Financial Inclusion for Women Challenge
2024

What you are solving for

The Financial Inclusion of Women Challenge Round 2024 (FIWC) aims to enable access to financial services for women through innovative solutions tailored to their needs and preferences. It also takes into account the structural constraints that women face in society.

View term sheet

Deadline: Wednesday, March 6, 2024

Target segments

Karandaaz invites applicants to submit their research proposals around one of the following areas of focus:

Card one

Economically active females
working across all sectors

Card Two

Financially excluded and
underserved women in rural
and urban areas

Who can apply

Digital platform, financial services providers, or other active players focused on increasing the use of financial products and services among women through any of the following means.

propsperity

Women centric financial product
or service design

Your primary target segment is females. Product design is influenced by their unique needs and preferences.

propsperity

Gender-based segmented approach to
sales funnel growth

You want to massively increase the use of your financial product or service among female customers.

propsperity

Platforms enabling women’s
financial inclusion

You are enabling the factors that in turn enable women to use or access financial products or services.

propsperity

Segment Specific Solution for Financial Inclusion

You choose a specific segment and develop targeted solutions for them for digital literacy and financial inclusion.

Opportunity size

There is opportunity cost of not taking a gender-intelligent approach. A research study with 31 fintechs, 15 subject matter experts, and10 fintech investors by Financial Alliance for Women reveals that the business case for serving women with better financial servicesis compelling, with women expected to control over $216 trillion in wealth globally.

70%

By simplifying its registration process and converting women at the same rate as men, Fintual could increase its revenue by 70 percent.

20%

For every 10 male loan applications, Kubo Financiero’s algorithm approves 8 women’s loan applications.By fixing the bias in its credit algorithm, the company could potentially increase its gross profit margin by 20%.

50%

By tapping into the power of female referrals, Carbon could see a 50 percent increase in organic customer growth.

propsperity

Key dates

February

1

Application open

March

2

Application deadline

April

14

Selection confirmation

May

4

Pitch Day

Note: These dates are tentative and subject to change, except for the last date for application submissions, which will not be extended.

View term sheet

FAQs

Digital platform, fintechs, financial services providers such as banks, NBFIs, MFIs/MBFs, other players such as aggregators or marketplaces that enable women to generate income, send or receive payments and open a bank account. The solutions can be B2C (business-to-consumer), B2B (business-to-business) or B2B2C (business-to-business to consumer)  in credit, insurance, payments & remittances, savings & personal financial management, or enabling an environment addressing challenges of women’s financial inclusion

You must have a blend of digital and non-digital solution in order to qualify for the grant.

You need to submit the complete proposal including the components mentioned in the Term sheet before the deadline i.e. March 6, 2024.

Get in touch

Have questions? Send us an email.

Email us

By Clicking, you agree to our Terms and Conditions, Privacy and Data Protection Policy

Our Sponsors