Microfinance Pioneer FINCA launches FINCA Impact Finance—a new model for responsible financial services


Nicaragua-Computer

27 April 2017, Washington, DC – FINCA, the global institution that pioneered Village BankingTM and helped prove the sustainable microfinance model as key to economic development, today announced the launch of FINCA Impact Finance.FINCA Impact Finance will continue to deliver on FINCA’s 30-year legacy of reaching underserved people with responsible financial services while increasingly leveraging digitization and mobile financial services.

FINCA Impact Finance’s network of 21 microfinance banks and institutions are redefining how low-income people access finance. Clients are increasingly bypassing traditional access points utilizing emerging technology and partnerships, including mobile and agency banking. In FINCA Impact Finance’s subsidiary in the Democratic Republic of Congo, 75% of transactions are now taking place outside traditional branches, saving clients valuable time and money.

As FINCA Impact Finance is launching digital financial services across five continents, its strong commitment to responsible banking and a focus on the long-term well-being of its clients continues to be recognized. Subsidiaries in Georgia, Kyrgyzstan, Azerbaijan and Kosovo have received Smart Certification, a global initiative that certifies the adoption of high ethical standards in the treatment of clients.

Leading FINCA Impact Finance as Chief Executive Officer is Andrée Simon, who brings more than 25 years of experience in economic development and inclusive financial services. Ms. Simon has been instrumental in FINCA’s evolution towards customer- centric digital financial services. She was Chief Operating Officer and most recently the Co-CEO of the FINCA Microfinance Holding Company, the social investment partnership behind FINCA’s global network. Previously, Ms. Simon was the President and COO of Women for Women International, and she has held various business and advisory roles in other organizations, including the Center for Strategic and International Studies and Women Advancing Microfinance International.

According to Ms. Simon, “FINCA is known throughout the world as a catalyst for economic inclusion for the poor. But the world of financial services is changing, and our approach must also evolve to reflect these changes – we want to be even more valuable to our customers than ever. To achieve our goal, FINCA Impact Finance will maintain the responsible customer relationships that have been our hallmark for decades, all as we adopt innovative financial services technologies that lower costs, improve access, and expand inclusion.”

 
FINCA Microfinance Bank Ltd Nigeria is part of the FINCA Impact Finance Network, a group of 21 microfinance and financial institutions that provides socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future.
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