This Medium articles shares why finTechs hold potential to change the course of small business banking. According to ADB survey in 2017, with only 20 percent of firms using digital finance platforms, small businesses are looking for game-changing solutions in payments, capital and equity spaces.
As cloud-based tools proliferate, small businesses looking to be more nimble, efficient and organized have been turning to them for a variety of key tasks, from billing, scheduling and collaboration to project management, time tracking, video conferencing, marketing, hiring and customer engagement.
Eugene Danilkis, CEO and Co-Founder of Mambu (a member of the SME Finance Forum) shares with Medium how he built this fintech company. Danikis talks about his background and how it led to founding Mambu, and what the company offers. He says, "That’s what differentiates us — through our platform clients can design and launch products themselves quickly, scale easily and do it with a small team.
As a new SME Finance Forum member, Mambu was excited to participate in the Global SME Finance Forum and host a study tour at their Berlin office. The Forum gathered over 400 representatives from SME lenders and banks, as well as donors and investors to discuss how the digital revolution can help SMEs gain better access to financial services. But why are SMEs considered the missing middle and which digital trends can help close the credit gap? In this article Mambu explains.
Mihasonirina Andrianaivo is a Senior Financial Sector Specialist working in Finance and Markets operations in the South Asia Region the World Bank. In this blog, she writes about programs announced in recent years that have fostered a more favorable business environment for fintech models to emerge in the MSME lending space – in India.
Leora Klapper, Lead Economist, Development Research Group, World Bank and Natascha Beinker, Co-Chair G20 Global Partnership for Financial Inclusion (GPFI) and Co-Chair GPFI SME Finance Subgroup, German Federal Ministry for Economic Cooperation and Development (BMZ) co-author an article on how SMEs need financial help to meet sustainability standards and join global value chains.
Technology is revolutionising trade finance while facilitating lending to small businesses by tech giants such as PayPal, Amazon and Alibaba. But is this enough to fill the $1500bn global trade finance gap? Stefania Palma from The Banker investigates.
Some banks have been exploring the use of open APIs (application programming interfaces) over the past couple of years – but upcoming legislative changes mean that financial institutions operating in Europe now have a formal deadline approaching. The EU’s second payment services directive (PSD2) and the UK’s open banking standards come into force in January 2018.
Keri Gohman, the President of Xero Americas spoke to the role of collaborative work in the financial services industry, and why small business banking in the U.S. required stronger ties between the tech and banking community to rewire small-business economy. In Gohman’s current role, she leads team of individuals focused on transforming financial management for small-business owners and accountants across the Americas.
UESUGI Iichiro, Faculty Fellow at the Research Institute of Economy, Trade and Industry and Professor, Institute of Economic Research, Hitotsubashi University outlines the reform measures from Japan's credit guarantee program reform bill. dHe also discusses the challenges going forward.
