The 2023 Fintech Innovation Challenge is inviting applications from fintechs pioneering innovative financial solutions that break the persistent challenges in serving the low-income women’s market.
Through a highly competitive process, Women’s World Banking’s Fintech Innovation Challenge identifies and elevates 4 later-stage fintechs pioneering innovative financial solutions that break the persistent challenges in serving the low-income women’s market.
The Fintech Innovation Challenge attracts over 100 fintech applicants from around the world who are developing innovative products to close the gender gap in the low-income women’s market.
Women’s World Banking is dedicated towards economic empowerment through financial inclusion to the one billion women in the world without access to formal financial services. Using our sophisticated market and consumer research, we turn insights into real action to design and advocate for policy engagement, digital financial solutions, workplace leadership programs and gender lens investing.
Women’s World Banking is a nonprofit organization that provides strategic support, technical assistance and information to a global network of 55 independent microfinance institutions (MFIs) and banks that offer credit and other financial services to low-income entrepreneurs in the developing world, with a particular focus on women. The Women’s World Banking network serves 24 million micro-entrepreneurs in 32 countries worldwide, of which 80 percent are women. It is the largest global network of microfinance institutions and banks in terms of number of clients, and the only one that explicitly designates poor women as the focus of its mission.
Criteria for the Fintech Innovation Challenge
Leveraging Technology for Women
You are a fintech leveraging technology to provide financial solutions for underserved, low-income women.
Serving Emerging Markets
Your focus is on serving customers in emerging markets.
Preparing for Series A or Later
Your fintech is preparing for Series A or later and can demonstrate a minimum viable product and a path to profitability.
Timeline
– AUGUST 3, 2022: Applications Open
– SEPTEMBER 15, 2022: Applications Close
– OCTOBER 26, 2022: Top 12 Finalists and Female Founders Circle Notified
– DECEMBER 15, 2022: Pitch Day Judges Announced
– JANUARY 9, 2023: Four Finalists Announced
– FEBRUARY 16, 2023: Fintech Innovation Challenge Live in Dubai
Application Deadline: September 15, 2022
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