Financial Inclusion
Strong Support for CBDCs in Emerging Asia, But Concerns Loom
The rise of digital technologies has triggered a paradigm shift in the financial landscape, with central bank digital currencies (CBDCs) emerging as a crucial topic of discussion among policymakers and financial professionals globally. As the opportunities and challenges of incorporating
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Are Digital Service Providers’ Financial Inclusion Efforts in Asia Bearing Fruit?
In Southeast Asia, the availability of digital financial service alternatives has had a transformative impact on financial inclusion. These initiatives have empowered individuals and micro-businesses, creating opportunities for job creation, education, improved healthcare, and enhanced livelihoods. The positive outcomes of
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Fintechs Are Outperforming Banks in Driving Financial Inclusion
In Southeast Asia, digitalization and technology are playing an important role in expanding access to financial services and fintech companies are spearheading the movement, a new research by the Centre for Impact Investing and Practices (CIIP), a non-profit established by
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How Embedded Finance Is Revolutionising Financial Services in Southeast Asia
Embedded finance is a thriving trend that is rapidly changing the banking and financial services landscape in Southeast Asia. With around 290 million unbanked consumers in the region, embedded finance has the potential to help improve financial inclusion for those
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ADB, Switzerland Sign US$5 Million Co-Financing Deal to Support Vietnamese Fintechs
The Asian Development Bank (ADB) and Switzerland signed a co-financing agreement of up to US$5 million for Vietnamese fintechs focused on addressing financial inclusion in the country, particularly among small and medium-sized enterprises (SMEs). This funding, along with a US$2
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OCBC Expands Programme to Teach Digital Banking to Another 2000 Seniors
OCBC Bank announced that it will be expanding its Digital Silvers programme to upskill an additional 2,000 seniors with digital banking skills. The OCBC Digital Silvers is a one-on-one training programme for elderly customers aged 60 years and above to
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DBS PayLah! Users Redeemed More Than 1 Million Meal Subsidies in Less Than 3 Months
More than one million hawker meal subsidies have been redeemed by Singapore residents in less than three months since DBS rolled out its ‘5 Million Hawker Meals’ scheme. DBS offered cashbacks of up to SGD 3 to the first 100,000
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Huawei and bKash to Advance Financial Inclusion in Bangladesh in line with SDGs
In the bustling nation of Bangladesh, home to a vast population, a digital transformation has taken the nation by storm as the mobile financial services (MFS) sector experiences unprecedented growth. Recent data from the central bank reveals that a staggering
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GXS Bank Launches Flexible, Instant Personal Loans From S$200
Grab and Singtel’s GXS Bank has launched its instant personal loan product available to all eligible individuals in Singapore which includes having a minimum annual income of S$20,000. Customers can apply for the GXS FlexiLoan from as low as S$200
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Can Fintech in Bangladesh Catch Up with its South Asian Neighbours?
In recent years, Bangladesh has seen rapid growth in its fintech sector, fueled by the widespread adoption of mobile technology. This has enabled financial services to reach millions of previously unbanked citizens, leading to a remarkable rise in financial inclusion
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