New FIF White Paper looks at successful efforts by FINCA DRC to create new products and delivery channels that emphasize outreach and efficiency. FINCA DRC is building even closer relationships with clients while increasingly utilizing digital channels.
Fintech and digital financial services have made banking possible for more people around the world. But while bank accounts and digital payments are more available, for many entrepreneurs in low-income countries, getting a loan is more difficult. Psychometric credit scoring can help.
Fintech innovation is changing finance around the world. That is impacting how FINCA Impact Finance (FIF) develops and trains its workforce. To stay on the industry’s cutting edge, we offer professional development opportunities at all career stages and leverage digital learning to reach more than 10,000 employees in 20 countries.
Despite increased financial access overall, the gender gap hasn’t changed much since 2014. And while fintech has potential to empower women, fintech and financial inclusion for women don’t necessarily go hand-in-hand. In a recent op-ed, Caren Robb discusses ways that financial institutions can promote gender-equitable financial inclusion and close the gender gap.
“Afghanistan is home to more than 17 million women”, pointed out Zar Wardak, FIF’s regional director for the Middle East & South Asia and chair of its Diversity & Inclusion Management Team. “Shutting women out of the financial system is both an injustice and a huge missed opportunity. The women-only branch is helping unlock that potential by providing responsible finance.”
Discussion of how fintech and financial inclusion can close the gender gap took center stage at FINCA Impact Finance’s 2019 International Women’s Day event, Can the Future Still Be Female? A Discussion on Fintech and Gender Balance. Panelists included Rosita Najmi of the Bill & Melinda Gates Foundation, Dr. Sonja Kelly of the US State Department, Bhavana Srivastava of MicroSave Consulting and Elissa McCarter Laborde of the Vitas Group.
An external financial crisis required FINCA Azerbaijan to transform its business model. Now a scaled-down, more efficient operation, it will expand financial inclusion through a combination of branches and digital banking channels.
FINCA Impact Finance’s 2019 International Women’s Day panel event will focus on financial inclusion, fintech and closing the gender gap. Speakers include Andrée Simon, Rosita Najmi, Dr. Sonja Kelly, Bhavana Srivastava and Elissa McCarter Laborde.
FINCA Armenia joins FIF subsidiaries in Ecuador, Georgia, Kosovo, Kyrgyzstan, Nicaragua and Pakistan in receiving Certification from the Smart Campaign, a global initiative promoting prudent, transparent and respectful treatment of clients. It is the first institution in Armenia to be certified.
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.