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News

Digitizing Payments Can Add $6.2 Billion to Bangladesh’s Annual GDP

The Government of Bangladesh, in partnership with the UN-based Better Than Cash Alliance, just launched its 2022-2025 National Digital Payments Roadmap – a call to action for key public and private sector actors to speed up responsible payment digitization to leave no one behind.

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ADA to Promote Financial Inclusion in Niger via Improved Product Design, Supervision, Funding Framework

The initiative is part of a larger LuxDev effort in Niger that has a total budget of EUR 145 million (USD 156 million).

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Nigeria: Firms Announce $3M Partnership to Drive Financial Inclusion Among Independent Commercial Drivers

Through this partnership, more than 5,000 MAX drivers will also gain access to digital financial services offered by VFD Microfinance bank.

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Wave Mobile Money Becomes the First Fintech Operating in Multiple WAEMU Countries to Get an E-money License

The new E-money license allows Wave to directly offer its current suite of financial products to customers.

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Catalyst Fund to Incubate Six "Inclusive" Fintechs Serving Africa, Latin America

Catalyst will provide each firm with an investment as large as GBP 80,000 ($105,000) and arrange non-financial support from the staff of BFA and various partner investment and consulting firms.

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NanoPay's Aliada Digital Card: The First Fintech Solution Product for Women in Mexico

Officially launched in mid-March 2022, the Aliada Digital Card is available to all Mexican women over the age of 18 who wish to start or improve their credit history or continue exploring new forms of financing.

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Philippines: IFC, IFC Financial Institutions Growth Fund, and IFC Emerging Asia Fund Invest in Voyager Innovations to Expand Digital Financial Services

The investment will enable Voyager to grow its platform and offer integrated, end-to-end digital financial services to consumers, micro, small, and medium-sized enterprises (MSMEs), and large enterprises.

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Wells Fargo and Operation HOPE Team Up to Accelerate Financial Inclusion

New HOPE Inside centers in select Wells Fargo branches increase access to financial education and guidance.

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Enabling Access to Credit for Immigrants, US-Based Fintech Firm Goes to Europe

Nova Credit is on a mission to accelerate financial inclusion for millions of creditworthy individuals who immigrate to new countries every year.

News

Cost Rises for Micro Borrowers as RBI Deregulates Lending Rates

Certain lenders have revised their lending rates upward by as much as 400 basis points as they apply risk-based pricing to arrest the asset quality degradation and the loss they suffered in the last three years.