SYRACUSE, N.Y. – Bonsai Finance Founder and CEO Britton Smith will participate in a discussion on, “Fin Tech in Focus: Can Fin Tech Increase Inclusion?” on March 28 at 2 p.m. during the HOPE Global Forums Annual Meeting in Atlanta.
“Investment in fin tech provides a huge opportunity to drive financial inclusion, both in the developed and developing world. As we have seen through Bonsai Finance, providing access to the right tools, information, advice, and products can make a significant difference in a consumer’s financial situation,” said Smith. “With banks across the globe restricted in their ability to innovate, the fin tech industry is leading the charge. We are excited to be able to partner with Operation Hope and help shape the agenda during these exciting times.”
According to the World Bank, there are 2 billion people in the world who currently have no access to banking services. In the context of financial inclusion, financial technology holds boundless potential. As new tools and technologies are developed, and old business models are challenged, financial services can be delivered to more people with greater speed, accountability and efficiency.
Access to financial products and services is becoming more attainable than ever, especially for individuals living in rural locations or regions with the structures of a modern economy. Not only can fin tech make these products and services more accessible, it can make them more affordable by lowering the cost of doing business for the financial institution. Couple this with the near ubiquitous availability of affordable cell phones and cellular accessibility, a future where no one is excluded from the financial system may not be far out of reach.
In 2014, investment in fin tech companies rose more than 200 percent. After leveling off in 2016 due to maturation of the industry, investment hit record highs globally in 2017.
The HOPE Global Forums are a community of events that serve as a call to action: to reimagine the global economy so the benefits and opportunities of free enterprise can be extended to everyone. The annual meeting serves as the largest gathering of leaders in the world on behalf of empowering poor and underserved communities.
HOPE Global Forums are an initiative of Operation HOPE, the global leader in providing financial dignity. Founded in 1992, Operation HOPE is the nation’s first nonprofit, financial services network for underserved communities.
In January, Bonsai Finance and Operation HOPE announced they have entered into a long-term commitment to bring financial literacy to people across the country and to continue empowering underbanked and unbanked populations through financial education.
Bonsai Finance now serves as Operation HOPE´s exclusive online partner in providing financial education by hosting Operation HOPE´s content in an interactive learning portal on its website. The content partnership will support cost-free financial education and counseling to underserved individuals.
The mission of Bonsai Finance to empower consumers to better understand and take control of their finances aligns with Operation HOPE’s dedication to financial literacy and economic empowerment. The new partnership will support Operation HOPE´s Project 5117—the organization’s approach to combating economic inequality that aims to improve financial literacy, increase business role models and business internships for youth, and stabilize the American dream by boosting credit scores.
Bonsai Finance has been working to provide individuals with knowledge to help them manage their personal finances responsibly, achieve their financial goals and make informed financial decisions. Bonsai Finance is committed to the economic empowerment of individuals so that they can improve their standard of living.