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Jun
30
SME FINANCE FORUM
Member Spotlight
Jun 30, 2021
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2021-06-29 20:00:00
2021-06-29 20:00:00
Member Spotlight #6 Jumo: Using technology to meet the finance needs of West Africa’s informal sector
JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, has been named Platinum winner of the Responsible Digital Innovator of the year award, and Silver winner of the Product Innovation of the Year Award at the 2020 Global SME Finance Forum Awards. The Awards are endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI) were organised by IFC, a member of the World Bank Group and the SME Finance Forum. Launched in 2018, the Global SME Finance Awards were set up to recognize the commitments and distinguished achievements of financial institutions and fintech companies in delivering outstanding products and services to their SME clients and helping them grow.
JUMO was recognised amongst over 100 global participants. The awards were judged by a committee of industry experts, with specific focus on reach, uniqueness and innovation, effectiveness and impact, as well as dynamism and scalability. In this Member Spotlight #6, you will hear directly from our member JUMO and the reasons behind their success.
Using Technology to meet the finance needs of West Africa's informal sector
Entrepreneurs in the informal sector contribute an average of 60% to the GDP of West African countries, yet less than 15% of them have access to banks as a source of financing. Financial technology companies are working with banks and e-money operators in the region to build digital financial services as a solution.
JUMO currently operates three successful lending products in Ghana in partnership with the local mobile network operator and banks. They recently launched a new lending product for predominantly MSMEs in Ivory Coast and have plans to launch similar services in Nigeria and Cameroon soon. West Africa represents a huge growth opportunity for mobile financial services ecosystems and according to the GSMA, West Africa is the 2nd largest region with mobile money accounts. In this webinar, we will hear from award-winning member JUMO about the opportunities and challenges for scaling in West Africa.
You will learn
• Challenges and opportunities for MSME lending in West Africa
• How partnerships can power financial solutions
• How to design your product to ensure high levels of eligibility
• Working with stakeholders to grow your mission
• The secret to replicating success in new markets
• How to get capital to where it’s needed most
• About the mobile money landscape in Africa - future trends
• The impact of regulation
Moderator and Speakers
Gillian Darko is currently the General Manager (In-Markets Operations) at JUMO. She has over 10yrs experience working as a VP within the Strategy and Transformation department at JPMorgan and PwC. Gillian is passionate about solving the complex problem of financial inclusion.
Ahmed Abbas is the Strategic Partnerships Lead, Capital & Banking at JUMO. Ahmed has played various business and strategic roles across a variety of Pan-African financial institutions including insurers and asset managers. He has also advised several top financial organisations on digital transformations and business model innovations at top consultancies including Accenture.
Arnold Kavaarpuo is the Country Manager for JUMO, Ghana. Arnold is a thought leader and has been consulted by government, private sector and development agencies in the areas of Financial Inclusion, Financial Technology, Digital Finance and Business Model Optimisation. He has served on various boards and committees over the last 16 years.
Bemah Kone is the Country Manager for JUMO, Ivory Coast. A graduate from the Yale School of Management, Bêmah has worked in investment banking, corporate banking and oil & gas. Bêmah is currently working as Country Manager for JUMO in Côte d'Ivoire, where the company successfully launched VitKash, an innovative digital lending product.
Segun Adeyemi is the Country Manager for JUMO, Nigeria. Segun is an experienced entrepreneur and fintech executive. He is the Country Manager // Nigeria for JUMO World. Prior to JUMO, Segun founded and was the CEO of Amplified Payments - the company is now a part of Carbon, a digital bank operating in Nigeria.
To register for the session, click below:
Watch the recording here>
For more information, please contact us at smefinanceforum@ifc.org
By registering to this event, you agree to the SME Finance Forum/IFC Event Privacy Notice.
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SME FINANCE FORUM
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Jun
30
SME FINANCE FORUM
Event
Jun 30, 2021
Add to Calendar
2021-06-29 20:00:00
2021-06-29 20:00:00
Presentation of the Key Findings of the CCAF's 2nd Global Alternative Finance Market Benchmarking Study
Cambridge Centre for Alternative Finance will hold a webinar presenting the key findings from the 2nd Global Alternative Finance Market Benchmarking Study, supported by Invesco and with foundational funding from the Foreign and Commonwealth Development Office and the Inter-American Development Bank, covering the Digital Lending and Capital Raising FinTech sector activity for 2019 and 2020.
