During the coronavirus pandemic, financial inclusion is more critical than ever. Low-income families and small businesses are acutely vulnerable to the health and economic impact of a global pandemic. Accion is working with our partners around the globe to adapt and respond to this challenge and offer solutions that help people stay resilient during this difficult time.

How we’re working with our partners around the world to help vulnerable people and small businesses.

COVID-19: Economic Response and Resilience

Fintech has the power to build a more inclusive world. Fintech for the People is about the innovators who are developing fintech solutions that reach the people who’ve been left behind. In each episode, we’ll hear from innovators who are creating financial solutions that bring every person the financial tools they need to grow their business, support their family, and build their community. Together, we’ll learn how fintech looks different in spaces and places where basic financial services are a luxury — and how solutions to address these challenges require a different level of creativity, empathy, and execution.
Fintech for the People is an Accion podcast hosted by Amee Parbhoo, Managing Partner of Accion Venture Lab — an early-stage investor in inclusive fintech startups. Episodes will be released in seasons, on a weekly schedule.

Fintech has the power to build a more inclusive world. Fintech for the People is about the innovators who are developing fintech solutions that reach the people who’ve been left behind. In each episode, we’ll hear from innovators who are creating financial solutions that bring every person the financial tools they need to grow their business, support their family, and build their community. Together, we’ll learn how fintech looks different in spaces and places where basic financial services are a luxury — and how solutions to address these challenges require a different level of creativity, empathy, and execution.

Fintech for the People

Inclusive fintech products cover a wide range of services, from mobile banking and digital payments to microfinance and insurance. These services are designed to be affordable and accessible, with a focus on meeting the specific needs of diverse communities, ensuring all individuals have access to the financial tools they need to achieve their goals and improve their livelihoods. 
 This series features videos interviews with inclusive fintech leaders from our portfolio companies in Indonesia, Colombia, Pakistan, and all around the world. These interviews highlight the insights and experiences of these leaders and showcase the impact of inclusive fintech on underserved people and communities. 
 Watch now to learn insights from some of the most innovative and impactful voices in the industry.

Hear insights from innovative fintech leaders on how they provide financial services to underserved populations. 

Inclusive fintech leader stories

With access to simple financial tools, people can build better futures. See how Accion is opening opportunities around the world.

When we give people and small businesses access to financial tools, they can thrive

Video

[embed]https://vimeo.com/489464646[/embed]

With access to simple financial tools — like digital credit, crop insurance, and mobile payments — people all around the world can build better futures. Watch the video to see how we connect people and small businesses to the tools they need to thrive.
<h2>En español:</h2>
[embed]https://vimeo.com/503307390[/embed]

<hr />

<h2>Transcript</h2>
Farmer (voiceover): My father taught me how to farm. But, because of the drought, I haven't been able to provide for my children the way my father provided for me.

Pharmacist 1 (voiceover): It gives me great pride to run my pharmacy and serve my community...

Pharmacist 2 (dialogue): "Anything?"

Pharmacist 1 (dialogue): "Not yet."

Pharmacist 1 (voiceover): ...Which makes it so much harder when I can't be prepared for my customer's needs.

Restaurant owner (voiceover): Everything I do, I do for her.

Restaurant owner (dialogue): "Eat your breakfast first."

Restaurant owner (voiceover): So, when the virus shut down my restaurant... [a masked customer knocks on the restaurant's closed door]

Restaurant owner (dialogue): "Sorry, we can't open."

Restaurant owner (voiceover): ...I felt like I was letting her down.

[On-screen text] In times of uncertainty, what does opportunity look like?

Farmer (voiceover): Having access to crop insurance has changed my life. It has allowed me to protect what is most important.

Pharmacist 1 (voiceover): I discovered a service that lets me manage supplies and order what I need online so my community can get the medication they need when they need it.

Owner (voiceover): By being able to receive online payments, I've been able to move my entire business online and it's been a life saver.

[On-screen text] For those who have been left out,  Accion opens opportunities to build better lives. #OpenOpportunity

An open opportunity leads to a brighter future

With access to simple financial tools, people can build better futures. See how Accion is opening opportunities around the world. 

Open Opportunity

Supply chain finance (SCF) offers high-quality, low-risk financing to the small merchants that tend to be underserved by traditional lenders.

Supply chain finance

We are building a world with economic opportunity for all — where everyone can access, use, and benefit from a full range of high-quality, affordable financial services. Read the stories of real people whose lives have been improved by these efforts.

The real impact of financial inclusion

Coryell Stout

Amee Parbhoo

Report

Digital technology continues to drive massive change throughout the financial sector. Acting strategically, inclusive fintech startups can use technology to increase access to, improve the quality of, or reduce the cost of financial services for the underserved.

However, in too many instances, fintech startups make the same mistake time and again: they build technology for technology’s sake. These fintech models are great on paper but don’t consider the needs and preferences of their customers. They do not use new technologies strategically and fail to transform finance into a sector that works for everyone.

Fortunately, a number of successful inclusive startups are finding innovative ways to balance new digital technologies with appropriate human interactions to engage, educate, and support their customers. Finding the right combination of “tech and touch” at the right moments during a customer’s journey is a key factor in determining whether a startup succeeds or fails. Doing so will help a business acquire and retain customers, reduce expenses, increase profitability, and accelerate financial inclusion.

&nbsp;

&nbsp;

<img class="size-full wp-image-10267 alignleft" src="https://content.accion.org/wp-content/uploads/2018/08/MCF.png" alt="" width="225" height="225" />

This report was developed with the support of The Mastercard Foundation, which seeks a world where everyone has the opportunity to learn and prosper. The Foundation’s work is guided by its mission to advance learning and promote financial inclusion for people living in poverty. One of the largest foundations in the world, it works almost exclusively in Africa. It was created in 2006 by Mastercard International and operates independently under the governance of its own Board of Directors. The Foundation is based in Toronto, Canada. For more information and to sign up for updates from the Foundation, please visit <a href="http://www.mastercardfdn.org">http://www.mastercardfdn.org</a>. Follow the Foundation <a href="https://twitter.com/mastercardfdn?lang=en">@MastercardFdn</a> on Twitter.

The Tech Touch Balance

Insights on how the best fintech startups integrate digital and human interaction to accelerate financial inclusion

The tech touch balance

Women are still disproportionately excluded from the financial services that let them take control of their lives. We’re working to solve this problem, and we have a diverse team leading the charge. Get to know the women at Accion and our portfolio partners who have dedicated their careers to helping empower women on a global scale.

Series