Women’s World Banking has announced People’s Pension as one of two winners for its Third Annual Fintech Innovation Challenge. The challenge is part of the organization’s Making Finance Work for Women Thought Leadership Series. Each year, the challenge provides a global stage for fintechs to present innovative solutions and business models that help build economic security and prosperity for unbanked and underserved women.
Boost capital was the other winner in addition to People’s Pension, out of four top finalists selected from a pool of applicants from 34 countries. The two organizations in presenting their solutions showed that they have set out to enable greater economic security and prosperity for low-income women in emerging markets, each addressing a specific issue.
This year’s competition culminated in a live virtual event to honour People’s Pension and Boost Capital, get a deeper look into their fintech solutions, and hear from guest speakers to discuss the role of financial technology in the future of women’s economic empowerment.
As a winner, People’s Pension receives a slate of prizes, including a customized UX design guidance session furnished by Visa Inc., an exclusive pitch meeting and a feedback session with Women’s World Banking Asset Management Team, four 1:1 leadership coaching and feedback sessions with one of Women’s World Banking’s executive coaches, and up to $4,000 to be applied towards the cost of any NYU School of Professional Studies continuing education courses or certificates.
Also, as one of the top four finalists, People Pension won a handful of prizes which includes a one-year complimentary membership into Women’s World Banking’s Global Network, priority access to WWB’s Gender Assessment Methodology, which helps institutions become a brand and employer of choice for women, complimentary tickets to the Making Finance Work for Women 2022 Summit and a virtual experience of Visa Inc’s Dubai Innovation Center, where we will be part of an immersive experience in the future of payments furnished by Visa Inc.
Speaking after the winner announcement, Saqib Nazir, CEO of People’s Pension, thanked the Women’s World Banking for the recognition and reiterated the company’s commitment to innovate through technology, behavioural science and artificial intelligence to meet the need and expectations of its members, particularly women.
Mary Ellen Iskenderian, President and CEO of Women’s World Banking, announcing the winners, said, “We are thrilled to recognize Boost Capital and People’s Pension Trust and their contribution towards women’s financial inclusion. Both companies clearly demonstrate the game-changing potential of fintechs to advance women’s economic empowerment on a broader scale.”
She added that “Nearly two years into the pandemic, the compounding economic effects of COVID-19 continue to take a disproportionate toll on women. Now more than ever, it’s important to ensure equal access for one billion women worldwide who are still excluded from formal financial services. Fintechs such as Boost Capital and People’s Pension Trust create value in areas where traditional financial service providers have not entered, particularly at the local market level. We trust that this competition’s platform will demonstrate to other fintechs, investors and the wider financial sector that serving low-income women is a unique and profitable opportunity”, she added.
People’s Pension and Boost Capital presented their winning solutions to a diverse panel of judges and a virtual audience alongside fellow finalist’s Hiveonline and Mosabi.
People’s Pension Trust offers voluntary, flexible, and digitally driven retirement products, particularly for informal workers in Ghana, to promote financial inclusion by ensuring they have a better tomorrow. Read more about us at www.peoplespension.global
