Five Fintech Solutions For Refugees To Look Out For
By Michal Gromek
Dynamically changing legal situations, language discrepancies, challenges with implementation and application of solutions to verify both identities and authorise transactions have been for years at the core of difficulties to provide financial solutions for newcomers. However complicated the initial compliance challenges might appeal, nature abhors a vacuum to fill this niche market.
Fintech entrepreneurs in this area are providing both solutions towards individuals as well as offer full traceability of financial transactions to Nonprofits or Aid Organisations. Alternative projects range from potential crowdfunding platforms, that allow newcomers to submit business proposals to investors that can either donate, request rewards or purchase shares, to blockchain-based ID solutions that can be used in other jurisdictions.
Photo courtesy of Internews Europe.