Impact Investor Omidyar Network Shows Fintech must be more User Friendly
Omidyar Network is studying India to make more investments. The impact investment fund finds India the best region to make such investments outside the US according to a partner at Omidyar, Tilman Ehrbeck. Investments that will contribute towards financial inclusion, (read: fintech) are the apple of their eye. But the fund with a billion dollars dedicated to for-profit investments, isn’t having much luck this year (Omidyar was in the top 5 active investors among India’s offline solutions last year). Contrary to popular belief India is actually slow to adopt fintech.
The report by Omidyar Network titled, “Currency of Trust: Consumer Behaviors and Attitudes Toward Digital Financial Services in India,” focuses on understanding the current context and behaviors of a diverse sample of Indian consumers regarding their digital consumption and readiness for digital financial services on key issues, such as ease of use, trust, and social collaboration. It also offers providers a practical set of recommendations to better reach financially underserved consumers in the country with digital financial offerings.