Global Network for Rights and Development

Women's World Banking Announces 2023 Fintech Innovation Challenge to Elevate Fintechs with New Solutions to Close the Gender Gap in Financial Services

Retrieved on: 
Wednesday, August 3, 2022

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- Women's World Banking announced today the 2023 Fintech Innovation Challenge, a global competition to highlight and advance solutions to close the gender gap through digital financial services. Now in its fourth year and the only women-centered fintechs competition, the Challenge will provide a platform for later stage fintechs working to address the persistent challenges in serving the low-income women's market.

Key Points: 
  • Digital financial services can serve as an on-ramp for low-income women to adopt and use a large suite of formal financial products and services, expanding women's choices and their financial and economic resilience and empowerment.
  • Low-income women represent a large, untapped market opportunity for digital financial services providers, particularly fintechs leveraging technology to close the gender gap in financial services.
  • "Participating in the Women's World Banking Fintech Innovation Challenge drove us to learn moredeeply how we can better serve our women customers," said Rachel Freeman, Chief Growth Officer at Tyme, a 2020 Fintech Innovation Challenge Winner.
  • The Grand Prize winner of the Fintech Innovation Challenge will be announced in Dubai, on February 16, 2023 following the pitch competition.

Women's World Banking Announces 2023 Fintech Innovation Challenge to Elevate Fintechs with New Solutions to Close the Gender Gap in Financial Services

Retrieved on: 
Wednesday, August 3, 2022

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- Women's World Banking announced today the 2023 Fintech Innovation Challenge, a global competition to highlight and advance solutions to close the gender gap through digital financial services. Now in its fourth year and the only women-centered fintechs competition, the Challenge will provide a platform for later stage fintechs working to address the persistent challenges in serving the low-income women's market.

Key Points: 
  • Digital financial services can serve as an on-ramp for low-income women to adopt and use a large suite of formal financial products and services, expanding women's choices and their financial and economic resilience and empowerment.
  • Low-income women represent a large, untapped market opportunity for digital financial services providers, particularly fintechs leveraging technology to close the gender gap in financial services.
  • "Participating in the Women's World Banking Fintech Innovation Challenge drove us to learn moredeeply how we can better serve our women customers," said Rachel Freeman, Chief Growth Officer at Tyme, a 2020 Fintech Innovation Challenge Winner.
  • The Grand Prize winner of the Fintech Innovation Challenge will be announced in Dubai, on February 16, 2023 following the pitch competition.