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FMO Entrepreneurial Development Bank Joins 150 Other Financial Institutions to Promote SME Finance
Washington, D.C. June 4, 2019 – FMO Entrepreneurial Development Bank (FMO) 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...
How Fintechs Are Demystifying The Idea That It Is Hard To Lend To MSMEs
Jessica Alfaro, a Financial Sector Specialist at the SME Finance Forum, was the introductory speaker on the Corporate and Commercial panel at the Accenture Fintech Forum “What is Really Working” on May 13. This event was part of the FinTechStage Festival 2019 taking place over five days in Milan, Italy. Alfaro was joined on the panel by speakers...
Sharmila Hardi of IFC Shares Insight on Key Players Lending to SMEs and Issues Aside from Finance Affecting SMEs During the SME Finance Forum 2018
During the Global SME Finance Forum 2018, Sharmila Hardi, Senior Manager, IFC explains that banks have always perceived SMEs to be quite risky to lend because SMEs usually don’t have track records, the loans they request are rather small and regulators require high risk-weighted assets for SME lending. “But while banks have exited from lending to...
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...
Hans Docter, Director for Sustainable Economic Development at the Netherlands Ministry of Foreign Affairs, Talks About Their Commitment Towards Mobilizing More Finance for SMEs During the SME Finance Forum 2018
During the Global SME Finance Forum 2018, Hans Docter, Director for Sustainable Economic Development, at the Netherlands Ministry of Foreign Affairs, discussed the role innovation plays in respect to mobilizing more finance for SMEs. Hans Docter said, “Millions of small businesses are not getting the finance they need [and] in order to deliver...
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...
Country Report Myanmar Entrepreneurial Ecosystem Assessment
Since 2011, Myanmar has been on a path of transition from military rule and a state-controlled economy, towards democracy and a market-based economy whilst also managing the challenge of wealth creation. These transitions are taking place in a context of religious and ethnic diversity – the Burmese majority accounting for two-thirds of the...
Disruptive Technologies in the Credit Information Sharing Industry: Developments and Implications
This note analyzes the evolution of CISs, including the emergence of new technologies that use alternative data in credit decisioning and the opportunities and risks associated with these trends. This paper also predicts the potential development effect of these disruptive technologies and proposes a role for the World Bank Group in leveraging...
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...
Interview: Ceyla Pazarbasioglu on Financial Inclusion
Ceyla Pazarbasioglu spoke to Financial Times to discuss what she thinks of financial inclusion. She said it is the core mission of the World Bank, where she has been vice-president for equitable growth, finance and institutions since October of last year. In the Middle East and Africa, she says, fintech’s role in financial inclusion is seen as a...