APPROXIMATELY 1.7 BILLION PEOPLE ARE STILL UNBANKED.
Roughly one-fourth of the global population, of which half come from the poorest 40% of households within their economy. Lack of education and unemployment are only a part of the picture with cost of accounts and travel to the bank being the main hindrances.
What We Do
SYNE is in the process of building a digital financial services infrastructure to enable access for the unbanked population. SYNE aims to provide affordable, convenient and secure financial services worldwide and help billions move from cash-based transactions to formal digital financial transactions.
SYNE platforms partner with traditional institutions to help reduce operational costs and improve the quality of intermediation activities.
Digital platforms also lead to greater economic stability as well as increased financial intermediation for the customer and the economy. Customers benefit from greater control of personal finances, fast financial decision making and being able to make/receive payments in seconds.
How We Do
SYNE enables this through Social Impact Investing, supporting the initiatives that generate a positive social impact on individuals and community. SYNE helps achieve goals, by providing access to impact investors along with the expertise and support networks.
Through this SYNE strengthens the ties with the communities and believes that economic growth should be inclusive, making basic financial products, services and information available to all. Access to basic financial products for those with low income is regarded critical in reducing poverty. It should be noted that many of the NGOs and social entrepreneurs dealing some of the most challenging societal issues have little access to financial products and this needs to be corrected.