Category: Finance

Open banking has been a hot topic for financial communities around the globe over the last five years, with several countries embarking on a process to solve the distinct challenges in their local markets. Open banking initiatives need to be well designed to harness and deliver the benefits they promise both consumers and financial service […]

Adebisi, a peri-urban micro retailer in Nigeria, has struggled to grow and expand her business for years as she’s had to rely exclusively on financing from family and friends. However, the recent proliferation of fintechs that provide inventory financing and logistics support for delivery of her purchased stock have gone a long way in solving […]

Cryptocurrency advocates often hail its great advantage over physical money: the ability to traverse borders in nanoseconds with no regard for jurisdictions – just like email. For low-and-middle income individuals living in crisis contexts where transactions to and from abroad are severely restricted, this ability has the power to make cryptocurrency an inclusive substitute for […]

The recent COVID-19 pandemic saw an unprecedented response to the expansion of government-to-person payment programs (G2P) as countries adopted new ways to quickly transfer funds to their citizens. The World Bank estimates that roughly 760 million people have received G2P payments digitally since the beginning of the COVID-19 pandemic and that digital payment programs on […]

If you’ve been following CGAP’s Cash-in Cash-out (CICO) and funder series, you’ve heard us make the case for why funders should be focusing on CICO rural agent networks and layout recommendations for what funders can do to advance these networks. Our recently published Technical Note provides more details. But how to do so isn’t always […]

Morgan Stanley is penalizing individual bankers for conducting company business on messaging platforms such as WhatsApp, in connection with an investigation by regulators that drew $1.8 billion in fines last year from 11 Wall Street institutions. The bank is either clawing back funds from previous bonuses or deducting money from future pay — in penalties […]

Dive Brief: Sen. Elizabeth Warren, D-MA, on Wednesday praised Securities and Exchange Commission Chair Gary Gensler’s efforts to rein in the crypto market, but said the regulator still needs to do more to bolster its scrutiny of the industry in an effort to fight fraud. In a speech at a virtual event hosted by the […]

The largest department store in Mexico wants to use brand recognition to position itself as a worthy place to keep and manage money for Mexican Americans. Grupo Coppel, parent company to the Coppel chain of department stores, launched a Federal Deposit Insurance Corp.-insured mobile wallet app Tuesday that offers users digital and physical debit cards […]

Dive Brief: DailyPay, the New York City-based early wage access provider, has received $160 million in lending through a new revolving credit facility from Barclays bank and hedge fund firm Angelo Gordon, plus a $100 million term loan from the venture capital firm SVB Capital and investment company Neuberger Berman, according to a Tuesday press […]

At Visa’s annual shareholder meeting Tuesday, Visa CEO Al Kelly declared the card giant remains committed to cryptocurrency uses despite their recent turmoil. He also hinted at potential management team changes. The company hasn’t incurred any credit losses in the wake of recent crypto industry setbacks, and investments it made in crypto startups or funds […]