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Mifos wins 2021 Banking Tech Award for Best Contribution to Economic Mobility in Banking & Finance

The Mifos Initiative is honored to have been chosen by Fintech Futures as the Winner of the 2021 Banking Tech Award for Best Contribution to Economic Mobility in Banking & Finance.

It is as honor to have been selected from an impressive class of finalists including:

  • Comviva Technologies Ltd. – MOVii, Colombia (Highly Commended)
  • Robocash Group – UnaPay (Highly Commended)
  • Nuapay and One Banks  – Nuapay Open Banking with One Banks
  • Bank of America – Bank of America Community Homeownership Commitment®
  • Current – Enabling Americans to change their lives by creating better financial outcomes
  • Davivienda – Daviplata
  • Oxbury Bank Plc – Oxbury Farm Credit
  • Orange – Orange Money Africa
  • Lili – Lili Pro

This award recognizes projects using fintech/banking tech to champion financial inclusion and economic mobility. Examples include products/services for the underbanked communities and areas; products and services for specific demographics that are often overlooked, such as children and pensioners; innovative salary and benefits management tools; increasing financial literacy; promoting financial health etc.

This prestigious recognition helps to affirm our proven approach of unlocking a virtuous cycle of innovation which in turn fuels the virtual spiral of financial inclusion. As part of our 2030 vision, our global community strives to enable meaningful usage of financial service to more than 500 million individuals by 2030. We are making incredible progress towards that goal by providing the global financial services sector a common digital public good – modern, open source core banking infrastructure delivered as a set of OS building blocks which can be composed into any type of financial service.

Our end to end technology stack for digitizing customers & wallets, managing savings & loan accounts, and orchestrating payments aligns with the philanthropic sector’s movement around digital public goods and the commercial sector’s movement around embedded finance. By providing a set of open source building blocks for banking we make core banking commoditized infrastructure enabling any organization anywhere in the world to embed financial services in any solution for any consumer via any channel.

You can view a list of all the winners and finalists.

About the Banking Tech Awards

The Banking Tech Awards recognise excellence and innovation in the use of IT in financial services worldwide, and the people who make it happen. 2022 will be the 23rd year for these prestigious awards.

For banks and financial institutions, winning a Banking Tech Award showcases the value of their technology investments and showcases their skills, commitment, creativity and execution.

For software providers, a Banking Tech Award is a valuable recognition of the company’s products and services.

For individuals and teams, a Banking Tech Award is a prized acknowledgement of their skills, leadership, vision, inspiration and dedication to the industry’s betterment.

The 2022 awards ceremony will take place on 1st December 2022 at the Royal Lancaster Hotel, London.

The Banking Tech Awards are owned and produced by FinTech Futures, the definitive source of news and analysis of the global fintech sector.

Mifos selected as Runner-Up for Best Financial Inclusion Initiative at 2019 Financial Innovation Awards

The Mifos Initiative is honored to have been chosen as the Highly Commended runner-up entrant for the Best Financial Inclusion or Outreach Initiative at the 2019 Financial Innovation Awards hosted by The London Institute of Banking and Finance this past month in London.

Congratulations to the NS&I Government Payment Services on winning the award for its Help to Save initiative; we are are honored to be in such esteemed company of  impactful and innovative solutions including PAYG solutions from Azuri, banking solutions for the visually impaired from Lloyds Bank, and the Principality Building Society’s financial education initiative.  Thank you to the London Institute of Banking and Finance for this valuable recognition.

Alex Fraser, CEO at The London Institute of Banking & Finance, said: “As technology advances, the finance sector is often in the frontline of change. Organizations like the ones being recognized and celebrated in the Financial Innovation Awards, are vital in driving forward and progressing the future of the sector.  These highly prestigious awards give companies the opportunity to demonstrate their ground-breaking and innovative approaches, which will go on to shape the future of the financial services industry and the value it provides. A huge congratulations to all the winners!”

See the list of all the winners and shortlisted finalists.

About the Financial Innovation Awards

The Financial Innovation Awards, held on Thursday 21 November at Hilton London Bankside, recognize some of the most innovative companies in the banking and finance sector. 

This year 64 companies were shortlisted for awards in 22 categories covering: products & services; customer experience and delivery channels; responsibility and inclusion; and the future of financial services. 59% of the companies shortlisted were from the UK, while 41% were international including from the UAE, Canada, Bangladesh and Brazil. 

About The London Institute of Banking & Finance 

  • The London Institute of Banking & Finance has been at the heart of the finance sector since 1879. We’re a professional body and registered educational charity, incorporated by Royal Charter. 
  • We’re an awarding body for industry qualifications covering a range of subjects, including banking, investment, trade finance and regulated advice; in the UK and internationally.
  • We’re a university college, providing undergraduate and postgraduate degrees for students aiming to pursue a career in banking and finance.
  • We’re also the only specialist provider of personal finance qualifications at GCSE and A Level, helping young people to develop vital money management skills for life.

Explorations: Yoti – Digital Identities as a Force for Good

This post is part of our Explorations series, where we invite experts from across the global tech community and our ecosystem to impart their wisdom and knowledge. Identity is a crucial part of delivering responsible fintech and a topic that is actively being discussed across our community right now.  We’re happy to have Ken Banks, the Head of Social Impact at Yoti, share this guest blog post describing their recently announced social impact strategy. Ken will also be leading a webinar as part of our Mifos Community Webinar Series on March 18 at 1400GMT via GoToTraining outlining Yoti and its commitment to designing and delivering solutions that can make digital identity a force for good. 

Please read his blog post below, explore the their social impact strategy (.pdf) and join the webinar on March 18. Mifos is looking for institutions across the community who are ready and willing to participate in digital identity pilots we will be kicking off with organizations like Yoti and the Sovrin Foundation.

Webinar on Yoti: Digital Identities as a Force for Good

Register now for webinar on March 18 at 1400GMT to earn about Yoti’s social impact strategy and commitment to GoodID

Over the past few months our Social Impact team has been busy carrying out research across Africa, South East Asia and the United Kingdom to better understand digital identity needs and opportunities in these locations. We’ve been speaking to experts around the world and attending digital identity and humanitarian events to get a sense of who is doing what, where. Our findings have led to the development of an exciting user-focused, evidence-based Social Impact Strategy which we are proud to be launching today, along with an updated section of the Yoti website. Read more

Mifos selected as Runner-Up for Fintech for Good Award in 2018 Banking Technology Awards

The Mifos Initiative is honored to have been chosen as the Highly Commended runner-up entrant for the Fintech for Good Award in the 2018 Banking Technology Awards led by Fintech Futures.

While Deutsche Bank took home the Fintech for Good Award for its CommunITy Hackathons, we are pleased to have the prestigious honor of being selected as the Highly Commended entry amongst finalists like , , , , , and Banco BNI Europa.

Thank you to Fintech Futures and Comms for Good for hosting the awards and this valuable recognition. We’re proud that the impact of our community and ecosystem got to be recognize on this grand fintech stage and look forward to this as a springboard to further strengthen Mifos/Fineract as a recognizble name for open source banking, digital financial services innovation, cloud-based core banking, and banking the underbanked.

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