Financial Inclusion
With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion
Despite the Myanmar government’s push to expand access to financial services, the country still trails far behind the rest of Asia in rates of participation in formal financial services, financial literacy, savings rates and the use of digital financial services,
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India Turns 350,000 Postmen Into Bankers To Serve Customers In Remote Areas
Across the country, over 350,000 postmen are offering doorstep financial services to people in even the remotest parts of India. They are equipped with a mobile phone and a hand-held biometric scanner to perform tasks of bankers including opening savings
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Grab Takes The Fight to Go-Jek’s Home Turf with US$ 2 Billion Investment
Grab announced today it will invest US$2 billion into Indonesia over a period of five years with the capital invested by SoftBank, to accelerate the development of the country’s digital infrastructure. The investment will go towards creating a next-generation transportation
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SoCash Sees Participation from Vertex Ventures in its US$ 6 Million Series B Round
SoCash, a Singapore based fintech announced today that it has raised US$ 6 Million in its Series B funding round led by Japan based cashed automation player Glory Ltd and participated by Standard Chartered’s SC Ventures alongside Vertex Ventures. SoCash’s
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Philippines’ 7-Eleven to Deploy 300 ATMs By Next Year
Philippines’ 7-Eleven is eyeing to deploy 300 ATMs in Metro Manila by next year. In doing so they will be teaming up with Japan’s Seven Bank, who is currently operating a network of 18,000 ATMs across 7-Eleven’s in Japan through
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Singapore’s Fintech Adoption Has Increased by Almost Three Times in Just Two Years
In just two years, the rate of Fintech adoption among Singapore consumers has almost tripled, according to the EY Global FinTech Adoption Index 2019. Singapore’s adoption rate jumped from 23% to 67% between 2017 to 2019. The jump positions Singapore
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Winners of Inclusive Fintech 50
MetLife Foundation and Visa, with partners Accion and IFC, launch inaugural list to help fintech companies attract capital and resources to benefit the 3 billion financially underserved people globally. MetLife Foundation and Visa with global nonprofit Accion and World Bank
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What Have We Learned from Sandboxes and Innovation Offices?
If properly regulated, technology-enabled financial services such as mobile payments, peer-to-peer (P2P) lending, alternative credit scoring, and new forms of savings and insurance, can accelerate the rise in financial inclusion for the 1.7 billion people worldwide who do not have
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Experian Expands Innovation Lab to Tackle Financial Inclusion
Experian, a consumer financial data service provider is currently expanding its Experian X Labs, an innovation lab looking into becoming an Asia Pacific incubator and collaboration center. The goal is partly to address the gaps in financial inclusion well-known amongst
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PLDT’s Voyager Seals US$40M Investment from IFC
Voyager Innovations, the fintech arm of the Philippines’ top digital telecommunications firm PLDT Inc, has sealed a US$40 million investment from International Finance Corp (IFC), and IFC Emerging Asia Fund with both acquiring a minority stake in the company. Voyager
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