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IFC has announced its partnership with DBS in order to launch a USD 500 million facility and promote trade flows in global emerging markets.
partnership, product launch, crypto, trade finance, financial services, financial institutions
Sri Lanka-based Commercial Bank of Ceylon, ComBank, has recently announced a new partnership with the International Finance Corporation (IFC), to develop a supply chain financing (SCF) strategy that will help the bank to lend more to local SMEs.
lending, SMEs, SME lending, partnership, banks, financial services, financial institutions, financial inclusion, cross-border logistics, supply chain finance, funding
US-based IDB Invest has partnered with IFC to launch the Amazon Finance Network in a bid to drive sustainable development in the Amazon region.
green finance, partnership, sustainability , financial institutions
Airtel Money Tanzania and TerraPay have introduced an international remittance service, allowing the former’s customers to transact using their Airtel Money accounts in the UAE.
mobile payments, remittance, cross-border payments, partnership, POS
Global digital payments provider Visa and Philippines-based super app GCash have partnered in a bid to drive financial inclusion.
partnership, product launch, financial inclusion, mobile payments, digital wallet, digitalisation, paytech, fintech
Vanuatu has adopted VANKLIA, a new national digital payment platform to strengthen its digital economy and promote financial inclusion.
digital payments, central bank, financial inclusion, instant settlement, clearing house
The World Bank has partnered with the Inter-American Development Bank to offer customers in Latin America and the Caribbean new opportunities and boots development.
partnership, mobile banking, online banking, digital banking, financial services, financial institutions, banking
Safaricom has announced plans to launch M-Pesa in Ethiopia by the end of September 2023 will have it integrated with more banks.
mobile payments, product launch, expansion, financial inclusion, cashless
UK-based payments infrastructure company TerraPay has received in-principle approval for an MPI licence from the Monetary Authority of Singapore.
MPI licence, payments , expansion, payments infrastructure
Open Banking Exchange (OBE) has delivered rules and standards for the delivery of Open Finance in the Philippines, taking the role of pilot administrator.
Open Banking, Open Finance, financial inclusion, digitalisation, central bank
The International Finance Corporation has announced its partnership with Bangko Sentral ng Pilipinas and World Bank to launch the Open Finance PH Pilot.
partnership, product launch, mobile banking, online banking, digital banking, banking, Open Banking, Open Finance
Kenya-based asset financing platform M-KOPA has received around USD 250 million in new funding to offer underbanked African customers access to assets with digital micropayments.
lending, credit scoring, funding, debt facility, equity
Netherlands-based fintech company TerraPay has raised USD 100 million in equity and debt financing to expand its payments infrastructure.
TerraPay, funding, Request to Pay, expansion, compliance
Umba, a Nigeria-based digital bank, has acquired a 66.6% stake in Daraja, a Kenya-based microfinance outfit, as it aims to expand its presence on the continent.
banks, acquisition, merger, digital banking, digitalisation
Financial exclusion is not just a problem for the population in developing countries; it is also a major issue for advanced economies
financial inclusion, financial services, unbanked
The Superintendency of Banks (SB) and the International Finance Corporation (IFC), of the World Bank Group, have signed a letter of commitment for the design and implementation of Open Banking, as a first step for the adoption of this scheme in the Dominican Republic.
Open Banking, financial institutions, banks
Mexico-based digital bank Klar has raised USD 70 million in equity funding at a valuation of USD 500 million.
digital banking, funding, mobile payments, BNPL, startup
India-based B2B BNPL platform Mintifi has raised USD 40 million in its Series C round of funding led by Norwest Venture Partners and Elevation Capital.
funding, BNPL, B2B payments, marketplace, supply chain finance
Egypt-based social ecommerce platform Brimore has announced it raised USD 25 million in a Series A funding round led by the International Finance Corporation (IFC) and Endure Capital.
ecommerce, online platform, ecommerce platform, digitalisation, merchants
Open Co, a São Paulo-based consumer credit company, has raised USD 115 million in a round led by SoftBank Latin America Fund, according to TechCrunch.
investment, funding, digital payments