This month, London is set to host the world’s first FinTech for Good Summit, welcoming global leaders from the technology, finance, charity and the NGO sector to discuss the impact that financial technology can have in the developing world.
The invite-only summit will provide a place to discuss how financial technology can be leveraged to improve the lives of millions of people around the world.
The charity sector has been criticised for trailing behind business in the adoption of transformative tech which could provide vital solutions to some of the world’s most difficult and intractable problems. The Summit will create a forum for policy-makers, technologists, and development workers to discuss the ways that financial technology can be leveraged efficiently and effectively over the next 12 months.
FINCA International and the Rainmaker Foundation are co-organising the Summit which will take place at 12 noon in the Leadenhall Building in Central London on 22 September.
FINCA International is a global microfinance organisation which provides financial services to low-income entrepreneurs in the developing world to start and expand businesses. FINCA currently has 1.8 million customers globally in 22 countries, and recently struck the world’s largest FinTech-microfinance collaboration in Africa to enable loan applications to be credit checked quickly and even if there is no local credit rating agency.
The Rainmaker Foundation exists to build a community of passionate philanthropists dedicated to transforming the world as we know it. Having achieved success in their respective careers, Rainmakers come together to empower charity founders and social entrepreneurs, enabling them to amplify their impact and become sustainable.
Rupert Scofield, founder and global CEO of FINCA International, said: “FINCA has always recognised the transformative power that FinTech has to change the world. As a microfinance organisation, we provide entrepreneurs with loans to start and expand businesses, providing them with a sustainable and long-term routes out of poverty.
“FinTech provides us with the opportunity to provide these services to more people more efficiently – and at a lower cost. We are really looking forward to seeing the positive outcomes and potentially transformative new partnerships.”
Cosmina Popa, CEO of the Rainmaker Foundation, said: “A great part of our work at the Rainmaker Foundation is to drive innovation within organisations working directly with the underserved, both in the UK and internationally. Rather than seeing the Global South as beneficiaries of aid, what if we viewed them as valuable stakeholders in the global economy? We’re delighted to work with FINCA to explore ways to tap into the transformative capabilities of tech and apply them to solve some of the world’s most pressing challenges in health, education, poverty.”