This study gathered primary data from firms in over 175 countries and accounts for 1,801 firm-level observations in 2019 and 1,660 in 2020. By collecting firm-level data for both years, this research aims to review the impact of significant changes in the industry since the publication of the 1st Global Alternative Finance Benchmarking Study, provide novel insights into the state of the industry and the challenges faced both prior to and during the COVID-19 pandemic.
In particular, this study examines if COVID-19 had impacted lending and capital raising transaction volumes and growth in ways which deviated from historical trends. And where such deviations exist, if these changes have been felt uniformly across the globe or if there has been market bifurcation at a regional or business model level.
Following the presentation of findings, a panel discussion will bring together guest speakers from platforms, industry associations and other relevant stakeholders to discuss the significance of the research.
SME FINANCE FORUM
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Jun
22
SME FINANCE FORUM
Event
Jun 22, 2021
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2021-06-21 20:00:00
2021-06-21 20:00:00
The Insights and Solutions Driving Asian Fintech Forward
Fintech innovation doesn’t wait, and you shouldn’t have to wait either. FinovateAsia will be virtual this year and will allow you to move your business forward and stay up to date despite the unpredictability of travel plans.
500+ senior decision-makers. 50%+ from financial institutions. Expert speakers and insightful demos of new tech. All delivered digitally.
See how the startup ecosystem is responding to the current climate of the industry. Learn about new innovations that are supporting customers today. Find the technologies and connections to keep you relevant tomorrow and connect with people who can help you take your business to the next level.
The agenda will feature expert-led sessions that will be live-streamed across 2-days. Plus, everything will be available to attendees on-demand after the event.
Digitally meet a global audience of key fintech influencers and discuss trends impacting the industry through an immersive online platform. Create a personalized profile, send messages, arrange virtual meetings, and interact with speakers and fellow attendees in live chat Q&A and polls.
Every aspect of the program has been evaluated to ensure your digital experience will deliver maximum value.
Members of the SME Finance Forum can receive a 20% discounted rate for this event. Please contact us at smefinanceforum@ifc.org to get your discount code.
Learn more and register here>
SME FINANCE FORUM
ronyg@panapps.co
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Jun
02
SME FINANCE FORUM
Virtual Roundtables
Jun 02, 2021
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2021-06-01 20:00:00
2021-06-01 20:00:00
Virtual Roundtable Series #29 - The Role of Alternative Data in Ensuring Access to Finance for SMEs post-COVID
The pandemic increased the degree of information asymmetry between lenders and borrowers. Traditional data sources and risk models may not be fully updated and well-calibrated to provide an accurate assessment of SMEs’ capacity to repay in the post-pandemic reality. While some businesses may appear solvent due to government support (e.g., subsidized loans, repayment holidays), their condition may weaken when this support expires. Other SMEs may struggle to qualify for a loan due to an absence of collateral or short credit history even if their business model is sound. The rapid emergence of alternative data may help financiers make better decisions in evaluating credit in this uncertain time.
On Wednesday, June 2nd, 2021, at 8 a.m. EDT, we will hear from leading industry experts and practitioners about how alternative data can expand access to finance for SMEs.
What you will learn
What is ‘alternative data’? How is it being collected? From what sources?
How do lenders use the alternative data? What is the value-added of using alternative data in addition to traditional data?
What is the correlation coefficient between traditional credit scores and predictions derived from alternative data?
Do the benefits of the use of alternative data outweigh the cost of its collection and analysis?
What are the best practices in the governance of alternative data and ensuring fair and transparent risk management using alternative data?
Will alternative data supplant traditional data or provide a symbiotic addition?
How will alternative data reshape the ecosystem of the business information industry?
Host
Hourn Thy, Head of Operations, SME Finance Forum
Moderator
Khrystyna Kushnir is the Knowledge Management Lead at the SME Finance Forum. She has over eleven years of work experience in private enterprise and financial sector development. Before joining the Forum, Khrystyna worked as an operations analyst at the Development Economics of the World Bank Group. Prior to working for the World Bank Group, she was a Research Assistant for Central and Eastern Europe at the Heritage Foundation. Ms. Kushnir also worked, as a Research Analyst, for the Japanese consultancy Washington CORE on Russian and Asian markets. Ms. Kushnir holds MA in International Economic Relations from the American University and is a Fulbright scholar.
