Original Source: Oikocredit 

Oikocredit’s West Germany Support Association spoke to Oikocredit’s Business Development Specialist in Amersfoort, Vincent van Dugteren, to find out.

How important is fintech in the financial inclusion sector, and how is it changing the way Oikocredit operates?

New technologies have significantly changed the financial industry in recent years. Fintech is such a hot topic nowadays, and there’s plenty happening in the sector. Fintech can make processes faster, more efficient and more customised.

Traditional microfinance organisations (the core of our financial inclusion portfolio) are starting to make use of more sophisticated technology to administer the loans they grant. In addition, they are increasingly offering their clients digital payment services such as Mobile Money which enable money transfers to be made by mobile phone, without the need for a traditional bank account.

The development of innovative technologies and highly digitalised processes in financial inclusion has been boosted by new fintech companies in emerging markets.

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