Microfinance

Innovative Payment Solutions, Inc. Launches Digital Platform “IPSI Payroll™” for B2C and Signs Its First Beta Customers

Retrieved on: 
Tuesday, February 9, 2021
Financial services, Microfinance, Unbanked, Banking, Finance, Online payments, Mobile payments

The IPSI Payroll platform will create a recurring revenue model for the Company while acquiring additional market share of unbanked and underbanked customers at a minimal acquisition cost.

Key Points: 
  • The IPSI Payroll platform will create a recurring revenue model for the Company while acquiring additional market share of unbanked and underbanked customers at a minimal acquisition cost.
  • Our partners will greatly benefit from the reduced cost of payroll processing, while also providing convenience and cost reduction to their employees.
  • William Corbett, CEO of Innovative Payment Solutions, Inc., commented: We see the IPSI Payroll platform as a revolutionary product for the industry.
  • Innovative Payment Solutions, Inc. strives to offer cutting edge digital payment solutions for consumers and service providers.

Global Mobile Payments Markets Report 2021: Unbanked Mobile Payment Market will Reach $421 Billion by 2026

Retrieved on: 
Monday, February 8, 2021
Economy, Money, Finance, E-commerce, Payment systems, Microfinance, Unbanked, Mobile payment, Underbanked, Digital wallet

This report evaluates leading mobile payment companies, strategies, and provides a market outlook with forecasts for 2021 - 2021.

Key Points: 
  • This report evaluates leading mobile payment companies, strategies, and provides a market outlook with forecasts for 2021 - 2021.
  • The report also assesses the mobile payments market for "unbanked" or "underbanked", which is the norm for many in developing countries as well as those between the lower middle class and the poverty segment in developed countries.
  • The publisher also sees merchant subsidization as a means of funding mobile wallets, particularly for the unbanked segment.
  • Many merchants increasingly support and encourage mobile payments because they are quick, easy, and linked to existing, well-known financial processing systems.

Morocco: EIB and JAÏDA sign finance contract to support microlending by microfinance institutions

Retrieved on: 
Thursday, January 28, 2021
Economy, Articles, European Union, Economic development, Microfinance, Poverty, Social economy, Sustainability, Sustainable development, European Investment Bank

The European Investment Bank (EIB) and JADA, a lender to microfinance institutions, have announced the signing of a loan agreement worth 10million (over MAD108million) to support income-generating activities in Morocco.

Key Points: 
  • The European Investment Bank (EIB) and JADA, a lender to microfinance institutions, have announced the signing of a loan agreement worth 10million (over MAD108million) to support income-generating activities in Morocco.
  • This agreement strengthens JADAs ability to lend to the countrys microfinance institutions, while underpinning its work in the areas of financial inclusion and social development.
  • With this financing, JADAs loan portfolio is expected to remain at between MAD800million and MAD900million (between 74million and 84million) per year.
  • Since its creation in 2007, JADA has invested nearly MAD3.3billion (300million) in Moroccos microfinance sector.

Equity-Driven Deaf-led Grant Provider for Deaf-led Organizations, Unites Community Foundation, Celebrates Launch on January 26th

Retrieved on: 
Tuesday, January 26, 2021
Microfinance, Microgrant, Collaboration, Articles, Deafness

The Foundation is a grant provider and partner that works collaboratively with deaf-led organizations and communities to achieve long-term, widespread impact.

Key Points: 
  • The Foundation is a grant provider and partner that works collaboratively with deaf-led organizations and communities to achieve long-term, widespread impact.
  • The CSD Unites Community Foundation works collaboratively with deaf-led organizations and communities to achieve long-term and widespread impact.
  • These investments are made via the disbursement of microgrants, facilitation of capacity-building networks, and support of community mobilization efforts.
  • Led by the world's largest Deaf-led social impact organization , the Unites Community Foundation is well-positioned to remove these barriers.

SUKU Releases Social Impact DeFi Protocol with the Goal of Supporting Those Underserved by Traditional Financial Systems

Retrieved on: 
Friday, January 22, 2021
Articles, Cryptocurrencies, Economy, Decentralization, Decentralized finance, Ethereum, Suku, Blockchain, Microfinance, Defi

LOS GATOS, Calif., Jan. 22, 2021 /PRNewswire-PRWeb/ -- SUKU , a blockchain-based, supply chain transparency solution, releases SUKU DeFi.

Key Points: 
  • LOS GATOS, Calif., Jan. 22, 2021 /PRNewswire-PRWeb/ -- SUKU , a blockchain-based, supply chain transparency solution, releases SUKU DeFi.
  • The social impact protocol serves as the foundation for SUKU's microfinancing ecosystem to support the unbanked and underserved.
  • Brands and retailers can show support for social impact initiatives by making SUKU DeFi available to their suppliers as well."
  • When a supplier provides data inputs to the SUKU Ecosystem to verify product transparency, they will gain access to DeFi services through the SUKU DeFi protocol.

Emerging from COVID: An Opportunity to Reinvent Credit for Latino-Owned Businesses

Retrieved on: 
Thursday, January 21, 2021
Economy, Finance, Money, Personal finance, Credit, Banking, Financial inclusion, Microfinance, Credit score, Small business

LOS ANGELES, Jan. 21, 2021 /PRNewswire/ -- The Q4 2020 Latino Small Business Credit Survey edition is a review of 2020 highlighting credit trends relating to Latino-Owned Businesses (LOBs).

