Hong Kong-based fintech Oriente recognized as one of the world’s leading young fintechs driving global financial inclusion 

We’re excited to share that Oriente was today named as part of the Inclusive Fintech 50 2020 cohort – a pioneering, socially-focused, global competition recognising the world’s most innovative early-stage fintech start-ups driving inclusion and resilience for the 3 billion financially underserved people globally.

Founded by MetLife Foundation and Visa with support from IFC and Accion, with additional funding from Blackrock and Jersey Overseas Aid & Comic Relief the initiative was established to acknowledge the efforts and contribution of ambitious young fintechs that have a meaningful impact on underbanked communities around the world.

An independent panel of 35 experts from venture capital, technology, and financial services firms selected the most promising startups providing credit, insurance, savings, and other critical products to underserved households and businesses. ‍Oriente was selected by Inclusive Fintech 50 out of more than 400 applicants operating in 111 countries for its vision, innovation, scalability, and traction in leveraging the power of financial technology to improve the accessibility, affordability, and convenience of financial services in  emerging markets.

The company’s fintech platforms across the Philippines (Cashalo), Indonesia (Finmas), and Vietnam (Finizi) provides access to a wide range of affordable financial services for its 7+ million users, including cash loans, digital credit, and offline-to-online consumer finance. Through real-time data and insights, Oriente also empowers tens of thousands of merchants to increase conversions and lower risks. For the underbanked communities it serves, Oriente aims to accelerate inclusive economic growth by unlocking vital financial access, powering commerce, and improving financial literacy through its platform and community outreach programs.

Geoffrey Prentice, co-Founder, Oriente said, “Oriente was founded to help underserved consumers and merchants to harness new economic opportunities through digital and financial inclusion across Southeast Asia. It’s humbling to be recognised by such a powerful initiative with a common vision and join this growing community of exciting, young fintechs that are passionate about empowering the world through inclusive finance. We have a deep, long-term commitment to the communities we serve and are thrilled to have the support of Inclusive Fintech 50 and its partner ecosystem as we expand our efforts.”

‍With the COVID-19 pandemic magnifying the economic vulnerabilities of low-income households and MSMEs, Inclusive Fintech 50 stresses the importance of financial inclusion and resilience:

‘Inclusive financial services can help vulnerable populations withstand income volatility, build and replenish emergency savings, access quality health insurance, and plan for and afford basic necessities. Innovative fintechs can dramatically enhance financial inclusion and financial resilience by reducing client-level transaction costs, increasing transparency, and improving the efficiency and affordability of expanding service access to more people.’

About Inclusive Fintech 50

Inclusive Fintech 50 elevates promising early-stage fintechs driving financial inclusion and resilience around the globe through a competitive process led by an independent panel of judges from venture capital, technology, and financial services. Applicants are assessed on the degree to which their target market includes underserved people or businesses, and whether their innovation offers a new value proposition, shows early-stage traction, and can have a noticeable impact on the more than 3 billion financially underserved people globally. Inclusive Fintech 50 was founded by MetLife Foundation and Visa, with support from Accion and IFC, and additional funding from BlackRock and Jersey Overseas Aid & Comic Relief. The initiative is implemented by MIX, the global data resource for investors focused on inclusive finance. Learn more at www.inclusivefintech50.com.