Kenya-based financial services firm, Jumo, has been shortlisted to compete for the Mastercard Foundation’s 2017 Clients at the Centre Prize, a $150,000 award that recognizes an organization most focused on client centricity to enable poor people in developing countries access to formal financial products and services.
Finalists competing for the grand prize will present their business models to an audience of approximately 400 industry professionals, who will be tasked with voting for the winner in early November.
The Mastercard Foundation first awarded the Clients at the Centre Prize in 2015 to a Swedish mobile microinsurance firm known as BIMA. Last year, the Prize was presented to the South African international remittance company, Hello Paisa.
Each year draws nearly 100 applicants from companies around the globe. The 2017 finalists include Jumo, a Kenya-based, large-scale, low-cost financial services marketplace that uses behavioral data from mobile usage to create financial identities for micro, small, and medium-sized enterprises;
Among the finalists is ftCash, one of India’s fastest growing financial technology ventures which aims to empower micro-merchants and small businesses with the power of digital payments and loans; and
Also singled out for the award is Destacame, a Chile-based free online platform that empowers users by giving them control over their data to build their financial capabilities and to access financial products.
The Mastercard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Africa.
As one of the largest private foundations, its work is guided by its mission to advance learning and promote financial inclusion to create an inclusive and equitable world.
Based in Toronto, Canada, its independence was established by Mastercard when the Foundation was created in 2006.