Microfinance

UPAY Inc. Announces the Election of Jaco Fölscher, CEO of ACPAS, to the Board of Microfinance South Africa (MFSA)

Retrieved on: 
Thursday, October 26, 2023
African, Policy, MFSA, UPAY, Microfinance, Management

(Microfinance is a type of banking service provided to low-income individuals or groups who otherwise wouldn't have access to financial services.)

Key Points: 
  • (Microfinance is a type of banking service provided to low-income individuals or groups who otherwise wouldn't have access to financial services.)
  • Jaco Fölscher is widely recognized as a highly respected professional in the specialized domain of microfinance.
  • "I am deeply honoured and excited to join Microfinance South Africa's board," said Jaco Fölscher.
  • Jaco Fölscher's appointment underscores UPAY Inc.'s commitment to being at the forefront of advocating for excellence in microfinance.

Moniepoint - Leading Business Bank - Enters Personal Banking Market

Retrieved on: 
Thursday, August 17, 2023
Professional Services, Payments, Apps, Applications, Technology, Finance, Fintech, Banking, Mastercard, Microfinance, POS, Dream, Real-time, ATM, SVP, Financial Times, Verve, Online shopping, Video game

Moniepoint Microfinance Bank, the leading business banking platform in Nigeria announces its entry into the personal banking market with the launch of a consumer app and debit card.

Key Points: 
  • Moniepoint Microfinance Bank, the leading business banking platform in Nigeria announces its entry into the personal banking market with the launch of a consumer app and debit card.
  • Moniepoint Inc., through one of its subsidiaries in Nigeria, leads the in-person payments market and with this personal banking solution, Moniepoint Microfinance Bank, another subsidiary of Moniepoint Inc. will be extending its reliable banking infrastructure from the businesses it serves to their customers and employees.
  • The Moniepoint Microfinance Bank team's expertise in building banking solutions is evident in its personal banking app with the introduction of a new card dispute resolution system.
  • The launch of Moniepoint Microfinance Bank’s personal banking product follows its strong performance in the business banking market.

Spark+ Provides USD 2 Million to Sumac Microfinance Bank to Grow its Clean Cooking Portfolio in Kenya

Retrieved on: 
Tuesday, September 13, 2022
Central bank, Fund, CCA, Wood, World Bank, Health, SMC, Africa Action, TA, Charcoal, Farmer, Microfinance, Partnership, Ethanol, Nigerian Capital Development Fund (NCDF), Foundation, USD, MFI, LPG, Electricity, United Nations Foundation, Private sector, Investment, Solution, EQ, Central Bank of Kenya, Ecosystem, Biomass, Cooking, Fastest, Kerosene, Clean Cooking Alliance, GP, Renewable energy, Pension fund, Sumac

LUXEMBOURG, Sept. 13, 2022 /PRNewswire-PRWeb/ -- Spark+ Africa Fund ("Spark+" or the "Fund") has provided a 3-year, USD 2 million loan to Kenya-based Sumac Microfinance Bank ("Sumac"). Sumac is the second investment since the Fund launched in March 2022.

Key Points: 
  • Sumac Microfinance Bank is a fast-growing and profitable microfinance institution, with branches throughout Kenya that take deposits and provide consumer credit, including for clean cooking solutions.
  • LUXEMBOURG, Sept. 13, 2022 /PRNewswire-PRWeb/ -- Spark+ Africa Fund ("Spark+" or the "Fund") has provided a 3-year, USD 2 million loan to Kenya-based Sumac Microfinance Bank ("Sumac").
  • About clean cooking solutions: 900 million people in sub-Saharan Africa lack clean and modern energy for cooking.
  • http://www.moderncooking.org
    About Sumac Microfinance Bank: Sumac is a fully licensed bank regulated by the Central Bank of Kenya.

Singapore's 1982 Ventures Raises US$12.5M in the First Close of Seed Fund

Retrieved on: 
Thursday, December 16, 2021
YC, Hope, Bank, General partnership, INSEAD, Microfinance, BNY Mellon, Lista, GP, Herston, NYSE, Urbanization, Partner, S21, Entrepreneurship, Adoption, Genting Group, CEO, Financial technology, Internet, UOB, Partner (business rank), Neo, Virtual data room, Mellon family, VC, Grameen Bank, Science and technology in Asia, Technology, Video game, Amusement park, Management, Venture, Nasdaq, Carta, Investment, Brick, Homebase

Scott Krivokopich and Herston Elton Powers, Managing Partners of 1982 Ventures, Southeast Asia's leading seed fund focusing squarely on fintech.

Key Points: 
  • Scott Krivokopich and Herston Elton Powers, Managing Partners of 1982 Ventures, Southeast Asia's leading seed fund focusing squarely on fintech.
  • (1982 Ventures)
    Established in early 2020, 1982 Ventures is a Southeast Asia focused venture capital fund that invests in seed stage fintech startups in Southeast Asia.
  • JunYuan Tan, Co-Founder and CEO, of Homebase (a 1982 Ventures portfolio company) stated "1982 Ventures was one of our earliest institutional investors.
  • 1982 Ventures was the clear choice for a fund to provide us an on-the-ground partner that understands fintech in Southeast Asia."

CellPay Brings Lisa West Onboard as Vice President of Business Development

Retrieved on: 
Tuesday, August 3, 2021
Microfinance, Unbanked, Underbanked, Apple Lisa, Trade, Computing, Products

STAFFORD, Texas, Aug. 3, 2021 /PRNewswire/ -- Cellpay management is pleased to announce the expansion of their executive leadership team by welcoming Lisa West as the Vice President of Business Development.