Speakers
Neil Munroe is the Deputy Managing Director, BIIA, and Deputy Chair, International Committee on Credit Reporting (ICCR). Neil has 35 years’ experience in the financial services and credit reporting industries. He is currently Deputy Managing Director of the Business Information Industry Association (BIIA), which is registered in Hong Kong and whose membership consists of more than 70 information companies. Neil is also a founding member of the International Committee on Credit Reporting (ICCR) that is hosted by the World Bank and was personally involved in the creation of the World Bank Principles of Credit Reporting, the recognised standards for the industry. He was elected Deputy Chair in November 2019.
Tony Hadley is the Senior Vice President of Public Policy for Experian. Tony leads the US domestic and global regulatory and public policy functions for the Experian group of companies. His team manages legislative and regulatory initiatives relating to data-driven marketing, data analytics, credit reporting and risk management, financial markets, health IT, and e-commerce. Tony oversees similar activities in the Americas, EMEA, and Asia Pacific. Tony communicates and aligns Experian’s position on legislative, regulatory, and policy issues with its clients and stakeholders, including multi-lateral groups, international organizations and policymakers, the US Congress, regulatory agencies, and consumer and professional groups. He represents the corporation’s interests before trade alliances including the Association of National Advertisers, Consumer Data Industry Association, the U.S. Chamber of Commerce, the American Financial Services Association, and Consumer Bankers Association. He aligns policy with several international organizations, including the Trans-Atlantic Business Council; the US-Brazil Business Council; the US-India Business Council, and the US-ASEAN Business Alliance.
Adam Klappholz heads P2P at Venmo. Previously, he led the Global Credit Strategy team at PayPal. Prior to joining PayPal’s Credit team, Adam spent two years on PayPal’s corporate strategy team. Before PayPal, Adam worked on the International Rescue Committee’s strategy team and spent three years at American Express in the Strategic Planning Group, and then Enterprise Growth Group. Adam frequently consults with startups and has a passion for fintech in emerging markets. Adam graduated with an MBA from Columbia Business School, and a BA in Political Science from UC Berkeley.
Rajeev Chalisgaonkar is the Global Head of Business Banking at Standard Chartered Bank. Rajeev has more than 23 years of experience in Corporate, Commercial and Retail Banking across diverse geographies including Europe, the Middle East, Africa, and India. Rajeev heads Business Banking for Standard Chartered Bank globally since April 2014. In his previous assignment, Rajeev was Head of Corporate Banking with Barclays Bank India and before that led the SME and Business Banking for Barclays Emerging Markets across 14 countries in Asia, Middle East and Africa. Prior to joining Barclays, Rajeev worked for Citibank and Export-Import Bank of India holding leadership positions in Central Europe and India. Rajeev completed his MBA at IIM Calcutta. His academic achievements also include a Bachelor of Engineering (Metallurgical Engineering) from Malaviya National Institute of Technology, India.
About COVID-19 Roundtable Series
In times of crisis, accurate and timely information is key. Sharing knowledge and practical experience are proven forms of investment that pave the path to success. With the purpose of helping our members build their own knowledge advantage, the SME Finance Forum facilitates activities and learning opportunities with the strategic approach of collecting and disseminating the best practices, while connecting SME finance experts and practitioners within our global network. Starting in late March, the Forum hosts weekly virtual roundtable sessions focusing on mitigation efforts used to cope with COVID-19, sharing those experiences in a continuous and real-time basis. Learn more>
A summary is posted here>
For more information, please contact us at smefinanceforum@ifc.org
By registering to this event, you agree to the SME Finance Forum/IFC Event Privacy Notice.
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SME FINANCE FORUM
ronyg@panapps.co
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May
26
SME FINANCE FORUM
Virtual Roundtables
May 26, 2021
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2021-05-25 20:00:00
2021-05-25 20:00:00
Virtual Roundtable Series #28 - Handling Insolvency during Crisis: What Will SMEs Need?
The COVID-19 pandemic was expected to lead to a ‘tsunami’ of insolvency cases. Instead, unprecedented regulatory forbearance and fiscal support have, for the most part, prevented this wave. As these support measures recede, are we likely to see a huge surge in cases, and are countries prepared, in particular, to handle the wave of SME cases? In this session, we will explore the unique needs of SMEs in corporate distress and what countries can learn from steps already taken in some economies to prepare for this challenge.
