Microfinance

ACI Worldwide and InComm Payments Partner to Digitize Cash Payments, Driving Financial Inclusion Amid the Pandemic

Retrieved on: 
Monday, March 1, 2021
Software, Internet, Finance, Banking, Data management, Professional services, Technology, Mobile, Wireless, Financial services, Economy, Finance, Microfinance, ACI Worldwide, ACI, Unbanked, Financial inclusion, Cash, Payment

For some consumers, such as the unbanked or underbanked populations, cash payments are essential.

Key Points: 
  • For some consumers, such as the unbanked or underbanked populations, cash payments are essential.
  • By offering alternatives for consumers to make cash payments, we are not only helping to improve the payment experience but driving financial inclusion as well.
  • As digital payments proliferate across the bill payment industry, it is important to provide a cash payment option for those who lack the means to make digital payments, said Sanjay Gupta, executive vice president, ACI Worldwide.
  • ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both.

Innovative Payment Solutions, Inc. Announces Signing a Service Agreement with Interface Investment Capital, LLC.

Retrieved on: 
Monday, March 1, 2021
Financial services, Finance, Articles, Microfinance, Unbanked, Online payments, Debit card, Payment, TSYS

IIC employees will have access to payroll prepaid debit cards, cross-border payments infrastructure, significantly lower cost for international remittances via IPSICoin, and financial payment services that include unbanked and underbanked customers.

Key Points: 
  • IIC employees will have access to payroll prepaid debit cards, cross-border payments infrastructure, significantly lower cost for international remittances via IPSICoin, and financial payment services that include unbanked and underbanked customers.
  • According to data provided by Employment Development Department, State of California, California Agricultural Employment 2019 Annual Average was slightly above 422,000 thousand workers.
  • Todd Owen, CFO of Interface Investment Capital, LLC, added, "We look forward to working with Innovative and have chosen their services as a unique opportunity to integrate our existing financial infrastructure with IPSIPay ecosystem.
  • Innovative Payment Solutions, Inc. strives to offer cutting edge digital payment solutions for consumers and service providers.

Delta Air Lines Teams Up With Operation HOPE to Support Employees Managing Their Financial Health

Retrieved on: 
Friday, February 26, 2021
Finance, Money, Economy, John Hope Bryant, Operation HOPE, Inc., Microfinance, Financial literacy, Financial inclusion

Operation HOPE's virtual coaching services will be available to the entire Delta workforce of 80,000 employees in key hub cities starting with the largest base Atlanta.

Key Points: 
  • Operation HOPE's virtual coaching services will be available to the entire Delta workforce of 80,000 employees in key hub cities starting with the largest base Atlanta.
  • "We are excited that with this innovative collaboration, Delta will become our first-ever, national HOPE Inside the Workplace partner, offering comprehensive financial coaching as a standard workplace wellbeing practice," said Operation HOPE Founder, Chairman and CEO John Hope Bryant.
  • Operation HOPE is America's leading nonprofit financial inclusion organization for the underserved, and "America's Financial Coach for All".
  • Operation HOPE pioneered financial literacy in the banking sector, and inspired President George W. Bush to make financial literacy the policy of the U.S. Federal Government.

EMTECH and The Bank of Ghana Announce Partnership to Deploy Modern Central Sandbox™ to Accelerate Innovation, Provide for a Robust Financial Infrastructure, and Promote Financial Inclusion for the Unbanked and Underbanked

Retrieved on: 
Friday, February 26, 2021
Finance, Banking, Data management, Professional services, Technology, Articles, Money, Finance, Microfinance, Financial technology, Blockchain, Unbanked, Underbanked, Bank of Ghana

EMTECH, a first-of-its-kind fintech for central banks, today announced a partnership with the Central Bank of Ghana to deploy its Modern Central Bank Sandbox Platform.

Key Points: 
  • EMTECH, a first-of-its-kind fintech for central banks, today announced a partnership with the Central Bank of Ghana to deploy its Modern Central Bank Sandbox Platform.
  • The Central Bank of Ghana confirmed the collaboration in a release.
  • The partnership with the Bank of Ghana will leverage EMTECHs software to test innovative solutions, including blockchain, while accelerating their time to market.
  • This approach promotes new products and services, bridging the gap for unbanked and underbanked, and creates new pathways for the efficient and secure movement of money for individuals and organizations.

Ingenious Financial Announces Plan to Raise $200M Series A Funding

Retrieved on: 
Wednesday, February 24, 2021
Economy, Finance, Money, Microfinance, Underbanked, Bank

ARLINGTON, Va., Feb. 24, 2021 /PRNewswire/ --Banking veterans and owners of Ingenious Financial today announced plans to raise $200 million Series A funding to purchase an existing bank.

Key Points: 
  • ARLINGTON, Va., Feb. 24, 2021 /PRNewswire/ --Banking veterans and owners of Ingenious Financial today announced plans to raise $200 million Series A funding to purchase an existing bank.
  • DarnellParker, founder of Ingenious Financial , and Derek Taylor,Chief Operating OfficerofIngenious Financial,aresetting out to ownabank to better serve underserved and underbanked communities.
  • Mr.Parkersays,"When larger financial institutionsabsorbed some of theminority deposit institutionsbanks, they left a tremendous void for these banks,who previously servedminoritycommunities by providingsmall to medium-sized business loans."
  • Bank of Ingenious founders have spent the past several months preparing for the capital campaign and meeting with prospective acquisition targets.

