People’s Pension Trust has been named as one of 12 fintech finalists for the 2020 AFI Inclusive Fintech Showcase. This is the second time the company has made it to the final stage of the competition, having been selected in 2019 as well.
As part of activities towards selecting the top 3 finalists, PPT and other finalists will later this month present to AFI’s membership and a panel of expert judges “their innovative solutions that are helping to address the fallout from the Covid-19 pandemic and that will shape the future of financial inclusion.” This will be held virtually between 26-27th November 2020 due to ongoing travel restrictions amid Covid-19 restrictions.
According to AFI, “First, Second and third placed finalists will be invited to participate in AFI’s Public-Private Dialogue platform and be awarded a one-year membership to Luxembourg House of Financial Technology (LHoFT) which provides practical training, education and research services for the FinTech Community.”
Also “All 12 finalists will have the opportunity to be featured in a special AFI report highlighting how their solutions contribute to financial inclusion and COVID-19 response, which will be disseminated across the AFI network, the financial inclusion community and beyond. Furthermore, finalists will be invited to a special dialogue session with AFI members hosting the Pacific Regional Regulatory Sandbox, the world’s first regional sandbox, and have access to a mentoring and training on pitching to investors and presenting business models provided by LHOFT.”
According to AFI, the finalists who range from multinationals to start-ups where selected from a large number of applications and were also “accessed on their contribution to women’s financial inclusion and closing the gender gap in access to formal financial services.”
According to the AFI’s Executive Director, Alfred Hannig, “The COVID-19 pandemic has challenged FinTech innovators to develop solutions which can provide a lifeline to vulnerable populations at a time of acute economic dislocation. However, valuable learnings and practices developed and implemented prior to the global pandemic are a great foundation for further innovation. We are pleased to receive a strong response to the showcase this year from global innovators with practical solutions to share with AFI’s membership, which translate into significant contribution to a several Sustainable Development Goals (SDGs), such as SDG 1- No Poverty, SDG 5 – Gender Equality, SDG 17 – Partnerships for Goals.”
“With good foundation to further innovate with valuable learnings available from the time before the global pandemic, AFI is looking forward to advancing regulator-innovator dialogue to support enabling policy environment for inclusive innovation,” Dr Hannig added
The 2020 AFI Inclusive FinTech Showcase is an initiative under the 2018 Sochi Accord with AFI’s membership committed to “create and participate in platforms for systemic dialogue and partnership among regulators and policymakers with FinTech companies and technology providers”.
It is supported through AFI’s Multi-Donor Financial Inclusion Policy Implementation Facility (MD-PIF), with participation of French Development Agency (AFD), the German Federal Ministry of Economic Cooperation and Development (BMZ) and the Ministry of Finance of the Grand Duchy of Luxembourg.