Third annual global fintech competition celebrates trail-blazing solutions for women's financial inclusion NEW YORK, Oct. 12, 2021 /PRNewswire/ Women's World Banking announced today
/PRNewswire/ Women s World Banking announced today Boost Capital and People s Pension Trust as the winners of its Third Annual Fintech Innovation Challenge,.
/PRNewswire/ Women s World Banking announced today Boost Capital and People s Pension Trust as the winners of its Third Annual Fintech Innovation Challenge,.
In its third year,Â
Womenâs World Bankingâs 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% 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