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SME Access to Finance Issue

FinTech Firm Mambu is Selected to Help Power Lending for Ferratum Group

Cloud banking tech provider Mambu has forged an agreement with the Ferratum Group to power “Ferratum Business”.  This new subsidiary is a designed to provide SME financing and loan service. Mambu’s cloud based, SaaS, will help manage loan application, origination, credit scoring and loan disbursement within one day. According to a release, Mambu’s service will operate in conjunction with existing in-house services already ... Read More »

BIIA APCCIS Workshop on Data Standards

October 29th 2015; Time: 09:30 am to 12:30 pm – Park Lane Hotel, Hong Kong – Limited Seating The purpose of the workshop is to determine whether standardization of data and formats would be of benefit to credit reporting institutions and data users.  Standardization is also seen as a facilitator for greater information sharing between private credit bureaus, public credit ... Read More »

Alibaba’s Affiliate Ant Financial Services Starts Internet Bank: MYbank

One of Alibaba Group’s affiliates, Ant Financial Services Group, and other investors have started a privately owned Internet bank, MYbank, to provide “inclusive and innovative financial solutions” at lower cost to small business and consumers. Other than Ant Financial, investors of MYbank include: Shanghai Fosun Industrial Technology Development Co., Wanxiang Sannong Co., and Ningbo Jinrun Asset Management. The bank has ... Read More »

Alibaba.com Helps SMEs Build Trust in Cross-Border Trade with Trade Assurance

Alibaba enters trade assurance business as a free service to buyers who trade with Alibaba Trade Assurance suppliers Alibaba.com launched Trade Assurance, a free service designed to create trust in trade by giving businesses peace of mind when trading with China.  The ‘ultimate payer’ for the service are customers of Alibaba (suppliers) who qualify as Trade Assurance Suppliers. Through the ... Read More »

USA Risk Climate: Small Business Optimism Reaches ‘Normal’ Level

The G20, the EU and other SME institutions bemoan the fact that SMEs have difficulties in accessing finance and thus retarding growth.  The surprising fact is that in the US only 4% of owners of businesses had problems in financing their operations.  The majority stated that they did not need access to finance! The National Federation of Independent Businesses’ (NFIB) ... Read More »

Small Business Finance:  The Security of Having Funds on Hand

Fico recently set down with Kathryn Petralia, cofounder and head of operations  at Kabbage, to talk about how origination management supports her business. Q: First, how is Kabbage different from traditional lenders? Kathryn: The biggest difference is that we were established in the digital age, so data is at our core. We fill a niche in that we focus on ... Read More »

Credit Bureaus in India May Soon Use Social Media in Credit Scores 

Credit bureaus in India may soon use data and client feedback from social media sites like Facebook, Twitter and Yellow Pages in credit scores Experian, which provides information to companies, gathers a lot of information from the social media space such as comments on Yellow Pages, consumer forums, company websites and published reports. “We are working with a private sector bank ... Read More »

US – Pakistan Credit Initiative Targets Small- to Medium-Sized Pakistani Businesses

A bilateral government initiative aims to grow micro- to medium-sized businesses in Pakistan through a new, U.S. government-launched program. The effort marks the first escalation of business collaboration between the nations, which have seen relations worsen significantly this decade, in some time. Announced recently, the U.S.-Pakistan Partnership for Access to Credit program partners the U.S. Agency for International Development (USAID) ... Read More »

India Launches Micro Units Development Agency (MUDRA BANK) to Aid SMEs

Indian startups and small businesses have a reason to cheer, Rs 20,000cr (US$3bn) funding to be made available The Narendra Modi-led BJP government announced to build a refinance agency in order to provide much-needed credit facilities to small business units called the Micro Units Development Refinance Agency or MUDRA Bank. On April 8 the Prime Minister Narendra Modi will launch ... Read More »

Alibaba Group Restructures Loan Division

Alibaba Group has announced the company’s completed restructured relationship with Zhejiang Ant Small and Micro Financial Services (Ant Financial) – now officially parent company of Alipay and Alibaba’s small- and medium-sized enterprise (SME) loan business. Alibaba Group and Ant Financial first agreed on a purchase agreement prior to Alibaba’s IPO in September 2014. The restructuring sees Alibaba reduce its risks ... Read More »

EU Commission Green Paper on Building a Capital Markets Union – Implications for Credit Information

The European Commission published on February 18th a Green Paper on Building a Capital Markets Union. The Green Paper launches a consultation on the measures to be taken by the EU measures in order to create a single market for capital financing, with the focus on diversifying sources of funding, especially for SMEs, and removing obstacles for cross-border financing. This initiative, ... Read More »

Peer to Peer Lending

In the banking context, peer-to-peer lenders are still “alternative” and they still represent a very small part of the overall lending pie, but with the recent news that Union Bank is going to front end part of their lending with Lending Club one starts to wonder how mainstream these lenders are getting. With advances in technology and the ability mine ... Read More »

Alibaba.com Partners with Lending Club to Offer Loans to SMEs in the U.S.

The Alibaba Group’s B2B e-commerce arm, Alibaba.com, announced the formation of a partnership with the Lending Club, a San Francisco-based lending company listed on the New York Stock Exchange, to provide credit loans to small- and medium-sized businesses (SMEs) in the U.S. U.S.-based SMEs can now apply for credit lines from US$5,000 to US$300,000 through Alibaba.com to finance purchases of ... Read More »

Experian UK Launched new SME Service

New Service Launched to Help UK SMEs Manage their Credit Scores and Improve Access to Finance Experian, the global information services company, announced the launch of a comprehensive new service to help the UK’s 2.2 million SMEs gain better access to credit and improve their chances of securing finance and funding. From the Funding for Lending scheme to crowd-funding, there ... Read More »