The report on “Financial Inclusion in the Digital Age” was jointly published by CreditEase, IFC – International Finance Corporation, and Stanford University Graduate School of Business. This report highlights some of the central frictions that prevent greater financial inclusion and financial well-being, and associated technological innovations that are fostering creative new approaches to mitigating these frictions for individuals and small businesses globally.
Report authors summarising:
We are witnessing the emergence of ‘for-profit, mission-driven’ financial technology (Fintech) players focused on enabling greater financial inclusion. A financial revolution is taking place around the globe, powered by mobile phones, access to new data, technological innovations and changing mindsets of users of financial services. These Fintech companies are fostering new approaches to mitigating frictions by designing novel products, or following innovative business strategies, with the common end goal of enhancing financial inclusion. They are increasing the financial capacities of households and organizations worldwide.
At the end of this report, we provide a list of 100 Fintech companies globally that are supporting ‘Financial Inclusion in the Digital Age’ across four main “verticals” of impact: payments, lending and related ecosystem, savings and financial planning, and insurance. These companies are mission-driven but are also focused on providing attractive risk-adjusted returns to their investors.