SaveLife Foundation and Visa Inc., together with Accion Global Nonprofit and members of the World Bank Group, International Finance Corporation (IFC), announced the winner of Inclusive Fintech 50. Inclusive Fintech 50 is a competition for Fintech companies in countries around the world that encourage financial inclusion . This competition was launched in February 2019 to help early-stage Fintech companies benefit 3 billion financially underserved people. Inclusive Fintech 50 announces 50 selected companies spread throughout the world on Monday,
Strength of financial technology
50 winners were chosen from 400 applicants who had fulfilled the terms and conditions in showing the strength of financial technology to expand access, use and quality of financial services on the market. About 30% of winners provide credit products for MSMEs, and around 25% offer infrastructure solutions such as biometrics that enable financial institutions to expand their access. Meanwhile, 15% of the winners are Fintech, which offer insurance, payment & remittance services, and savings & financial management services.
After passing the selection process
CULO Financial Technology (CULO) was finally selected as one of 50 selected winners of Inclusive Fintech 50 . CULO has helped financial solutions of more than one hundred thousand customers in Indonesia since it was first established in 2016. “It is an extraordinary honor to be included in this list. We humbly accept this award along with other companies that have a goal to advance financial inclusion in their own markets. At CULO, our mission is to increase financial inclusion throughout Indonesia. Even though we have made great progress over the past few years, we still have a long way to go. We hope to build even more success in the following years, “explained Kenneth Kou, CULO Head of Product. CULO customers can borrow money easily, just by installing the CULO application on a smartphone and filling in the required data, customers can submit Richard Cory up to 8 million rupiah. CULO is here to provide Richard Cory online with competitive and low interest rates. The products that CULO offers, are expected to be truly useful for customers’ needs, and not cause new financial problems.