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SME Access to Finance Issue

Russian Small Business Community is Poised to Take on a Larger Share of the Economic Activity

Small business accounts of 30% of the annual revenue of Russian businesses.  This assessment is based on an analysis by Credinform Russia of financial statements of the fiscal year of 2016. Since the beginning of market reforms in Russia, economists have argued about the important role of small business in the development of the domestic economy, as exemplified by other ... Read More »

Banks Need to Fear E-commerce Company’s Ambitions

Banks around the world have spent the past few years preparing for competition from small, nimble technology startups. It turns out the real threat may be Jeff Bezos and Jack Ma. Financial institutions have parried the threat from fintech firms by incorporating some of their innovations through partnerships and in-house coding teams, according to McKinsey & Co.  In its annual banking report, ... Read More »

Embracing New Technology: More Small Businesses Taking Credit/Debit Payments

Small business owners look like they’re embracing new technologies when it comes to the types of payments their businesses will accept, allowing more in-person credit and debit card payments using point-of-sale terminals. According to the latest Wells Fargo/Gallup Small Business Index conducted in early October, 39% of business owners now accept credit or debit card payment, up from 31% in ... Read More »

Lendingkart Finance Partners with CIBIL Marketplace

Fin-tech startup, Lendingkart Finance Ltd. has announced its partnership with Transunion CIBIL, one of India’s leading credit information companies. Through this partnership, self-employed professionals and small business enterprises will now be able to access loans offered by Lendingkart Finance on the CIBIL MarketPlace platform. TransUnion CIBIL maintains one of the largest collections of consumer credit information along with creating information ... Read More »

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 »

Asian Development Survey Suggests Fintech, Digitization Still Not Significantly Impacting Trade Finance Gap

Banks and companies in the trade finance sector are increasingly using digital solutions to address companies’ significant and unmet financing needs. Yet the global trade finance gap—estimated at $1.5 trillion, with approximately 40% originating in Asia and the Pacific—persists in a stable state, with emerging economies and small- and mid-size enterprises (SME) bearing the brunt of financing shortfalls. More than ... Read More »

Trade Finance Revenues Hit Seven-year Low

Global trade finance revenues reached their lowest level in seven years, with a 5% decline year-on-year for the first half of 2017. Total trade finance revenues for the ten largest global transaction banks (Bank of America Merrill Lynch, Barclays, BNP Paribas, CITI, Deutsche Bank, HSBC, JP Morgan, Société Générale, Standard Chartered and Wells Fargo) fell to US$2.8bn compared to US$2.9bn in ... Read More »

SME Lending: Credibly Continues Growth with $500M Origination Milestone, BizFi Portfolio

Credibly’s products rely on data science and machine learning Leading “fin-data” SMB lender Credibly will now be servicing the portfolio of competitor lender BizFi, adding BizFi’s $250 million portfolio and 5,200 merchants to its platform.  Along with the BizFi decision, Credibly also announced today that it has hit $500 million in originations to tens of thousand of SMBs, a milestone for the company ... Read More »

Google & Intuit Partner in Small Business Cash Management

Google and Intuit are pairing up to help Australian small businesses (SMBs) get a better grip on cash management.  Reports Wednesday (Sept. 13) said Google and Intuit Australia announced news of their partnership at the Google Cloud Summit, which was held in Sydney. As part of their initiative, Gmail now supports integrated eInvoicing using Intuit tools. The Google Calendar App also ... Read More »

US Credit Climate: Small-Business Optimism Heads for Record Levels

A surge in capital spending and high sales expectations have caused a streak of historically high performances dating back to November to continue in the Index of Small Business Optimism from the National Federation of Independent Business (NFIB).  The percentage of small-business owners who plan to make capital expenditures in the near term is at its highest level since 2006. ... Read More »

Blockchain: The Quiet Revolution for Next Generation SME Businesses

Blockchain is, slowly but surely, reaching corporate consciousness. As the Harvard Business Review has put it, blockchain is a “quiet revolution.” Finance professionals must now compete on a new stage.  First used with bitcoin in 2008, it has gradually grown in use as the technological underpinning of cryptocurrency. However, whilst interest in bitcoin has waned, blockchain has found more and ... Read More »

Global SME Finance Forum 2017

Will Robots Replace Bankers as the Best Advisors for SMEs? The Global SME Finance Forum 2017 is excited to announce our debate on the role of robots and AI and the future of SME banking. This exciting session will be moderated by Silvia Pavoni, Economics Editor, The Banker magazine at Financial Times. Would you trust a robo-advisor for financial and business advice? ... Read More »

Russian Risk Climate:  SME Access To Funding Remains a Challenge 

The lack of financial inclusion for sole entrepreneurs in Russia continues to be a challenge.  Transparency is the key issue for banks to extend financing According to a report issued by the European Central Bank it is widely acknowledged that one of the weaknesses in the Russian financial sector is the lack of long-term financing. Such resources, especially in local ... Read More »