In this edition of the faiVLive, with a group of expert panelists from around the world, we delve into the possibilities for FinTech to serve the poor and reduce inequality. Six years after McKinsey heralded “a new era of digital globalization,” what have we learned about when, and where, FinTech meaningfully advances inclusion, and when it creates a new (digital) divide? When does FinTech (in the words of Greg Chen of CGAP) build a bridge and when does it dig a moat?
We also explore how expectations seem to differ from place to place: while FinTech in developing countries is generally presumed to be pro-poor, in wealthier countries there is more skepticism that digital innovations will advance inclusion for the poorest in society. Why is that? What are appropriate expectations of FinTech innovation? Should we be more skeptical of FinTech in countries with large inclusion gaps? Should we be less skeptical of new business models and tech-enabled services in wealthy countries?
Featuring Lois Bruu, Olayinka David-West, Timothy Flacke, Barbara Magnoni, and Tavneet Suri.
Moderated by Timothy Ogden.
Editor's Note:
If you were hoping that the faiV would be a pleasant distraction from the overwhelming flow of AI-related content, sorry. For the record, the faiV had “ai” built in before Anthropic existed. And a housekeeping note: we’ve finally jumped ship from Mailchimp to NYU’s mailing platform—I guess if you’re reading this it’s been a seamless transition and if you’re not, well, you’re not. Feedback on the faiV’s content and format and delivery methods is always welcome, just drop me an email.
- Tim Ogden