Fintech, or financial technology, is a popular concept that has been around for a few years. And in Europe, many startups are finding new ways to use it for good.
‘Fintech for Good’ is a ‘global not-for-profit movement advocating for greater transparency, accountability and social responsibility in the finance industry.’ It brings together finance professionals, technical engineers and leading economists, and aims to show what could have been achieved if society had used more sustainable budget management systems. Fintech for Good startups are a prime example of innovative platforms aiming to work with the financial services industry to achieve greater impact.
In this context, ‘good’ can be defined in several ways, including but not limited to improving access to financial services, increasing transparency and accountability in the financial sector, or promoting sustainable development.
The primary goal of ‘Fintech for good’ startups is to change how people think about money and positively impact the world. Consequently, the startups are making a difference in the lives of those they serve and helping to create a more sustainable and inclusive economy.