers to transfer funds between Burkina Faso and the Ivory Coast. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast Posted in Africa, Deals, Technology

MICROCAPITAL BRIEF: Citi Replicates Mobile Collect Fund Transfer Service in China, India

Citi Asia, a subsidiary of US-based bank Citigroup in Asia, recently launched Citi Mobile Collect, a mobile payment platform that enables customers to complete fund transfers via mobile phones, in China and India. Continue reading

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MICROCAPITAL BRIEF: Etisalat Lanka of Sri Lanka, Dialog Axiata of UAE Partner to Extend Ezcash Mobile Payment System in Sri Lanka

Dialog Axiata (DA), a Sri Lankan mobile communications subsidiary of Malaysia’s Axiata Group Berhad, reportedly has announced that it will begin a partnership with Etisalat Lanka (EL), a cellular network owned by the Emirates Telecommunications Corporation of the United Arab Emirates, to extend Dialog’s “eZcash” mobile payments to EL’s customers in Sri Lanka. Continue reading

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MICROCAPITAL BRIEF: Truelift Updates Truelift Indicators Tool for Assessing Pro-poor Focus of Microfinance Institutions

Truelift, an initiative that recognises institutions that exhibit commitment to the “pro-poor objective of microfinance,” has announced an updated version of its Truelift Indicators Tool, a set of criteria intended to assess how much microfinance institutions (MFIs) meet the needs of low-income people [1]. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Truelift Updates Truelift Indicators Tool for Assessing Pro-poor Focus of Microfinance Institutions Posted in Technology

MICROFINANCE PUBLICATION ROUND-UP: Government Efforts to Achieve Financial Inclusion in India; Index-based Insurance in South, Southeast Asia; Microinsurance Claims Management

“Report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households;” published by the Reserve Bank of India (RBI); December 31, 2013; 247 pages; available at http://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/CFS070114RFL.pdf

This report was authored by the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, which was appointed by the Reserve Bank of India (RBI) in September 2013 to propose measures for increasing access to financial services in India. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Women and Mobile Financial Services in Uganda; Quantitative Poverty Scoring Methods; European Investment Bank’s Rural Impulse Fund II Symposium in Africa

“Research on Women and Usability of Mobile Financial Services in Uganda;” published by Grameen Foundation; February 2014; 40 pages; available at http://www.grameenfoundation.org/resource/use-mobile-financial-services-among-poor-women

This presentation gives an overview of the Uganda-specific results of a series of studies undertaken by the US-based nonprofit Grameen Foundation with the goal of understanding how mobile-phone usability, or lack thereof, impacts the ability of poor women to access mobile financial services in India, the Philippines and Uganda. Continue reading

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Written by Comments Off on MICROFINANCE PUBLICATION ROUND-UP: Women and Mobile Financial Services in Uganda; Quantitative Poverty Scoring Methods; European Investment Bank’s Rural Impulse Fund II Symposium in Africa Posted in Technology, Trends/Challenges

MICROCAPITAL BRIEF: Entrepreneurial Finance Lab Offers Microfinance Institutions (MFIs) Credit Scores for Micro-, Small Enterprises (MSEs) Based on Psychometric Tests

In an effort to promote financing to self-employed entrepreneurs and micro- and small enterprises (MSEs) in emerging economies, Entrepreneurial Finance Lab (EFL), a US-based company, is employing psychometric analyses to assess the creditworthiness of loan applicants. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Entrepreneurial Finance Lab Offers Microfinance Institutions (MFIs) Credit Scores for Micro-, Small Enterprises (MSEs) Based on Psychometric Tests Posted in Risks, Technology

MICROCAPITAL BRIEF: US-based Startups First Access, Cignifi Analyze Mobile Phone Usage to Measure Creditworthiness of Unbanked

A number of startup companies are employing analytical techniques based on “big data” to interpret the mobile phone usage of poor people to assess the creditworthiness of those applying for loans in developing economies. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: US-based Startups First Access, Cignifi Analyze Mobile Phone Usage to Measure Creditworthiness of Unbanked Posted in Risks, Technology

MICROCAPITAL BRIEF: Tigo Introduces Cross-border Mobile Money Transfer Service With Currency Conversion Serving Rwanda, Tanzania

Millicom International Cellular, a Luxembourg-based telecommunications company also known as Tigo, recently introduced a cross-border mobile money transfer service between Rwanda and Tanzania that includes currency conversion. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Tigo Introduces Cross-border Mobile Money Transfer Service With Currency Conversion Serving Rwanda, Tanzania Posted in Africa, Technology