Inclusive Fintech: responsAbility Becomes Inaugural Signatory for Responsible Practices
responsAbility Investments is an Inaugural Signatory to the newly defined, globally applicable Guidelines for Investing in Responsible Digital Financial Inclusion. These Guidelines, an initiative co-led by the IFC and developed in collaboration with a group of over 50 fintech investors and digital financial innovators, aim to spread the benefits of the fintech revolution more widely.
Innovations in digital technology have created new and exciting opportunities to reach unbanked and underbanked low-income customers in emerging markets as well as developed countries. Traditionally, these customer segments have been considered too risky and too poor to be of interest to banks and insurance companies. Mobile wallets and mobile money transfers, peer-to-peer and other alternative lending platforms, pay-as-you-go asset finance and digital micro-credit are examples of recent innovations that are reaching hundreds of millions of consumers and small businesses. These innovations are radically changing the financial services landscape around the globe.