Taking a Touchtech Approach to Financial Inclusion
FINCA Impact Finance (FIF) President and CEO Andrée Simon is featured in a recent article published on Forbes.com. In the article, Simon acknowledges that while digital banking products are central to today’s financial inclusion and fintech trends, she cautions that the ease of access to finance that fintech provides can also exacerbate indebtedness among borrowers in certain unbanked and under-banked communities.
To help mitigate this risk, Simon notes that FIF takes a hybrid approach to their customers by leveraging the efficiency of fintech, while also placing agents on the ground to help teach customers how to borrow and save more responsibly.
“Inclusion is not the end game. You need to give people access to services they’re going to use well.”
– FINCA Impact Finance CEO Andrée Simon
By providing customers innovative digital products in combination with a touch-tech approach to banking, FIF is able to expand access to financial services without forgoing the trust and relationships that are built through the human aspect of in-person banking.
You can read the full article here.