NBFI

NEAR EAST FOUNDATION LAUNCHES SIRAJ FINANCIAL SERVICES TO EXPAND MICRO AND SMALL ENTERPRISE FINANCING IN NORTHERN SYRIA

Retrieved on: 
Friday, February 16, 2024

BRUSSELS, Feb. 16, 2024 /PRNewswire/ -- Near East Foundation (NEF) today announced the establishment of Siraj Financial Services (SFS), a new social enterprise operating in Northern Syria.

Key Points: 
  • BRUSSELS, Feb. 16, 2024 /PRNewswire/ -- Near East Foundation (NEF) today announced the establishment of Siraj Financial Services (SFS), a new social enterprise operating in Northern Syria.
  • Near East Foundation announces the establishment of a new social enterprise operating in Northern Syria.
  • SFS, operating as a non-banking financial institution (NBFI), will upscale and commercialize NEF's successful micro and small enterprise (MSE) financing program, which has been operating in the region since 2021.
  • To date, Siraj Financial Services has dispersed 3,500 loans totaling $4 million to Syrian MSEs.

EMGA Secures a Commitment for USD 30.0 Million Senior Debt Finance for Citizens Development Business Finance PLC in Sri Lanka

Retrieved on: 
Wednesday, January 10, 2024

LONDON, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Emerging Markets Global Advisory LLP (EMGA), an investment bank specializing in emerging markets, has successfully secured a commitment for USD 30.0 million in senior debt finance for Citizens Development Business Finance PLC (CDB) based in Sri Lanka.

Key Points: 
  • LONDON, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Emerging Markets Global Advisory LLP (EMGA), an investment bank specializing in emerging markets, has successfully secured a commitment for USD 30.0 million in senior debt finance for Citizens Development Business Finance PLC (CDB) based in Sri Lanka.
  • EMGA originated, structured, and negotiated this financing arrangement, with the financial support provided by the U.S. International Development Finance Corporation (DFC).
  • We believe this marks a significant milestone, in being the first external funding commitment secured for a Sri Lankan NBFI in several years.
  • Jeremy Dobson, EMGA's Chief Operating Officer commentated, "CDB's strong financial standing enabled EMGA to navigate the prevailing macroeconomic headwinds in Sri Lanka to secure the commitment for this funding.

Revolutionizing Alternative Lending: Beehive's Technological Advancement

Retrieved on: 
Thursday, December 7, 2023

It has rapidly grown into a leading disruptor in the fintech industry, providing an alternative finance solution for small- and medium-sized enterprises (SMEs) in the ever-growing lending ecosystem.

Key Points: 
  • It has rapidly grown into a leading disruptor in the fintech industry, providing an alternative finance solution for small- and medium-sized enterprises (SMEs) in the ever-growing lending ecosystem.
  • The platform serves as the nexus where ambitious businesses converge with forward-thinking investors while creating a seamless channel for financial empowerment.
  • In their pursuit of excellence in innovation and technological advancement, Beehive recently signed off with UAE Trade Connect (UTC) as its newest member and second non-bank entity to join its consortium.
  • To discover more about how UAE Trade Connect transforms the trade finance landscape with cutting-edge technology, please visit uaetradeconnect.ae .

Revolutionizing Alternative Lending: Beehive's Technological Advancement

Retrieved on: 
Thursday, December 7, 2023

It has rapidly grown into a leading disruptor in the fintech industry, providing an alternative finance solution for small- and medium-sized enterprises (SMEs) in the ever-growing lending ecosystem.

Key Points: 
  • It has rapidly grown into a leading disruptor in the fintech industry, providing an alternative finance solution for small- and medium-sized enterprises (SMEs) in the ever-growing lending ecosystem.
  • The platform serves as the nexus where ambitious businesses converge with forward-thinking investors while creating a seamless channel for financial empowerment.
  • In their pursuit of excellence in innovation and technological advancement, Beehive recently signed off with UAE Trade Connect (UTC) as its newest member and second non-bank entity to join its consortium.
  • To discover more about how UAE Trade Connect transforms the trade finance landscape with cutting-edge technology, please visit uaetradeconnect.ae .

Tradewind Finance Named Best Factoring Company Germany 2023 and Best NBFI Management Team Germany 2023

Retrieved on: 
Tuesday, November 7, 2023

MÖNCHENGLADBACH, Germany, Nov. 7, 2023 /PRNewswire/ -- Tradewind Finance , an international trade finance company with headquarters in Germany, has been named winners of the 2023 Global Banking & Finance Awards® for Best Factoring Company Germany 2023 and Best NBFI Management Team Germany 2023.

