Apply for the 2021 Fintech Innovation Challenge by 11 June!
Now more than ever, fintechs are a crucial driver of women’s financial inclusion! In its third year, Women’s World Banking’s Fintech Innovation Challenge provides a global stage to highlight fintech innovations serving unbanked and underserved women in order to build their security and prosperity in the face of global inequalities.
Despite years of progress in advancing financial inclusion, nearly 1 billion women around the world still remain excluded from formal financial services, and there is a persistent 9 percent gender gap across emerging markets. Moreover, the economic toll of COVID-19 has fallen disproportionately on women, exposing their particular vulnerability to global shocks. While the pandemic has accelerated the digitization of financial services, low-income women remain at risk of being left behind given the unique barriers they face to adoption and usage of digital financial services. Combined with broader inequalities for women such as rising unemployment, disparities in access to healthcare, and the effects of climate change, it is more imperative than ever that gender equality is at the center of recovery and growth.