Low-income people face economic turmoil in the wake of the pandemic.

Only half of people worldwide have any savings.

Extreme weather affects the poorest households most.

Low-income farmers need new tools to feed their communities.

The world’s entrepreneurs face a $5 trillion financing gap.

We focus on global challenges

How we work

Devraj Hom Roy

Markers and strategies for healthy early-stage vertical B2B marketplaces

Brief

What makes a successful B2B marketplace

Debdoot Banerjee

A guide to help financial service providers understand the challenges involved in managing customer relationships through digital channels and address common gaps

Toolkits and Guides

Traditionally, financial service providers that focus on serving micro and small business owners have relied on physical touchpoints and customer-facing employees to build and maintain personalized customer relationships. They depend on leveraging these relationships to ensure customers understand products and repay loans on time.

As institutions increasingly turn to digital channels to interact with customers, these personalized experiences must somehow be replicated digitally. In many cases, this requires multiple digital touchpoints across a single customer journey and building customized experiences based on individual customer needs.

Accion developed <a href="https://content.accion.org/wp-content/uploads/2023/08/Accion-Toolkit_Building-Strong-Customer-Relationships_EN_FINAL_082923.pdf" target="_blank" rel="noopener noreferrer">this toolkit</a> to help guide institutions through this process. We focus on five key recommendations:
<ol>
 	<li>Map out formal and informal interactions for strong customer relationships</li>
 	<li>Segment customers by digital maturity</li>
 	<li>Build digital interactions that avoid common pitfalls</li>
 	<li>Be clear on the infrastructure required to support digital relationship management</li>
 	<li>Monitor and measure success</li>
</ol>
To learn more about how to effectively manage customer relationships in a digital environment, download our toolkit in <a href="https://content.accion.org/wp-content/uploads/2023/08/Accion-Toolkit_Building-Strong-Customer-Relationships_EN_FINAL_082923.pdf" target="_blank" rel="noopener noreferrer">English</a> and <a href="https://content.accion.org/wp-content/uploads/2023/08/Accion-Toolkit_Building-Strong-Customer-Relationships_ES_FINAL_082923.pdf" target="_blank" rel="noopener noreferrer">Spanish</a>.

Building strong customer relationships in a digital environment

Michael Schlein

Article

At Accion, we know financial services are powerful tools to help reduce poverty and create opportunity. We work to create a fair and inclusive economy where underserved people have quality financial choices and opportunities. And in our recently published <a href="https://www.accion.org/2022-impact-report" target="_blank" rel="noopener noreferrer">Impact Report</a>, we dive into how we translate our vision into action — and impact.

We support innovative companies. We create responsible digital financial solutions. And we conduct rigorous research toward building a fair and inclusive economy for underserved people globally. Since our founding in 1961, we have helped build 235 financial institutions across 75 countries, and our work reached 106 million people <a href="https://www.accion.org/2022-annual-report/" target="_blank" rel="noopener noreferrer">last year, </a>helping them secure a brighter future.

That’s only a snapshot of our impact. To understand exactly how our work is making a difference in people’s lives — and how to maximize our impact — we systematically gather feedback from our partners and their clients so we can quickly learn what is and isn’t working, and share and promote best practices across our global networks.

By doing so, we’re able to learn and respond quickly to insights as they arise, which is key to equipping the people we serve — who are largely small business owners, smallholder farmers, and women — with financial tools that answer their unique needs and enable them to make better financial decisions. We also advocate for progress across the field of inclusive finance to elevate responsible impact measurement and customer-oriented solutions everywhere.
<h3>To understand impact, listen to clients</h3>
For a clearer picture of our impact, we need to listen to clients. This means looking beyond their ability to access new financial solutions and learning more about how they are using new tools to improve their lives. For example, are they saving money for the future? Are they able to respond to unexpected emergencies? Are they investing in and growing their businesses?

We integrated these questions into our first four-year partnership with Mastercard, which drove the digital transformation of small businesses and their financial service providers around the world. <a href="https://www.accion.org/the-impact-of-digital-transformation-on-underserved-microbusinesses-findings-from-accions-partnership-with-mastercard" target="_blank" rel="noopener noreferrer">Our impact research</a> showed 5.6 million microentrepreneurs started using new digital financial products on a regular basis. Critically, rates of 30-day usage increased by roughly four times the initial rate, showing how clients are making good use of new digital financial tools. Three-quarters of digital product users are women, and nearly 80 percent of users reported improved financial health thanks to digital solutions. This means being able to pay bills on time, having access to funds when they need them, and strengthening their finances against economic shocks.

