featured

Highlights from Bitcoin in Emerging Markets Twitter Chat

Posted by on Sep 12, 2014 in Bank Innovation, Bitcoin, featured, Financial Inclusion | 0 comments

Highlights from Bitcoin in Emerging Markets Twitter Chat

On Sept. 9, I facilitated a Twitter discussion focused on the potential of Bitcoin and crypto currencies in emerging markets. Some highlights from the discussion include the following: To start we looked at the conditions in emerging markets Cash is still dominate and typical represents 80% of transactions. There are large unbanked or underbanked populations Those who can afford it the least, pay the most for banking services like remittances, bill pay. The cost is time, travel, and fees. Banks are much better at serving the elite then the mass market. Many products and services that scale well in developed markets struggle in emerging markets for a number of reasons...

Read More

Bitcoin Making an Impact in Emerging Markets

Posted by on Aug 25, 2014 in Bank Innovation, Bitcoin, featured | 1 comment

Bitcoin Making an Impact in Emerging Markets

Software — not gold, silver, or paper — just might be the future of global currency. It’s a bold statement that’s starting to resonate within government corridors around the world. As recently as a few years ago, the “fad” of Bitcoin could’ve easily been dismissed. Today, this is no longer the case. Known as a cryptocurrency, Bitcoin and other peer-to-peer virtual currencies, have achieved widespread global acceptance within emerging markets including in China, India, Brazil and Kenya. Within these countries, Bitcoins are considered by some as safer long-term investments than either stocks or the national currency. While Bitcoin...

Read More

Misconceptions of Entrepreneurship

Posted by on Aug 15, 2014 in Entrepreneurship, featured | 0 comments

Misconceptions of Entrepreneurship

A lot of people working a 9-to-5 job, answering to a boss and tackling stressful daily tasks, dream of becoming successful entrepreneurs. That’s not a surprise — the lure of entrepreneurship can be irresistible to folks who feel shackled in their employment. Who would want to work for someone else when they can call the shots, after all? However, these same people often put entrepreneurship under an idealized light, treating it like an escape route for all their financial hardships. What they don’t seem to realize is that running a business, especially at the start, takes more work and longer hours than a regular employee is expected to do. To find...

Read More

CFPB Exploring How Mobile Banking Can Offer Real-Time Money Management

Posted by on Jul 5, 2014 in Bank Innovation, featured, Mobile Money | 0 comments

CFPB Exploring How Mobile Banking Can Offer Real-Time Money Management

It seems like the world keeps moving faster and faster. And in the modern world, real-time money management is not just a possibility, but a reality for many people around the globe. Unfortunately, it’s not a reality for everyone, and there are billions of people around the world who don’t have the opportunity to take advantage of tools such as mobile banking to help them manage their finances. In the United States alone, there are roughly 35 million financial nomads who are not reaping the benefits mobile banking has to offer. Recognizing this, the Consumer Financial Protection Bureau (CFPB) has recently initiated a study to determine just how many...

Read More

Personal Challenges of Financial Nomads

Posted by on Jun 23, 2014 in featured, Personal Finance | 0 comments

Personal Challenges of Financial Nomads

Half the world lives without the benefits of financial services. Most of us don’t understand what it means to be a “financial nomad” – living without full access to traditional banking – but the costs are great. To put it in perspective, globally there are 4.5 billion adults who are eligible for access to financial services, yet only 2.1 billion have taken advantage of this and established relationships with banking institutions. Most of these people have basic savings accounts that don’t offer debit cards, checkbooks, etc. – what I like to call non-transactional banking – which means limited access to low-cost money transfers and bill payment options. Hard...

Read More

How Deep is the Financial Inclusion Problem in the US?

Posted by on May 30, 2014 in featured, Financial Tech | 0 comments

How Deep is the Financial Inclusion Problem in the US?

Many people assume that financial inclusion is a reality for everyone in the United States, and that access to financial services isn’t an issue for most people. As pointed out in the recently released movie Spent, the truth is quite different from that rosy picture. The everyday reality is that roughly 10 million American households do not have even a basic checking or savings account. If that’s not concerning enough, another 21 million households have savings accounts, but are heavily dependent on alternative and costly financial services such as payday loans and check-cashing services. Last year in the US the underbanked spent $89 Billion on bank fees and...

Read More