NEXT GENERATION DEVELOPMENT LLC’s Post

🚀 𝐓𝐚𝐢𝐥𝐨𝐫𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐟𝐨𝐫 𝐌𝐒𝐌𝐄𝐬: 𝐀 𝐊𝐞𝐲 𝐭𝐨 𝐑𝐞𝐝𝐮𝐜𝐢𝐧𝐠 𝐑𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐑𝐚𝐭𝐞 MSMEs account for 92% of Uzbekistan’s enterprises—about 524,000 companies. They also generate 74% of jobs and contribute 48% to GDP (ADB). Despite this, the MSME financing gap is about $11.8 billion, or 18% of the country’s GDP (IFC). Over the last two years, private and state-owned banks in Uzbekistan have shifted focus towards MSMEs, creating specialized departments to serve them. But the challenge remains: how do banks reduce customer retention rates while attracting new clients? Currently, many banks only offer basic products like bank accounts, digital banking, corporate/salary cards, payment terminals, and loans. The Mission for Banks: To increase MSME loyalty and retention, banks must move beyond basic services. Take Tinkoff Bank as a case study: ·      All-in-one business accounts that simplify payroll, tax, and e-commerce integration. ·      Automated accounting & tax filing, reducing admin for small businesses. ·      Access to loans & credit through AI-driven assessments, even for new businesses. ·      Factoring services, enabling businesses to improve cash flow by selling their receivables for immediate liquidity. ·      Mini-app marketplace offering partner services like legal aid, insurance, and logistics. ·      Merchant services for seamless transactions across online and physical stores. What should Uzbekistan’s banks focus on? Building a banking ecosystem that integrates advisory services, factoring, accounting, mini-app marketplaces, and more. 👀 Stay tuned—we’re partnering with a private bank to launch new MSME-focused products in Uzbekistan! If you're interested in strategies to reduce retention rates and boost customer loyalty, feel free to DM us. Let’s discuss how we can help your business thrive! #MSME #FinancialSolutions #BankingInnovation #Uzbekistan #BusinessEcosystem #NGD #NGDconsulting #NGDprojects

Vietnam Embedded Finance Business Report 2024: Revenues will Increase from $426.3 Million in 2024 to Reach $2.73 Billion by 2029 – 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments #IndustryFinance

Siraj Finance PJSC signs an agreement with Azentio for iMAL core and digital financial services solution subscription optimization: SINGAPORE, Dec. 23, 2024 /PRNewswire/ — Siraj Finance PJSC, a leading Islamic Finance Company in the UAE, has signed an agreement with Azentio, a pioneer in the core banking technology service provider. The agreement represents the collaboration for implementation of the core and digital banking solution to further enhance the operational capabilities and digitization of […] The post Siraj Finance PJSC signs an agreement with Azentio for iMAL core and digital financial services solution subscription optimization first appeared on Asia News Today. #Featured #TechnologiesAndInnovation

This post educates on the challenges of small businesses reaching the underbanked population in the Philippines and neighboring countries. According to a referenced article, credit penetration for SMEs in the Philippines is at 2.2 percent of the country's GDP as of 2023, lagging behind regional neighbors. To tap into this market lending opportunity, developing a comprehensive credit scoring platform is crucial. This platform should incorporate alternative data sources like those offered by www.ExpressPayinc.ph and other players in the alternative data market. #FinancialInclusion #SmallBusinesses #CreditScoring

🚫 𝗙𝗥𝗔 𝗛𝗮𝗹𝘁𝘀 𝗡𝗲𝘄 𝗕𝗡𝗣𝗟 𝗟𝗶𝗰𝗲𝗻𝘀𝗲𝘀: 𝗪𝗵𝗮𝘁 𝗜𝘁 𝗠𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁📉 Egypt’s Financial Regulatory Authority FRA has paused new licenses for Microfinance and traditional consumer finance for one year, impacting the booming Buy Now, Pay Later (BNPL) sector. 🔍 𝗪𝗵𝗮𝘁 𝗧𝗵𝗶𝘀 𝗠𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝗕𝗡𝗣𝗟 𝗣𝗹𝗮𝘆𝗲𝗿𝘀: - 𝗟𝗲𝘀𝘀 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝗼𝗻: Fewer new entrants could lead to a more consolidated market, favoring established companies. - 𝗦𝘁𝗿𝗶𝗰𝘁𝗲𝗿 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Existing BNPL firms now face higher capital requirements (EGP 75M), increasing operational costs. - 𝗦𝗹𝗼𝘄𝗲𝗿 𝗚𝗿𝗼𝘄𝘁𝗵: With new licenses on hold, expanding customer bases might face delays. 🌟 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀: - 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗖𝗵𝗼𝗶𝗰𝗲𝘀: Limited BNPL options could reduce flexibility for consumers, but also encourage more responsible spending. - 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆: The FRA’s move aims to prevent excessive debt and promote healthier financial habits, especially important amid rising interest rates. - 𝗜𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗖𝗼𝗻𝘁𝗿𝗼𝗹: By curbing rapid BNPL growth, the FRA helps manage consumer debt levels, supporting overall economic stability. 💡 𝗟𝗼𝗼𝗸𝗶𝗻𝗴 𝗔𝗵𝗲𝗮𝗱: This decision highlights the need for balanced growth and responsible lending. BNPL providers must adapt to new regulations while ensuring they support consumers sustainably. What are your thoughts on the FRA’s decision and its impact on the BNPL landscape? 🤔 #Finance #BNPL #Regulation #Egypt #ConsumerFinance #FinancialStability #FRA #Inflation #DebtManagement

