Spread the gospel of fintech in emerging markets

TO better understand what 10 × 1000 Tech for Inclusion meant, I joined the platform and listened to various thought leaders talk about the diversity of fintech and financial services. In the many discussions about e-wallets, digital banking and allied technologies such as blockchain and data management in the digital space.

10X100 Tech for Inclusion is a philanthropic initiative launched jointly by the International Finance Corporation (IFC), a member of the World Bank Group, and Alipay in 2018 with the vision of training at least 1,000 talents across emerging markets each year for at least ten years.

Although it may feel like a classroom, due to the intense amount of information exchange, the learning platform is actually a community that brings together students with knowledge providers and thought leaders, in an ecosystem that allows for challenges and innovation to provide solutions.

I asked Jason Pau, Program Lead, 10 × 1000 Tech for Inclusion, about how the platform works. Launched in the midst of the pandemic, the platform allows global financial services professionals access to a world-class structured fintech curriculum.

“We offer free enrollment to students through our network of partners and alumni referrals. Upon completion of our programs, students will receive a blockchain-driven 10 × 1000 digital certificate. In addition, they will be eligible to join the 10 × 1000 community, supported by the platform, for networking and continuous learning, ”said Pau, explaining how the core of the 10 × 1000 curriculum is two full-length fintech programs – a leadership program, and a green fintech miniseries.

“These programs are designed around our learning framework – mindset, knowledge and skills – to not only provide theory but also insight and practical skills so that students can become drivers of digital economic growth. Students who complete the programs join a global network of professionals who share ideas and inspiration about fintech, inclusion and the digital economy, Pau elaborates.

The Fintech Foundation Program is a crash course in key areas of the digital economy for all athletes, from individual contributors to team leaders and organization leaders. It introduces key technologies that enable fintech and financial inclusion (including blockchain, AI and cloud computing), best practices in product thinking, strategies to scale any business. It has four courses in the curriculum.

The Fintech Expert Program is an advanced program for alumni who have completed the Fintech Foundation program, covering key topics, including digital transformation, deep dives into technology, and specific topics such as product design.

The Fintech leadership program is a customized program run once a year for a small number of senior executives to exchange ideas on key topics in technology, strategy and leadership, and network with peers from around the world.

It will launch a new one Green Fintech miniseries later this year that deepens the role of fintech and financial services to create a greener and more sustainable future.

For our Foundation and Expert programs, we offer an adapted model with team discussions and a Capstone project as well as an online “Flex” self-study model where students can access the same great content but complete lessons and quizzes at their own pace, “Pau.

I asked Jason what happened to the 2021 run of the 10 × 1000 Tech for Inclusion training program? What were the key highlights of the success?

«Offering accessibility to 10 × 1000s of educational content is a top priority in our mission to help close the gap with digital skills. A major highlight of the program last year was the more than 1,000 students in 66 countries and regions who completed our programs. Our students come from an inclusive and diverse base. Of the 66 countries and regions, 52 are from emerging markets. 30 percent of our students are women, “Pau explained as understanding how the potential for knowledge sharing across countries and regions has been prioritized with a focus on connecting and promoting the vibrant global fintech community of students, experts and partners. already created. . In 2021, 17 expert lecturers and 31 leading global organizations, technology investors and industry organizations joined the community as partners to collectively recruit students for 10 × 1000.

“A key factor in the program’s success is feedback from students. In 2021, we achieved an average class rating of 4.6 / 5 and an overall program satisfaction of 4.6 / 5. The students especially acknowledged the depth of industry insight and the feasibility of 10 × 1000 program content. More importantly, we are inspired by what our students do with their organizations in their communities. For example, many continue to expand their business in the pursuit of financial inclusion, and global organizations such as the United Nations World Food Program have used the program to improve their work on cash transfer systems, Jason said.

The organizers were not surprised that the Philippines had over 125 students who completed 10 × 1000 programs online – with over 40 percent of them women. This makes the country the third largest group of students in the first place, made possible by the close collaboration with local partners that included Fintech Alliance PH, Globes 917 initiatives and GCash.

“We look forward to deepening our commitment to further drive the availability of our programs across the Philippines over the coming years. We are approaching 10 × 1000 with an entrepreneurial mindset in our goal of building a global and leading online fintech training platform “This means that we strive to maintain a high level of optimism, innovation and practicality in everything we do,” Pau said as he continued to explain the challenges the platform faced.

Pau said that 10X100 Tech for Inclusion last year faced four major challenges:

1. Recruit a truly diverse and inclusive community of students globally;
2. Maintain a high standard content library;
3. Attract and maintain an online community of students, and
4. Ensure scalability and sustainability in its model.

“What we found is that each of these challenges can be solved by committing to three principles. To follow a global mindset with a local approach in the recruitment process for students, be open and cooperative in our approach with partners, and remain steadfast in our commitment to our users, ”Pau elaborated.

“Last year, our students asked for more varied lecturers and case studies, practical technology solutions and paths to digital transformation, as well as a deeper understanding of both important digital technologies and how they can implement this technology in their organizations. And that’s exactly what we want to offer in our 2022 programs, “the host added.

With more and more students, experts and partners from all over the world joining our community, the organizers a few months ago launched the 10 × 1000 Local CONNECT Lead Plan in Singapore, Malaysia and Pakistan. Several students were selected as volunteers to help organize local meetings and related activities to promote networking, engagement, and peer learning. The plan is to launch the same activity in several countries as the student base grows.

“In 2018, we launched 10 × 1000 with the core mission of closing the gap between digital skills for talents throughout the region. By leveraging technology and innovation combined with a comprehensive and growing partner base, we aim to provide greater access to world-class fintech training programs for all types of professionals, especially women and MSMEs. By 2025, 10 × 1000 aims to have certified at least 4,000 students representing more than 500 organizations from 100 developing countries and regions. Our belief is that the greatest benefits fintech can offer economies will be realized when all sectors of society can contribute and participate, “Pau revealed as he encouraged all interested parties, both potential students and partners to visit www.10 × 1000.org or send an email to [email protected]× 1000.org to participate in the program.