Key Points: 
  • LOS ANGELES, Jan. 21, 2021 /PRNewswire/ -- The Q4 2020 Latino Small Business Credit Survey edition is a review of 2020 highlighting credit trends relating to Latino-Owned Businesses (LOBs).
  • Camino Financial offers policy guidance for the Biden-Harris administration to promote the financial inclusion of LOBs.
  • The survey shows that lenders are targeting larger businesses with longer operational history and higher credit scores.
  • Camino Financial is a data-driven fintech platform pioneering affordable credit for U.S. small businesses.

Latinia invests in fintech company Ábaco to boost financial inclusion in the region

Retrieved on: 
Friday, January 15, 2021
Technology, Finance, Consulting, Banking, Other Technology, Professional services, Software, Internet, Consumer electronics, Other Professional Services, Microfinance, Unbanked, Baco, Service industries, Access to finance, Articles

Latinia, a software vendor specializing in real-time event processing for financial institutions has recently announced its investment in the SaaS fintech company baco, which operates in Colombia and Mexico and provides financial access to unbanked individuals.

Key Points: 
  • Latinia, a software vendor specializing in real-time event processing for financial institutions has recently announced its investment in the SaaS fintech company baco, which operates in Colombia and Mexico and provides financial access to unbanked individuals.
  • baco develops a groundbreaking software for the generation of credit histories, the lack of which is a barrier preventing millions of workers from gaining access to credit.
  • According to McKinsey, last year approximately 70 percent of the population over 15 years old lacked full or partial access to banking services.
  • Reaching this segment of the population means serving the heart of many countries' economies," explains baco CEO and founder Victoria Blanco Alegra.

Customers Bank Creates White Label Turnkey Solution Empowering Lenders to Participate in PPP Loan Programs

Retrieved on: 
Thursday, January 7, 2021
Banking, Professional services, Finance, Economy, Money, Articles, Economic development, Microfinance, Poverty, Social economy, Sustainability, Sustainable development, Paycheck Protection Program, Bank, Community development financial institution

Customers Bank is offering banks, credit unions, community development financial institutions, minority deposit institutions, microfinance institutions, and other lenders and non-profits a white label turnkey end-to-end PPP origination, funding, and loan forgiveness solution.

Key Points: 
  • Customers Bank is offering banks, credit unions, community development financial institutions, minority deposit institutions, microfinance institutions, and other lenders and non-profits a white label turnkey end-to-end PPP origination, funding, and loan forgiveness solution.
  • Customers Bank made the decision to help other lenders in an effort to support a greater number of small businesses across the nation.
  • The bank created the white label product to empower lenders to direct their clients to an online loan application for the Second Draft PPP loans.
  • Customers Bank, a subsidiary of Customers Bancorp, Inc. a bank holding company, is a full-service super-community bank with assets of approximately $18.8 billion at September 30, 2020.

BigBrainBank disrupts financial brokerage trading ecosystem with digital bank initiative

Retrieved on: 
Wednesday, December 30, 2020
Articles, Economy, Economic development, Microfinance, Poverty, Social economy, Sustainability, Sustainable development, Broker, Remittance, Crowdfunding

LONDON, Dec. 30,2020 /PRNewswire/ -- BigBrainBank has stepped up a notch with the impending launch of BigBrainBank Digital Bank in the first quarter of 2021.

Key Points: 
  • LONDON, Dec. 30,2020 /PRNewswire/ -- BigBrainBank has stepped up a notch with the impending launch of BigBrainBank Digital Bank in the first quarter of 2021.
  • BigBrainBank Digital Bank is set to disrupt the financial brokerage trading system and spearhead faster, more efficient digital payments, remittances and lending services that are facilitated through systemic collaborative partnership within an integrated app that is safe, secure and seamless.
  • Core services include:
    BigBrainBank connects people, technology, broker trading platforms and crowdfunding for microfinancing services all within one ecosystem.
  • BigBrainBank is also in the midst of finalizing negotiations with other companies including brokers, banks and financial institutions to bring more brands and support services to reinforce the digital bank structure.

BigBrainBank disrupts financial brokerage trading ecosystem with digital bank initiative

Retrieved on: 
Wednesday, December 30, 2020
Articles, Economy, Economic development, Microfinance, Poverty, Social economy, Sustainability, Sustainable development, Broker, Remittance, Crowdfunding

LONDON, Dec. 30,2020 /PRNewswire/ -- BigBrainBank has stepped up a notch with the impending launch of BigBrainBank Digital Bank in the first quarter of 2021.

Key Points: 
  • LONDON, Dec. 30,2020 /PRNewswire/ -- BigBrainBank has stepped up a notch with the impending launch of BigBrainBank Digital Bank in the first quarter of 2021.
  • BigBrainBank Digital Bank is set to disrupt the financial brokerage trading system and spearhead faster, more efficient digital payments, remittances and lending services that are facilitated through systemic collaborative partnership within an integrated app that is safe, secure and seamless.
  • Core services include:
    BigBrainBank connects people, technology, broker trading platforms and crowdfunding for microfinancing services all within one ecosystem.
  • BigBrainBank is also in the midst of finalizing negotiations with other companies including brokers, banks and financial institutions to bring more brands and support services to reinforce the digital bank structure.