Small and medium-sized businesses (SMBs) have not had a moment’s rest in the last few years. After enduring a crippling pandemic, they are now navigating interest rate hikes and rising inflation, which are affecting cash flow, said Mike Randall, CEO and co-founder at Simply Asset...
Finfi has added a “save now, buy later” product to its financial wellness platform. With this new purchase-linked savings plan, users can save money in their own Reserve Bank of India (RBI)-regulated account and then receive a discount on a product when they have accumulated...
Britain’s cost of living crisis is at an all-time high as millions of households fall behind payments and struggle to make ends meet. According to Neil Kadagathur, CEO at U.K. FinTech lender Creditspring, self-reported utility expenses have gone up by close to 30% in the...
Swiss cross-border payments network Arf has launched Arf Credit, a product designed to provide instant working capital credit lines for money service businesses (MSBs). “Traditionally, when a money service business wants to send money from one country to another, it has to pre-fund the same...
The Consumer Financial Protection Bureau (CFPB) on Wednesday (April 6) reported that most payday loan borrowers haven’t benefitted from extended payment plans, which lenders must offer to borrowers in a majority of states where payday lending is prohibited, and are instead paying more rollover fees....
Traditional funding methods are seeing headwinds as new models like revenue-based financing (RBF) gain traction across the world. According to Ahmad Coucha, co-founder and CEO of Cairo-based firm FlapKap, leading FinTech capital providers like Canada’s Clearco and Dublin-based Wayflyer have popularized the RBF model, paving...
Digital lending platform Prosper Marketplace is launching the Prosper Card to help people get a handle on their finances no matter where they fall on the credit scale. The credit card offers affordable rates, no annual fee for the first year with autopay, no-fee ATM...
Credit Suisse says it has provided financing to two manufacturing companies using an electronic promissory note, or eNote. The Swiss financial services firm announced the completion of this pilot transaction Tuesday (Jan. 11), saying the technology — built by the Zurich-based FinTech FQX — had...
It might be difficult to imagine living on less than $6 a day, but that’s the reality of 85% of the population in Saharan Africa. In addition to the economic hardships this creates, people in this category are extremely underserved by financial services, as their...