On Wednesday, May 26th, 2021, at 8 a.m. EDT, we will hear from senior executives and leading experts from the World Bank Group, who will discuss best practices in handling insolvencies of SMEs during the crisis.
What you will learn about
How likely is that we will see a wave of SMEs failing?
What specifically do SMEs need in the way of legal and regulatory tools to restructure or exit the market?
What guidance can IFIs like the World Bank Group provide?
What have advanced economies done to prepare for this potential wave of cases?
Host
Matthew Gamser, CEO, SME Finance Forum
Moderator
Mahesh Uttamchandani is the Global Manager for Financial Inclusion & Infrastructure in the Finance, Competitiveness, and Innovation Global Practice at the World Bank Group. In this role, he manages the World Bank Group’s global work on Payment & Market Infrastructures, Responsible Financial Access Insolvency, and Credit Infrastructure. Mahesh is the Chair of the International Committee on Credit Reporting and oversees the World Bank’s Insolvency & Creditor Rights Task Force. Mahesh joined the World Bank’s Legal Vice Presidency in 2006, and has since held various positions at both the World Bank and IFC. Prior to joining the WBG, Mahesh worked at the EBRD and as a commercial litigator at a leading Canadian law firm. Mahesh is a member of the Executive Committee of CGAP, a board member of the legal journal, International Corporate Rescue, and a board member of INSOL International. He has published and taught at the university level and lectured extensively in North America, Europe, and Asia.
Speaker
Andres F. Martinez is a Senior Financial Sector Specialist with the World Bank Group’s Finance, Competitiveness and Innovation Global Practice. Andres has been a lawyer for over 20 years, has a magister in corporate law, and specializes in the area of insolvency and creditors’ rights. He joined the World Bank Group in 2008 to lead the Insolvency indicator of the Doing Business project. Since 2011 Andres has been advising several countries on debt-resolution reform, including on insolvency systems and debt recovery in Eastern Europe and Central Asia, Latin America and the Middle East, leading the dialogue with several governments on technical issues related to debt resolution and insolvency. He has also participated in several FSAPs covering the area of Insolvency and Creditors’ Rights. Andres is an INSOL Fellow and currently chairs the INSOL/WB Legislative and Regulatory Colloquium and co-chairs the WB Insolvency Task Force. Before joining the World Bank Group, Andres worked as senior associate at the restructuring and litigation department of a top Argentine law firm in Buenos Aires for over 6 years, where he advised clients like Citibank, Visa, Unilever and other large domestic and international corporations in secured transactions, debt enforcement, restructurings and liquidations.
Marcelo Martins is the Founding Partner responsible for developing international partnerships and co-investments at Jive. Before joining Jive, Marcelo worked for 12 years in Private Equity and Investment Bank, focusing on the origination, execution and monitoring of transactions in the United States, Asia, Europe and in Brazil - having worked for Axiom Capital Management, GP Investimentos and Goldman Sachs. He also co-founded Spring Wireless, a technology company that had as investors Intel Capital, Goldman Sachs and UBS. Marcelo has an MBA from Harvard Business School and an electrical engineering degree from UNICAMP (Brazil).
Hugo Sánchez Ramírez is the Superintendent of Restructuring and Insolvency of Chile. He is an Industrial Civil Engineer and he holds an MBA from the University of Chile and MBA from the Higher School of Business Administration (ESADE), Barcelona, Spain. He has Diplomas and extensive experience in the fields of Data Mining, operational risks at the financial sector, management strategies and control, corporate Compliance, statistics and leadership. He has served as senior public manager in the position of Superintendent of Insolvency from November 2016, being renewed for a second period. He also served as Senior Public Manager in the position of Director of the Financial Intelligence Division at the Financial Analysis Unit (UAF). Previously, he founded and leaded the Risk and Intelligence Unit; the Industry, Transportation, Construction, Commerce and Primary sector Auditing Unit and the Financial sector auditing Unit, at the Internal Revenue Service (SII). In the academic field, he is professor of Information Technology Project Management in the master's degree in management and public policy, and profesor, thesis guide and President of Degree Commissions in the undergraduate thesis courses, both at the Department of Industries, University of Chile. He is also a professor of Intelligence and Data Mining in the Forensic Auditing Diploma, School of Auditing Accountants.
