Visa, the MetLife Foundation, Accion, and the International Finance Corporation (IFC) of the World Bank Group, founded the Inclusive Fintech 50 to recognize promising early-stage fintech companies that are driving financial inclusion.
“…research indicates that investment capital has largely overlooked early-stage and inclusive fintechs…” said Marianne Mwaniki, Head of Social Impact at Visa, Inc. “This is our opportunity to draw attention to the fintechs that might be flying under the radar.”
The inaugural list was chosen from 400 applicants and includes fintech companies that provide financial services and solutions that are tailored to aiding the 3 billion financially underserved. With technology advancements like mobile phones and ubiquitous Internet access, the impossible has become possible – services can now be delivered to populations that were previously not accessible.
“Inclusive Fintech 50 demonstrates that there are lesser-known fintechs able to reach underserved populations with appropriate financial products,” said Sarah Willis, Director of Financial Health & Inclusion at MetLife Foundation. “We want to support startups that are addressing the holistic needs of these target segments with the ultimate goal of improving their financial health.”
Everest is an economic and value transfer platform, anchored in biometric identity, which is the world’s only device-free, globally accessible, self-sovereign digital wallet and payment solution. By leveraging blockchain and distributed storage technologies, Everest empowers banks, governments, NGOs, hospitals, businesses and other institutions to transparently and effectively exchange value with those hard to reach users, especially the 5 billion users without smartphones, all while giving users the most control and privacy in the market. App developers leverage Everest’s platform for services like remittances, micro-finance, micro-insurance, payroll, cash transfer, KYC/AML, land, medical records, etc.
In short, we strive to bank the unbanked and provide financial services to those who need it most, which necessitates providing an identity system which the user can’t lose, which the institution can quickly and securely enroll them into, and which can be tailored to specific needs.
To be singled out and recognized for our work by this judging panel filled with thought leaders in Fintech is a true honor! We will continue to push forward with our mission to provide identity and value exchange platforms that empower the un-represented, under-represented, and under-served. We applaud the other companies on the Inclusive Fintech 50 and their efforts to improve access and inclusion in financial technologies.