Financial Inclusion
IFC, MAS, and WEF Sign MOU to Boost Digital Inclusion in Emerging Economies
The International Finance Corporation (IFC), Monetary Authority of Singapore (MAS), and the World Economic Forum have committed to a Memorandum of Understanding, aiming to enhance digital inclusion in emerging and developing economies. This initiative seeks to address the disparities faced
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Universal Trusted Credentials Launched to Improve MSMEs’ Access to Lending
A collaborative effort involving the United Nations Development Programme (UNDP), the Monetary Authority of Singapore (MAS), the Bank of Ghana (BoG), the Global Legal Entity Identifier Foundation (GLEIF), and the SME Finance Forum has resulted in the launch of Universal
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Banking the Unbanked: KBZPay and Financial Inclusion
Forecasting the necessity of payments in tech enabled economies, JP Morgan’s Global Head of Payments Takis Georgakopoulos believes that “payments are eating the world, and anybody who doesn’t recognize that and adapt will not survive”. In KBZ Bank’s quest for
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GoTo and Bank Jago Roll Out New Bank Account Offering in Indonesia
Indonesia’s GoTo Financial and Bank Jago, a Gojek-backed digital bank, have launched a new bank account offering that can be accessed directly through the GoPay and Gojek apps. Touted to be first of its kind in Indonesia, ‘GoPay Tabungan by
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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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Embedded Finance in Southeast Asia is Revolutionising Financial Services
Embedded finance in Southeast Asia is a thriving trend that is rapidly changing the banking and financial services landscape. 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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