This episode of Fintech for the People is focused on the critical research around risks and bias in AI, explaining the importance of equitable AI and its impact on the financial ecosystem. Our guest, Alexandra Rizzi, Senior Research Director at the Center for Financial Inclusion, shares insights about various challenges, including bias and contextual differences, emphasizing the need for inclusive outcomes in financial decision-making processes. She highlights scenarios where seemingly neutral AI models may inadvertently perpetuate biases, underscoring the importance of understanding the context and nuances of different markets.

Exploring mitigation strategies, Alexandra Rizzi outlines a three-step approach focusing on understanding AI usage, identifying biases, and evaluating outcomes. She emphasizes the need for
ongoing monitoring and governance mechanisms to address harmful biases effectively. Moreover, Alexandra sheds light on collaborative efforts involving stakeholders such as investors, operators, and regulators in refining ethical AI practices.

To learn more about the Center for Financial Inclusion, visit their website and download their report on Equitable AI for Inclusive Finance. And learn more about Accion Venture Lab on LinkedIn and X (Twitter).

In this episode of Fintech for the People, Amee Parbhoo, Managing Partner at Accion Venture Lab, sets the stage for a deep dive into four key areas where AI can empower fintech companies to expand the reach and effectiveness of financial services to underserved populations: compliance, credit decisioning, customer engagement, and workflow optimization.

Starting with compliance, Amee discusses how AI streamlines customer screening and KYC compliance for thin-file or no-file customers with Ashok Hariharan, CEO of IDfy. Next Amee interviews Benjamin Njenga, Co-founder and Chief Customer Officer of Apollo Agriculture, who shares the insights on implementing AI in credit decisioning and underwriting for smallholder farmers in Africa. Later, Ananth Gudipati, Founder of Sukhiba, joins to discuss AI's role in customer engagement, particularly using conversational commerce for small retailers and wholesalers in Africa. Lastly, Amee Parbhoo talks to Nicolas Yepes, Co-founder and COO of Moffin, offers perspectives on using AI to optimize backend workflows for financial institutions.

00:00 – 13:40 – Ashok Hariharan, CEO of IDfy

13:40 – 24:30 - Benjamin Njenga, Co-founder and Chief Customer Officer of Apollo Agriculture

24:30 – 36:40 Ananth Gudipati, Founder of Sukhiba

36:42 – 44:25 Nicolas Yepes, Co-founder and COO of Moffin

To learn more about IDfy, Apollo, Sukhiba, Moffin, please check their websites.

And learn more about Accion Venture Lab on LinkedIn and X (Twitter).

In this episode of Fintech for the People, host Amee Parbhoo, Managing Partner at Accion Venture Lab, speaks to Jimena Pardo and Federico Antoni from Hi Ventures about the transformative role of AI in fintech. They explore the potential for AI to revolutionize financial services by streamlining operations for fintech companies, improving credit scoring, detecting fraud, and fostering financial inclusion.

Jimena and Federico share insights into their commitment to ethical AI implementation and the importance of minimizing biases in fintech solutions. They discuss Hi Ventures' dedication to empowering startups and driving positive change in the financial sector.

To learn more about Hi Ventures, visit their website. Learn more about Accion Venture Lab here and follow us on LinkedIn and X (Twitter).

Supriya Paul, the co-founder and CEO of Josh Talks, joins host Rahil Rangwala in this episode of Accion Venture Lab’s Fintech for the People podcast to talk about online education for the future workforce in India and opens job opportunities for India’s youth. They also chat through the company’s growth that Supriya built over the last few years and its impact on the youth in India, especially when it comes to their career, financial literacy, and earning potential.

Supriya shared her experience growing up expecting to become an accountant, and instead diverting from the expected path and forging a new one with an online English learning app that boasts an average of 52 minutes of engagement per day with its 15,000 paid users, and 37 percent of users completing the 90-day course. She speaks about the impact that Josh Talks has had not only on her own life, but on countless of others’ as well.

To learn more about Josh Talks, visit their website. And learn more about Accion Venture Lab here.

Advance is a digital lending platform founded by CEO Jaime de los Angeles to help low and middle-income workers bridge their cashflow needs and manage unexpected expenses throughaccess to salary advances. His focus on the Philippines and Vietnam has brought financial freedom and credit to previously underserved markets, where they are now seeing as much as 50percent of users reporting increases in savings, health, and overall satisfaction.

In this episode, Jaime and the host Rahil Rangwala, Managing Partner of Accion Venture Lab, talk about Jaime’s experience growing Advance over the last four years and unpack the importance of nurturing the middle customer relationship in a B2B2C business model.

To learn more about Advance, visit their website. And learn more about Accion Venture Lab here.

The rise of digital platforms and apps that offer on-demand services, like ridesharing and deliveries, has created a new labor market referred to as the “gig economy.” Because of the temporary nature of their work, gig workers often face financial instability and limited access to financial services. In this episode of Accion Venture Lab’s podcast, host Rahil Rangwala hears from Flourish Ventures’ Director of Strategy and Insights Stella Klemperer about the growing gig economy and how digitization presents new opportunities and challenges in the fintech space.

In this conversation, Stella Klemperer shares her experience and knowledge on embedded finance for gig workers, growing government involvement in the fintech space, and the revolution of the gig economy.

To learn more about Flourish Ventures, visit their website. And learn more about Accion Venture Lab here.

Global shifts like digitization are driving economic and societal change, including the way that people find and do their jobs. More and more people are using jobtech, digital platforms that connect people to employment opportunities, to earn a living. In this episode of Accion Venture Lab’s Fintech for the People, host Rahil Rangwala sits down with Chris Maclay, Program Director at the Jobtech Alliance of MercyCorps, to talk about how MercyCorps is merging fintech with innovation in the job market, especially in Africa.

Listen to this in-depth talk about the role that technology continues to play in employment and the future of work, the beginnings of the Jobtech Alliance, and what an ever-shifting job market means for workers.

To learn more about the Jobtech Alliance, visit their website. And learn more about Accion Venture Lab here.

Rapid digitalization, climate change, economic instability, AI and automation, and other trends have shifted how people around the world live and work. For low-income and underserved people, these shifts have created new work opportunities, like gig work, and new risks and challenges, like the need to learn new digital skills. In this season of Accion Venture Lab’s Fintech for the People podcast, we’re exploring the role of fintech in the changing future of work. In the first episode of the season, host Rahil Rangwala interviews Sophie Sirtaine, CEO of CGAP, a global partnership of leading development organizations working to advance the lives of people living in poverty — especially women — through financial inclusion..

They discuss the intersection of fintech and the future of work, particularly for blue and gray collar workers, like gig workers. Sophie shares CGAP's mission to make financial services accessible to the world's most vulnerable communities. The episode explores the importance of building responsible and inclusive financial ecosystems for a green, resilient, and equitable future. Tune in to learn more about the importance of inclusive financial solutions as global shifts change the nature of work, especially for low-income and underserved populations.

To learn more about Accion Venture Lab, visit our website.