Microfinance


TransferTo and Fern Software get UN funding for payments push

Cross-border mobile payments network TransferTo and banking software provider Fern Software have both been awarded a grant as a part of the United Nations Capital Development’s Shaping Inclusive Finance Transformation (Shift) Challenge Fund, reports Julie Muhn at Finovate (Banking Technology’s sister company). The goal of the fund is to use remittances to improve the economic power of women […]

Utkarsh Small Finance Bank goes live with Intellect’s core banking system

Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]

Kenya leads Africa in financial inclusion innovation

Kenya is leading the way when it comes to digital innovation for financial inclusion in Africa, according to research by the Consultative Group to Assist the Poor (CGAP). Earlier this year, CGAP says it invited firms and organisations to submit proposals for digital innovations they believe have the most potential to advance financial inclusion in […]

Microcred looks ahead with BankBI business intelligence software

Microfinance entity Microcred has chosen BankBI’s business intelligence software applications as part of its move into retail banking. As reported last year, Microcred said it plans to become a fully-fledged retail bank and grow its presence from nine to 17 countries by 2020. It has opted to keep its long-standing technology provider, Temenos, and upgrade […]

Innotribe unveils ten start-ups for Africa challenge

Innotribe, Swift’s innovation arm, has named the ten firms who will compete in its Start-up Challenge Africa. The start-ups will pitch their products in Abidjan, Ivory Coast, on 17 May 2017 during Swift’s African Regional Conference. Innotribe evaluated close to 100 applications received for the third edition of the Startup Challenge in Africa. The applications […]

BIM, Peru’s first mobile money wallet: lessons learnt

Peruvian mobile wallet BIM, described as “the world’s first fully-interoperable national mobile money platform”, will launch new services in H2 2017. It will enable customers to pay electricity, water and telephone bills, as well as have access to micro savings and loans, and micro-insurance.