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Third annual international fintech competitors celebrates trail-blazing options for ladies’s monetary inclusion
NEW YORK, NY, October 12, 2021 — Girls’s World Banking introduced right this moment Increase 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 Girls Thought Management Sequence. Annually, the Problem supplies a worldwide stage for fintechs to current modern options and enterprise fashions that assist construct financial safety and prosperity for unbanked, underserved ladies. This yr’s competitors culminated in a dwell 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 function of economic expertise in the way forward for ladies’s financial empowerment.
“We’re thrilled to acknowledge Increase Capital and Individuals’s Pension Belief and their contribution in the direction of ladies’s monetary inclusion. Each corporations clearly reveal the game-changing potential of fintechs to advance ladies’s financial empowerment on a broader scale,” stated Mary Ellen Iskenderian, President and CEO of Girls’s World Banking. “Practically two years into the pandemic, the compounding financial results of COVID-19 proceed to take a disproportionate toll on ladies. Now greater than ever, it’s necessary to make sure equal entry for 1 billion ladies worldwide who’re nonetheless excluded from formal monetary providers. Fintechs reminiscent of Increase Capital and Individuals’s Pension Belief create worth in areas the place conventional monetary service suppliers haven’t entered, notably on the native market stage. We belief that this competitors’s platform will reveal to different fintechs, buyers and the broader monetary sector that serving low-income ladies is a novel and worthwhile alternative.”
Increase Capital and Individuals’s Pension Belief had been chosen from a gaggle of 4 finalists, chosen from a pool of candidates representing 34 nations. They introduced their profitable options to a various panel of judges and a digital viewers alongside fellow finalists hiveonline and Mosabi. Increase Capital and Individuals’s Pension Belief have got down to allow larger financial safety and prosperity for low-income ladies in rising markets, every addressing a particular challenge:
Increase Capital allows end-to-end digital microlending expertise based mostly on modern chat-style functions, permitting MSMEs in Cambodia to obtain each secured and unsecured loans extra conveniently and cheaply utilizing smartphones.
Individuals’s Pension Belief presents voluntary, versatile and digitally pushed retirement merchandise, notably for casual employees in Ghana, to advertise monetary inclusion by making certain 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 girls. This yr’s extremely proficient 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,” stated Sara Elinson, EY Americas Technique and Transactions FinTech Chief and one of many competitors’s professional 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 the direction of monetary inclusion.”
The whole panel of professional judges, representing the worldwide growth, enterprise, and expertise sectors, additionally included Katharine Budd, Co-Founder and CEO of NOW Cash; Dave Kim, Program Officer of Monetary Providers 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 Girls’s World Banking.
Earlier, Alexa Varsavsky, CEO and Isabel Oriol, COO of ADA Impacto, had been named the recipients of Girls’s World Banking’s Feminine Founder Award, launched this yr 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 the direction of ladies’s monetary inclusion. Provided that solely 7% of world fintech founders are ladies, this is a crucial recognition. The 2 winners had 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 business.
The digital occasion additionally featured a panel dialogue entitled “Two Sides of a Coin: How Fintech Innovation and Regulation Affect 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, International Head, Management & Range Packages at Girls’s World Banking; Pratin Vallabhaneni, DC Monetary Providers 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, Increase Capital and Individuals’s Pension Belief every obtain a custom-made UX design steering session furnished by Visa Inc., an unique pitch assembly and suggestions session with the Girls’s World Banking Asset Administration staff, 4 1:1 management teaching and suggestions periods with one among Girls’s World Banking’s govt coaches, and as much as $4,000 to be utilized in the direction of the price of any NYU Faculty of Skilled Research persevering with training programs or certificates. All 4 finalists additionally obtain membership within the Girls’s World Banking’s International Member Community, a collaborative alternative to attach with different monetary service suppliers and share greatest practices in selling ladies’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 Girls 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). Girls’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.
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About Girls’s World Banking
Girls’s World Banking designs and invests in monetary options, establishments, and coverage environments in rising markets to create larger financial stability and prosperity for girls, their households, and their communities. With a worldwide attain of 57 companions in 32 nations serving greater than 69 million ladies purchasers, Girls’s World Banking drives influence by way of its scalable, market-driven options; gender lens personal fairness fund; and management and variety applications. To study extra about Girls’s World Banking, go to womensworldbanking.org.
Contact:
Conrad Jarzebowski
Director of Communications & Advertising
cpj@womensworldbanking.org
Chelsea Bennington
Digital Advertising & Engagement Specialist
cb@womensworldbanking.org
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