Best Under-banked or Emerging Market Solution

  • Airfox

    http://airfox.io

    Airfox provides the unbanked and underserved in emerging markets with access to financial services and capital. This is made possible thanks to revolutionary blockchain technology that facilitates the transfer of mobile airtime and currency, payments for goods and services, and a peer-to-peer microlending program—all with minimal friction and fees.

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  • BeamAndGo Pte Ltd

    https://www.beamandgo.com

    BeamAndGo is FinTech and eCommerce Marketplace that connects overseas Filipino workers (OFWs) with merchants in the Philippines. With our solution, OFWs can take care of their families in the Philippines without having to remit cash.

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  • BONDAREA

    http://www.bondarea.com

    BONDAREA is a platform of integrated services for financial inclusion, combining ERP (BOCS) and Marketplace Lending (B-Lending) solutions.

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  • Braviant Holdings

    https://www.builtinchicago.org/company/braviant-holdings

    Braviant Holdings is a Chicago-based fintech company that uses advanced analytics and proprietary technology to develop faster, smarter credit solutions. Our suite of financial products, including Balance Credit and Chorus Credit, is transforming how people access credit online by streamlining the borrowing process and creating a path toward a better financial future. Braviant's rapid growth since inception is a testament to the company's proven ability to leverage innovative big data and machine learning techniques to better meet the needs of the underbanked. Braviant has achieved 3x growth in year-over-year loan originations while also bringing down the average cost of credit by 20%. Our ultimate vision is to create a bridge that will take underserved consumers from non-prime to prime.

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  • Cashaa

    https://cashaa.com/

    The next generation banking platform for the next billion

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  • Certn

    https://certn.co

    Certn was started because of an identified lapse where standard credit reports were not properly servicing clients while making decisions around risk. FICO estimates that over 3 billion consumers globally could gain access to credit at affordable rates if there was a better mechanism to better assess their ability and willingness to repay debt. At Certn we're here to help those with thin credit (students, new immigrants, small business owners, etc.) provide alternative data to gain access to credit. We use data points from over one hundred thousand sources to not only look at the past but, for the first time, leverage data science to predict the future. Enabled by machine learning and AI, Certn uses an applicant’s behavioral character, risk relevant events, and financial capability to provide the most comprehensive and predictive toolkit on the market today.

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  • clinicPesa Ltd

    https://clinicpesa.com

    clinicPesa provides access to healthcare financing to the uninsured in East Africa.It was founded in the year 2016 and incorporated in the year 2017 with innovation, quality and client affordability as our primary goals, we aim at enabling the East African Community develop a health saving discipline and culture by leveraging on existing mobile money platform in order to attain peace of mind. We also eliminate delays in payment processing for healthcare facilities so that they can operate smoothly and focus on delivering high quality service to the people of East Africa.

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  • CommuScore

    http://commuscore.com

    We provide an alternate credit score for the underserved in the informal market to enable access to fair finance.

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  • CreditStacks

    http://www.creditstacks.com/

    Credit card company issuing American credit cards to high earning relocators without a credit history

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  • Eastpesa Limited

    http://www.eastpesa.com

    Eastpesa delivers instant money remittance services anytime, anywhere to mobile money and bank accounts in East Africa. We are changing remittance in Africa with a strong focus on the African diaspora.Our clients can remit money instantly to Kenya,Uganda ,Tanzania and now Rwanda. Transfers are made using Credit and Debit cards and also mobile money MPESA, Airtel, Tigo, MTN and Equitel).

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  • Elevate

    http://elevate.com

    Elevate is a leading provider of responsible credit products to those who are often overlooked€� high-risk, nonprime consumers. Today, 160 million Americans are nonprime, underserved by traditional credit providers and left with very few affordable options. Banks, credit cards, and other traditional credit providers do not serve nonprime consumers, those with credit scores under 700. Often, this demographic of hard-working Americans have been limited to securing high-cost short-term credit from pawn shops, title loan companies, and payday lenders. Instead of closing this gap, most online lenders have poured innovation into serving prime customers already swimming in credit. Elevate decided to take the road less traveled. We use advanced technology and proprietary risk analytics to provide more convenient, responsible and transparent financial options that solve nonprime consumers' immediate financial need and provide the tools and information needed to help them improve their financial futures. Elevate, in 2016, launched the Center for the New Middle Class, a research arm that regularly conducts and releases studies on the growing segment of middle-class Americans living in nonprime households, including the nearly half of all Americans who would not be able to cover an emergency expense of $400 or more. These are not reckless spenders - these are our neighbors, friends and colleagues, hiding a volatile financial reality underneath carefully maintained appearances. Elevate has deemed this sector €œthe New Middle Class€� and, instead of just working to define this group of Americans, we are working every day to help them be, €œGood Today, Better Tomorrow.€�

