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.
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.
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.
Fusion Risk will help FINCA Impact Finance ensure regulatory compliance and data management as it continues to implement digital innovations to improve efficiency and better serve its customers.
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 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.
FINCA Impact Finance opened its doors in Kosovo in 2000 to advance the mission of expanding financial inclusion to help individuals, families and communities recover from the war. This year FINCA Impact Finance won the Silver Telly Award for Rebuilding Kosovo: One Loan at a Time, a video highlighting the role of financial inclusion in the country’s recovery.
FINCA DRC announced a USD 8.5 million long-term subordinated loan facility with KfW, the German state-owned development bank. The facility will enable FINCA to advance its digital transformation and broaden its offering of innovative financial products and services.
FINCA provides business loans for women entrepreneurs along with other gender-sensitive finance services to help close the gender gap in financial access. In 2018, the company opened a women-only bank branch in Afghanistan and launched a new loan for women entrepreneurs in Kosovo.
Improved risk management is necessary to achieve responsible financial inclusion. That’s why FINCA Impact Finance joined an alliance of over 50 fintech investors and digital finance innovators in launching the Guidelines for Investing in Responsible Digital Financial Services.
2017 was a turnaround year for FINCA Impact Finance. The company returned to profitability while launching new initiatives in client protection, Fintech, mobile banking and data analytics, among others.