Tag "financial inclusion"
7 Fintechs in South East Asia That’s Making Financial Inclusion Its Mission
Over 70% of adults in Southeast Asia currently lack sufficient access to financial services and millions of small and medium-sized enterprises (SMEs) in the region still face large funding gaps. The underbanked and unbanked is often overlooked by incumbent banks
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The Digital Ecosystems That Will Help Indonesia Reach 80% Financial Inclusion
The Southeast Asia Internet Economy Report 2019 by Google, Temasek, and Bain & Company predicts that Indonesia’s digital economy will more than triple to US$133 billion in 2025, driven largely by increasing acceptance by its more than 260 million population.
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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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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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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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Top 14 Funded Fintech Startups In The Philippines
Fintech startups have been popping up in the Philippines these past few years and many of them have attracted angel investors, venture capital firms, including people in the private debt space, seeing potential in their platforms meant to boost financial
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Fintech for Financial Inclusion in Vietnam
Fintech companies, which leverage technology and digital platforms to provide financial services at lower cost and wider, better access, have a key role to play in Vietnam where only 59% of the population have a formal bank account. A paper
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World Bank Global Findex : Indonesia Leads in Financial Inclusion Progress
The latest Global Financial Inclusion Index (“Findex”) database released today by the World Bank finds that Indonesia’s financial inclusion has made the most progress, across East Asia and the Pacific, in bringing its citizens into the formal financial system in
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How Real-Time Payments Can Support Financial Inclusion
In developing countries, digital banking platforms and real-time payments have been driving financial inclusion, providing the underbanked and financially excluded with affordable and convenient financial services, according to a new report by Vocalink, a Mastercard payments company. The report, titled
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