For more details visit i3 Program website or contact us at — contactus i3program. The event saw participation from regulators, national payments networks, international payment systems, banks, FinTech companies, payment services providers, merchants, and leading payments solutions providers. The current FinTech landscape and investment trends suggest a growing influence of FinTechs in India.
Growth, however, is concentrated in the metro cities. FinTechs in payments and credit continue to attract the maximum investment.
He noted that while the top of the pyramid is financially well-served; FinTechs have the opportunity to cater to the LMI segments. However, like most incumbents, FinTechs have a limited understanding of the LMI market and its potential.
Mohit mentioned four potential ways in which FinTechs can reach out to the unserved LMI segments and are likely to create a sustainable business model.
This included redesigning products and services from the ground up, developing a phygital distribution channel, building awareness and trust through effective communication, and utilising their core strengths while partnering with incumbents.
He highlighted the importance of client-centricity, innovation, and collaboration to serve the financially excluded segments in India. The event was organised APSCA, which is the industry association for payments and identity in Asia and includes companies from secure smart chip-based and contactless applications to the latest digital payments and digital identity services.
The conference aims to engage government bodies, regulators, industry players and sector experts in the discourse on regulatory frameworks, enablers, and challenges for Financial Inclusion through FinTech. Digital financial services have a huge potential to reach out to the financially excluded sections of society.
With improved infrastructure such as power and affordable data and voice services by telecommunication providers have created a multiplier effect to the policy initiatives taken by the government.
Start-ups and non-traditional organisations riding on innovative models have entered the financial services space. The traditional financial service providers are also learning fast and introducing cutting-edge technology to retain their influence.
With this fast-changing financial ecosystem, Manoj will discuss challenges encountered in fulfilling the potential to deliver inclusive growth. Other panelists for the session are Sh. With robust agency banking systems, BRAC Bank aims to offer high-quality customer service to customers through simpler processes, increased convenience, and ease of access to finance.
New Delhi, Oct MicroSave, in partnership with the Bill and Melinda Gates Foundationis providing technical assistance to enhance financial inclusion in 27 districts, across 8 states, through six key indicators.
Through this programme, MicroSave is working with district administration, bank officials and policymakers to enhance the efficiency and effectiveness of the key financial inclusion initiatives.
The project implementation would enhance the level of access and uptake of selected products for the last mile consumer. Sep A great start for the i3 Program Bangladesh!
MicroSave flagged off the i3 program in Bangladesh at a country launch event in the capital city of Dhaka. The month program receives support from the MetLife Foundationwith MicroSave as the implementer.
The i3 program stands for Innovate, Implement, Impact, and aims to bring meaningful financial inclusion in Bangladesh.
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The initiative seeks to utilize digital technology and uncover the needs, aspirations, and behaviors of low- and moderate-income LMI people.Pay growth for women stops at this age Pay growth for college-educated women suddenly stops at around the age of 40, according to new findings from compensation research firm PayScale.
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Mohit spoke about the potential of FinTechs to serve the low- and middle-income (LMI) segments in India. The current FinTech landscape and investment trends suggest a growing influence of FinTechs in India. The "Better Business, Better World" report shows how pursuing the Global Goals could raise trillions in new market opportunities in ways that extend prosperity to all.