Women’s World Banking Fintech Innovation Challenge 2021: Apply by 11th June

Applications are invited for the Women’s World Banking Fintech Innovation Challenge 2021.

About the Challenge

In its third year, Women’s World Banking’s Fintech Innovation Challenge offers a worldwide stage to focus on Fintech improvements serving unbanked and underserved ladies to be able to construct their safety and prosperity within the face of worldwide inequalities.

Despite years of progress in advancing monetary inclusion, almost 1 billion ladies all over the world nonetheless stay excluded from formal monetary providers, and there’s a persistent 9% gender hole throughout rising markets.

Moreover, the financial toll of COVID-19 has fallen disproportionately on women, exposing their explicit vulnerability to international shocks. While the pandemic has accelerated the digitization of economic providers, low-income women stay liable to being left behind given the distinctive limitations they face to the adoption and utilization of digital monetary providers.

Combined with broader inequalities for women resembling rising unemployment, disparities in entry to healthcare, and the consequences of local weather change, it’s more crucial than ever that gender equality is in the middle of restoration and development.

Categories

Fintechs should submit options in both of one among two classes:

• Build Security and Resiliency: How would possibly we allow unbanked and underserved women to construct resilience via handy, safe, and dependable entry to security nets to make sure better equality in a post-COVID-19 world?
• Build Economic Prosperity: How would possibly we allow unbanked and underserved women to construct their enterprise and family earnings and drive financial development to make sure better equality in a post-COVID-19 world?

Prizes

Finalists Receive

• Invitation to current at Women’s World Banking’s digital Fintech Innovation Challenge in October 2021, a part of the brand new Making Finance Work for Women Thought Leadership Series.
• Digital expertise of Visa Inc’s Dubai Innovation Center, the place you can be a part of immersive expertise in the way forward for funds furnished by Visa Inc.
• One-year complimentary membership into Women’s World Banking’s Global Network.
• Receive precedence entry to our Gender Assessment Methodology, Women’s World Banking’s proprietary method to serving establishments turn into a brand and employer of alternative for ladies. The method entails your establishment finishing an internet questionnaire adopted by a session name with our staff to focus on alternative areas to advance ladies’ expertise in your group and higher serve women prospects.
• Complimentary tickets to the Making Finance Work for Women 2022 Summit.

Winners Receive

• The Fintech Fueler Package:
  • Customized UX design steering session furnished by Visa Inc.
  • Exclusive pitch assembly and suggestions session with Women’s World Banking Asset Management Team.
  • Four 1:1 management teaching and suggestions periods with one among Women’s World Banking’s govt coaches.
• An assured spot as a featured speaker at a Making Finance Work for Women 2022 occasion.

Who Should Apply?

• Startup Fintechs based mostly wherever which can be leveraging technology to offer monetary providers for unbanked and underserved ladies in rising markets. Solutions don’t must be completely for unbanked and underserved ladies however should present deliberate intent to be inclusive of reaching the section.
• Fintechs also needs to exhibit a dedication to growing ladies leaders via the presence of girls of their senior administration staff and Board of Directors.
• Solutions ought to deal with constructing women’s safety or prosperity, notably in supporting resilience and restoration from international financial shocks.
• Applicants may be pre-revenue however should exhibit a viable worth proposition to achieve unbanked and underserved ladies.

Selection Criteria

Relevance & Reach

• How many unbanked and underserved women does the answer attain?
• What methods are being deployed to achieve unbanked and underserved ladies?

Innovation

• How does the answer tackle systemic limitations for unbanked and underserved ladies in a novel and differentiated approach out of your opponents?

Empowerment

• What is the specified long-term impression of this answer? Is there an imaginative and prescient to drive in direction of women’s financial empowerment?
• How will the long-term impression be measured?

Sustainability

• Does the enterprise mannequin exhibit a path to monetary sustainability?

Scalability

• What is the technique for development, and the way this answer will scale throughout markets?

Gender Diversity

• How is the establishment selling gender variety and inclusive management inside the group?

Responsibility

• Does the answer deal with using the greatest practices in shopper safety and transparency?

How to Apply?

Interested candidates can apply for the problem via this link.

Important Dates

• May 6: Applications Open
• June 11: Application Deadline
• Mid-July: Shortlist Candidates Selected for Interviews
• Early September: Finalists Announced
• October: Winners Announced

Contact

Email: [email protected]

For more details, click on the link beneath.

Women’s World Banking Fintech Innovation Challenge 2021

Check below for more similar opportunities: