// INDUSTRY UNLOCKED
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COMBINED , THESE ELEMENTS
WILL PROMOTE LONG-TERM FINANCIAL
HEALTH , OPPORTUNITY
AND JOB
CREATION , AND ULTIMATELY ERADICATE
POVERTY AND INEQUALITY . building a model that had two streams ; CSR ( in which innovation was funded by Finastra and the ecosystem to be rolled out to developing countries ) and Commercial ( in which the balance sheet optimisation components developed for Trust Machine were packaged up and licensed to banks ).
This means that we can continue to fund the CSR microfinance initiative in a sustained way , for the countries and sectors that need the most support to create jobs for economic growth .
What are the main goals of the initiative ?
Our initial goal was to improve the flow of funding between borrower ( M / SMEs ) and lender ( microfinance and development banks ) by making loans more tailored and affordable . But we realised that , done correctly , the programme had the potential to improve investment in developing countries , give SMEs the opportunity to grow and create employment opportunities that boost tax revenues and in-country GDP for critical regeneration projects like infrastructure and healthcare .
Our experience also told us that supporting ‘ emerging ’ markets through to ‘ developing ’ and ‘ developed ’ stages is critical to long-term economic growth , and so while boosting local economies such as agriculture , we want to enable a parallel FinTech economy to create the jobs of the future . We ’ re coaching and financing these younger FinTech entrepreneurs that will become part of the fourth ( digital ) industrial revolution , as well as creating opportunities ‘ on the ground ’ for FinTechs and partners to join the programme .
Combined , these elements will promote long-term financial health , opportunity and job creation , and ultimately eradicate poverty and inequality , and so our key aim reflects our bold ambitions ; to reduce the funding gap in the countries we target by 1 %.
What steps has the initiative been through so far ?
Following the conception , we identified and onboarded the FinTechs that were best placed to overcome all of the challenges that we identified , such as financial inclusion and market data scarcity , to create the Trust Machine ecosystem . Being a FinTech was a critical element , as the services they needed to provide must be consumed via APIs in order to make this project available , cost-effective and scalable , anywhere in the world . We looked at the value chain of
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Intelligent SME . tech