Li told Reuters in an interview that in “traditional finance” investing in SMEs was rarely worthwhile for global institutions as the due diligence was difficult, risks were high and funding amounts small.

Through this partnership FinScore will intensify its focus on delivering alternative credit scoring to help financial institutions reduce high default rates and prevent fraudulent activity.

Amartha will use the funds from US-based Lendable to encourage women micro entrepreneurs.

With more people avoiding physical cash amid the COVID-19 pandemic, digital payments are becoming more popular in Japan.

The Fijian Parliament passed the National Payment System Act, paving the way for this reform program to boost access to affordable payment services through digital solutions and support the drive for greater financial inclusion.

The annual survey on mobile payments showed 98 percent of respondents indicated mobile was their most commonly used payment method, up 5 percentage points from 2019.

Under an agreement, IFC will provide PasarPolis with $5 million in equity finance to develop infrastructure to connect insurers, digital platforms and customers unserved by the traditional insurance sector.

Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.

These findings were from a survey to better understand how the COVID-19 pandemic has affected the remittance habits of those living in Malaysia.

The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.