People’s Pension Trust and Boost Capital announced as winners of the Third Annual Fintech Innovation Challenge.
The challenge is organized by the Women’s World Banking every year to provide a global platform for fintech companies and startups to present innovative solutions and business models that help build economic security and prosperity for unbanked, underserved women. This year’s competition culminated in a live virtual event to honor both recipients and get a deeper look into their fintech solutions, as well as hear from guest speakers to discuss the role of financial technology in the future of women’s economic empowerment.
CEO and President of Women’s World Banking,Mary Ellen Iskenderian, says they are thrilled to recognize Boost Capital and People’s Pension Trust and their contribution towards women’s financial inclusion. Both companies clearly demonstrate the game-changing potential of fintechs to advance women’s economic empowerment on a broader scale. “Nearly two years into the pandemic, the compounding economic effects of COVID-19 continue to take a disproportionate toll on women. Now more than ever, it’s important to ensure equal access for 1 billion women worldwide who are still excluded from formal financial services, she added.
Fintechs such as Boost Capital and People’s Pension Trust create value in areas where traditional financial service providers have not entered, particularly at the local market level. We trust that this competition’s platform will demonstrate to other fintechs, investors and the wider financial sector that serving low-income women is a unique and profitable opportunity.”
Boost Capital and People’s Pension Trust were selected from a group of four finalists, chosen from a pool of applicants representing 34 countries. They presented their winning solutions to a diverse panel of judges and a virtual audience alongside fellow finalists hive online and Mosabi.
The winners have set out to enable greater economic security and prosperity for low-income women in emerging markets. Boost Capital provides end-to-end digital microlending technology based on innovative chat-style applications, allowing MSMEs in Cambodia to receive both secured and unsecured loans more conveniently and cheaply using smartphones whiles the People’s Pension Trust offers voluntary, flexible and digitally driven retirement products, particularly for informal workers in Ghana, to promote financial inclusion by ensuring they have a better tomorrow.
Boost Capital and People’s Pension Trust receive each, a customized UX design guidance session furnished by Visa Inc., an exclusive pitch meeting and feedback session with the Women’s World Banking Asset Management team, four 1:1 leadership coaching and feedback sessions with one of Women’s World Banking’s executive coaches, and up to $4,000 to be applied towards the cost of any NYU School of Professional Studies continuing education courses or certificates.