News

Nigeria’s KiaKia using big data to offer SMEs access to loans

Nigerian startup KiaKia is helping to make direct and peer-to-peer consumer and SME loans accessible and obtainable for underbanked and unbanked Nigerians without credit histories through its online proprietary credit scoring and risk assessment algorithm.

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PayU and iwoca combine to simplify SME lending decisions
Iwoca, the international lending firm, and PayU, a leading payment service provider, have today launched an innovative collaboration aimed at making it easier for small and medium-sized (SME) entrepreneurs, particularly those in the eCommerce and eService industries, to obtain financing for growth. The collaboration marks the first venture of this...
Digital ways to pay - why should SMEs bother?
Is going digital for your payments really worth the hassle of changing over? IntegraPay CEO Chris Urry explains some of the benefits that digital payment services offer busy business owners. If someone had told you 10 years ago that we would be producing invoices on our phones, you would have laughed, especially when we were all working on...
IFC and Monetary Authority of Singapore Collaborate to Advance FinTech Innovation in Asia
IFC, a member of the World Bank Group and the Monetary Authority of Singapore (MAS) signed a memorandum of cooperation today, agreeing to work together to establish and develop the ASEAN Financial Innovation Network (AFIN). The network aims to facilitate broader adoption of financial technology (FinTech) innovation and development, and enhance...
ikOOba Technologies launches software to bridge funding gap between SMEs and finance providers
According to Wall Street Journal, 3 in every 4 small businesses fail. In 2013, the Micro Small Medium Enterprises (MSMEs) sector employed 84 per cent of the total labour force in Nigeria, according to the National Bureau of Statistics. However, 75 per cent of all Micro Small Medium Enterprises (MSMEs) fail in the first two years due to a lack of...
Member News: IFC to invest $50m in Dhaka-based BRAC Bank
International Finance Corporation (IFC) will provide $50 million to Dhaka-headquartered BRAC Bank Ltd to initiate the Banking on Women (BOW) program in Bangladesh. In a disclosure, IFC said the first-of-its-kind program will respond to the large unmet demand for financial services for women in Bangladesh, particularly women-owned small and medium...
A new role for development banks?
Earlier this month, development banks from around the world took stock of where they stand and where they see their efforts having the greatest impact at a meeting organized by the World Bank and Brazil’s development bank, BNDES. As the world struggles to find funds to meet the Sustainable Development Goals, development banks can be instrumental...
Vietnam to facilitate SMEs growth through funds, incentives
Increased access to funding and new legislations are among the measures being rolled out by the Vietnamese government to support the country’s small- and medium-sized enterprises (SMEs).Late last month, the Ministry of Planning and Investment (MPI) announced four preferential loan programmes to be made available to SMEs this year under its SME...
Global SME Finance Forum 2017 - Meet our Study Visit Hosts
The Global SME Finance Forum 2017 will be held November 1-3 in Berlin, Germany. This annual flagship event of the SME Finance Forum, which focuses on “digitization of SME finance,” will convene senior executives from financial institutions, fintechs and regulators from both emerging and developed countries. The two day conference taking place on...
The coolness factor in banking
Except for people at Fintech Meetups or students at business schools, no one actually thinks banking is “cool”. For them, it earns money – yes. It is necessary - yes. But cool? NO. The average citizen prefers dealing with his insurance company, rather than sitting down to do his financials, and more people would wear a t-shirt sponsored by a Trump...
Qupital secures $2Mn from Alibaba to expand its SME financing platform
Qupital has secured $2 million in a seed round of funding led by Mindwork Ventures and Alibaba Entrepreneurs Fund. What’s more impressive, apart from the investment size, is that both the firms have invested for the first time in a Hong Kong-based FinTech startup. The round witnessed participation of few other investors including DRL Capital and...