How Are Incumbents Adjusting Their Offerings to Become More Accessible?
by The Fintech Times July 22, 2024
Now encapsulating a focus on societal impact and the environment, the term ‘fintech for good’ has evolved from its initial meaning of charity. But it doesn’t stop there. This July, we are on the hunt to find out how the fintech industry is doing ‘good’ for local communities and the world, revealing current and future plans to make change.
When thinking about a financial service doing ‘good’, one of the first things that comes to mind is accessibility. Financial firms have historically been difficult for certain groups to gain access to due to a variety of checkboxes that needed to be filled out. However, the emergence of fintech has allowed many of these groups to find the support they need financially due to new, unique offerings. It has also acted as a wake-up call for many incumbents who have noticed they are losing clients to the newcomers on the block.
So what are incumbents doing to become more accessible? We set out to find out…