Element Announces Country Directors of Indonesia and the Philippines

Retrieved on: 
Tuesday, February 23, 2021
Finance, Money, Economy, Banking, Financial inclusion, Microfinance, Financial technology, Viber, Tala, Identity verification service

SINGAPORE, Feb. 24, 2021 /PRNewswire-PRWeb/ -- Element, Inc. , the privacy-led, modern AI pioneer in digital identity services, announced the appointment of its new Country Director of Indonesia, Ardelia Apti, and Country Director of the Philippines, Kristian Melquiades.

Key Points: 
  • SINGAPORE, Feb. 24, 2021 /PRNewswire-PRWeb/ -- Element, Inc. , the privacy-led, modern AI pioneer in digital identity services, announced the appointment of its new Country Director of Indonesia, Ardelia Apti, and Country Director of the Philippines, Kristian Melquiades.
  • Mr. Melquiades joins Element from Banana FinTech, a financial technology company, following Country Head roles at Tala and Viber.
  • "Building a regional Super App demonstrated for me how closely-tied eCommerce is to digital financial services, and the importance of driving more financial inclusion in the country," said Ardelia Apti , Country Director of Indonesia.
  • "I am excited to be part of the Element team and play an important role of impact for digital inclusion in the Philippines," said Kristian Melquiades , Country Director.

CPABC recognizes Leanne Cheng for her service to the community

Retrieved on: 
Tuesday, February 23, 2021
Microcredit, Microfinance, Edmonton, Inventions

As a board director with Talent Beyond Boundaries, a not-for-profit that matches refugees with companies in need of their skills, Cheng guides the organizations financial and operational risk management.

Key Points: 
  • As a board director with Talent Beyond Boundaries, a not-for-profit that matches refugees with companies in need of their skills, Cheng guides the organizations financial and operational risk management.
  • From 2012 to 2020, she served as a board director with Windmill Microlending, a charity providing microloans to immigrants for training and education.
  • Cheng has also served as an intake reviewer with the Edmonton Food Bank, assisting clients and providing referrals to community resources.
  • The philanthropic work of volunteers like Leanne brings a positive impact on communities and the lives of others.

Persistent and FinMkt Partner to Bring Point of Sale Digital Lending Solutions to Banks and Credit Unions

Retrieved on: 
Tuesday, February 23, 2021
Finance, Money, Economy, Financial services, Social economy, Bank, Economic history of Italy, Credit union, FinMkt, Microfinance

FinMkt and Persistent will provide banks and credit unions with the technology to compete in point of sale financing.

Key Points: 
  • FinMkt and Persistent will provide banks and credit unions with the technology to compete in point of sale financing.
  • "The combination of FinMkt and Persistent will provide banks and credit unions with the much-needed technology to compete in the point of sale financing space and to stay relevant.
  • Persistent's world-class systems integration expertise coupled with FinMkt's best-of-breed point of sale digital lending technology platform will empower consumers with more and better financing options.
  • "We are excited to strengthen our partner ecosystem with FinMkt's lending technology platform which will now enable us to empower banks and credit unions to offer point of sale digital lending solutions at scale, and accelerate their digital transformation journey rapidly."

VEON's Mobilink Microfinance Bank wins prestigious Diversity & Inclusion CSR Award

Retrieved on: 
Monday, February 22, 2021
Economy, Articles, Telenor, Mobile payments, Companies, Mobilink, JazzCash, VEON, Microfinance, VEON

AMSTERDAM, Feb. 22, 2021 /PRNewswire/ -- VEON Ltd.(NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that its digital bank in Pakistan, Mobilink Microfinance Bank (MMBL), has won a CSR award as a "Diversity & Inclusion Leader" for its Humqadam initiative at the 10th Annual CSR Summit in Pakistan.

Key Points: 
  • AMSTERDAM, Feb. 22, 2021 /PRNewswire/ -- VEON Ltd.(NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that its digital bank in Pakistan, Mobilink Microfinance Bank (MMBL), has won a CSR award as a "Diversity & Inclusion Leader" for its Humqadam initiative at the 10th Annual CSR Summit in Pakistan.
  • During this rotation, they undergo an intensive three-month training programme, undertake projects and receive mentoring from team leaders.
  • MMBL was recently recognised as "Digital Microfinance Bank of the Year" by the CFA Society Pakistan and was a semi-finalist in the recent European Microfinance Awards.
  • Mobilink Microfinance Bank Ltd. is Pakistan's largest digital bank with over 27 million registered users.

India Microfinance Market Report 2020: Small Finance Companies Accounted for the Highest Market Share FY 2020 - Opportunities & Forecast to 2025

Retrieved on: 
Monday, February 15, 2021
Economy, Articles, Small finance bank, Microfinance, Cooperative banking, Ujjivan Small Finance Bank, Satin Creditcare Network Limited, Jana Small Finance Bank

By Bank type segmentation, the market is categorized into Small Finance Companies, Commercial Banks, Regional Rural Banks, and Cooperative Banks.

Key Points: 
  • By Bank type segmentation, the market is categorized into Small Finance Companies, Commercial Banks, Regional Rural Banks, and Cooperative Banks.
  • Small Finance Companies accounted for the highest market share in FY 2020, followed by Commercial Banks and Reginal Rural Banks.
  • In FY 2020, South region accounted for more than one-third of the market share, followed by West, North and East regions.
  • Major players operating in the Indian Microfinance Market include Jana Small Finance Bank Limited, Belstar Investment and Finance Private Limited, Ujjivan Small Finance Bank Limited, Satin Creditcare Network Limited, Annapurna Microfinance Pvt.