Category: Finance

In today’s consumer- and regulation-centric world, accurate credit reporting data is the heart of the credit reporting ecosystem. Handling disputes appropriately is imperative for lenders, as these can reveal potential inaccuracies in furnishing that need to be remediated to avoid customer harm or unwarranted regulatory attention to a lender’s reporting and disputes practices. As we […]

Research has shown that financial inclusion can contribute to improvements in both financial and non-financial outcomes for young women. However, the ~590 million young women in the world (defined as women ages 15-24) are a tremendously diverse group, transitioning through different life stages within vastly different contexts. Considering these differences, among which segments of young […]

Rural agent business models can play a critical role in expanding financial inclusion. As part of CGAP’s Agent Networks at the Last Mile initiative, we’ve identified providers across the world that have been successful in developing such models at scale, therefore playing a critical role in furthering financial inclusion. Bancolombia, the largest bank in Colombia, […]

Layoffs abound in the crypto world, as they have since early May. The year switched anew on the calendar, yet the sector gets no “new year, new me” shift: More than 26,000 jobs were lost in crypto in 2022. By press time, the 2023 tally had numbered no less than 1,900. It’s hard to predict […]

Dive Brief: JPMorgan Chase wants to finance the development of a media business for Italy’s top-tier soccer league, in a deal worth up to €1 billion ($1.08 billion), Reuters reported Thursday, citing sources with knowledge of the matter. The bank’s interest in the 20-club Serie A marks an attempt by JPMorgan to revisit a soccer-focused […]

Goldman Sachs will pay CEO David Solomon $25 million for his work in 2022, the bank disclosed Friday in a Securities and Exchange Commission filing. That’s a 28.6% drop from the $35 million Solomon made in 2021. Friday’s pay package also ensures he is no longer the highest-paid CEO at a U.S. Wall Street bank. […]

Visa, Mastercard and American Express all reported double-digit revenue increases for the last quarter of 2022 as their payment volumes rose on consumer spending that remained sturdy despite the threat of a recession this year. The card companies’ growth for the quarter slowed, compared to earlier in the year, as they moved past comparisons to […]

Wells Fargo CEO Charlie Scharf asked the bank’s board to pay him less than it could have, according to a Securities and Exchange Commission filing Thursday. The bank will pay Scharf $24.5 million for 2022, the same amount it did for the previous year, it said. Wells Fargo’s board had established a target compensation level […]

For the past decade, India has been a leader in developing its digital public infrastructure to enable the next generation of inclusive financial development (see India Stack). Despite significant advances, however, formal credit in rural and low-income households remains a significant challenge. Per the 2021 Global Findex, 45% of adults reported borrowing in India; however, […]

Cote d’Ivoire’s mobile money market is an excellent opportunity to reflect on whether market disruptions contribute to financial inclusion, given a recent revamp of mobile money business models in the country. CGAP analysis identified significant risks from this change that could reduce financial inclusion in rural areas. These risks will require monitoring by industry and […]