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How immigrants are driving digital transformation of U.S. remittances
There are about 43.7 million immigrants in the United States, and remittances sent from here by foreign-born immigrants rose to $66 billion from $50 billion over the past five years, according to the World Bank.
- Categories
- Finance
- Region
- North America
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Kenya is finally softening its stance on blockchain technology
Kenya has for years regarded blockchain technology and digital currencies with suspicion, comparing bitcoin to a “pyramid scheme,” and emphasizing that it had no legal footing.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- blockchain, cryptocurrency
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Rwanda’s central bank urges MFIs to automate to reduce bad loans
The National Bank of Rwanda (BNR) has called on microfinance institutions (MFIs) across the country to embrace automation and reduce the rate of bad loans before the end of the year.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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World Economic Forum leads creation of fintech cyber security consortium
The World Economic Forum has led the creation of an industry consortium focused on improving the cybersecurity of financial technology companies, as collaboration between fintechs and financial institutions grows.
- Categories
- Finance
- Tags
- cybersecurity, fintech
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Multinationals yielding to allure of M-Pesa
For a while, Google required consumers in Kenya to pay for apps and games bought from its Play Store and Game Store using credit cards, as though they were in developed countries such as the US where there is a widespread use of cards.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech
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Madagascar: $45 Million to Promote Financial Inclusion of Individuals and Small Enterprises
Madagascar Financial Inclusion project will specifically target women and women-owned enterprises, to reduce disparities in access to finance for women. The direct beneficiaries of the project will include teachers, students and taxpayers that will have the option to receive and make government payments through an e-money transaction account.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Why India’s fintech, e-com firms fear Google, Facebook
In the fight between information technology, fintech and e-commerce firms in India and Google and Facebook, the global giants seem to be winning hands down. It is becoming a matter of survival for these sectoral ones, as one-stop solutions such as business listings, travel bookings, money transfers and financial services are available on both platforms and these firms rely on Google and Facebook to promote their services.
- Categories
- Finance
- Region
- South Asia
- Tags
- e-commerce, fintech
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Indian e-wallets are gasping for breath
Till now, using an e-wallet involved merely downloading the app, registering one’s mobile phone number, and linking it to one’s bank account. Now, customers also need to complete a more detailed KYC procedure within a year, which involves visiting a company-approved centre and getting documents physically verified. With this additional step, the industry has lost its most important pull-factor: convenience.
- Categories
- Finance
- Region
- South Asia
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