DEMICA Technology Opens New Doors to Supply Chain Finance in Nigeri Maurice Benisty, Demica’s Chief Commercial Officer, said: “We’re thrilled our technology is helping drive forward the expansion of supply chain finance in Nigeria, in partnership with Afreximbank and Sterling Bank. Right across Africa there is huge unmet demand for this type of finance to meet fast-changing requirements for working capital and liquidity, especially in the SME sector. This payables finance solution is going to assist the growth of trade in and from Africa, and further demonstrates the value that these solutions bring to the real economy.” https://lnkd.in/gR6bdnF8 Gwen Mwaba #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

BIDV (Bank for Investment and Development of Vietnam) has been recognised as the Best Home Loan Financing in Vietnam for its Home 3.0 product, which achieved notable performance in 2023. Home 3.0’s performance includes total loan disbursement of $13.8 billion with a 30% year-on-year revenue growth, exceeding $985 million. This product offers a seamless digital experience with higher outstanding loans, large disbursement volumes, and a green ecosystem. The Excellence in Retail Finance and Technology Innovation Vietnam Awards 2024 event was held on 18 July. The programme recognises the achievements of banks, financial institutions, and technology companies spanning digital and retail banking, small business finance, wealth management, and technology implementation. Click here for the list of Excellence in Retail Finance and Technology Innovation Vietnam Awards 2024 Winners: https://bit.ly/4ealSSX Click here to see more photos:https://bit.ly/3Xv2k55 Foo Boon Ping 胡文彬, TAB Global #BestHomeLoan #BIDV #VietnamBanking #HomeLoanFinancing #DigitalBanking #GreenEcosystem #LoanDisbursement #RevenueGrowth #RetailFinance #TechInnovation #VietnamAwards #FinancialExcellence #BankingInnovation #WealthManagement #SmallBusinessFinance

BPI Direct BanKo (BanKo) is the #microfinance arm of the Bank of the Philippine Islands (BPI) (BPI). BanKo was born out of BPI’s desire to address the needs of the #underserved and #unbanked market. Many #microenterprises lack access to finance because of strict requirements and affordable rates. These enterprises typically face challenges to provide documents like sales records, tax returns, and audited financial statements. A common option for these enterprises is to borrow from family members or informal lenders who frequently offers high interest rates. By offering loans to micro-entrepreneurs, BanKo can drive #business and #employment growth and reduce reliance on informal lending, contributing to the economic uplift for communities across the Philippines. In 2016, BanKo transitioned to focusing on providing capital for self-employed micro-entrepreneurs. When BanKo redesigned its business model and strategy, it transitioned to a face-to-face approach, with a community-based presence, fast approval process, and offering payment options to be convenient and flexible. Solicitation of accounts is done by loan associates with deep community knowledge, loan approvals are done in the branch and hybrid collection strategy with options for cash pick-up, automatic debit, or over the counter. With this approach, in the year 2022, BanKo disbursed loans to more than 149,000 micro businesses. By 2023, disbursements reached 213,375 loans. BanKo continues to expand its reach in serving the self-employed micro-entrepreneurs and the underserved market nationwide with more than 348 stores by end 2023. Download the full case study here: https://lnkd.in/g2xvgvf5

In an interview, Salmon co-founder Raffy Montemayor talks about the Philippines' unique advantages and what makes it an attractive place to start a fintech company. 🌊 The Philippines is a blue ocean for consumer finance products and services. It has had the lowest GDP to lending ratio in Southeast Asia, and there is a huge untapped market for lending, with even the most conservative forecasts projecting that the country's small lending market will at least double by 2028. 🏘️ The population is expected to continue growing, fueling the demand for financial products and services. The country's growing population and economy is expected to drive the demand for financial products and services that better address the needs of the working population. 🏦 The industry is ripe for disruption. There's an opportunity to address the needs of Filipinos--especially when it comes to lending--and build products and services that address inefficiencies so more Filipinos can save and get access to credit more easily. Read more here: https://lnkd.in/grBiqZjs

Curious to see how we did in 2023? We got you covered in our annual report 👉 https://lnkd.in/d-PpXNME   2023, saw us building a solid foundation and enhancing our internal processes to better serve the future needs of SMEs. We provided tailored solutions to almost 1500 small and medium-sized businesses across Lithuania. And our loan portfolio soared to €80 million, marking a hefty 27% increase from the year before. 💪   These numbers underscore that there is a very real demand for alternative financial and banking solutions when it comes to SMEs. In fact, they are vital to facilitate the flexibility, negotiation power, and competitiveness of these ambitious entities.    SMEs deserve a financial partner who is both determined and ready to fight in their corner. And 2024 will see us doing just that! So stay tuned!🚀 #smebank #banking #financing #smes #annualreport #2023