Regional ICT & Digital Finance Advisor FHI 360
The World Bank estimates that there are close to two billion people who do not have access to financial services as of data from 2015. Technology has demonstrated a strong potential to help improve access to and quality of financial services for these underserved client segments. Exciting innovation is happening in emerging markets, including many parts of Asia, either through a new product or service launched by start-ups or through partnerships with incumbent banks and corporates.
This panel will discuss insights around the landscape of fintech for financial inclusion in Asia, including current challenges and opportunities that are unique to the region. The panel will also explore the opportunity for impact investing and philanthropic capital to play a catalytic role in advancing this space, especially in Asia.
Key take aways:
- The context of the challenge of access and relevance of financial services for underserved segments in Asia and the opportunity brought by technology and innovative business models
- The current landscape of the enabling environment for fintech for financial inclusion in Asia.
- Nascent ecosystem to support growth, lack of clarity around regulatory framework
- Lack of investible pipeline outside of India and China
- How to leverage on governments’ interest in financial inclusion
- The role of philanthropy and impact investing in accelerating the growth of early innovators in the fintech for financial inclusion space in the region – particularly in bridging the connection between philanthropy and commercial capital.