To further center client voices, we became a founding partner of <a href="https://60decibels.com/insights/microfinance-index/" target="_blank" rel="noopener noreferrer">a new index</a>, released last year, which shows the impact of inclusive financial services on customers around the world. Created by the firm 60 Decibels, the index includes data from more than 18,000 customers from 72 microfinance institutions globally, many of them Accion partners.
<h3>Promoting transparency and standards across the industry</h3>
According to <a href="https://thegiin.org/assets/documents/pub/2023-GIINsight/2023%20GIINsight%20%E2%80%93%20Impact%20Measurement%20and%20Management%20Practice.pdf" target="_blank" rel="noopener noreferrer">a recent report</a> by the Global Impact Investing Network, 94 percent of surveyed impact investors assess their impact at least once per year, and 76 percent are aligning their impact priorities with the UN’s Sustainable Development Goals. But only 15 percent of impact investors can compare their impact results to peers, and 76 percent consider this a major challenge.

In short, we need better, more transparent, more universal standards. And as more companies orient toward impact, they must back up their claims with evidence and align their impact reporting with common practices and metrics.

To promote progress across the field, Accion recently signed up to the <a href="https://www.impactprinciples.org/" target="_blank" rel="noopener noreferrer">Operating Principles for Impact Management</a>, joining a global community of impact investors who commit to bringing greater transparency, credibility, and discipline to the impact investing market.

We are also harmonizing our impact measurement practices and priorities with those of our partners. This helps ensure that our diverse network of partners around the world are doing their best to periodically evaluate the quality and effectiveness of their solutions for their clients and their communities.

You can read more about Accion’s impact framework, our legacy of impact, and our ongoing commitment to creating locally led, systemic change in our just-released <a href="https://www.accion.org/2022-impact-report" target="_blank" rel="noopener noreferrer">2022 Impact Report</a>.

Strengthening our impact requires rigorous measurement

Liza Curcio-Rudy

Why we invested in Channel19, a user-friendly digital platform for independent, refrigerated trucking businesses in the United States

The United States relies on hundreds of thousands of refrigerated truck operators to ensure that vital goods, like vaccines and fresh produce, are delivered safely to consumers. <a href="https://www.trucking.org/economics-and-industry-data#:~:text=Number%20of%20Companies%3A,operate%2010%20or%20fewer%20trucks." target="_blank" rel="noopener noreferrer">Nearly 96 percent</a> of the trucking companies that power our supply chain manage a fleet with fewer than ten trucks, according to the American Trucking Association. While these small businesses are essential to the freight industry, they lack access to digital tools and financial services that can help them run more efficiently and grow.

This week, <a href="https://www.accion.org/channel19-picks-up-2-7-million-to-streamline-refrigerated-freight-trucking" target="_blank" rel="noopener noreferrer">we announced our investment in Channel19</a>, the first digital platform for refrigerated trucking companies, and our first investment in the US logistics industry. <a href="https://www.channel19.io/" target="_blank" rel="noopener noreferrer">Channel19</a> aims to help small truckers to strengthen their businesses by overcoming operational challenges and increasing their revenue. We’re thrilled to partner with Tony Singh, Duane Moore, and the rest of the Channel19 team as they create opportunities for small business owners to increase revenue, streamline operations, and access the financial services they need to grow their businesses.

We’re excited to invest in Channel19 as the platform:
<h3>Addresses pain points for small, refrigerated trucking businesses</h3>
The US trucking industry is highly fragmented, with nearly 96 percent of operators managing fewer than ten trucks. While larger trucking companies typically employ someone to search for, bid on, and book routes for their drivers, small companies often have an owner-operator who is trying to multitask. Channel19 streamlines the dispatch process by aggregating refrigerated freight opportunities found across hundreds of load boards, recommending the best routes for customers, and enabling them to book work digitally.

For refrigerated truckers, proper temperature management is equally vital. Channel19 is designed to help refrigerated truckers seamlessly manage their refrigeration unit and protect their cargo, which is usually their most expensive asset. By saving operators time that was previously spent on manual tasks, Channel19 allows them to instead focus on growing their businesses.
<h3>Provides MSMEs with access to well-designed, affordable financial services</h3>
Trucking is a capital-intensive industry. Coupled with high gas prices and a harsh freight recession, managing cash flow can be extremely difficult for these small businesses. Shippers typically offer 30-day payment terms, which is too long to wait for small trucking companies operating on thin margins. This has made it commonplace for truckers to use factoring companies, which typically charge two to five percent of the invoice value but layer on hidden fees and lock truckers into predatory long-term contracts. These contracts result in some customers paying up to ten percent of the invoice value to access the cash they need to operate. Channel19 accelerates cash flow for these companies through their simple, easy-to-use factoring product, which leverages transaction data on the platform to validate invoices and reduce the cost of accessing capital.
<h3>Reaches a new generation of truckers</h3>
<a href="https://www.census.gov/library/stories/2019/06/america-keeps-on-trucking.html" target="_blank" rel="noopener noreferrer">The median age for a truck driver</a> in the United States is 47 years old, which is five years older than the average American worker. As this population heads toward retirement and the shortage of drivers continues to grow, these roles are increasingly filled by Central American, Indian, and Eastern European immigrants. In Texas, the epicenter of US trucking, the number of immigrant drivers <a href="https://www.houstonchronicle.com/news/houston-texas/immigration/article/trucking-labor-shift-immigrants-houston-17774264.php" target="_blank" rel="noopener noreferrer">has nearly tripled since 2000.</a> According to a Houston-based resettlement agency, many of these newcomers get their footing in the industry by working for a friend or family member’s trucking business before starting their own. Channel19 is dedicated to reaching these immigrant entrepreneurs and providing them with a pathway to earn more money, save time, and accelerate cash flow.
<h3>Brings a team with deep industry experience</h3>
<a href="https://www.linkedin.com/in/tony-singh-3359b21" target="_blank" rel="noopener noreferrer">Tony Singh</a>, CEO and co-founder of Channel19, has been in and around the trucking industry his entire life. While growing up in Northern India, he was exposed to the inner workings of his family’s trucking business. After immigrating to the US, his family remained in the trucking industry, gaining experience in fleet operations, repairs, and other aspects of the sector. Tony’s first-hand exposure to the challenges that these small businesses face led him to build Channel19 alongside his co-founder, <a href="https://www.linkedin.com/in/duane1024" target="_blank" rel="noopener noreferrer">Duane Moore</a>. Duane, CTO of Channel19, was one of the first engineers at Clover and brings more than 20 years of computer engineering experience to the team.

