Social Entrepreneur Works To Bring 100 Million Underserved People Into Pakistani Financial System - #1151
Having created the fastest growing fintech company in Pakistan by on-boarding more than 70,000 people, Naureen Hyat, 33, co-founder and head of Tez Financial Services has a long way to go to reach her goal of financially empowering the 100 million people in her country who are unbanked or under-banked. Visa recently held a Shark Tank-style competition for women entrepreneurs in around the world in two categories, fintech and social impact. Hyat won the $100,000 prize in the fintech arena—despite a genuine integration of social impact in her model. The prize also included mentorship and access to Visa products and services. “Financial inclusion in Pakistan is extremely low. The World Bank estimates 100 million adults, out of a total population of 189 million, lack access to formal financial services. Low-income consumers in particular struggle to access credit, smooth cash flows, manage bumps and shocks, and save to meet their future goals,” says Tahira Dosani, managing director of Accion Venture Lab, a seed-stage fintech investor that has invested in Tez Financial Services and now serves on the board. Read the full Forbes article and watch the interview here: http://bit.ly/30GMFAY.