This forum is intended to bring together a wide range of investors to share insights on “social performance and impact management,” particularly as related to digital financial services (DFS). This will include discussions of the Guidelines for Investing in Responsible Digital Financial Services, which were established in 2018. These 10 guidelines cover
Tag: Mobile Banking
MICROCAPITAL BRIEF: Safaricom of Kenya Adds “Fuliza” Overdraft Feature to M-Pesa Mobile Money Service
Safaricom, a Kenya-based telecommunications company, recently debuted an overdraft feature called “Fuliza,” which allows customers of the firm’s M-Pesa mobile banking service to withdraw money from their accounts even when they have a zero balance. The overdrawn amount must
MICROCAPITAL BRIEF: FINCA Zambia Borrows $1.5m from Grameen Credit Agricole Foundation for Microfinance Lending
The Zambian subsidiary of US-based FINCA Impact Finance has borrowed local currency approximately equivalent to USD 1.5 million from the Luxembourg-based Grameen Credit Agricole (GCA) Foundation for on-lending in Zambia. FINCA Zambia aims to
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
MICROCAPITAL BRIEF: Zimbabwe’s EcoCash Mobile Money Platform Down for 2 Days
EcoCash, a mobile money service of the South African telecom Econet Wireless, recently suffered a 2-day interruption of its services in Zimbabwe. While some customers could not access their mobile wallets at all,
MICROCAPITAL BRIEF: Alipay, GCash Upgrade AlipayHK App for Users in Hong Kong to Send Remittances to the Philippines Using Blockchain
Mobile payment platforms Alipay, a unit of the China-based Ant Financial, and GCash, a unit of the Philippines-based Globe Telecom, recently partnered to extend the reach of AlipayHK, a mobile app that allows users in Hong Kong to
MICROCAPITAL BRIEF: Microfinance Investors Participate in Launch of Guidelines for Investing in Responsible Digital Financial Services
Fifty fund managers, investment funds, development finance institutions and NGOs from four continents recently launched the Guidelines for Investing in Responsible Digital Financial Services, a set of voluntary standards supported by the G20 group of large economies. CGAP (the Consultative Group to Assist the Poor), one of the
MICROFINANCE EVENT: Groupe Speciale Mobile Association (GSMA) Mobile 360 Series; July 17 – 19, 2018; Kigali, Rwanda
The theme of this event, “Who will lead the digital revolution: the people or the technology?”, will drive discussions about the mobile industry in Africa, exploring topics such as big data, youth entrepreneurship,
MICROCAPITAL BRIEF: I&M Bank Rwanda, Blockbonds to Roll Out Spenn, Mobile Banking App Based on Blockchain
I&M Bank Rwanda, a unit of Kenya’s I&M Holdings Limited, and Blockbonds, a Norwegian mobile banking technology firm, recently announced the debut of Spenn, an app offering person-to-person payments, retail point-of-sale transactions and electronic bank account deposits via mobile phones.
MICROCAPITAL BRIEF: Nucleus Software of India Debuts “FinnOne Neo mFin” Digital Microlending Tool for MFIs
Nucleus Software, an India-based provider of technology to financial services firms, recently announced the launch of FinnOne Neo mFin, a system that microfinance institution (MFI) staff can access via smartphones to perform tasks such as managing loan applications and checking credit reports.
MICROCAPITAL BRIEF: Indonesia’s PT Veritra Sentosa Internasional (Treni) Launches Mobile Money App Paytren eMoney
PT Veritra Sentosa Internasional (Treni), an Indonesia-based digital financial service provider, recently debuted Paytren eMoney, a mobile application that allows users to pay bills, purchase travel, transfer money, and access the deposit and microinsurance services of multiple banks. Rudiantara,
MICROFINANCE PAPER WRAP-UP: Triple Jump: “How Microfinance is Navigating the Fintech Revolution in Africa”; by Imelde Adjaffon, Gera Voorrips
Following is a summary of a paper by Imelde Adjaffon, Gera Voorrips, published by Triple Jump, April 2018, 5 pages, available at:
https://triplejump.eu/wp-content/uploads/2018/05/How-Microfinance-is-Navigating-the-Fintech-Revolution-in-Africa-1.pdf
In July 2017, Triple Jump surveyed 17 microfinance institutions (MFIs) in Africa with the goal of learning more about “how MFIs view Fintech [financial technology], its potential uses, the drivers, challenges
MICROCAPITAL BRIEF: Local Governments in the Philippines Support Smart Communications’ Fintq in Rolling Out KasamaKA to Enable Sari-sari Stores to Act as Mobile-money Agents
KasamaKA, a program of the Philippines’ Fintqnologies (Fintq), recently won a vote of support from the National Executive Board of the League of Provinces in the Philippines (LPP), an association of municipal officials, for its work to help financial institutions deliver services such as
MICROCAPITAL BRIEF: IDB Buys $3m Equity Stake in Digital Lender, Payments Provider Moni of Argentina
IDB Invest, the private sector arm of the Inter-American Development Bank (IDB) Group, recently invested USD 3 million in Moni Online, a financial technology (fintech) firm whose app allows users – who are primarily in Mexico and Argentina – to pay bills as well as apply for and receive loans with
MICROCAPITAL BRIEF: Namibia’s Trustco Borrows $33m from Norsad, EIB, Others
Verdant Capital, a corporate finance firm with offices in South Africa, Mauritius and Ghana, recently arranged debt financing totaling ZAR 450 million (USD 33 million) for Trustco Group, a Namibia-based financial services provider firm.
MICROCAPITAL BRIEF: India’s RBL Bank Acquires 10% Equity Stake in Utkarsh Micro Finance
RBL Bank Limited, an institution formerly known as Ratnakar Bank Limited (RBL) that is headquartered in the Indian state of Maharashtra, recently announced its plan to buy a 9.99-percent stake in Utkarsh Micro Finance, a non-banking financial institution based in the Indian state of Uttar Pradesh.
MICROCAPITAL BRIEF: CGAP, Citi Foundation Launch Digital Financial Inclusion Policy Program in China, Indonesia, Philippines
CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit research center that aims to facilitate the expansion of financial access, and the Citi Foundation, the charitable arm of US-based financial services firm Citigroup, recently launched the “East Asia Digital Financial Inclusion Program”.
MICROCAPITAL BRIEF: JazzCash Mobile Money Users in Pakistan to Gain Access to Merchants Accepting Visa Cards
JazzCash, a mobile money service of Pakistan-based cellular phone network Mobilink, and Visa, a US-based payment technology company, recently announced that JazzCash Mobile Account customers will be able to make purchases from the millions of merchants worldwide that accept Visa payment cards, including approximately 50,000 retail outlets in Pakistan.