Key Points: 
  • MÖNCHENGLADBACH, Germany, Nov. 7, 2023 /PRNewswire/ -- Tradewind Finance , an international trade finance company with headquarters in Germany, has been named winners of the 2023 Global Banking & Finance Awards® for Best Factoring Company Germany 2023 and Best NBFI Management Team Germany 2023.
  • The awards were announced by Global Banking & Finance Review, a London-based magazine that delivers business, financial, and technology news read in over 200 countries.
  • Tradewind is also dedicated to implementing new digital technologies that make it easier for their clients to secure timely funding.
  • For more on Tradewind and their trade finance services, which include export factoring and supply chain finance solutions, visit www.tradewindfinance.com .

New Research from WorkFusion and Celent Reveals AI Is Assisting Not Replacing AML Compliance Jobs According to 93% of Banks and Non-Banking Financial Institutions

Retrieved on: 
Tuesday, October 24, 2023

AI is becoming essential for Financial Crime compliance with 86% of organizations stating they will increase their spending on AI and machine learning over the next two years.

Key Points: 
  • AI is becoming essential for Financial Crime compliance with 86% of organizations stating they will increase their spending on AI and machine learning over the next two years.
  • NEW YORK, Oct. 24, 2023 /PRNewswire/ -- WorkFusion , a leading provider of AI digital workforce solutions for banking and financial services, today announced the findings of its new research "Technology Transformation in Financial Crime Compliance. "
  • "And as technology drives improvements in productivity, compliance departments can better support strategies to manage risk and add value."
  • This survey on staffing issues and technology trends in financial crime compliance was designed by Celent and WorkFusion.

DGAP-News: How This Nonbank Lender Could Be Changing The Financial Industry

Retrieved on: 
Thursday, August 25, 2022

Almost five decades later, nonbanks issued 68% of all mortgages in the U.S., demonstrating the financial industry is constantly evolving.

Key Points: 
  • Almost five decades later, nonbanks issued 68% of all mortgages in the U.S., demonstrating the financial industry is constantly evolving.
  • However, NBFIs facilitate alternative financial services, such as investment, risk pooling, financial consulting, brokering, money transmission, and check cashing.
  • Because of their enormous offerings and benefits, consumers have been drawn to loans provided by nonbank institutions.
  • Mill City as an example seems to be gradually carving a niche for itself in the nonbank financial space.

Survey Shows Non-Bank Financial Institutions Prioritizing Security, Compliance, Efficiency

Retrieved on: 
Thursday, May 12, 2022

Atlanta, GA, May 12, 2022 (GLOBE NEWSWIRE) -- Today, Strategic Treasurer and Kyriba release the results of the Non-Banking Financial Institution (NBFI) Survey.

Key Points: 
  • Atlanta, GA, May 12, 2022 (GLOBE NEWSWIRE) -- Today, Strategic Treasurer and Kyriba release the results of the Non-Banking Financial Institution (NBFI) Survey.
  • The survey asked respondents to rank seven competing demands in order of priority.
  • The results are clear, AI and Machine Learning are critical growth areas for companies who are prioritizing security and fraud prevention, said Steve Bullock, Vice President of Financial Services & Insurance at Kyriba.
  • More extensive results from the survey are available via a downloadable report and a webinar today, May 12, at 2PM EDT .

Wallet Factory Wins Gold Stevie® Award In 2022 Middle East & North Africa Stevie Awards

Retrieved on: 
Tuesday, April 5, 2022

Wallet Factory, a FinTech provider of reliable digital financial services and platforms for banks and NBFI, has announced to become the winner of a GOLD Stevie Award for the Innovation in Technology Development in the Financial Services category in the third annual Middle East & North Africa Stevie Awards, sponsored by the RAK Chamber of Commerce & Industry.

Key Points: 
  • Wallet Factory, a FinTech provider of reliable digital financial services and platforms for banks and NBFI, has announced to become the winner of a GOLD Stevie Award for the Innovation in Technology Development in the Financial Services category in the third annual Middle East & North Africa Stevie Awards, sponsored by the RAK Chamber of Commerce & Industry.
  • Wallet Factory has won gold for its tech-driven software solutions for financial businesses by taking part in the only business awards program that recognizes innovative companies across 17 nations in the MENA region.
  • It is an honor for us to get such an outstanding award as acknowledgement of our product excellence, said Michael Miro, CEO of Wallet Factory.
  • Maggie Miller, the President of Stevie Awards commented, We are delighted to recognize the achievements of such a diverse group of organizations across the MENA region in the 2022 edition of the Middle East & North Africa Stevie Awards.