World's Women Banking (WWB), US-based gender inclusiveness investment firm in partnership with Singapore Fintech Festival, recently opened applications for fintech startups focused on women in emerging markets.
The program tagged "Fintech Innovation Challenge 2020" is aimed at "identifying with fintech innovations providing unbanked and underserved women with access to financial services in order to build their security and prosperity in the face of these global economic uncertainties."
Interested startups are allowed to apply under two categories:
- Solutions that enable unbanked and underserved women to build resilience through convenient, secure, and reliable access to safety nets (i.e. funds for emergencies) to help mitigate against global shocks; and
- Solutions that enable unbanked and underserved women to expand their income-generating activities to build their business and household income and support economic recovery after global shocks.
Eligibility also depends on startups' ability to prove inclusiveness through the presence of women in their senior management team and Board of Directors.
Startups that are not currently focused on unbanked women will also have to express their intentions to include the said segment in the future.
Similar to the first edition of the challenge in 2019, two finalists will have the opportunity to present their solutions on global stages during events scheduled for October and November 2020.
This will increase the startups' access to grants, connection to potential investors, as well as a year complimentary membership badge in the World's Women Banking Global Network, among others.
Applications are opened till June 15.
WWB has a background of investing in financial solutions, institutions, and policy environments in emerging markets, usually in partnership with other global corporate institutions in Africa, Asia, MENA nations, Europe, and the Caribbean.