Ripple Swell has been focused on creating some new revolutionary pathways to transform the already existing financial system in terms of financial inclusion. They are doing all it takes to make access to financial services possible for the unbanked.
Ripple Insights have published about Mercy Corps who have been leveraging the potential of the Fintech to accelerate Financial Inclusion in the emerging markets.
Financial inclusion should be thought of as something that is required beyond the wealthy nations. The current financial system is broken, poorly designed, and antiquated. Financial service providers tend to overlook how broken and fragmented that the current system is, thereby making it impossible to serve the needs of many in the emerging markets. There is only an increase in the number of people without access to financial services.
Unbanked Adults have a very difficult time to make their way to the employment or commercial market. Ripple Impact are trying to make it possible for them to leverage the promise facilitated by financial technology.”
Sydney Ifergan, the crypto expert tweeted: “Ripple (XRP) through Ripple Swell are empowering economic growth globally by making possible financial inclusion for unbanked adults.“
Vulnerable population needs help in terms of creating economic opportunities. New and innovative technology can be leveraged by making it possible for them.
RippleWorks, which is a non-profit founded by Chris Larsen looks at social ventures in different sectors as requiring support solutions, trying to provide them access to financial services, thereby making it possible for them to leverage digital financial technologies. This has been planned as a 3-year initiative.
Reportedly, Ripple are currently working with Mercy Corps Ventures to invest in early stage fintech startups thus moving ahead with pilot projects that leverage innovative fintech – at the same time providing opportunities for the unbanked to leverage financial technology.
Scott Onder, Senior Managing Director at Mercy Corps Ventures, stated, “We are going to leverage our global resources and reach to ensure community voices are heard and vulnerable populations are not left behind in the fintech revolution. “
The partnership with Mercy Corps Ventures is a very important step in Ripple’s long-term commitment to achieving global financial inclusion. Further, more of such partnerships will help collaborate with lot of other innovators like Mercy Corps to integrate the Ripple expertise of building financial products this improving their network of mission-driven entrepreneurs. The current partnership is focused to reach about 10 million people in the next decade.
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