Digital tools have the potential to transform and strengthen small businesses in the refrigerated freight sector. We’re proud to support Channel19’s journey to build a user-friendly platform that allows truck owners to make informed decisions about their business, alleviates operational pain points, increases their profitability, and provides embedded financial services.

Leading a digital evolution for refrigerated trucking businesses in the United States

Podcast

Rapid digitalization, climate change, economic instability, AI and automation, and other trends have shifted how people around the world live and work. For low-income and underserved people, these shifts have created new work opportunities, like gig work, and new risks and challenges, like the need to learn new digital skills. In this season of Accion Venture Lab’s Fintech for the People podcast, we’re exploring the role of fintech in the changing future of work. In the first episode of the season, host <a href="https://www.accion.org/bio/rahil-rangwala" target="_blank" rel="noopener noreferrer">Rahil Rangwala</a> interviews <a href="https://www.cgap.org/about/people/sophie-sirtaine" target="_blank" rel="noopener noreferrer">Sophie Sirtaine</a>, CEO of CGAP, a global partnership of leading development organizations working to advance the lives of people living in poverty — especially women — through financial inclusion.

They discuss the intersection of fintech and the future of work, particularly for blue and gray collar workers, like gig workers. Sophie shares CGAP's mission to make financial services accessible to the world's most vulnerable communities. The episode explores the importance of building responsible and inclusive financial ecosystems for a green, resilient, and equitable future. Tune in to learn more about the importance of inclusive financial solutions as global shifts change the nature of work, especially for low-income and underserved populations.

To learn more about Accion Venture Lab, visit our <a href="https://www.accion.org/how-we-work/invest/accion-venture-lab" target="_blank" rel="noopener noreferrer">website</a>.

<img class="size-large wp-image-28793 aligncenter" src="https://content.accion.org/wp-content/uploads/2023/09/Accion-CGAP-Quotecard-1024x576.png" alt="podcast quotecard with a headshot" width="1024" height="576" />

Navigating the Intersection of Fintech and the future of work

<img class="wp-image-28789 size-large aligncenter" src="https://content.accion.org/wp-content/uploads/2023/09/fintech-for-the-people-rahil-1024x576.png" alt="Fintech for the People season 6" width="1024" height="576" />

This season, we'll dive into one of the hottest topics investors and entrepreneurs are discussing: The intersection of the future of work and fintech. Global shifts and trends — like rapid digitalization, climate change, migration, and generative AI — are changing the way that people around the world live and work.

Host <a href="https://www.accion.org/bio/rahil-rangwala" target="_blank" rel="noopener noreferrer">Rahil Rangwala</a>, Managing Partner of Accion Venture Lab, will speak with five industry experts, ranging from entrepreneurs to investors to stakeholders in the ecosystem, who are playing a critical role in shaping this transition. We are excited to navigate this complex topic of the future of work with you this season and aim to share what future work means and how it is affecting the lives of a vast emerging workforce that is often overlooked.

Learn more about <a href="https://www.accion.org/how-we-work/invest/accion-venture-lab" target="_blank" rel="noopener noreferrer">Accion Venture Lab here</a> and follow us on <a href="https://twitter.com/accionvlab" target="_blank" rel="noopener noreferrer">Twitter</a> and <a href="https://www.linkedin.com/showcase/accion-venture-lab/" target="_blank" rel="noopener noreferrer">LinkedIn</a>. Listen to the <a href="https://link.chtbl.com/3S4T3Gut">intro episode here</a>.