Key Points: 
  • STAFFORD, Texas, Aug. 3, 2021 /PRNewswire/ -- Cellpay management is pleased to announce the expansion of their executive leadership team by welcoming Lisa West as the Vice President of Business Development.
  • Lisa will be focused on the company's national business development.
  • "It's exciting to join a company with such a great track record and so much opportunity to grow," said Lisa West.
  • Cellpay, a fast-growing & unique fintech solution provider for unbanked/undocumented and underbanked, is a large and established player in the prepaid industry.

X Financial to Report Second Quarter 2021 Financial Results on August 10, 2021

Retrieved on: 
Monday, August 2, 2021
Credit, Economy, Finance, Social economy, Weemba, Microfinance

X Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China.

Key Points: 
  • X Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China.
  • The Company is committed to connecting borrowers on its platform with its institutional funding partners.
  • With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate loans to prime borrowers under a robust risk assessment and control system.

First Multilingual Digital Bank for US Immigrants & Ethnic Groups

Retrieved on: 
Friday, July 30, 2021
Microfinance, Service industries, Unbanked, Financial inclusion, Underbanked

AUSTIN, Texas, July 30, 2021 /PRNewswire/ -- Restart is pleased to announce the launch of our digital bank for the immigrant and ethnic market in the United States.

Key Points: 
  • AUSTIN, Texas, July 30, 2021 /PRNewswire/ -- Restart is pleased to announce the launch of our digital bank for the immigrant and ethnic market in the United States.
  • Yet, according to a 2019 report by the Federal Reserve, 22% of American adults (63 million) are either unbanked or underbanked.
  • Minorities, including ethnic groups and immigrants, are often underserved by traditional banks and are considered to be at an economic disadvantage.
  • Restart is a digital bank that is focused on serving this market to ensure greater financial inclusion.

Canada Post and TD enter strategic alliance to expand access to financial services for Canadians

Retrieved on: 
Thursday, July 29, 2021
Financial services, Finance, Economy, Information technology management, Banking, Financial inclusion, Microfinance, Online banking, Bank, Customer support

It can help with personal lending needs, such as emergency home or car repairs or other sudden life events.

Key Points: 
  • It can help with personal lending needs, such as emergency home or car repairs or other sudden life events.
  • Canada Post employees will be trained to direct customers on how to apply to TD for this new financial product, throughan online application or a toll-free number.
  • TD will support customers through the application, decisioning and funding process, and customers will have access to customer support including financial literacy resources and online banking.
  • "We're delighted to partner with Canada Post to provide access and increase financial inclusion across the country," said Andrew Pilkington, EVP Lending Solutions & Specialized Sales Forces, TD.

First Commonwealth FCU Earns National Account Certification Through Bank On Coalition Continuing To Lead Inclusive Banking In The Lehigh Valley

Retrieved on: 
Thursday, July 22, 2021
Microfinance, Geography of Pennsylvania, Lehigh Valley, Geography of the United States, Unbanked, Allentown, Pennsylvania, Underbanked, Allentown station, Lehigh

LEHIGH VALLEY, Pa., July 22, 2021 /PRNewswire/ --First Commonwealth Federal Credit Union, the Lehigh Valley's largest credit unionand leader in inclusive banking, announces their recent national account certification in support of the Bank On Allentown Coalition.

Key Points: 
  • LEHIGH VALLEY, Pa., July 22, 2021 /PRNewswire/ --First Commonwealth Federal Credit Union, the Lehigh Valley's largest credit unionand leader in inclusive banking, announces their recent national account certification in support of the Bank On Allentown Coalition.
  • Their Fresh Start Checking Account has earned National Bank On Certification, bringing a newlevel of inclusivity, access andchoiceto banking and financial education for unbanked, underbanked and underserved consumers in the Lehigh Valley.
  • First Commonwealth FCU was the first Lehigh Valley financial institution to commit support to this important initiative.
  • First Commonwealth FCU also offers workplace banking for employers of any size throughout the Greater Lehigh Valley through their Work First by First Commonwealth FCU Employer Partner program.

Seneca awarded $360,000 for applied research benefiting urban farmers

Retrieved on: 
Wednesday, July 21, 2021
Articles, Economy, Contents, Sustainable food system, Urban agriculture, Seneca people, Seneca, Microfinance

Toronto, Ontario, July 21, 2021 (GLOBE NEWSWIRE) -- Developing a strong and sustainable business a challenge for many urban farmers will be the focus of a new, Seneca-led applied research project, recently awarded $360,000 by the Natural Sciences and Engineering Research Council of Canada and the Social Sciences and Humanities Research Council .

Key Points: 
  • Toronto, Ontario, July 21, 2021 (GLOBE NEWSWIRE) -- Developing a strong and sustainable business a challenge for many urban farmers will be the focus of a new, Seneca-led applied research project, recently awarded $360,000 by the Natural Sciences and Engineering Research Council of Canada and the Social Sciences and Humanities Research Council .
  • As agriculture plays an important role in providing ecological services in cities, this program will incorporate training, mentorship and microfinancing specifically for urban farmers in communities across Canada.
  • They will lead a team of 12 to 15 Seneca student research assistants and work with community partners Greenest City and Toronto Urban Growers .
  • Seneca student research assistants will be interviewing current and potential urban farmers to identify gaps and gain a better understanding of what is needed for successful urban agriculture.