Thursday 29th September 2022
In This Issue
Spotlight on: Fintechs Solving for the Women’s Market
Fifteen fintechs have been selected for the Alliance Hack 2022—the largest pool of competitors we’ve had, which reflects the quality of the field. They’ll embark on a 4-week journey that includes workshops and mentoring sessions, during which they’ll learn from the best. They’ll also receive strong support from our Alliance Hack sponsors: HSBC, Citi, IFC and Equinix. We’ll announce the winners live at the Annual Summit on Nov. 3. We wish all the participants the best of luck.
Our annual hackathon has enabled us to cultivate a small but creative group of fintechs that are building women-centered solutions. Interestingly, when asked by the Global Fintech Festival (GFF) to create a list of fintechs that design for the female economy, we had to draw in large part from this pool. Our report, published for GFF last week in collaboration with FinStep Asia, profiles 25 fintechs who have been particularly successful in adapting their sales funnels to bring more women through. We hope that our research will inspire more Indian fintechs in particular, who make up a large part of GFF’s audience, to better serve women.
Documenting use cases, spreading the word and investing in hackathons are key ways to create more awareness in the fintech sector about the value of the female economy. We’re also keen to partner with like-minded organizations such as CAF, a large development bank focused on Latin America, on their own female economy-focused hackathons. We would like to see many more of these events that stimulate action to advance women’s full financial inclusion.
This month we welcome DigiAlly, a veteran of the 2020 and 2021 Alliance Hack, to our membership. DigiAlly is a B2B fintech working with SME lenders to solve the information asymmetry that can occur between SMEs and lenders. The company creates a “creditability score” using alternative data to complement traditional credit scoring models. In an interview, CEO and Managing Director Shrikant Patil shares its solution and how its mentorship by Alliance members during the 2021 Alliance Hack helped shape it.
Making connections and sharing know-how is what our Annual Summit is all about. Most of our members and partners have already booked their plane tickets, but if not, we encourage all of you to register now, as visa lead times for the UK can be lengthy. And we encourage all of our readers to register to view the proceedings live online.
Finally, we’d like to give a shout out to BAC Honduras, who has just launched its women-centered program, and to the great advances our other members have shared in our network news roundup.