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Impak Finance Says Its Launching Canada’s First Socially Responsible Bank
Consumers are becoming more and more engaged. They want to buy local, from ethical companies with social and environmental aims. They want that transparency, and they want to help to improve our society. This change is also apparent in the banking system, where social enterprises are expanding in Canada and elsewhere; this industry has also seen the emergence of several non-traditional banking models across the planet. A good example is Triodos, a bank in the Netherlands that did not lose a penny through the economic crisis of 2008, as a result of investing solely in the impact economy – that which has a direct impact on the community — rather than the financial economy.
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- Uncategorized
- Region
- North America
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What Digital Finance Means For Emerging Economies
Financial services are the lifeblood of an economy, enabling households and businesses alike to save, invest, and protect themselves against risk. Yet in many emerging economies today, the majority of individuals and small businesses lack access to basic savings and credit products, which hinders economic growth and perpetuates poverty.
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- Uncategorized
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Center for Financial Services Innovation Unveils Framework for Responsible Industry-Wide Sharing of Consumer Financial Data
The Center for Financial Services Innovation (CFSI) today released its guide for the responsible sharing of consumer financial data: "Consumer Data Sharing Principles: A Framework for Industry-Wide Collaboration."
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- Uncategorized
- Tags
- fintech
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Global Microscope Highlights Gains in Financial Inclusion and Digitization of Financial Services
Financial inclusion is now on the global agenda and is understood to be a critical foundation in the improvement of livelihoods, according to The Economist Intelligence Unit's (EIU) 2016 Global Microscope on Financial Inclusion. More than half of the 55 countries studied improved their enabling environment for financial inclusion in all areas in the past year.
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- Uncategorized
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The Mismatch: Customers Seek Holistic Solutions, Financial Service Providers Operate in Silos
Digital financial service providers too often operate in silos, designing products to solve particular financial needs. Meanwhile, users tend to blend a mix of formal and informal financial services to meet their needs. The challenge for FSPs is to recognize users' behaviors and respond accordingly, particularly to their need for flexibility and timeliness.
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- Uncategorized
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Grameen Foundation and Freedom from Hunger Unite as One Global Organization
Grameen Foundation and Freedom from Hunger, two global leaders in the fight to end poverty, announced today that they are joining forces to form a single unified global organization. Under the banner of Grameen Foundation, the combined organization will be able to reach more people across the spectrum of poverty, while deepening the focus on the very poor, especially women, its leaders say.
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- Uncategorized
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Payday Loans Emerging As Nascent Market in India
Payday loans are decried a scourge, a menace and our dubbed "loan sharks" in the US and UK. With very high interest rates of 45%-50%, payday loans are given in advance of the next pay cheque and cater to blue collar workers, who are paid on a weekly basis. In India, payday loans are at a nascent stage and just taking off with a host of startups like RupeeLend, MoneyinMinutes, QuickCredit, Money4You.
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- Uncategorized
- Region
- South Asia
- Tags
- lending
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Hello Paisa Wins Second Annual MasterCard Foundation Clients at the Centre Prize
The MasterCard Foundation today presented its second annual Clients at the Centre Prize to Hello Paisa. The US$150,000 Prize recognizes the company’s innovative work in South Africa to facilitate international money transfers for foreign workers.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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