Navigating the future of work: Intro to season 6 of Fintech for the People

Announcement

WASHINGTON, D.C., September 12, 2023 — Global nonprofit Accion announced today that Anurag Saxena has joined as VP, Asia, Global Advisory Solutions. Based in Mumbai, Anurag will lead advisory projects across Asia and expand its reach with innovative new partnerships.

“With his wealth of expertise in business growth, public policy, and digital transformation, we are excited to welcome Anurag,” said Victoria White, Managing Director, Accion Global Advisory Solutions. “His deep experience and extensive network will further our ability to deliver top quality services in South and Southeast Asia and expand Accion’s footprint in the region.”
Prior to joining Accion, Anurag was the COO and Head of Strategy at EasyGov, a Jio Platforms subsidiary. He drove business growth for public-private clients and contributed to developing an innovative AI solution that reduces errors of inclusion-exclusion for social protection. Previously he held leadership roles at MicroSave Consulting (MSC), Accenture, PwC, and IBM. 
He has also served as a member of the Global Expert Committee of the Arab Economic Unity Council and a faculty member at Accenture Management Consulting University in the United States. He contributes as a speaker at various forums for financial inclusion, technology, and impact, addition to serving as a jury member for social impact awards and mentoring startups. Anurag holds a Bachelor of Technology from the National Institute of Technology (NIT) Trichy, where he received the Director's Recommendation. 
 “Accion is one of the leading forces in creating an inclusive economy,” said Anurag Saxena. “I am thrilled to be part of such a committed team that is building on its rich history of spearheading financial inclusion for the last six decades. Through our partnerships offering innovative services, and finding new ones, we can grow the availability of responsible financial solutions to underserved people in Asia and around the world.”


<hr />

<h3>About Accion</h3>
Accion is a global nonprofit on a mission to create a fair and inclusive economy where underserved people have quality financial choices and opportunities to improve their economic wellbeing. We are the leading early-stage investor in fintech for inclusion and experts in digital transformation with decades of experience harnessing the capital markets to deliver cheaper, more accessible, and customer-friendly solutions for the 1.8 billion people left out of, or poorly served by, the financial sector. For more than 60 years, Accion has helped tens of millions of people through our work with more than 235 partners across 75 countries. More at <a href="https://www.accion.org">https://www.accion.org.</a>
&nbsp;
<h4>Media Contact</h4>
Thessa Mooij 
Director of Public Relations 
Phone: +1.917.631.2518 
<a href="mailto:tmooij@accion.org">tmooij@accion.org</a>

Accion Names Anurag Saxena as VP, Asia, Global Advisory Solutions

Report

<h2>At Accion, we know financial services are powerful tools to help reduce poverty and create opportunity.</h2>
Since our founding in 1961, we have helped build 235 financial institutions across 75 countries. Last year, our work to create a more fair and inclusive economy reached 106 million people. And in our recently published <a href="https://content.accion.org/wp-content/uploads/2023/09/Accion-2022-Impact-Report.pdf" target="_blank" rel="noopener noreferrer">Impact Report</a>, we dive into how we translate our vision into action — and impact.

<a href="https://content.accion.org/wp-content/uploads/2023/09/Accion-2022-Impact-Report.pdf" target="_blank" rel="noopener noreferrer">Download our report</a> to read more about Accion’s impact framework, our legacy of impact, and our ongoing commitment to creating locally led, systemic change.

2022 Impact Report

Sebastian Molina Gasman

Why we invested in Licify, a digital platform matching small contractors with building projects and speeding up payments in the construction industry

Despite being one of the largest industries in the global economy, the construction industry hasn’t kept up with technology’s advances. Construction companies procure over $250B in services from contractors each year, yet they rely on manual processes to allocate and manage contracts. This presents a large opportunity to digitize and optimize processes, leading to more projects and efficiencies for the small contractors that power the industry. Colombian startup <a href="https://licify.co/" target="_blank" rel="noopener noreferrer">Licify</a> is seizing this opportunity by helping small businesses bid for construction contracts, speeding up payments in the industry, and underwriting loans through its digital platform.

In Latin America, procurement processes in the construction industry remain largely analog. Contractors — 95 percent of which are micro, small, and medium enterprises (MSMEs) — regularly make bids over the phone, via email, or even through letters. As a result, these processes tend to be opaque and heavily dependent on interpersonal relationships. This not only makes it harder for smaller contractors to secure new projects, and thus grow their businesses, but also makes it impossible to capture data that can verify contractors' track records and capacity to take on new projects. Problems for MSME contractors don’t stop there, however. Once they win a bid for a project, they typically pay upfront for materials and labor to start construction, putting them in a vulnerable position as disruptions in their cash flow cycle will result in project delays.

