1.7 BILLION PEOPLE IN THE WORLD IS UNBANKED.
That’s roughly one-fourth of the global population. Of these unbanked adults, only half come from the poorest 40% of households within their economy. A lack of education and unemployment are only a small part of the picture; the cost of accounts and distance to the nearest bank are also contributing factors.
Digital Financial Services
We are building the digital financial services infrastructure to enable access for the unbanked population. We aim to provide affordable, convenient and secure financial services around the world to help millions of poor customers move from cash-based transactions to formal digital financial transactions.
Our platforms can also partner with traditional institutions which can help them reduce operational costs and improve the quality of their intermediation activities.
The digital platforms can also lead to greater economic stability and increased financial intermediation, both for customers and for the economy. Customer benefits includes greater control of customers’ personal finance, quick financial decision making, and the ability to make and receive payments within seconds.
Social Impact Investing
Through Social Impact Investing, we support initiatives that generate a positive social impact on people and the community. We help them achieve their goals, by providing not only access to impact investors but also expertise and support networks. By doing so, we can strengthen our ties with the communities where we work.
We believe that economic growth must be inclusive, so basic financial products, services, and advice must be available to everyone. Access to basic financial products for people on low incomes is widely recognized as a critical element in reducing poverty. Many NGOs and social entrepreneurs, who deal with some of the most challenging issues in our society, have poor access to financial products.
More and more institutions have come to recognise that in the 21st century their in-house capacity and knowledge are too limited when compared to the speed, scale and complexity of many public problems. Instead, they look to networks of people inside and outside of government to make decisions and take action more effectively and, because those decisions involve the community, more legitimately.
The current explosion of interest in sustainable, mission-related, and socially responsible projects is arguably the strongest phase of expansion the space has seen in its history. The major difference now is the breadth and pace with which social issues have thrust themselves into the national narrative, and the ramifications they have in the world of business and finance.