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  • Experian MicroAnalytics

    http://www.e-microanalytics.com

    Experian MicroAnalytics specializes in helping people in emerging markets create financial identities using alternative data. Financial identities lead to greater access to finance and help fuel economic development, stimulate growth and improve quality of life. Created in 2010 to solve the “thin file” problem in regions lacking consumer access to credit, Experian MicroAnalytics provides the data solution needed to help people create progressively stronger financial identities. The key data source used is mobile behavioral data. Across Latin America, Asia and Africa, many individuals have access to mobile phones, yet few have access to financial services. Gathering this data, financial identities are created, providing access to an initial set of financial products such as prepaid airtime credit, an important product since most mobile users in emerging economies run out of prepaid balance several times per month. Anytime a mobile user needs airtime, credit can be accessed instantly, and observing the user’s interaction and repayment patterns, stronger financial identities are created. Over time, additional financial products are available, such as handset finance, personal loans and more, all available via a fully digital process.

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  • FidyPay

    http://www.jambopayexpress.com/

    We are connecting Bharat (Rural & Semi Urban Population) to India (Digital Economy) for various Financial & Payment Services using our offline and online platform.

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  • Finn.ai

    http://finn.ai/

    Finn.ai is an award-winning, AI-powered virtual assistant built for banking and personal finance.

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  • Have Need, Inc. (have|need)

    https://haveneed.org

    We all have things we don't need and need things we don't have. have|need connects the dots to help us all get what we need.

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  • Humaniq

    https://humaniq.com/

    Humaniq is a new generation financial services with its own cryptocurrency, which is aimed at eradicating poverty amongst millions of people living in the emerging economies.

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  • ID Finance

    https://idfinance.com/

    Founded in 2012 and now headquartered in Barcelona, ID Finance is one of the fastest growing online lending companies globally focused on emerging markets. It has operations in seven countries (Russia, Spain, Poland, Georgia, Kazakhstan, Brazil and Mexico) and has been recognised as a unicorn of tomorrow by London investment bank, GP Bullhound. The company is leveraging the growth of mobile internet and availability of data to provide access to competitive and transparent financial services, and address the massive structural demand for credit unmet by incumbents. ID Finance's proprietary and fully automated scoring technology uses data science and machine learning to determine loan eligibility. It takes a Big Data approach working with a number of partners – from traditional credit scoring agencies to mobile operators, utility companies and social media platforms. The Company also gather geolocation data as well as behavioural data such as typing patterns. All of this helps to measure creditworthiness as well as identify fraudulent applications. And the more applications processed, the better risk management technology performs. Of course, ID Finance is mindful of privacy concerns and it anonymise the data to protect the customers. ID Finance is pioneering fintech innovation in many of these markets. The Company has built the digital finance infrastructure for balance sheet lending in seven countries in less than five years. IDF can now reach profitability within a year of launching into a new territory. Despite processing 100% of loan applications in real time, ID Finance also have one of the best performing risk management systems in the industry thanks to our advanced data science capabilities. While The Company is growing aggressively, wit also practice responsible lending and it is in constant dialogue with the regulators and central banks. ID Finance aims to be the biggest non-bank lender in Brazil by the end of 2019, and worldwide as well. The Company plans to raise $170m from bond issuances to support our growth, with the aim of being in 12 countries including Colombia, Peru and the U.S. by 2021.

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  • LenddoEFL

    https://include1billion.com

    LenddoEFL’s mission is to provide 1 billion people access to powerful financial products at a lower cost, faster and more conveniently. We use AI and advanced analytics to bring together the best sources of digital and behavioral data to help lenders in emerging markets confidently serve underbanked people and small businesses.

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  • MoneyLion

    https://www.moneylion.com/

    MoneyLion is a leading mobile finance platform that empowers consumers to take control of their financial lives through better products for borrowing, saving, and investing. Founded in 2013 by a team of leading technologists and financiers, MoneyLion uses superior analytics and machine learning-based technology to gain a 360-degree view of its users’ personal finances, enabling uniquely personalized advice and underwriting. The company has made significant progress toward its goal to digitally rebundle consumer financial services. MoneyLion’s most recent milestone was the launch of MoneyLion Plus in late 2017. MoneyLion Plus combines guided savings, simple investing, access to low-cost loans (5.99% APR), and personalized PFM tools and recommendations, bringing private-banking style services for the financial middle class for the first time. The company has grown to over 2 million users and has raised $67 million in equity funding.

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  • Oakam

    http://www.oakam.com

    Oakam is a UK-based digital micro-lender that provides straightforward, simple credit products to consumers who find it difficult to borrow from banks due to poor or no credit history. Since 2006, Oakam has used the growing accessibility and analytical power of smartphone technology to disrupt the UK’s antiquated, opaque micro-lending industry, making credit cheaper, fairer and more accessible for the country’s 12 million overlooked consumers. Oakam’s mobile-first approach has enabled the micro-lender to capture, interpret and use alternative data in credit scoring, underwriting, risk management and customer engagement, to bring more people into the formal financial system and on the path to prosperity. Today, Oakam has provided over 420,000 loans totalling over £320 million to consumers overlooked by mainstream financial institutions.

