Two US-based nonprofits, the microfinance-oriented Grameen Foundation and the behavioral design firm ideas42 recently launched a partnership to support financial inclusion in the Philippines by implementing a combination of behavioral science principles and digital financial services provided through mobile phones.
Uber, a US-based car hailing service, and Sidian Bank, a Kenya-based commercial bank, recently announced they will support Uber drivers in the purchase or lease of new vehicles.
Ant Financial Services Group, an online lender affiliated with Alibaba Group Holdings Limited, a Chinese e-commerce company, recently completed a Series B equity raise of USD 4.5 billion.
Ingenico Group, a French electronic payment company, recently partnered with Kenya-based microfinance software company Tracom and Kenya-based Equity Bank, to create a system to facilitate the use of cashless money to pay “parking, land rates, business permits and market stall fees.” With this new system, “County agents, equipped with Ingenico wireless smart terminals with a specific Revenue Collection application, can now simply collect payments when arriving at the business premises.”
ADA, formerly known as Appui au Développement Autonome; Belgian Raiffeisen Foundation; and Comité d’Echange, de Réflexion et sur les Systèmes d’Epargne-Crédit (CERISE) recently partnered to integrate the Social Performance Indicators 4 (SPI-4) and MFI Factsheet programs, which can be accessed through Microfact, an online platform that offers tools and workshops intended to improve the performance of microfinance institutions (MFIs).
Accion, a US-based nonprofit providing microfinance services in 32 countries, recently announced that it will invest an undisclosed amount of money in Aire, a UK-based startup focused on credit score data analytics.
Cignifi, a US-based provider of information technology, and Equifax, a US-based consumer credit reporting agency, recently announced a “multi-year partnership” to offer credit scores in Latin America.
Kreditech, a German financial technology company, recently announced that it raised EUR 10 million (USD 11.2 million) as part of its Series C funding round from the International Finance Corporation (IFC), a member of the US-based World Bank Group, to invest mainly in its Monedo platform, which provides on-line banking products to consumers in both emerging and developed markets.
“Mobile Money Momentum in Four African Countries;” published by CGAP (Consultative Group to Assist the Poor); December 2015; 101 pages; available at: http://www.cgap.org/news/new-data-cgap-sets-benchmark-use-mobile-financial-services
“Voice of the Client: An analysis of client satisfaction and consumer protection across four microfinance institutions in Peru,” by J. Foelster, A. Pierantozzi, M. Pistelli; published by the Microfinance Information Exchange (MIX) in collaboration with Hivos People Unlimited; February 2016; 31 pages; available at: http://www.themix.org/sites/default/files/Voice%20of%20the%20Client%20Peru_0.pdf
Telenor Pakistan, a subsidiary of Norway-based telecom provider Telenor Group, recently bought additional shares of the Tameer Microfinance Bank, a Pakistan-based provider of microfinance services, increasing its stake from 51 percent to 100 percent.
CAF Development Bank of Latin America, a Venezuela-based multilateral financial institution formerly known as the Corporacion Andina de Fomento, recently announced that it will support the Asociacion de Bancos del Peru (ASBANC) Financial Studies Center, a Peruvian-based trade organization with 23 members, by promoting its Billetera Móvil (BIM) digital payment system through financial education and other services.
SimbaPay, a UK-based digital money transfer service, recently announced it is expanding its money transfer service to France, Germany, Ireland, Italy and Spain.
The GSM Association (GSMA), a coordinating group for telecoms operating under the Global System for Mobile Communications (GSM) standard, recently announced that it and its members are launching the “Connected Women Commitment” with the goal of lessening the “mobile gender gap” .
Stellar, a US-based nonprofit technology provider, and Oradian, a Croatia-based software developer serving financial organizations in West Africa, are setting up a “payment transfer network” to connect rural Nigerian microfinance institutions (MFIs).
Tigo Tanzania, a brand of Swedish telecom provider Millicom, recently announced the launch of a “nano-lending product” named Tigo Nivushe.
Event Name: Mifos Tech Days 2016 – “Innovation for Innovators”
Event Dates: March 8-11, 2016
Event Location: Volkshotel, Amsterdam, Netherlands
Visa Incorporated, a US-based payment technology company, recently announced partnerships with two organizations to promote financial inclusion in China: the China Foundation for Development of Financial Education (CFDFE), which is affiliated with China’s central bank, and the China Foundation for Poverty Alleviation (CFPA), a government-backed organization.