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Speculating on the Future of Financial Inclusion: Predictions, Solutions (and Warnings) for the Next 20 Years
We live in extraordinary times: In the next 20 years, futuristic technologies like drones, driverless cars, virtual reality and robotics will transform communities and entire industries. Meanwhile, says MSC founder Graham Wright, breakthroughs in areas like artificial intelligence, big data and mobile connectivity will have a similar impact on financial inclusion. Wright makes some bold predictions, and highlights the trends and technologies that are likely to play important roles in the sector’s development.
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- Finance, Technology
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Four Reasons Kenya’s Economy Might Not Be as Inclusive as You Think
When it comes to building inclusive economic systems, Kenya is often held up as a global standard. And with 73% mobile money penetration and 82% financial inclusion rates, it's easy to see why. But as Brigit Helms at DAI points out, the “Silicon Savannah” isn't always as inclusive as it seems. She explores four reasons why the country is still falling short in serving its most excluded communities and customers.
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- Finance, Technology
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Don’t Fear the Algorithm: The Risks and Benefits Of Machine Learning in Finance
Billions of people around the world lack access to basic financial services, and far too many promising entrepreneurs are deprived of financial opportunities simply because they don’t have a credit history. As JUMO founder and CEO Andrew Watkins-Ball sees it, this lack of access is fundamentally a technology problem – and machine learning can help solve it. But algorithm-assisted banking is not without risks: Watkins-Ball discusses its benefits and downsides, and how it's powering JUMO's work in Africa and Asia.
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- Finance, Technology
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Medical Equipment Graveyards: Three Causes of the Problem – And How Blockchain Can Help
Medical equipment is essential for diagnosing and treating patients. Yet due to inefficiencies and a lack of coordination in donations, much of this equipment sits unused in low-income countries — a situation often referred to as equipment graveyards. According to global health consultant Vikas Meka, blockchain could provide a solution. In this post – the first in a series – he explores three common problems with the current medical equipment donation system, and how a blockchain-driven platform could help.
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- Health Care, Technology
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Managing Money in Retirement is Hard – Fintech May Make it Easier
As many as 42 million Americans aged 50 or older struggle with some aspect of their financial lives, according to new research by the Center for Financial Services Innovation. The new report shows how the work-to-retire model of building savings and paying off debt has been replaced with far more complex scenarios and, for many, delayed retirement. Karen Andres, Vice President at CFSI, sees a solution in fintech – she highlights several apps that leverage tools like prize-linked savings, automated transaction monitoring, and innovative ways to create steady income streams.
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- Finance, Technology
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- financial health, fintech
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The Power of Messaging: How WhatsApp is Becoming a Not-So-Secret Weapon Among Small Enterprises in Emerging Markets
Doing business in emerging markets requires significant and often remote communication – from managing inventory to keeping track of transactions and employees in the field. But though donor-funded digitization efforts often focus on building payments use cases, some of the most needed advancements are happening via existing communications channels like WhatsApp, says Strategic Impact Advisors VP Hamilton McNutt. He explores the innovative ways companies are using WhatsApp – and how messaging apps could better serve their needs.
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- Technology, Telecommunications
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Unpacking NextBillion’s Reader Survey: What the Responses Show – And How They’ll Shape Our Coverage
You likely noticed that NextBillion has been conducting a reader survey over the past few months. But you may not have noticed that the survey recently concluded. In the spirit of transparency – and because we find the results interesting – we’ve compiled some highlights from the 500+ responses. We also share our initial reactions to this reader feedback, and discuss how this survey data might impact new editorial directions on the site.
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- Finance, Social Enterprise, Technology
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Preparing Students to Launch: What Needs to Happen on the Ground to Get Social Enterprises Off the Ground?
Social entrepreneurship is a relatively new field that’s attracting a new type of business leader, and educational approaches to it need to be nimble and inventive. Amy Gillett, Vice President of the Education sector at the William Davidson Institute, chronicles a different type of immersive education – one that brought together more than 400 students in the U.S. and Middle East/North Africa through a “virtual exchange.” The students designed more than 70 businesses - many of which will not be virtual - to tackle real-world challenges.
- Categories
- Education, Social Enterprise, Technology
- Tags
- business education, edtech