To change this, Licify has launched a B2B procurement marketplace with embedded fintech offerings for small businesses in the construction industry. <a href="https://www.accion.org/how-we-work/invest/accion-venture-lab" target="_blank" rel="noopener noreferrer">Accion Venture Lab</a> is proud to partner with them on their journey to help construction MSMEs operate more efficiently and grow. We’re excited to invest in Licify as they:
<h3>Allow construction MSMEs to work on more projects, more often</h3>
Starting a project is particularly expensive for MSME contractors. Before they can even create an invoice, they need to pay for materials and human capital to execute a portion of the job. As a result, once a contractor secures a project, they often lay out large sums of money to kickstart it. Furthermore, given the unique risks inherent in construction, contractors are often unable to secure credit from banks and other MSME lenders to finance this initial cash outlay.

During conversations with contractors in Colombia, we found that this was one of the key pain points that prevented contractors from undertaking larger jobs, or working on additional projects, despite having the ability and capacity to complete them. One contractor recounted that he was forced to sell his own car every time he secured a contract, as this was the only way that he could obtain enough capital to pay for the drywall materials he needed to start working.

Through Licify’s platform, contractors can bid on projects tendered by construction companies, leveling the playing field to give them access to high-quality opportunities. Once a project is granted, Licify uses the data gathered on both the project and the contractor to advance payments and underwrite working capital loans. Through this access to capital, the amount of cash at hand no longer becomes a barrier to undertake a project and contractors can focus on execution.
<h3>Prevent cash crunches that disrupt projects</h3>
Once a project is started, cash flow cycles continue to be a challenge for MSME contractors. After issuing an invoice to the construction company, they typically wait two to four weeks to get paid. This can put them in a challenging cash flow position, as they rely on these payments to continue working on a project. Any delays or disruptions in the process puts their ability to maintain a project timeline at risk. In fact, cashflow delays were cited by Licify customers as the leading reason for project delays and cost overruns. In an industry where 80 percent of projects are delivered late and over budget, alleviating cash flow delays is a priority both for contractors and construction companies.

By plugging directly into the payment flow of construction projects, Licify provides contractors with flexibility on their payment schedules. As contractors finish a project, Licify can advance payments to better match their cash outflows, avoiding delays in payments to workers and enabling the purchase of additional materials. Licify then directly collects payments from the construction companies allowing contractors to focus on executing the project and not on managing multiple receivable schedules.
<h3>Modernize construction procurement technology</h3>
Licify is reinventing how contractors access construction projects. The platform connects builders with the best contractors for their projects by opening up bids to all qualified service providers. To do this, Licify's marketplace presents contractors with ongoing construction projects to bid on. These are posted by builders, who can use Licify to compare potential contractors for portions of a project. This process provides construction companies with data that was previously difficult to obtain, such as a contractor’s operational bandwidth and track record with similar projects while allowing contractors to access new opportunities. This use of technology brings operational efficiencies for both sides of the market and democratizes access to high-quality opportunities.

Once Licify matches contractors to a project, it helps builders manage the payment flow to their small contractors with a suite of digital tools to oversee project progress and manage documentation. With projects often involving over a hundred contracts, Licify frees up valuable administrative time that could be better spent on other parts of a project. So far, this value proposition has resonated with the top-building companies in Colombia, with over 50 clients signing multi-year agreements and tendering contracts with a yearly value above $1B USD to small contractors.
<h3>Support small businesses across Latin America</h3>
Licify is consolidating its presence in Colombia and growing its payment and lending services in the region. Today, Licify has already registered over 16,000 small contractors on its platform who are generating over 2,500 bids per month on active projects. With this new funding, the company plans to expand into Mexico, where they have already secured their first client, in the near future. We believe Licify addresses a key pain point we’ve seen across the region, and we’re excited to work with Licify as they move into new markets.

This is Accion Venture Lab’s first investment in the construction tech industry. We feel confident working with a company with such a strong product-focused mindset and led by two industry veterans, Fernando Olloqui and Pedro Celia, who have worked as both builders and contractors. “We know that if we improve this supply chain development and SME development in construction, we’re going to have a huge impact,” says Fernando. We believe that Licify’s solutions to facilitate connections and alleviate key pain points for small businesses in this large industry represent a great opportunity to catalyze growth for a key segment of MSMEs, and we can’t wait to continue supporting them in this journey.

Hear more about Licify from founder Fernando Olloqui:

[embed]https://youtu.be/5pUU95gpz0Y[/embed]