Marta Sánchez Saché is a Senior Investment Officer with IFC’s Distressed Asset Recovery Program (DARP), currently based in Washington, DC. She leads IFC’s investments in distressed assets and special situations in Eastern Europe and Central Asia and in India. Prior to her position in DARP, she was based in São Paulo, Brazil, where she also managed IFC’s debt and equity investments in financial institutions. Before joining IFC, Marta worked in the World Bank Treasury and the Capital Markets Department of the IMF. Marta holds a master’s degree in Economics from the London School of Economics and is a CFA charterholder.
About COVID-19 Roundtable Series
In times of crisis, accurate and timely information is key. Sharing knowledge and practical experience are proven forms of investment that pave the path to success. With the purpose of helping our members build their own knowledge advantage, the SME Finance Forum facilitates activities and learning opportunities with the strategic approach of collecting and disseminating the best practices, while connecting SME finance experts and practitioners within our global network. Starting in late March, the Forum hosts weekly virtual roundtable sessions focusing on mitigation efforts used to cope with COVID-19, sharing those experiences in a continuous and real-time basis. Learn more>
For more information, please contact us at smefinanceforum@ifc.org
The SME Finance Forum may collect, manage and share your information in accordance with Forum’s Privacy Policy (https://www.smefinanceforum.org/privacy). By confirming your registration to this webinar, you agree to allow the organizers to contact you as and when required for the administration of the webinar, for example, to let you know we have gone live with an event or to notify you about a service change. We will comply with our Privacy Policy with respect to your preferences and you will have the option to unsubscribe, this option can be found at the bottom of our emails. If you consented upon registration, some of your details may be provided to sponsors. If you are unsure about this, or if you wish to withdraw this consent after registration, please email to smefinanceforum@ifc.org prior to the webinar. For more information, see our privacy policy.
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SME FINANCE FORUM
ronyg@panapps.co
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May
25
SME FINANCE FORUM
Communities of Practice
May 25, 2021
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2021-05-24 20:00:00
2021-05-24 20:00:00
Women’s Entrepreneurship Finance Community of Practice (CoP) - Successful Models: Addressing Barriers in Financing Women SMEs
Background
The objective of the new Women Entrepreneurs Financing Community of Practice (CoP) is to effectively share knowledge and best practices, tools and innovative products to facilitate increased services to W-SMEs. To discuss and agree on how best to build a sustainable community of practice, we organized the first meeting on December 16th, 2020. Its purpose was to discuss and agree on priority areas of focus and how to best structure the CoP to serve memberson how best to build a sustainable community to effectively share lessons learned on how to increase financial services to W-SMEs. About 40 members and IFC staff from diverse regions and institutions attended the meeting.
Next Meeting: Successful Models: Addressing Barriers in Financing Women SMEs
The barriers impeding access to financial services for Women-SMEs are multidimensional and require a mix of financial, technical and policy solutions. Globally, many financial service providers have adopted business models to overcome barriers and successfully tap into the $1.5 trillion market for financing Women-SMEs (W-SMEs). During our next CoP meeting, volunteers will share experiences in adopting various approaches to address barriers, unlock market opportunities and provide financial solutions to W-SMEs.
On May 25 from 8 a.m. to 9.30 a.m. EST, the meeting will also include an open discussion for participants to voluntarily share unique experiences and discuss solutions.
Objectives:
• Share models and showcase approaches to addressing institutional and structural barriers in financing W-SMEs
• Deep dive into holistic approaches and lessons from diverse financial institutions and partners to unlock market opportunities
• Share perspectives along unique stages of the product cycle; Research/ Market Studies – Product Development – Delivery.
• Share perspectives on working in imperfect markets/ addressing regulatory barriers
• Facilitate participants contribution in sharing unique experience and solutions
Possible Areas for deep dive:
• Unleashing Market Opportunities and Business Case
• Strategy development and implementation
• Product design and delivery
• Leveraging Partnerships and Collaboration
• Addressing legal and regulatory barriers
Session Flow
Total Duration = 90 mins
• Introductions (presenters, champions) and overview by moderator: 5 mins
• Speaker Presentations: 15 mins
• Q&A: 10 mins
• Open Discussion with Participants: 50 mins
• Next CoP topic: 5 mins
• Conclusion, Wrap-up, Next steps by moderator: 5 minutes
Registration is open for members on Member's portal.
If interested in participating, please contact Minerva Kotei for more information.
Online
SME FINANCE FORUM
ronyg@panapps.co
America/New_York
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