Category: Technology

MICROCAPITAL BRIEF: Indian Microfinance Institutions Cashpor, Utkarsh Use Technology to Improve Efficency

Nonprofit Indian microfinance institution (MFI) Cashpor Micro Credit and Indian non-banking finance company (NBFC) Utkarsh Microfinance Private Limited each have implemented technology-based procedures to improve efficiency. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), G20’s Global Partnership for Financial Inclusion (GPFI) Partner to Launch Online “Women’s Finance Hub”

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Group of 20’s (G20’s) Global Partnership on Financial Inclusion have partnered to launch the “Women’s Finance Hub,” an online platform to help advance access to finance for women entrepreneurs. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Global Mobile Money Adoption Survey, Eye Care for El Salvador’s “Base of the Pyramid,” Financial Needs in Rwanda

“State of the Industry: Results from the 2012 Mobile Money Adoption Survey;” by Claire Penicuad; published by Global System for Mobile Communications Association’s (GSMA’s) Mobile Money for the Unbanked program; 2012; 36 pages; available at http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/MMU_State_of_industry.pdf

This report presents the results of the Global Mobile Money Adoption Survey, launched by GSMA’s Mobile Money for the Unbanked program “to allow mobile money service providers to benchmark their performance against their peers in the industry.” Continue reading

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Written by Comments Off on MICROFINANCE PUBLICATION ROUND-UP: Global Mobile Money Adoption Survey, Eye Care for El Salvador’s “Base of the Pyramid,” Financial Needs in Rwanda Posted in Africa, Latin America, Technology

MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas (BSP) Raises Maximum Microbanking Office Savings Balance to $968

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, reportedly has increased the maximum allowable account balance for savings accounts at microbanking offices (MBOs) to PHP 40,000 (USD 968) from PHP 15,000 (USD 363). Continue reading

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MICROCAPITAL BRIEF: DemirBank of Azerbaijan Offers Automated Teller Machine Repayment Option

DemirBank, an Azerbaijani commercial bank that lends to small and medium-sized enterprises, recently announced that customers have the opportunity to repay loans at automated teller machines (ATMs) with their bank cards. Continue reading

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MICROCAPITAL BRIEF: Ingenico of France Launches Mobile Biometric Identification Service, iWB Bio Series

Ingenico, an electronic payment solutions company based in France, has announced the launch of a mobile fingerprint identification service called the iWB Bio Series, which is a mobile biometric identification device that allows financial institutions and governments to identify individuals who have do not  have standard forms of identification. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Ingenico of France Launches Mobile Biometric Identification Service, iWB Bio Series Posted in Technology

MICROCAPITAL BRIEF: Democratic Republic of Congo Fights Corruption by Paying 1m Civil Servants via Mobile Banking

Since Prime Minister Augustin Matata Ponyo vowed in 2012 to replace all cash wage payments in the hopes of minimizing corruption, the Democratic Republic of Congo (DRC) has issued wage payments to 270,000 of 1 million civil servants via mobile banking. Continue reading

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MICROCAPITAL BRIEF: Younger People in Kenya More Open to “Game Changer” of Buying Investment, Insurance Products by Mobile Phone

In July 2012, Old Mutual Kenya (OMK), a Nairobi-based investment subsidiary of UK-based Old Mutual Group, launched i-Invest, a platform that offers investment products that can be purchased via M-Pesa, a service of a Kenya-based mobile operator Safaricom. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation, Jordan Ahli Bank Launch IFC’s SME Toolkit in Jordan

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Jordan Ahli Bank, a Jordan-based financial institution, recently launched the SME Toolkit, an initiative of IFC, in Jordan. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation, Jordan Ahli Bank Launch IFC’s SME Toolkit in Jordan Posted in Middle East, Technology

MICROCAPITAL BRIEF: International Finance Corporation, Central Bank of Belize to Establish Credit-Reporting System

The International Finance Corporation (IFC), the commercial arm of the US-based World Bank Group, is working with the Central Bank of Belize, the country’s financial regulatory body, to launch a credit-reporting system that will allow financial institutions to exchange credit information. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation, Central Bank of Belize to Establish Credit-Reporting System Posted in Latin America, Technology

MICROCAPITAL BRIEF: Alliance for Financial Inclusion Launches African Mobile Phone Financial Services Policy Initiative (AMPI)

The Alliance for Financial Inclusion (AFI), a Thailand-based network of financial policymakers from approximately 85 countries, recently launched the African Mobile Phone Financial Services Policy Initiative (AMPI), which will aim to address barriers to the “uptake of mobile financial services” in Africa. Continue reading

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MICROCAPITAL BRIEF: CGAP, Grameen Foundation, Mobile Telecommunications Network (MTN) Uganda to Finance $1m Mobile Finance Product Research and Development Initiative

CGAP (Consultative Group to Assist the Poor), a US-based nonprofit research and policy center, the Grameen Foundation, a US-based nonprofit that seeks to increase business opportunities and telecommunication services for poor people in rural areas, and Mobile Telecommunications Network (MTN) Uganda, the Ugandan arm of South African telecommunications company MTN Group, recently announced plans to launch an initiative to research and develop new mobile financial products. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: CGAP, Grameen Foundation, Mobile Telecommunications Network (MTN) Uganda to Finance $1m Mobile Finance Product Research and Development Initiative Posted in Africa, Deals, Technology

MICROCAPITAL BRIEF: Ears Earth Environment Monitoring of the Netherlands Offers Climate-based Crop Microinsurance System FESA Free to Microinsurance Retailers in Africa

Ears Earth Environment Monitoring Limited, a subsidiary of the Netherlands-based remote sensing company Ears Holding, is offering its Food Early Solutions for Africa (FESA) microinsurance system free of charge to microinsurance providers. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Ears Earth Environment Monitoring of the Netherlands Offers Climate-based Crop Microinsurance System FESA Free to Microinsurance Retailers in Africa Posted in Africa, Microinsurance, Technology

MICROCAPITAL BRIEF: ProCredit Bank Armenia Launches Visa Business Card

ProCredit Bank Armenia, a microfinance institution (MFI) and member of Germany’s ProCredit Holding, recently launched its Visa Business Card, which is supported by the 170-country network of US-based payment services firm Visa. Continue reading

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MICROCAPITAL BRIEF: Crowdfunding Platform Pi Slice Launches in Dubai to Support Microentrepreneurs in the Middle East

Pi Slice, a start-up crowdfunding platform based in Dubai, reportedly plans to link poor entrepreneurs in the Middle East to microloans raised via social media. Continue reading

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MICROCAPITAL BRIEF: Opportunity International Hires Temenos to Customize its Insight Software to Document Social Impact

Opportunity International, a US-based nonprofit that focuses on microfinance in emerging markets, has recently agreed to license Insight, a business analytics product developed by Temenos, a software company based in Switzerland. The organization will hire Temenos to customize the software to produce reports that measure the social impact of lending on borrowers and their communities. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Opportunity International Hires Temenos to Customize its Insight Software to Document Social Impact Posted in Deals, Technology