Fintech and digital financial services have made banking possible for more people around the world. But while bank accounts and digital payments are more available, for many entrepreneurs in low-income countries, getting a loan is more difficult. Psychometric credit scoring can help.
News & Insights Related to Financial Inclusion
New Video Highlights How FIF is Investing in People
Fintech innovation is changing finance around the world. That is impacting how FINCA Impact Finance (FIF) develops and trains its workforce. To stay on the industry’s cutting edge, we offer professional development opportunities at all career stages and leverage digital learning to reach more than 10,000 employees in 20 countries.
Caren Robb on Fintech and Financial Inclusion for Women
Despite increased financial access overall, the gender gap hasn’t changed much since 2014. And while fintech has potential to empower women, fintech and financial inclusion for women don’t necessarily go hand-in-hand. In a recent op-ed, Caren Robb discusses ways that financial institutions can promote gender-equitable financial inclusion and close the gender gap.
Fintech and Financial Inclusion Could Help Close Gender Gap – IWD Event Recap
Discussion of how fintech and financial inclusion can close the gender gap took center stage at FINCA Impact Finance’s 2019 International Women’s Day event, Can the Future Still Be Female? A Discussion on Fintech and Gender Balance. Panelists included Rosita Najmi of the Bill & Melinda Gates Foundation, Dr. Sonja Kelly of the US State Department, Bhavana Srivastava of MicroSave Consulting and Elissa McCarter Laborde of the Vitas Group.
FINCA Azerbaijan to Meet Need for Financial Inclusion With Transformed Business Model
An external financial crisis required FINCA Azerbaijan to transform its business model. Now a scaled-down, more efficient operation, it will expand financial inclusion through a combination of branches and digital banking channels.
FINCA Armenia Receives Smart Certification for Strong Client Protection Practices
FINCA Armenia joins FIF subsidiaries in Ecuador, Georgia, Kosovo, Kyrgyzstan, Nicaragua and Pakistan in receiving Certification from the Smart Campaign, a global initiative promoting prudent, transparent and respectful treatment of clients. It is the first institution in Armenia to be certified.
Andree Simon: Why Banks Should Partner with P2P Platforms Like Uber
Simon highlights FIF’s recent initiative by which FINCA Guatemala is partnering with Uber Guatemala to offer a cutting-edge loan product to local Uber drivers. FINCA Guatemala’s loan application form is directly integrated into the Uber online dashboard. This allows drivers to apply for a loan using only their driving history, and allows FINCA Guatemala to process loan applications in just hours.
FINCA Impact Finance subsidiary in Armenia issues $2.8 million bond offering
The USD 2.8 million bond issuance will support on-lending to small businesses. It is the third successful bond issuance by FINCA Armenia since 2017.
FINCA Impact Finance Partners with Comic Relief and Jersey Overseas Aid to Transform Agent Network in Zambia
GBP 800,000 in funding will support upgrading FINCA Zambia’s agent banking network, reaching underserved population segments through financial technology innovation. The project will expand the agent network while evolving its business model to better meet the needs of customers.
FINCA Uganda Partners with SafeBoda to Provide Mobile Fintech Product
FINCA Uganda establishes a new fintech innovation partnership with SafeBoda to expand financial inclusion in Uganda. Motorcycle taxi riders will be offered access to mobile savings and credit products.
FINCA Impact Finance, MEF and BlueOrchard Announce USD 20 Million Loan Facility
FINCA Impact Finance has entered into a USD 20 million loan facility with the BlueOrchard Microfinance Fund (BOMF) and Microfinance Enhancement Facility S.A., SICAV-SIF (MEF). The facility will help FIF better manage liquidity throughout its global network of 20 microfinance banks and institutions.