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Contact:
Karen Miller
[email protected]
+1.212.556.3149
Winners will take part within the Singapore FinTech Competition’s International Hackcelerator Demo Day
New York — Girls’s World Banking introduced the 4 finalists of its inaugural Making Finance Work for Girls FinTech Innovation Problem at present. The finalists, chosen from greater than 80 purposes, signify FinTech options designed to assist low-income ladies’s financial safety and prosperity. The finalists embody Aflore from Colombia; Bloom Influence from Ghana; Frontier Markets Consulting from India; and Pula Advisors from Kenya.
The Making Finance Work for Girls FinTech Innovation Problem is in partnership with the Singapore FinTech Competition and KPMG Digital Village. The 4 finalists will obtain membership within the Girls’s World Banking’s Community of Companions and can current to a panel of judges and the viewers at Girls’s World Banking’s flagship Making Finance Work for Girls Summit. The Summit will likely be held in Singapore on October 22-23, 2019 and can draw over 300 senior leaders from the monetary companies, investor, and philanthropy communities. The judges and viewers will then vote to pick out the highest two candidates who will go on to take part as finalists within the Financial Authority of Singapore’s International FinTech Hackelerator Demo Day. They can even be fast-tracked to obtain a $200,000 Proof-of-Idea grant.
“I’m thrilled with the standard of the candidates of our inaugural competitors, notably our 4 finalists,” mentioned Mary Ellen Iskenderian, President and CEO, Girls’s World Banking. “Their merchandise present nice promise to fulfill the wants of low-income ladies. With practically one billion ladies globally with no entry to formal monetary companies, FinTech firms present a terrific alternative to create new options which might be designed for and with ladies shoppers. I used to be additionally delighted to see that all the finalists had ladies executives within the C-suite.”
Concerning the Finalists
Aflore (Colombia) brings monetary merchandise to the house of the underbanked in Latin America, a market of practically 78 million folks. Aflore distributes loans and insurance coverage merchandise by way of an progressive channel: a community of Casual Advisors that leverages know-how and the belief present in private networks.
Bloom Influence (Ghana) is a digital market empowering small companies to find out about and entry credit score and financial savings merchandise by way of their cell phone. By way of their data-driven matching and scoring algorithms, Bloom Influence supplies monetary establishments with new, certified clients, considerably decreasing their buyer acquisition prices, dangers and turnaround instances. Bloom Influence goals to democratize how unbanked and underserved micro and small companies get monetary companies that greatest meet their wants.
Frontier Markets Consulting (India) is a last-mile distribution firm with a mission to create ‘Saral Jeevan’ or an ‘Straightforward Life’ for rural clients by offering them with entry to high quality excessive affect services and products in clear vitality, water, productive home equipment and finance by way of their community of digitized rural ladies entrepreneurs known as Photo voltaic Sahelis by way of an e-commerce platform. Frontier Markets has enabled a hybrid mannequin of girls service suppliers, localized distribution and supply, and know-how platform that tracks life-time worth created for rural households. So far, 2500 rural ladies entrepreneurs have bought 700,000 options to 500,000 rural households impacting 3.5 million folks. Photo voltaic Sahelis have earned over $2.5 MN in earnings, and facilitated over $1 MN in finance for rural communities.
Pula (Kenya) supplies accessible, scalable local weather insurance coverage options for smallholder farmers by bundling insurance coverage with agricultural inputs like seed and fertilizer. Pula makes use of know-how, like satellite tv for pc imaging and yield knowledge, to find out insurance coverage payouts. It additionally collects and analyzes farmer knowledge to offer recommendation on good farming practices that enhance yields and farm earnings. Its mission is to enhance agricultural productiveness by decreasing farming threat and offering agronomy recommendation to the underserved market of 1.5 billion smallholder farmers worldwide. Since 2014, it has facilitated index insurance coverage protection for over 1 million smallholder farmers throughout 11 international locations in Africa and Asia.
Functions got here from greater than 34 international locations with extra 60 % of firms based or led by ladies.
The Making Finance Work for Girls FinTech Innovation Problem is made attainable by the beneficiant assist of the Invoice & Melinda Gates Basis. For extra data on the problem and to buy tickets for the Making Finance Work for Girls Summit, please go to: https://www.womensworldbanking.org/making-finance-work-for-women/
Girls’s World Banking designs and invests within the monetary options, establishments and coverage environments in rising markets to create larger financial stability and prosperity for ladies, their households, and their communities. With a worldwide attain of 53 companions in 32 international locations serving greater than 30 million ladies shoppers, Girls’s World Banking drives affect by way of its scalable, market-driven options; gender-lens personal fairness fund; and management and variety applications.
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