Kenya-based Caritas Microfinance Bank (MFB), a member of the Catholic development organization Caritas Nairobi, recently partnered with the Co-operative Bank
Category: Technology
MICROCAPITAL BRIEF: Sa-Dhan, Accion’s Smart Campaign, IFC Launching Tool to Monitor Over-indebtedness Among Microfinance Borrowers in India
Sa-Dhan, an association of 190 financial services providers in India, and the Smart Campaign of US-based NGO Accion recently announced the launch of an online monitoring tool intended to increase consumer protection and reduce over-indebtedness
MICROFINANCE EVENT: WSBI World Congress of Savings and Retail Banks; November 15-16, 2018; New Delhi, India
The World Savings and Retail Banking Institute (WSBI) World Congress will focus on the role of retail banks in “making globalization inclusive for all.” Presentation titles include: (1) Digitisation as a Tool for Financial Inclusion and Customer Proximity; (2) Locally Focused Savings and Retail Banks in a Circular and
MICROFINANCE EVENT: Microfinance & NBFCs Exhibition Cum Conference; October 11, 2018; Kolkata, India
The Fifth Microfinance & NBFCs Exhibition Cum Conference is intended to provide business development opportunities for microfinance institutions (MFIs) and non-banking financial companies (NBFC). The conference agenda includes case studies of NBFCs and MFIs; leadership awards; and panel discussions with titles such as: (1) Adoption and Affordability of Technologies: Challenges & Implications; (2) Safe & Secure Digital Customer Services; (3) and Collaboration & Partnerships: Key for Sustenance in the Changing Economy.
The confirmed list of
MICROFINANCE EVENT: Mondato Summit Asia 2018: The Next Wave of Digital Services; December 12, 2018; Jakarta, Indonesia
The 2018 Mondato Summit Asia will explore how companies in Southeast and South Asia are repositioning themselves to take advantage of the rise in usage of mobile devices, which has lead to the proliferation of social media and electronic commerce in the region. The theme includes how digital finance and commerce (DFC) is being applied beyond basic financial services and how this translates into investment opportunities. Sample session topics are a Case Study of Digital Transformation & Re-Invention, Carrier Billing at the Heart of Digital Finance & Commerce, Expanding Market for Financial Services, Disruptive Innovation: the Case for Remittances, and Enabling New Business Models – Pushing the Bounds of Commercial Viability. The event also includes
MICROFINANCE PAPER WRAP-UP: CGAP: “Building Inclusive Payment Ecosystems in Tanzania and Ghana;” by Max Mattern, Claudia McKay
This is a summary of a paper by Max Mattern and Claudia McKay, published by CGAP (the Consultative Group to Assist the Poor), June 2018, 35 pages, available at:
http://www.cgap.org/sites/default/files/Focus-Note-Building-Inclusive-Payment-Ecosystems-June-2018.pdf
This report addresses how advances in technology over the past
SPECIAL REPORT: Advans Cote d’Ivoire, ESAF Small Finance Bank, KMF Are Finalists for European Microfinance Award on Financial Inclusion Through Technology
On the 20th of September, the Selection Committee for the European Microfinance Award 2018 on “Financial Inclusion through Technology” chose the three finalists that will go on to compete for the EUR 100,000 (USD 118,000) prize: Advans CI of Ivory Coast, ESAF Small Finance Bank of India and KMF of Kazakhstan.
This year, the Award has highlighted the role of technology in advancing financial inclusion, showing how technology-enabled services and solutions can help financial services providers such as microfinance institutions increase outreach to low-income and vulnerable segments, offering products and services capable of responding to clients’ needs for trust, speed, low cost, security, usability and
MICROCAPITAL BRIEF: Oradian Deploys Microfinance Software-as-a-service (SaaS) Instafin in Kenya
Oradian, a Croatia-based software-as-a-service (SaaS) company, recently won a contract with Jirani Smart, a microfinance institution (MFI) that has been active rural Kenya since 2016. As of 2018, Jirani Smart serves approximately 15,000 clients from seven branches.
Oradian’s flagship product is Instafin, a core
MICROFINANCE EVENT: Investing in Responsible Finance and Innovation for Africa’s Digital Economies; October 2, 2018; Dar es Salaam, Tanzania
Summary of Event: The Ninth Annual Responsible Finance Forum brings together investors, policymakers, practitioners, and innovators to discuss opportunities for growth as well as risks of abuse relating to digital financial services in Africa. Participants will learn about technology solutions and business models for accelerating
MICROFINANCE EVENT: Women’s World Banking: Making Finance Work for Women; November 7, 2018; New York, USA
Summary of Event: Making Finance Work for Women will include discussions on increasing female involvement in the financial industry and creating more economic opportunities for women worldwide. Representatives from the financial services, philanthropy, and technology sectors will discuss topics including Financing Women in the Supply Chain, Investing with a Gender Lens, The Role of Technology in Powering Women’s Financial Inclusion, and Powering Economies by Investing in Women.
