Week of October 26, 2015

1. Financial Inclusion: Germany announced a new law that will make it easier for migrants to access financial services. Under the new rules, everyone will have the right to open accounts at any bank, enabling them to deposit and withdraw cash, conduct transfers, and use payment cards. But what will the implications be for anti-money laundering and KYC regulations? Reuters

2. Payday Lending:  Is the future of payday lending more regulation of lenders or more regulation of banks? Federal Reserve of New York and The New York Times

3. Mobile Money: "Digital financial service providers often make the mistake of assuming that the solutions they offer exist in a vacuum. The reality is that any solution intended for the mass market will be co-opted or adapted to reflect the current behaviour and motivations for that behaviour."  Microsave: Part 1, Part 2, & Part 3

4. M-Pesa: Safaricom launched a new M-Pesa feature - Hakikisha, a Swahili word for "to confirm or verify." Hakikisha will require users to confirm a transfer recipient's name and details, hopefully reducing erroneous transactions. CGAP

5. Wealth Creation:  A new survey ranks Houston as the #1 city in the US for wealth creation, while San Diego comes in last place. Although economic mobility and wealth creation are not the same thing.  Research on the former ranks Houston 57 in the country for economic mobility potential and San Diego comes in at 18. Bankrate


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