The Fintech Revolution Is Here. Can It Help Build A Better Economy?

At the Fintech for Inclusion Global Summit hosted by Accion, Quona Capital and FMO, in the Hague last week, Peter van Mierlo, the CEO of the Dutch development bank FMO didn’t mince words: The financial sector needs to be reinvented.”  The Summit was attended by investors, development finance institutions and leaders of companies around the world that are doing just that – reinventing the financial sector – by growing social enterprises that are using Fintech to open new markets and serve new customers.  Fintech is the intersection of finance and technology that seeks to “improve and automate the delivery and use of financial services.” And it is rapidly transforming the financial services sector as we know it.  Mobile banking apps like Venmo and Zelle, robo-advisors and peer-to-peer lending services, crowdfunding campaigns and cryptocurrencies – these are all Fintech innovations.

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