‘Fintech can transform Asia’s women entrepreneurs’

Wednesday, October 17, 2018

By Melanie Sison

A new initiative by the UN’s Economic and Social Commission for Asia and Pacific (ESCAP) to remove barriers to the growth of women entrepreneurs focuses on providing them access to financial technology or fintech. The initiative is expected to benefit 20,000 women entrepreneurs in six countries of the region.

“Women-owned micro, small and medium enterprises have the greatest potential to benefit from ICT as these technologies can help them overcome the typical barriers to expansion and growth,” Hongjoo Hahm, officer-in-charge of ESCAP, tells SciDev.Net. Fintech competes with traditional financial methods by using technologies such as smartphones and the Internet to better access financial services such as banking and investment.

Photo courtesy of pixelfusion3d.

Source: SciDev.net (link opens in a new window)

financial inclusion, fintech, global development