This is our second episode in Financial Inclusion month. Every year we dedicate one month to financial inclusion – my goal is to highlight and bring awareness to what the payments and/or fintech industry does today to help with the global challenge of financial inclusion and to discuss what more we can do.
Our special guest is David Rocha, CEO & Co-Founder of Prosperas. Properas, known as the Financial Inclusion company, enables lenders to instantly qualify anyone on earth for credit using only the anonymized, non-biased and consumer consented data from their smartphones.
There are 4 billion underbanked or unbanked people in the world, including 90 million in the United States and 70% of them have a mobile phone. Prosperas isn’t changing the way people get credit, they are changing the fundamentals behind it. They have built a 2-sided marketplace. One side includes the people or micro businesses looking for credit and the other side are the lenders. Anyone with a smartphone can be evaluated for credit.
David and I go on to talk about their involvement in the Mastercard Start Path program and the Santander X Global Accelerator program and their involvement with a Super App launching in Latin America.
I think the conversation can best be summed up by this quote directly from David.
“Someone gave us a chance and that’s really what we’re trying to do for this broader Community is give them a chance. And we know that if we do, they’ll take it. They’ll maximize it and we’ll all be better for it.”
A special thanks to The Clearing House for sponsoring Financial Inclusion month. You can learn more about the Clearing House by visiting www.theclearninghouse.org