Deadline: September 15, 2022
Applications for the Women’s World Banking Fintech Innovation Challenge 2023 are now open. The challenge identifies and elevates 4 late-stage fintechs pioneering innovative financial solutions that are overcoming persistent challenges to serve the low-income women’s market.
The Fintech Innovation Challenge attracts over 100 fintech applicants from around the world who are developing innovative products to close the gender gap in the low-income women’s market. They are looking for fintechs currently developing innovative products and solutions that meet the needs of low-income women.
Over the past few years, we have seen a dramatic increase in the adoption of digital financial services by women. According to the latest Findex Global Report, for the first time in a decade, the gender gap has shrunk from 9% to 6% in major emerging markets, in part due to more low-income women using digital financial services.
Now is the time to build on this momentum and leverage digital financial services to enable low-income female customers to adopt and use a wide range of formal financial products and services. Low-income women represent a significant untapped market opportunity for digital financial service providers, and fintechs in particular, which can leverage technological innovation to overcome persistent challenges in closing the gender gap. gender in financial services.
The Fintech Innovation Challenge 2023 invites applications from fintechs pioneering innovative financial solutions that overcome persistent challenges to serve the low-income women’s market.
The four finalists and the grand prize winner will be awarded mentorships, custom UX design and investor consultations, membership in exclusive networks, and priority access to fintech events attended by investors and partners from around the world. .
- Invitation to pitch your solution at the Women’s World Banking’s Fintech Innovation Challenge in February 2023 in Dubai as part of the Putting finance at the service of women Summit.
- Invitation to join the Women’s World Banking Global Network, with an additional year of membership.
- Fast-track application to Santa Clara University’s Miller Center for Social Entrepreneurship Accelerator, focused on women’s economic empowerment and climate resilience, which includes:
- Access to a Silicon Valley network of over 300 mentors.
- An average of $750,000 in investments raised 3 years after the accelerator.
- Exclusive pitch consulting session with the Women’s World Banking Asset Management team.
- Priority access to a UX design consultation with an industry expert.
- Invitation to attend the Putting finance at the service of women Summit in Dubai and take advantage of networking opportunities with over 300 leading global players in financial services, fintech and financial inclusion.
Grand Prize Winner
- Priority access to major fintech investor networking events 2023 powered by Elevandi, such as Point Zero, Elevandi Connects and/or the Singapore Fintech Festival.
- Priority access to Women’s World Banking’s global PR firm, Porter Novelli, to help develop a strong media presence and increase visibility and exposure.
- Invitation as a guest speaker at a women’s world bank Putting finance at the service of women thought leadership event.
Circle of Women Founders
- For the first time, they form the circle of founding women. All fintechs founded by women who rank in the Top 12 will be granted automatic membership in this leading group.
- The Female Founders Circle is an exclusive network of fintechs founded by like-minded women who will have full access to Women’s World Banking’s global PR firm, Porter Novelli, helping them reach new levels of visibility and success. exposure.
You must apply if your fintech meets the following criteria:
- You are a fintech that leverages technology to provide financial solutions to underserved and low-income women. Solutions need not be exclusively for women, but must demonstrate a deliberate intent to close the gender gap in financial services.
- Your goal is to serve customers in emerging markets.
- Your fintech is preparing for Series A or later and can demonstrate a minimum viable product and path to profitability.
To apply for the Fintech Innovation Challenge, you must submit an online application by September 15, 2022. The application period closes at 11:59 p.m. EDT.
For more information, visit Fintech Innovation Challenge.