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SME Alternative Financing Methods

The US$5.2 Trillion MSME Finance Gap

The International Finance Corporation (World Bank Group) has published its latest assessment of the shortfalls and opportunities in financing micro, small and medium enterprises in emerging markets.  According to this assessment the potential demand for MSME Finance is US$8.9 Trillion compared to the current credit supply of US$3.7 Trillion.  This leaves a finance gap of US$5.2 Trillion.  The report can ... Read More »

MAS and HKMA Joined Hands to Promote FINTECH Growth and Innovation

New Developments Helping Trade Finance, Small Businesses The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) signed a cooperation agreement on fintech this week in Hong Kong. The first initiative is a project based on distributed ledger technology (DLT) to help facilitate trade finance cross-border infrastructure. Additional details are expected to be announced in November, said ... Read More »

PayU and Kreditech in Global Partnership

Kreditech, a leading technology group for digital consumer credit using machine-learning based underwriting, has closed a EUR 110 million investment from global online payment service provider PayU.  The landmark investment is the largest ever equity investment in a German fintech company and builds on a successful 12-month pilot programme in Poland. As part of the deal, Kreditech and PayU agree ... Read More »

Alibaba Makes Its First FinTech Investment In Hong Kong

Alibaba has expanded its investment portfolio in Hong Kong and has chosen Qupital to be its first FinTech investment in the city.  Qupital has just secured a seed investment round of $2 million, led by MindWorks Ventures and Alibaba Entrepreneurs Fund, with co-investment from DRL Capital, Aria Group and several other investors. The funding will be used to enhance its ... Read More »

Background Information: BIIA 2017 Biennial Conference Bangkok, Thailand October 18 to 20, 2017

BIIA Biennial Conference 2017

The event was sold out!    Similar to the BIIA 10th Anniversary Conference, the BIIA 2017 Biennial Conference was sold out.  Over 140 delegates from 26 countries attended the conference.   The BIIA 2017 Biennial Conference was much more than a traditional gathering of credit and business information industry professionals. This was a critical event for our members, customers, policy makers and ... Read More »

Save the Date: Global SME Finance Forum 2017

The Global SME Finance Forum 2017 will be held November 1-3 in Berlin, Germany. The annual flagship event of the SME Finance Forum will bring 400+ senior executives from commercial banks, development finance institutions, fintech companies, as well as regulators to focus on leveraging digital banking to serve MSMEs.MSMEs have long been an important customer base for financial institutions, and ... Read More »

Equifax Appointed by P2P Lending Platform Flender to Support SME Loans

Equifax UK has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised.  The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan applicants, providing Flender with ... Read More »

China’s MIIT Issues SME Informatization Guidelines

China’s Ministry of Industry and Information Technology (MIIT) recently issued new guidance on promoting small and medium-sized enterprise (SME) informatization, indicating that by 2020, the level of information technology used by Chinese SMEs should be substantially upgraded. SMEs should continue to incorporate new information technologies such as cloud computing, big data, and Internet of Things into their core business processes, ... Read More »

Alibaba to Expand Investment in ASEAN

Alibaba will boost investment and development in ASEAN, according to founder and chairman Jack Ma.  Alibaba will “participate in the development of local small- and medium-sized enterprises and young people,” said Ma at the opening ceremony of the 13th China-ASEAN Expo in Nanning, which runs from Sunday to Wednesday. He did not, however, elaborate or share any specific plans.  China-ASEAN ... Read More »

FinTech: Clearbanc Launches new Type of Banking Service for Uber Drivers

Clearbanc a new banking service designed to meet the unique needs of America’s +50M self-employed freelancers and independent professionals, launches a new type of banking service for the millions of self-employed Americans. Its first product is a service for Uber drivers that allows them to get paid instantly instead of waiting up to 10 days. With Clearbanc, Uber drivers receive ... Read More »

BIIA Participates in Financial Infrastructure Development Network (FIDN) Workshops

Representing BIIA, Peter Sheerin was recently invited as a global credit reporting expert to attend as a speaker the first (of two) Financial Infrastructure Development Network (FIDN) workshop(s) on March 14-15, 2016 in Manila, Philippines. The FIDN initiative is an integral part of the 2015 APEC Finance Ministers’ Cebu Action Plan which in part focuses on the key areas on ... Read More »

EU Commission Launches Capital Markets Union Action Plan

The European Commission is launching an action plan to build a Capital Markets Union for the EU’s 28 Member States by 2019. The overall aim of the Capital Markets Union is to link savings with growth and give companies greater choice about where and how they get their financing. European businesses remain heavily reliant on banks, which makes the economy ... Read More »

India Launches Micro Units Development Agency (MUDRA BANK) to Aid SMEs

Indian startups and small businesses have a reason to cheer, Rs 20,000cr (US$3bn) funding to be made available The Narendra Modi-led BJP government announced to build a refinance agency in order to provide much-needed credit facilities to small business units called the Micro Units Development Refinance Agency or MUDRA Bank. On April 8 the Prime Minister Narendra Modi will launch ... Read More »

Alibaba Group Restructures Loan Division

Alibaba Group has announced the company’s completed restructured relationship with Zhejiang Ant Small and Micro Financial Services (Ant Financial) – now officially parent company of Alipay and Alibaba’s small- and medium-sized enterprise (SME) loan business. Alibaba Group and Ant Financial first agreed on a purchase agreement prior to Alibaba’s IPO in September 2014. The restructuring sees Alibaba reduce its risks ... Read More »

Leasing: An Alternative Means of Financing SMEs

According to Eurostat, one of the main reasons SMEs report as creating difficulties in their accessing financing is their inability to provide sufficient collateral or guarantees to the lender.  One knows too well that little is known about the success factors of an SME and its credit history which may be even a greater reasons for the lack of access ... Read More »