The presenters include
MICROCAPITAL BRIEF: ResponsAbility Buys Equity Stake in C88, Fintech Expanding Access to Lending, Insurance via CekAja.com in Indonesia, eCompareMo.com in the Philippines
A private equity investment vehicle managed by responsAbility Investments AG, a Switzerland-based asset manager specializing in impact investments in developing countries, recently paid an undisclosed sum to buy a minority stake of undisclosed size in Singapore-based C88 Financial Technologies. C88 operates online platforms that help consumers in Indonesia and the Philippines compare and
MICROCAPITAL BRIEF: First Money Microfinance of Zimbabwe Offers iSave Debit Card in Partnership with Econet’s Steward Bank
First Money Microfinance Services, a provider of loans, insurance and money-transfer services in Zimbabwe, recently debuted the iSave debit card, which allows customers to make purchases at 70,000 point-of-sale locations served by the country’s Zimswitch network. The debit card carries no monthly fees and has a usage limit of USD 3,000 per month. It is issued through Steward Bank, which is controlled by the South Africa-based Econet Group.
Founded in 2016, First Money is owned by a group of
MICROCAPITAL BRIEF: FMO Arranges $15m in Debt Financing for Pay-as-you-go Solar Power Provider Kingo of Guatemala
The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, recently arranged USD 15.5 million in local-currency financing for Solesco Centroamérica, a Guatemalan solar company that primarily serves rural areas under the brand name Kingo. The funding comes in the form of a seven-year, local-currency loan with funding equivalent to
SPECIAL REPORT: Registration Opens for European Microfinance Week; November 14 – November 16, 2018; Luxembourg
Event Summary: On November 14, the European Microfinance Platform’s (e-MFP’s) ten Action Groups will meet in person to work on their respective topics of focus, such as rural outreach and innovation, investors, and green-inclusive and climate-smart finance.
On November 15 and 16, more than 80 organisations will be represented in over 25 sessions addressing topics including the following: making insurance markets work for the poor, the business case for gender-lens investing, crowdfunding, financial services for refugees, financing clean energy, meeting the financial needs of smallholder farmers, financial education, youth finance, microfinance and the UN’s Sustainable Development Goals, social performance management, financial inclusion through technology, regulation realting to digital financial services (DFS), and client protection relating to DFS.
Also on November 15, we will learn what organization wins this year’s EUR 100,000 (USD 115,000) European Microfinance Award, which will be for
MICROCAPITAL BRIEF: FMO Extending $450k Convertible Grant to Kenyan Fintech Firm Lendable
The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, recently agreed to extend a convertible grant of USD 450,000 to Lendable, a Kenyan firm that offers financing and analytics services to organizations such as leasing companies; pay-as-you-go energy service providers; and lenders to micro-, small and medium-sized enterprises. Convertible grants allow investors
MICROFINANCE EVENT: Futuristic Financial Intelligence Summit; September 28, 2018; Mumbai, India
Event Summary: The first Futuristic Financial Intelligence Summit will address developments in financial technology (fintech) including
MICROFINANCE EVENT: Asia Pacific Microfinance Forum; October 30-31, 2018; Singapore
Event Summary: This year’s forum will address topics such as risk management, agricultural finance and technology. Technology sessions will cover blockchain systems, mobile money and “big data”. Representatives of microfinance institutions (MFIs) will participate in group discussions on attracting capital, and investors will
MICROFINANCE PAPER WRAP-UP: Center for Financial Inclusion, Institute of International Finance: “Accelerating Financial Inclusion with New Data;” by Ethan Loufield, Dennis Ferenzy, Tess Johnson
This is a summary of a paper published by the Center for Financial Inclusion (CFI) and the Institute of International Finance (IIF), May 2018, 30 pages, available at: http://www.centerforfinancialinclusion.org/storage/Accelerating_Financial_Inclusion_With_Data_2018.05_Final.pdf.
This report presents the following cases of financial service providers using emerging data analysis techniques to reach underserved markets:
1.WeBank, an online Chinese bank, uses social media data to evaluate loan applicants.