Licify catalyzes growth for small construction businesses in Latin America

Introduction

From our CEO and Board Chair

Dear Friends,
After decades of great progress, for the first time in our lives, poverty is on the rise and hunger is worsening. These trends are exacerbated by climate change, spiking inflation, historic levels of migration, and war. Against this backdrop, Accion’s work has never been more important.
At the same time, the pace of digital innovation has rapidly accelerated. We’ve made great progress in bringing underserved people into the digital economy. If we can seize this moment, we can emerge from the pandemic and help accelerate a more fair, inclusive, and resilient economy.
<blockquote>we’re focused on reaching groups that remain financially excluded or underserved: micro and small businesses, smallholder farmers, and women</blockquote>
Last year, Accion refreshed its strategy to ensure our work continues to have the greatest impact for underserved people globally. We are developing responsible financial solutions in embedded finance, agtech finance, and innovations addressing the changing nature of work, which have great potential for impact. And we’re focused on reaching groups that remain financially excluded or underserved: micro and small businesses, smallholder farmers, and women — so they have quality financial choices and opportunities to improve their economic wellbeing.
Through the work of Accion and our partners, a small business owner can access working capital to purchase her inventory. A farmer can insure her farm to protect against climate disasters. And a gig worker or aspiring programmer can save money and gain the skills needed to advance her career, strengthening her resilience.
Accion is uniquely positioned to seize this moment. By advising and investing in businesses delivering social impact, and by influencing the broader industry, we are creating important opportunities for underserved people and helping to create our vision of a more inclusive world.
With your support, we are adapting our work to meet the most urgent challenges — and open pathways to a brighter, more resilient future for those facing great uncertainty today.
<img class="alignnone size-full wp-image-24349" src="https://content.accion.org/wp-content/uploads/2021/06/MESDianaSignature.png" alt="" width="117" height="57" /><img class="alignnone size-full wp-image-24350" src="https://content.accion.org/wp-content/uploads/2021/06/Dianasignature.png" alt="" width="129" height="52" />
-Michael Schlein and Diana Taylor
<img class="alignnone size-full wp-image-24348" src="https://content.accion.org/wp-content/uploads/2021/06/MESDianapic.png" alt="" width="300" height="215" />
<hr />
<h4>For blue-collar workers like Muhammad, a dairy farm supervisor in Egypt, and Leonardo, a delivery driver in Indonesia, accessing quality financial tools and job opportunities can pose a significant challenge, limiting their ability to grow their careers. Accion invests in and supports innovative fintech companies that are working to change that. In Egypt, Khazna provides a one-stop banking solution for underserved clients, and in Indonesia, MyRobin provides workers with financial tools and job postings they can leverage to gain new skills and boost their incomes.</h4>
<iframe title="Creating financial stability and opportunity for low-income workers" width="500" height="281" src="https://www.youtube.com/embed/g3G1bBTAtNk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

Our global impact

With the support of visionary partners, in 2022, Accion connected underserved people with financial solutions — including credit, savings, insurance, and payments — to survive and thrive in the modern economy. Working with banks, fintechs, platforms, and other partners, we advanced responsible, sustainable, and scalable solutions, focusing on groups that remain financially excluded or underserved:  small businesses, smallholder farmers, and women.
Accion delivered quality financial choices and opportunities for underserved people around the world to improve their economic wellbeing by:
<ul>
<li>Investing in entrepreneurs and companies that provide inclusive financial services.</li>
<li>Guiding and advising the management teams of inclusive finance service providers to ensure their success.</li>
<li>Sharing successes and lessons learned, to export best practices to other companies and overcome barriers to progress.</li>
<li>Conducting rigorous research and advocacy to advance inclusive financial systems for low-income people around the world.</li>
</ul>

Our teams in action

<img class="alignnone size-large wp-image-28372" src="https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3598_bright-1024x684.jpg" alt="" width="1024" height="684" srcset="https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3598_bright-1024x684.jpg 1024w, https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3598_bright-300x200.jpg 300w, https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3598_bright-768x513.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" />Vivid sunflowers and roses line the sidewalk in front of Paulina’s storefront in Ambato, Ecuador. Paulina first focused on selling clothing and gifts, but when she started displaying flowers, her bouquet business also began to bloom.
As a single mother of three, Paulina’s store is the center of her family’s life and livelihood. “Having this place means there is also a place for my children,” she said. “They go to their schools and lessons, and then they come back and spend time here at the store. They have a place to be.”
Small business owners, especially women like Paulina, often struggle to get the capital and support they need to thrive in the modern economy. The pandemic only worsened these challenges. As Paulina said, “I felt unprotected; I had no work. I wasn’t able to do anything.”
Through the work of Accion and our longtime partner Banco Pichincha, Paulina and millions of small business owners like her took advantage of digital financial products to weather the storm of the pandemic and adapt for the future. For Paulina, digital products make juggling her business and family responsibilities easier. “The time it takes to go to a bank, fill out forms, and take along the little ones is slow and tiring,” she said. “But this is not so with digital.” Beyond saving time, our research shows that <a href="https://www.accion.org/the-impact-of-digital-transformation-on-underserved-microbusinesses-findings-from-accions-partnership-with-mastercard">more than 70 percent of women</a> entrepreneurs reported that the financial health of their businesses improved as they used new digital financial products.
<img class=" wp-image-28373 alignleft" src="https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3581_bright-684x1024.jpg" alt="" width="361" height="541" srcset="https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3581_bright-684x1024.jpg 684w, https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3581_bright-200x300.jpg 200w, https://content.accion.org/wp-content/uploads/2023/06/Accion_Ecuador-3581_bright-768x1150.jpg 768w" sizes="(max-width: 361px) 100vw, 361px" />The largest financial institution in Ecuador, <a href="https://www.pichincha.com/portal/">Banco Pichincha</a> has a 115-year history of serving low-income clients, and more than half of Banco Pichincha’s customers are women. Accion worked with Banco Pichincha to drive the adoption of the bank’s digital wallet and app. After 12 months of using these products, <a href="https://www.accion.org/the-impact-of-digital-transformation-on-underserved-microbusinesses-findings-from-accions-partnership-with-mastercard#2.-digital-products-can-empower-women">72 percent of women small business owners</a> said their financial health improved, and 80 percent said they felt less overwhelmed about managing their expenses and debt.
“With the development of online and digital credit, the client is able to manage themselves with the help of our credit agents, which allows us to be available at all times,” said Beatriz Vazquez, the bank’s microfinance strategy manager. “The clients who make use of this credit are usually women because they require greater availability depending on their kind of work.”
Now that Paulina has the credit she needs at her fingertips, she is more hopeful about the future. “I’ve evolved, innovated, and grown,” she said. “I have invested in things that are very helpful for my business. I feel I am financially sound for my children.”

