As the world grows ever more connected, access to financial tools has expanded dramatically. Today, 79% of adults worldwide have a bank account, an increase from 51% in 2011. This is a remarkable gain.
What does it take to serve the nearly three billion people around the globe who lack safe and secure financial services? Visa, MetLife Foundation, global nonprofit Accion and World Bank Group member IFC aim to find the promising fintechs addressing this question through a new initiative, the Inclusive Fintech 50, which will honor 50 fintech startups committed to improving the financial health of disadvantaged people in advanced and emerging markets.
Spanning nine countries in disparate regions, the “Dream, Save, Do” initiative has helped children and the adults in their lives set goals, aspire to reach them, make plans, and understand that the choices they make every day can help them achieve their dreams.
Collectively, more than $14.3 million has been invested across all 50 states providing over 2.7 million children with daily access to fresh fruits and vegetables.
Ten years ago, 85 percent of the world’s transactions were in cash and checks, and 2.5 billion people were unbanked. Since then, we’ve all been working hard as an industry to develop technology that will give the unbanked access to the world of digital payments.
Anyone following tech news these days understands that the coexistence of artificial intelligence (AI) and mankind – and the ethical conflicts that may arise from it – is no longer science fiction. There is unease about AI influencing our online shopping and social media habits; about it replacing both menial and high-skilled jobs; enhancing surveillance and policing, and contributing to the development of more sophisticated weapons.
Fishermen in Madagascar spend several hours a day on their pirogues (fishing canoes) out at sea. In the past, they would return home with baskets brimming with fish. But today, catch sizes have dwindled due to overfishing, rising sea temperatures and extreme weather.
I examine my personal finances by asking myself three overarching questions: How am I making money? How am I investing it? And how am I spending it? As a full-time social entrepreneur, I routinely ask myself if I’m making money in a way that allows me to have a real impact.
As a millennial, my generation has little trust in large institutions — from governmental offices to our large banks and financial institutions. We want our money aligned with our values and desires for a more sustainable planet. We are poised to catalyze big shifts in how financial services operate.
The International Organization of Securities Commissions (IOSCO), the international body that brings together the world’s securities regulators, published their Statement of Disclosure of ESG Matters by Issuers on 18 January 2019. With the statement, IOSCO recognizes the importance of considering Environmental, Social and Governance (ESG) information as material for investors.
The Technical Expert Group on Sustainable Finance set up by the European Commission in July 2018 has published its first report on companies' disclosure of climate-related information in January 2019.
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