Fintech has taken the financial services industry by storm, and its impact is only growing. This fast-paced and dynamic space continues to disrupt and redefine how financial services are provided. One major area of innovation in fintech for social good. It aims to create systemic change by leveraging the power of technology, and it is growing rapidly. Social impact fintech is helping to drive financial inclusion, lower the cost of financial services for underserved populations, and create more sustainable and equitable systems. The global financial crisis (GFC) has shown just how much is at stake if we do not find sustainable solutions to our global society’s financial challenges. Here, we explore the impact of systemic change, the drivers of systemic change in fintech, and how social impact fintech is working to foster systemic change.
- Disrupting Ecosystems with Technological Innovations
Philip Belamant believes that technology is a force for positive change that has the power to transform financial services in the way we live, work, and interact. He believes that technology can help reduce the cost of financial services for underserved populations and create more sustainable, equitable systems. Fintech ventures have the potential to disrupt financial services ecosystems. Philip Belamant believes that fintech innovation can help create sustainable and equitable systems, but it must be holistic. This means developing technology and working to ensure that the technology is used fairly and equitably.
- The Convenience of Borrowing Airtime
Philip Belamant believes that one of the most important advantages of fintech is the convenience it provides. For example, for many people, cash is not an option. What if you need to go to the hospital in an emergency? You may not have the cash to pay for your medical expenses. In this case, a fintech solution such as a mobile airtime top-up can provide you with the funds you need to cover those expenses.
Original source to learn more: https://medium.com/@philipbelamant