cat/documentation-and-compliance
Small and medium-sized enterprises (SMEs) play a crucial role for employment, job creation, investment, innovation and economic growth around the world. They account for about 90% of businesses and more than 50% of employment worldwide, and are therefore crucial for the recovery of the world’s economy. Considering this important role, it is critical to ensure that viable SMEs around the world have access to the credit they need to expand.
The regulatory sandbox (“sandbox”), part of Innovate, allows firms to test innovative products, services and business models in a live market environment, while ensuring that appropriate safeguards are in place. It was established following a feasibility report published in November 2015 to support the FCA’s objective of promoting effective competition in the interests of consumers. The November 2015 report set out the potential benefits of the sandbox that would support this objective as:
This whitepaper analyzes the information content of the digital footprint – information that people leave online simply by accessing or registering on a website – for predicting consumer default. Using more than 250,000 observations, we show that even simple, easily accessible variables from the digital footprint equal or exceed the information content of credit bureau scores. Furthermore, the discriminatory power for unscorable customers is very similar to that of scorable customers.
SME lending growth has resumed in recent years, and access to external finance for SMEs appears to have improved, particularly in advanced economies.
The FSB (Financial Stability Board) has delivered a report to the G20 examining the effects of the post-crisis regulatory reforms on SME financing.
Washington, D.C. April 9, 2019 – Social Development Bank (SDB) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Egyptian women who constitute half of the population, represent tremendous economic potential, while contributing to only 22.5 percent of total labor force - offer an estimated credit demand of USD283 million among female-owned SMEs.
This annual meeting will gauge the direction of the industry and discuss and debate the most important developments, such as:
• the rise of fintechs/blockchain technology and their possible benefits and potential threats to the Receivables Finance industry;
• the impact of Basel regulatory capital requirements and the use of credit insurance as a risk mitigation tool and their combined effect on capital adequacy;
• the benefits of establishing a Supply Chain Finance (SCF) platform inside a bank/receivables finance operation;
The 25th Africa Regional Group Meeting will be an opportunity to take stock of private and public actors’ commitments and major achievements of WSBI African members in digital financial inclusion. The meeting will focus on how WSBI members’ innovation and digital policies contribute to the improvement of their customer journey and, ultimately, to the national level of financial inclusion.
Technology-enabled innovation in financial services (FinTech) can extend the benefits of financial inclusion to millions of unbanked and underbanked people around the world. However, the rise of FinTech presents many regulatory challenges - for emerging and developing economies in particular. Consequently a number of regulators in advanced, emerging, and developing economies have responded to such challenges by innovating on their own. These innovative regulatory initiatives include innovation offices, regulatory sandboxes, and RegTech for regulators.
ICOs are one of the most prominent applications of blockchain for finance, allowing for an innovative and inclusive way of financing small and medium-sized enterprises (SMEs). Although the lack of regulatory clarity currently exposes ICO participants to some risks, appropriately regulated and supervised ICOs offer a potential new way to raise capital for projects enabled by Distributed Ledger Technologies and the blockchain.
