Around the world, more than 1.5 billion people live without access to basic financial services. When families are able to save, send, and receive money safely and have access to affordable credit and insurance services, they are better positioned to protect themselves from economic shocks, build assets, and invest in a better future.
Omidyar Network’s work on financial inclusion includes people living in emerging markets, as well as the more than half of American families who live paycheck-to-paycheck and are currently underserved by the U.S. financial services market. We invest in the pioneering use of technology, from mobile to electronic currency, to make financial transactions more affordable, flexible, and convenient. Moreover, we work closely with entrepreneurs to ensure that these innovations are responsibly and successfully brought to market. As part of this, we support policy reforms, consumer research, and innovations that deliver formal financial services to the mass market.
Financial inclusion is critical to economic and social development. As more people are able to better manage their money, they create a future of greater possibility for themselves, their families, and their communities.
In March 2019, Omidyar Network spun out Flourish, an evergreen venture fund backing fintech entrepreneurs whose innovations innovations help people all over the wourld to achieve financial health and prosperity. Learn more here.