Global climate finance from multilateral development banks grew by 25 percent in 2023 to a record $125 billion, according to a report on Friday, with the fastest growth coming in richer countries.

Latin American fintech Clara has launched a payment account in Brazil that it expects will help it reach $1.23 billion in transactions in 2024.

Britain plans to set up a new body over the next two years to encourage more competition in banking services through the use of third-party apps from fintech firms.

According to the company MNT-Halan provides small- and micro-business lending, payments, consumer finance and e-commerce.

Voyager, which serves 47 million people through its consumer platforms that include e-wallet and digital payments, said the fresh capital will fund its digital banking venture and other services like cryptocurrency and micro-investments.

New legislation and regulatory changes in Egypt are set to unleash a surge in new fintech investments and change the way the country’s largely unbanked citizens do business, industry players say. 

Small transfers of bitcoin to El Salvador jumped over four-fold in May from a year ago but still represent a small amount when compared to remittances sent in dollars.

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.

Mobile money firms across Africa are ramping up plans to bring banking to millions after the pandemic caused a surge in the use of digital financial services.

Remittances sent to Mexico, a major support for the Mexican economy and in particular for low-income families, continued its historic 2020 run and rose in July to the third highest level on record.