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Tough task for Kenya in race to raise credit for small businesses
Kenya lags behind sub-Saharan Africa in credit provision to small and medium-sized businesses (SMEs), highlighting the funding challenges facing local entrepreneurs, a new report shows. The report, ‘The Mobile: Deeping Financial Inclusion But at a High Cost’ shows that the total credit as a percentage of the gross domestic product (GDP) stands at...
How fintech is setting Southeast Asia’s SMEs free
A lack of previous credit history creates a vicious cycle for SMEs. Loan applications with missing information are automatically rejected by formal institutions, which leads SMEs to again go back to informal sources of funding. To solve this problem, the question that needs to be tackled is: how can underwriting of SME loans be simplified, given...
The Mobile Revolution in Banking: From China to the U.S.
New analysis provides a glimpse of the future as countries like China pave the way for a whole new system of banking. China is seeing an “explosive growth of mobile payments. With a record $12.8 trillion in mobile payment transactions from January – October 2017, China far surpasses the U.S. at only $49.3 billion,” according to data. Dana Nino, an...
Banco BNI Europa Joins 150 Other Financial Institutions to Promote SME Finance
Washington, D.C. May 28, 2019 – Banco BNI Europa became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide need financing...
Members News: Ecobank Ghana Introduces Unified Electronic Payment Solution for Merchants
SME Finance Forum member, Ecobank Ghana, has unveiled Ecobank Pay - a multi-featured digital payment solution, to boost digital payment in the country. According to the bank, the product delivers a unified and instant self-service payment solution to more than 15,000 merchants – a product that allows anyone to buy a product or service without...
Medical Credit Fund Joins 150 Other Financial Institutions to Promote SME Finance
Washington, D.C. May 14, 2019 –  Medical Credit Fund (MCF) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide need...
The Future of SME Banking: Minds Made for Redefining Financial Services
In this EY has outlined a number of questions they believe firms need to ask themselves with respect to how they can really help the SME community, considering how they can provide additional insight, tools and services that will best serve their customers. Firms that answer these questions the best are likely to come out on top, not just in this...
Member News: Mastercard Champions Women Business Owners Throughout National Small Business Week and Beyond
Mastercard is helping share the stories of the women across the U.S. who are contributing over $3 trillion to today’s economy and opening over eighteen hundred businesses every single day. Today the company announced the launch of a national advertising campaign that puts the spotlight on women business owners who are driving impact. Mastercard is...
Joyce Tee, Managing Director and Group Head of SME Banking for DBS, Details the Importance of Insurance for SMEs During the SME Finance Forum 2018
During the Global SME Finance Forum 2018, Joyce Tee, Managing Director and Group Head of SME Banking for DBS Bank, encouraged SMEs to consider the necessity of insurance for their business. “Insurance has a way to actually cover a lot of [SMEs] risks. This is about how to make education, awareness of insurance that is accessible [and]...
Banco Amazonas Joins 150 Other Financial Institutions to Promote SME Finance
Washington, D.C. May 7, 2019 –  Banco Amazonas became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide need financing...