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  • PayActiv

    http://www.payactiv.com

    The FinTech (Financial Technology) world is powered by cleverly devised software that hunts ruthlessly for return (like, say, the Terminator-the software never gives up). It is not a singular effort, but a combined one, through PayDay Lenders (the most reviled, but a smaller player) to Credit Card companies, Banks ($25 Billion annually in overdrafts), Title Lenders, Debit Card issuers, Gift Card issuers, Cellphone Carriers, Auto Lenders, and even Landlords. That combined FinTech effort creates what we call a FinTax on low to moderate income (LMI) families living paycheck to paycheck. An average of $1,200 per year, per family, that goes out of circulation and into the financial system. A very heavy tax on a net income that can be as low as $15,000. Even aside the human cost, this financial tax generates tremendous losses of productivity for businesses of all sizes. 1 in 5 financially stressed employee misses work, over 75% increase in sick days or doctor visits, approximately 20% of hourly workers with financial troubles end up switching or losing their jobs. So, companies that hire LMI workers, like Walmart, McDonald's, Comcast etc., are paying a heavy price for FinTax too! In fact, studies show that over 69% of LMI workers say they leave a job because of low pay. Ironically, the impact of FinTax on take-home pay is roughly 10% and the raise needed to cut costly exits by employees is 10%!! PayActiv levels the playing field with its revolutionary invention, a completely new product, a 'loan-less advance'  to employees, through employer-partners. Employees who are struggling with 'between paycheck' financial issues get all the benefits of a PayDay loan timely access to cash, without the pre-requisites and excessive costs of a PayDay loan, underwriting, debt, interest, fee-trap cycles. PayActiv is a quantum improvement in between-paycheck financing (a $60 Billion U.S. market), that provides freedom from tough (expensive, often predatory) lenders. The system offers improved financial health and security, and a new form of access to banking services. For employer-partners, PayActiv is a game-changing financial wellness solution for their employees, improving retention, recruitment and engagement and productivity. Simply by floating the timing of take-home-pay.

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  • Prepaid Financial Services Limited (PFS)

    https://prepaidfinancialservices.com/en/

    Inspired by a deep desire to continue to champion social responsibility in 2017, Prepaid Financial Services was able to help over 6,000 refugees and migrants in Greece in partnership with the International Federation of Red Cross and Red Crescent Societies (IFRC) and the local Hellenic Red Cross.

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  • Propelld

    http://www.propelld.com

    Propelld provides a platform where high quality student borrowers, taking short term skilled courses, from pre-vetted courses and Institutes, can avail of flexible tuition financing options from our lending investors.

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  • Self Lender, Inc.

    https://www.selflender.com

    self lender helps you start your financial journey

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  • Teller

    https://helloteller.com

    Teller's financial services help freelancers combat income volatility

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  • The Mifos Initiative

    http://www.mifos.org

    The Mifos Initiative is a 501(c)3 non-profit and global community dedicated to ending poverty one line of a code at time. We have been pioneering open source banking technologies for the past 15 years, transforming the entire sector at each major stage of evolution from microfinance to financial inclusion to digital financial services. Originating as a project within the Grameen Foundation, we’ve grown into an independent 501(c)3 non-profit, a top-level project of the Apache Software Foundation, and a vibrant ecosystem of more than 100 fintech companies, local partners and volunteers building digital financial service innovations. More than 8 million clients are reached by 300+ financial institutions across 41 countries using solutions powered by Mifos X and Apache Fineract. Core to our mission and fundamental to banking the unbanked is openness - open source technology, open collaborative communities, and open standards all which fuel sustainable innovation that scales.

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  • Vayana Network

    http://www.vayana.com/

    The Micro Small & Medium Enterprise (MSME) sector is a key contributor to a country’s economy and is one of the largest employment enablers. In India, over 48 million active MSMEs across manufacturing and services sectors contribute approximately 37% to the country’s GDP. One of the major challenges faced by this sector is the lack of easy access to financing options. Issues like inconvenient processes and expensive working capital financing are unaddressed. This has resulted in a huge unmet demand with a USD 450+ billion Trade Financing credit deficit for small to large organizations in India. Vayana Network aims to democratize the access to Trade Finance to the smallest of enterprises in the country. We design tailor-made, affordable, closed loop programs to meet the financing demands of businesses and their supply chain partners with simplicity and speed. We provide easy, digital access to low-cost financing to every enterprise – from large corporations to MSMEs – to help manage their working capital, grow business and create employment.

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  • Yellow Card Financial

    https://yellowcard.io

    Yellow Card is a digital currency exchange for the unbanked cash market.

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  • Zazu Africa

    http://ilovezazu.com

    The helpful debit card for everybody. Helpful = Inclusive You can use Zazu with a smartphone or feature phone. You don’t need to visit a bank, ever. And you don’t need a degree to understand what’s happening with your money.

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