Collateral and Secured Transactions

When a woman wants to start or grow her own business, the odds of securing a business loan are heavily stacked against her. This affects women like Yeo from Ivory Coast, who was unable to take out a loan for her farming business because, as a woman, she did not own any land that the bank required as collateral.

Data says 80 percent of women-owned businesses with credit needs are either unserved or underserved. This is equivalent to a massive $1.7 trillion financing gap. In this piece, name asks for financial institutions to stop asking for collateral.

Designed for World Bank Group Task Team Leaders, Collateral Registry Operators, Government Officials, Financial Institutions and Fintech players, the World Bank Group has developed a compelling and interactive online Learning Course on the topic of Secured Transactions and Collateral Registries reforms. Divided in four modules, this course aims to enhance subject matter expertise in legal, institutional, operational and technical aspects of Secured Transaction and Collateral Registries reform and movable asset-based lending.
 

New analysis provides a glimpse of the future as countries like China pave the way for a whole new system of banking. China is seeing an “explosive growth of mobile payments. With a record $12.8 trillion in mobile payment transactions from January – October 2017, China far surpasses the U.S. at only $49.3 billion,” according to data.

Dana Nino, an executive vice president at Geoswift, a Hong Kong payments firm said, “banks need to be aware that there’s a different model spreading...it’s the platform that gets the direct data from purchases, not the bank.”

Washington, D.C. March 13, 2019 – JUMO became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. 

PYMNTS queried 25 executives well-seasoned in tech, payments and commerce to gain insight on everything from A to Z ― from AML to Zelle, you might say ― and beyond.

As part of the OPTIX project, funded by MetLife Foundation and run by BFA, SAJIDA in early 2017 started exploring options to improve operational efficiency and better serve its members. SAJIDA identified mobile money (MM) as a significant opportunity to cut costs and improve the customer experience thanks to ease of collecting loan payments and savings. Since December 2017, SAJIDA has offered MM as a new way for loan recipients to make repayments and save at an initial five branches that serve about 10,000 members. 

During the Global SME Finance Forum 2018, Jumo's Martin Vogdt, Chief Product Officer, demoed the company's services at the TechPitch on November 6. 

Jumo is an alternative lender in Africa and Asia providing nano loans to consumers and MSMEs through mobile money rails.

SME Finance Forum member, Brac Bank offers agent banking with plans to recruit 5,000 agents in the next five years. 

The idea was introduced 20-25 years ago, according to the article, however the service did not begin until five years ago.

Customers who live in remote areas will now be able to access around the clock services at the agent banking outlets; open accounts, deposit and withdraw cash, fixed deposit receipt, transfer funds, receive foreign remittance, pay utility bills and insurance premiums and get disbursed loans.