Browsing: Fintechs

• In developing countries, fintechs are particularly responsible for social impact as there are often wider gaps to fill.
• Fintechs have the power to do good, but for a company to label itself ‘for good,’ this must be a key business priority.
• However, when it comes to dealing with investors and board members, fintech leaders must balance their social impact ambitions with profitability, useability and affordability.

Positive social impact is often only associated with governments or NGOs, organisations which are doing good without the motivation of profit or brand. However, fintechs are oftentimes uniquely positioned to solve social issues through providing access to services, improved user experience and education.

Using various fintech products, consumers can gain a better understanding of their financial situation. Products like savings pots, investment platforms and as well access to loans can all lead to financial freedom for those without it.

In developing countries, fintechs are particularly …