Our work around the world

The Center for Financial Inclusion

The Center for Financial Inclusion (CFI) is an independent think tank housed at Accion that works to advance inclusive financial services for the nearly two billion people lacking financial tools needed to improve their lives and prosper. CFI focuses on four thematic priorities: protecting consumers in the digital economy, exploring data risks and opportunities, responding and adapting to the risks of climate change, and advancing women’s financial inclusion.
CFI’s insights and influence answered critical needs in 2022 as underserved communities globally confronted complex and evolving challenges, including an uneven recovery from the pandemic, worsening climate change, unprecedented levels of migration, persistent gender disparities, new threats from digitization, and more. CFI analyzed the impacts and responses to these issues and equipped leaders with the right resources, knowledge, and relationships to devise an informed course of action.

<div id="attachment_28374" style="width: 1034px" class="wp-caption alignnone"><img aria-describedby="caption-attachment-28374" class="size-large wp-image-28374" src="https://content.accion.org/wp-content/uploads/2023/06/KENYA_DAY-02_FER07702_10-1024x683.jpg" alt="" width="1024" height="683" srcset="https://content.accion.org/wp-content/uploads/2023/06/KENYA_DAY-02_FER07702_10-1024x683.jpg 1024w, https://content.accion.org/wp-content/uploads/2023/06/KENYA_DAY-02_FER07702_10-300x200.jpg 300w, https://content.accion.org/wp-content/uploads/2023/06/KENYA_DAY-02_FER07702_10-768x512.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" />Faith Mwikali operates a small pharmacy in Nairobi, Kenya. Many of her clients are refugees who have fled conflict and poverty in neighboring Somalia. Faith provides them with medications and advice they need to address any health conditions or concerns. “I personally know most of them,” she said. “I also live in the neighborhood, so they trust me. They know me.”</div>
Community-based pharmacies like Faith’s are often the first point of care for people living in Africa, helping communities access medicine, vitamins, and other essential products. But operational challenges prevent these pharmacies from keeping their shelves stocked, holding back Africa’s health supply chain. These challenges only worsened during the pandemic, when Faith said her business saw a vast increase in customer demand. “People were in panic,” she said.
Accion’s fintech partner Field Intelligence helps these pharmacies in Kenya and Nigeria streamline and manage their inventory, especially in times of unpredictable demand, through their Shelf Life subscription service. Pharmacists order the medicine and products they need through the platform, and Shelf Life delivers it directly to them. This service has enabled pharmacies to save on costs and boost their profits.
“Before, I was ordering from wholesalers,” said Faith. “It was difficult for me, because sometimes wholesalers do not allow products to be purchased with credit. So, they need cash. But buying inventory with cash is not easy for a small business. So, you need someone to support you. And now I find myself using Shelf Life.”
Michael Moreland, CEO and co-founder of Field Intelligence, sought to address this very problem faced by Faith and small business owners like her. “Today, nearly 90 percent of our customers come to us as a source of alternative finance,” he said. “That’s what they see in us. That’s what they want from us. With it, they also hopefully have more stock on the shelf and more chances to treat their patients.”
Thanks to the support she’s received from Field Intelligence, Faith is making plans to expand her business. “I love what I do,” she said. “Apart from selling medicine, I also listen to people, and advise them, and encourage them, whatever the situation they may be in.”

Accion Opportunity Fund

Accion Opportunity Fund (AOF) provides U.S. small business owners with access to the capital, networks, and coaching they need to thrive. Entrepreneurs from a variety of industries—including restaurants, salons, trucking, construction, and beyond—turn to AOF for transparent and affordable capital to invest in their own success, as well as free comprehensive business resources. The majority of AOF’s clients are women and people of color, who face barriers to securing capital and resources because they are systematically shut out from traditional financing. AOF has spent more than 25 years investing in diverse entrepreneurs so they can invest in themselves and their communities, while also working to advance racial, gender, and economic justice within the financial system.

