Articles

Consumer Protection in a Digital Age

The Smart Campaign launches new standards and guidance covering digital financial services, especially credit.

Articles

Articles

Reinventing Small Business Banking Through New FinTech Trends
This Medium articles shares why finTechs hold potential to change the course of small business banking. According to ADB survey in 2017, with only 20 percent of firms using digital finance platforms, small businesses are looking for game-changing solutions in payments, capital and equity spaces. Article topics discussed include address information...
How Unbanked Filipinos Get Access to Credit
Financial Inclusion Week is a week of global conversation on the most important steps to advance financial inclusion. This year, stakeholders explored how new products and partnerships are empowering customers. Building on the momentum, SME Finance Forum member, Mambu, shared stories of their clients who have gone digital to inspire organisations...
Digital Trends for SMEs to Close the Credit Gap
As a new SME Finance Forum member, Mambu was excited to participate in the Global SME Finance Forum and host a study tour at their Berlin office. The Forum gathered over 400 representatives from SME lenders and banks, as well as donors and investors to discuss how the digital revolution can help SMEs gain better access to financial services. But...
Balazs Topor on Innovation in Digital Banking
Balazs Topor is SME Product & Segment leader at Raiffeisen Bank. He has more than 15 years’ experience in SME banking and in-depth expertise in customer value creation, segment differentiation and product design. Continuing with the SME Finance Forum Interview series , member Strands wanted to address another underserved segment - SMEs - and...
Digital Credit: Data Sharing Can Improve Product Diversity
A more open, consumer-friendly data environment should benefit consumer welfare, competition and providers’ risk management strategies. Many lenders do not have sufficiently deep or comprehensive data to offer customized products that go beyond small-value loans for personal consumption (e.g., business loans to microentrepreneurs based on...
Look at financial inclusion for innovation
We overlook the innovation of the unwanted, says Chris Skinner, which is where the reinvention of finance is emerging. In concluding my recent thoughts, I’m left reflecting on a similar idea to the one I blogged about a couple of weeks ago: about a world turned on its head . This time, it’s a different take on the same conundrum. We live in the...
Five Fintechs Disrupting MSME Finance
Big data is changing everything from the way we shop to how we travel. Financial technology companies (fintechs) are now following in the footsteps of giants like Amazon, Airbnb and Uber to transform the banking industry in the digital age. Fintech solutions have shown particular promise across emerging markets where big data is used in advanced...
FinTech Upstarts Challenge Usefulness of Traditional Consumer Credit Scoring, the FICO Score
A Wall Street article “ Silicon Valley: We Don’t Trust FICO Scores” is currently making waves concerning the usefulness of traditional credit scoring, the FICO score. A new generation of lenders (FinTech upstarts) is challenging the usefulness of one of the bedrocks of the modern financial system: the FICO score.
Alternative Lending: JP Morgan Validates A New Business Model for Banks
JP Morgan recently announced a pilot project with OnDeck, one of the largest alternative lenders and one of the first, having started operations in 2007. This is only the most notable example of banks or credit unions entering “partnerships” with alternative lending companies (AFCs). Over 200 small business platforms exist in the small business...
How to Overcome the SME "Alt Fi" Knowledge Gap
There has been much talk about the dearth of traditional bank loans to SMEs since the credit crunch, with the conventional narrative increasingly detached from reality as market confidence and conditions improve. But this jaded dialogue has disguised another issue: the rapid and seemingly unrelenting decline of the small business overdraft. In...
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