Facebook plans to launch its own cryptocurrency using blockchain
Fear not, Facebook’s Libra is good for banks
Innovations in Delivery Channels
Member News: CDC makes its first direct equity investment in Myanmar, backing Frontiir
SME Finance Forum member CDC, the UK’s development finance institution, has today announced its investment in Frontiir, the leading internet service provider in Myanmar. The investment will help fund Frontiir’s ambitious expansion throughout Myanmar, connecting over 2 million people to the internet.
How Is Machine Learning Transforming Small Business Lending?
Here’s how digital lenders are utilizing machine learning to reshape the industry and provide a growing number of small enterprises with the capital they need. Read about how predictive models are being trained to assess risks by analyzing cases of financial fraud and improve the underwriting process.
Visa makes case for Fintech players in Africa
Traditional players like Visa Inc are racing to create strategic commercial partnerships with rising and potential Fintech companies. Sunday Times’ Julius Bizimungu talked to Otto Williams, the Head of Partnerships, Fintech and Ventures at Visa to discuss the company’s position when it comes to financial technology and their latest work in Africa. Williams was in Kigali to take part in GSMA Mobile 360 Africa conference.
ICICI Bank’s new digital banking platform for SMEs will enable customers to settle inward remittances in India
Launched last week, the platform has been designed for MSMEs and self-employed customers to help them undertake their business banking transactions digitally. The app enables customers in the export trade to settle inward remittances with greater ease and convenience as opposed to previous processes.
UnionBank to Launch a Blockhain Powered SME Financing Platform with OneConnect
OneConnect announced their partnership with Union Bank’s wholly-owned fintech subsidiary UBX to build what they claim to be the country’s first blockchain enabled platform geared towards meeting the banking needs of MSMEs in the Philippines.
Bitbond, a Fintech Lender and Security Token Issuer, Looks to Partner with Gibraltar Stock Exchange
Bitbond, a Fintech Lender and Security Token Issuer, Looks to Partner with Gibraltar Stock Exchange. Bitbond said the two companies are “in discussions regarding a future cooperation.” Recently, GSX announced it would list digital debt as well as derivatives, thus enabling what could become the largest sector of their business as debt markets are typically quite larger than equity markets.
Both parties are said to be “exploring synergies, with the goal of forming a partnership relating to security tokens.”
Mind the Gap: Addressing Challenges to Fintech Adoption
A total of 87 financial services executives and fintechs in New York, London and Hong Kong responded to Acenture's Fintech Innovation Lab questionnaire explaining their views on the innovation onboarding process. Survey questions focused on each group’s perceptions of what was occurring during the four phases of the technology onboarding process: prospecting or marketing; proof of concept; procurement; and actual product implementation.
Global FinTech Adoption Index 2019
For this survey, EY interviewed more than 27,000 consumers in 27 markets. They examined how FinTech has improved and expanded its offerings around the world, and also how it has spurred change across the entire financial services industry. FinTech strives to make financial services more accessible for both consumers and businesses. By connecting customers to a digital world, FinTech enhances their experiences, making them efficient, economical and frictionless.
There are a few key themes in this year’s report:
Beyond Theory: Getting Practical With Blockchain
Blockchain has the potential to impact many industries, including financial services, so the Boston Fed sought to understand its foundational technology with first-hand research. They wanted practical experience, the kind only trial and error can bring.