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Fintech

Venio has big ambitions for nano-credits to the unbanked

Rather than just handling payments, one mobile-phone technology entrepreneur wants to extend small lines of short-term credit to the financially excluded.

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The Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School, together with the World Bank Group and the World Economic Forum, launched a survey during the second half of July into the impact of Covid-19 on the global fintech market.

While fintechs seek opportunities to scale and expand, as the digitalization of financial services accelerates in the wake of the coronavirus pandemic, the researchers’ aim is to collect data from 15,000 fintech firms and digital financial services providers in over 190 jurisdictions to inform evidence-based regulation, policy and business decision-making,



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Ana Fiorella Carvajal,
World Bank Group
 

“Fintech and digital financial services play a vital role in extending the reach of, and widening the access to, financial services – especially for millions of underbanked or unbanked people,” says Ana Fiorella Carvajal, lead financial sector expert at the World Bank Group. “There is an urgent need to undertake this rapid assessment study to see how public and private sectors can work together to ensure the continued delivery of digital financial services to some of the poorest and most vulnerable populations in the world.”




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