Third annual international fintech competitors celebrates trail-blazing options for girls’s monetary inclusion
NEW YORK, NY, October 12, 2021 — Ladies’s World Banking introduced at this time Enhance Capital and Individuals’s Pension Belief because the winners of its Third Annual Fintech Innovation Problem, a part of the group’s Making Finance Work for Ladies Thought Management Collection. Every year, the Problem supplies a world stage for fintechs to current progressive options and enterprise fashions that assist construct financial safety and prosperity for unbanked, underserved girls. This 12 months’s competitors culminated in a reside digital occasion to honor each recipients and get a deeper look into their fintech options, in addition to hear from visitor audio system to debate the position of economic know-how in the way forward for girls’s financial empowerment.
“We’re thrilled to acknowledge Enhance Capital and Individuals’s Pension Belief and their contribution in direction of girls’s monetary inclusion. Each corporations clearly exhibit the game-changing potential of fintechs to advance girls’s financial empowerment on a broader scale,” mentioned Mary Ellen Iskenderian, President and CEO of Ladies’s World Banking. “Almost two years into the pandemic, the compounding financial results of COVID-19 proceed to take a disproportionate toll on girls. Now greater than ever, it’s vital to make sure equal entry for 1 billion girls worldwide who’re nonetheless excluded from formal monetary companies. Fintechs corresponding to Enhance Capital and Individuals’s Pension Belief create worth in areas the place conventional monetary service suppliers haven’t entered, notably on the native market degree. We belief that this competitors’s platform will exhibit to different fintechs, buyers and the broader monetary sector that serving low-income girls is a singular and worthwhile alternative.”
Enhance Capital and Individuals’s Pension Belief have been chosen from a gaggle of 4 finalists, chosen from a pool of candidates representing 34 nations. They introduced their successful options to a various panel of judges and a digital viewers alongside fellow finalists hiveonline and Mosabi. Enhance Capital and Individuals’s Pension Belief have got down to allow higher financial safety and prosperity for low-income girls in rising markets, every addressing a particular challenge:
Enhance Capital allows end-to-end digital microlending know-how based mostly on progressive chat-style functions, permitting MSMEs in Cambodia to obtain each secured and unsecured loans extra conveniently and cheaply utilizing smartphones.
Individuals’s Pension Belief gives voluntary, versatile and digitally pushed retirement merchandise, notably for casual staff in Ghana, to advertise monetary inclusion by guaranteeing they’ve a greater tomorrow.
“The Fintech Innovation Problem has established itself globally as a key platform for attracting equity-minded innovators and inspiring daring options to monetary exclusion for ladies. This 12 months’s extremely gifted pool of candidates as soon as once more exceeded expectations, and so they all deserve recognition for his or her imaginative and prescient and entrepreneurial efforts,” mentioned Sara Elinson, EY Americas Technique and Transactions FinTech Chief and one of many competitors’s knowledgeable judges. “We particularly sit up for seeing how our finalists proceed to evolve their distinctive fintech options for social fairness and encourage future entrepreneurs to comply with this path in direction of monetary inclusion.”
The whole panel of knowledgeable judges, representing the worldwide improvement, enterprise, and know-how sectors, additionally included Katharine Budd, Co-Founder and CEO of NOW Cash; Dave Kim, Program Officer of Monetary Companies for the Poor on the Invoice & Melinda Gates Basis; Pat Patel, Precept Government Officer of the Financial Authority of Singapore; Otto Williams, Senior Vice President, Head of Partnerships, Innovation and Digital Options at Visa CEMEA; and Mary Ellen Iskenderian, CEO and President of Ladies’s World Banking.
Earlier, Alexa Varsavsky, CEO and Isabel Oriol, COO of ADA Impacto, have been named the recipients of Ladies’s World Banking’s Feminine Founder Award, launched this 12 months as a part of the worldwide competitors to honor a feminine founder(s) who has proven exemplary management in constructing an inclusive office whereas working in direction of girls’s monetary inclusion. Provided that solely 7% of world fintech founders are girls, this is a crucial recognition. The 2 winners have been featured in a hearth chat with Angélica Fuentes, Founding father of Muvop, to share their experiences and insights as feminine entrepreneurs in a male-dominated trade.
The digital occasion additionally featured a panel dialogue entitled “Two Sides of a Coin: How Fintech Innovation and Regulation Influence Monetary Inclusion,” moderated by Spiros Margaris, Founding father of Margaris Ventures, and with audio system Andi Taufan Garuda Putra, CEO and Founding father of Amartha; Telmen Gerelt, CEO of Ard Credit score JSC; Karen Miller, World Head, Management & Variety Packages at Ladies’s World Banking; Pratin Vallabhaneni, DC Monetary Companies Regulatory Associate at White and Case; and Jo Ann Barefoot, CEO and Co-Founding father of the Alliance for Modern Regulation. Dr. Martin Ihrig, Affiliate Dean & Medical Professor at New York College was the Grasp of Ceremonies.
Because the winners of the Fintech Innovation Problem, Enhance Capital and Individuals’s Pension Belief every obtain a personalized UX design steering session furnished by Visa Inc., an unique pitch assembly and suggestions session with the Ladies’s World Banking Asset Administration group, 4 1:1 management teaching and suggestions periods with considered one of Ladies’s World Banking’s govt coaches, and as much as $4,000 to be utilized in direction of the price of any NYU Faculty of Skilled Research persevering with schooling programs or certificates. All 4 finalists additionally obtain membership within the Ladies’s World Banking’s World Member Community, a collaborative alternative to attach with different monetary service suppliers and share finest practices in selling girls’s monetary inclusion. The winners of the Feminine Founder Award will obtain a 1:1 advertising and marketing and PR technique seek the advice of with Anthemis, a number one fintech funding platform.
The Making Finance Work for Ladies Fintech Innovation Problem is sponsored by the Invoice & Melinda Gates Basis (Main Sponsor), Ernst & Younger LLP (EY US and Advancing Sponsor), and Novi (Supporting Sponsor). Ladies’s World Banking’s core funders are Australia’s Division of Overseas Affairs and Commerce (DFAT), the Swedish Worldwide Improvement Cooperation Company (SIDA), and the Visa Basis.
About Ladies’s World Banking
Ladies’s World Banking designs and invests in monetary options, establishments, and coverage environments in rising markets to create higher financial stability and prosperity for ladies, their households, and their communities. With a world attain of 57 companions in 32 nations serving greater than 69 million girls shoppers, Ladies’s World Banking drives impression by its scalable, market-driven options; gender lens non-public fairness fund; and management and variety applications. To be taught extra about Ladies’s World Banking, go to womensworldbanking.org.
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