Our impact

<img class="wp-image-28376 alignleft" src="https://content.accion.org/wp-content/uploads/2023/06/MikaClark.jpg" alt="" width="382" height="382" srcset="https://content.accion.org/wp-content/uploads/2023/06/MikaClark.jpg 1024w, https://content.accion.org/wp-content/uploads/2023/06/MikaClark-150x150.jpg 150w, https://content.accion.org/wp-content/uploads/2023/06/MikaClark-300x300.jpg 300w, https://content.accion.org/wp-content/uploads/2023/06/MikaClark-768x768.jpg 768w" sizes="(max-width: 382px) 100vw, 382px" />For Mika Clark (pictured at right), owning a small business has allowed her to achieve greater independence while fulfilling her lifelong passion of improving her community’s well-being. Mika is the founder of Treasure Family Services, a behavioral health and social services agency that provides resources and support to low-income families in greater Atlanta, Georgia.
Growing up in urban Atlanta with modest means, Mika always found herself wanting to support others through economic and social hardships. Now, her business provides behavioral and mental health support for vulnerable people, family skills building, and corporate coaching.
Mika began her career in administrative positions at a social work agency. After eight years, with encouragement from her colleagues and her supervisor, Mika set out on her entrepreneurial journey.
Within the year, Mika secured her first government contract from Georgia’s Division of Children and Family Services. Four years later, Mika is now consulting other social services agencies while working to enhance the broader the social services industry. &#8220;I get the best of both worlds,” Mika said. “I enjoy serving clients and teaching people to do what I do: To spread their wings.”
Mika started her business with only one paycheck, and in the early days, accessing the capital she needed to get off the ground was a major obstacle. “The biggest challenge has been funding,” she said. “Nobody wanted to fund me. Accessing credit has been a barrier. Institutions were not willing to assist me, and I’d get predatory lending offers.” The pandemic created additional challenges for her business, as social distancing requirements forced her to shift to virtual services and upended her operations.
To stabilize and grow her business, Mika applied to receive a Southern Opportunity And Resilience Fund (SOAR) loan, administered by Accion Opportunity Fund (AOF) and other community-based lenders. SOAR provided affordable capital and free business support services to small businesses across the South and Southeast that experienced hardships due to the global pandemic.
“I wasn’t expecting to receive the funds, but I was so excited when I did,” she said. “It’s definitely helping me to scale.” The support Mika received through SOAR and AOF has helped her better manage payroll and fill the gaps between government funding. According to Mika, working with AOF has been an “easy, a pleasant experience.”
In the future, Mika looks forward to offering more services virtually, expanding Treasure Family Services’ current capacity.  &#8220;Being the first one [in my family] to have a business, the first one on the road to generational wealth; hearing the success stories of the families we help, big or small—it’s very rewarding.”

Join us

<h2>Together, we can create a fair and inclusive economy </h2>
As underserved communities face a wide range of evolving threats, our work remains more urgent than ever. We rely on the support of visionary individuals and innovative global partnerships to power our work. Together, we can build an inclusive future — where financially excluded or underserved people have quality financial choices and opportunities to improve their economic wellbeing, and achieve their full potential.
<a href="https://www.accion.org/get-involved/donate">There are many ways you can support our work.</a>

Accion 2022 financials

Accion’s most recent audited financial statements are available <a href="https://www.accion.org/financials">here</a>.

Board of Directors

You can view Accion’s Board of Directors <a href="https://www.accion.org/about/our-board-of-directors/">here</a>.

Cover photo: Usha Ran Swain used a loan from Accion’s partner Annapurna Finance to purchase two cows and fertilizer to support her farm in Odisha, India. Annapurna reaches and supports rural clients like Usha with digital financial tools that answer their unique needs.


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<h1>Innovating to create a fair, inclusive economy</h1>
<h4>In the face of global economic uncertainty and rising poverty, Accion is harnessing the power of digital innovation to develop cheaper, more accessible, and customer-friendly financial solutions. We focus on groups that remain financially excluded or underserved — small businesses, smallholder farmers, and women — who are most exposed to economic and environmental threats and integral to the success of their communities.</h4>

2022 Annual Report

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We harness the power of digital technology to

A GLOBAL NONPROFIT

We harness the power of digital technology to create a financially inclusive world.

We focus on global challenges

Building Resilience

Stability for Families

SAVING MONEY

Changing Climate

Going Digital

Reliable Food Supply

Economic Progress

How we work

Advise

Invest

Partner

Influence

What makes a successful B2B marketplace

Building strong customer relationships in a digital environment

Strengthening our impact requires rigorous measurement

Leading a digital evolution for refrigerated trucking businesses in the United States

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