Financial Services (105)
Finance fights poverty
Microcredit is the extension of very small loans (microloans) exclusively for women in poverty, with the goal of helping them cultivate business skills and entrepreneurship. Microcredit is a part of microfinace, which provides a wide range of financial services to the very poor.
Why it matters
Microcredit combines economically viable future growth for finance companies with a social benefit in the fight against poverty. Is this another example of how social causes can become an integral part of business practice?
The biggest financial institution in Portugal – state-owned bank Caixa Geral de Depósitos – has teamed up with Microsoft to launch a web portal accessible to blind users and people with impaired mobility. CGD are the first bank to launch a universally accesible website, and as a result, are likely to attract a new group of clients previously excluded from this type of service.
Bankia and MTV have organised a design and branding contest to find the new image of a credit card for teenagers. Creativity and the ability to capture the philosophy of the two brands will be the most valued factors when choosing the two winning designs, which will receive a prize valued at more than 10,000 euros (www.mtv.es/concursobankia)