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Financial Inclusion and Financial Literacy

FINTECH at its Best: Goldman Sachs Enters the Fray

Goldman Sachs is entering online lending!  BIIA editorial comment. Six months ago Goldman Sachs was a lead underwriter on the initial public offering of Lending Club, the biggest and brashest of a new breed of online lenders.  There it got an inside view of how financial disrupters work.  Now this financial powerhouse is looking to disrupt the disrupters, launching its ... Read More »

Australian SMEs Warned: Re-think What You Own and Register on the PPSR

Tips for SMEs from Australia’s leading insolvency, business, trade finance and credit experts Insolvency firms, business advisors, trade finance providers and trusted source of data intelligence, Veda, are warning small to medium enterprises (SMEs) about the consequences of not understanding the Personal Property Securities Register (PPSR).  Not having property interests registered with the PPSR can be devastating if a customer ... Read More »

TransUnion Reveals a Third of Americans Have Never Checked Their Credit Report or Score

According to a recent Google Consumer Survey commissioned by TransUnion, one third (32.7 percent) of Americans surveyed said they have never checked their credit report or score. An additional quarter (24.2 percent) said they had not checked their report or score in over a year. With the challenging economic conditions of the recent years, there is no better time than ... Read More »

Equifax Says Credit Access and Inclusion Act is Unnecessary Legislation

Equifax Inc, (NYSE:EFX) released a statement on December 3rd, 2013 after delivering a letter to the U.S. Senate Committee on Banking, Housing, and Urban Affairs in conjunction with the National Consumer Telecom & Utilities Exchange (NCTUE) which outlines their own alternative to SB1613, the Credit Access and Inclusion Act. SB1613, introduced by Senators Mark Kirk (R-IL) and Joe Manchin (D-WV), ... Read More »

HC International Enters Micro-credit Financing Services

Beijing-based B2B media company HC International announced the formation of a joint venture (JV) with Digital China, to provide micro-credit internet financing services. Subject to the approval and the obtaining of necessary permissions from relevant Chinese authorities, the JV will be 60% owned by Digital China and 40% by HC International.  Pursuant to the Joint Venture Agreement, the total registered ... Read More »

Dun & Bradstreet Credibility Corporation Introduces Mobil APP ‘CreditReporter’

The Dun & Bradstreet Credibility Corporation has introduced a mobile APP, “CreditReporter,” to provide business owners quick and easy access to credit information they need most.  The APP uses the latest technology and is lightning fast.  Among other features, users can see their companies’ profiles and credit scores in real-time, can find out when others are pulling their report, and ... Read More »

SME Access to Finance: The Business Model Seems to Be the Issue

The SME Finance Forum Group on LinkedIn (over 1100 members) conducted a survey to get a sense of priorities in this sector.  The group was polled on four key subjects and the response was as follows: Policies and Regulations:   11% Business Models:  31% Impact on Jobs and Poverty:  11% Data: 15% This indicates a lesser concern about policies and regulation ... Read More »

Many SMEs Unaware of Alternative Financing Options

New research reveals reliance on traditional funding – Nearly two thirds of SMEs cite short-term cash needs as main reason for finance applications Experian UK Poll:  Awareness of different types of business finance is very low among SMEs, with most continuing to rely on traditional bank overdrafts or personal sources of cash for additional funding, according to new research by ... Read More »

IFC (World Bank Group) Establishes the SME Finance Forum

The SME Finance Forum (SMEFF) is a part of the G20’s Global Partnership for Financial Inclusion. SMEFF is a platform for sharing knowledge in small and medium enterprise finance, for promoting best practices, and for collecting data to help set standards in this field.   SMEFF has been created because improving financing for SMEs is critical for creating and sustaining jobs ... Read More »