Innovations in financial services technologies help expand on the mission of responsible micro-lending. But we must be mindful of the drawbacks.
In a recent article published on Thomson Reuters Foundation, FINCA Impact Finance President & CEO Andrée Simon explains that while the fintech revolution has an important role promoting financial inclusion, financial services providers must be mindful of socially responsible practices to protect these new borrowers and savers.
“I’m not arguing that new technologies do not have an important role promoting financial inclusion. I’m saying that, as this revolution plays out, financial services providers must be mindful of socially responsible practices that will protect these new borrowers and savers.”