IBM unveils its fifth annual "Next Five in Five" -- a list of innovations with the potential to change the way people work, live and play over the next five years. The Next Five in Five is based on market and societal trends expected to transform our lives, as well as emerging technologies from IBM's Labs around the world that can make these innovations possible.
Omidyar Network announced an $825,000 grant to Praekelt Foundation to support its pioneering use of mobile technology to drive positive social change. Funded through Omidyar Network's Government Transparency investment area, the grant will be used to extend the Foundation's mobile technology platforms across Africa. Built to take advantage of rapidly growing mobile penetration throughout the continent, these mobile platforms will provide the technological foundation and infrastructure for a variety of initiatives focusing on healthcare, education, human rights and government transparency initiatives.
Hughes, who left Facebook in 2007 to become the Obama campaign's director of online organizing, soft-launched Jumo last March. Jumo was designed to let users find, follow and support the causes important to them, and with 3,500 organizations on board at launch, would-be philanthropists should be able to find and follow something of interest upon joining.
Capping microfinance interest rates will hurt the poor. There are better ways to regulate the industry.
India’s microfinance industry has warned it is being pushed to the brink of collapse, as a result of a bank freeze on credit to microlenders triggered by a political crackdown.
India’s commercial banks, which normally provide about $133m a week in credit to the microloan industry, have frozen those disbursals for the past two weeks, as companies wrestle with a backlash in one of their biggest markets, the state of Andhra Pradesh.
Lots of banks are getting on board with basic mobile banking this year, but there's not been too much innovation when it comes to functionality. A handful of banks are leading the way with widely available capabilities that set them apart from the pack.
Bank card issuers will be punished for collecting fees for inter-network ATM internal-network transactions that have not been approved by the State Bank of Viet Nam, said Ho Huu Hanh, a representative of the State Bank’s HCM City branch.
Funds collected through these illegal fees would also be appropriated to the State budget, Hanh warned.
Thirty-five bankers and trainers from 15 institutions in Cambodia, Laos and Viet Nam yesterday participated in a training programme on building sustainable small and medium-sized banking operations in HCM City.
Mobile payment users worldwide are forecast to increase 2.1 percent to 109 million by the end of 2010, a US-based research
firm said in a report.
The world's major greenhouse gas emitters gathered in Washington D.C last week, trying to lay the groundwork for a global deal to fight climate change, but progress was limited. The two-day major economies meeting on climate change was meant to pave the way for international talks in Copenhagen in December, seeking to forge a successor to the Kyoto Protocol, which expires in 2012.
Insurers should think small to tap into one of their biggest opportunities for growth: serving poor people. The financial services industry is facing unprecedented challenges worldwide due to excessive risk-taking. Complicated investment vehicles, insufficient transparency and excessive swapping of credit default risk have had a severe and pervasive impact on confidence. The world's most advanced markets for financial services are reeling in uncertainty.
What happens when you travel to Argentina to learn how to play Polo? You start a sustainable and socially conscious shoe company. Of course... Well, that is exactly what happened to Blake Mycoskie, founder of TOMS shoes.
Cambodian microfinance institutions say economic crisis is taking its toll on the MFI sector and increasing the number of nonperforming loans to more than 1 percent. Microfinance lenders say the economic crisis is leading to higher rates of nonperforming loans in 2009. Last year, bad loans were just 0.67 percent of total lending.
The problems associated with borrowing from microfinance banks (MFBs) by individuals and the cost of operations of the banks will soon be a thing of the past with the coming on board of credit bureaux in the Nigerian financial institutions. Since MFBs grant loan to financially active poor without collateral, it is possible for individuals who consider themselves smart to take loan from different banks with different information.
In the face of major client protection failures in the mainstream financial sector, leaders of the microfinance industry came together this month seeking means to ensure that microfinance providers worldwide remain committed to serving their clients' best interests.
Like the consumer lenders before them, MFIs are also beginning to see the value of sharing information. Yet, credit information markets are generally in their infancy in most developing countries, and if developed, are generally quite fragmented.
Joe DiVanna writes on competitive strategies in Africa banking. To be successful, African banks must learn to think like customers, spend time with customers and ascertain how banking can be used to facilitate today’s changing African lifestyles. The key is to change our perspective on banking and payments. Where bankers see transactions, customers simply see payments.
In economics, the bottom of the pyramid is the largest, but poorest socio-economic group. In global terms, this is the four billion people who live on less than $2 per day.
Welcome to this blog about Microfinance, Innovations and Sustainable Development