Leveraging modern payment platforms for accelerating social impact
As of June 2015, the UN estimated that there are 60 million refugees across the world. Twice the population of Canada and 80% equivalent of the population in the UK. Refugees present unique problems because they are financially excluded as there are no formal banking services available to refugee populations. This exclusion happens for a variety of reasons: legally by statelessness; physically by geography (a camp for example); or for lack of government issued ID in the host country which prevents opening a bank account. They are the poorest of the poor – the most unbankable of the unbanked. Surprisingly, they appear to be uniquely ignored in global financial inclusion programs and research studies.
Together with the financial institutions and modern innovative payment platforms and innovation, we will explore how we can accelerate social impact for refugee populations by devising or applying financial technology to refugee situations.