GoodTech Information Systems Inc., a homegrown sustainable financial technology company, was recognized by two esteemed international organizations recently for its efforts to drive financial inclusion in the Philippines.
GoodTech was the lone Filipino fintech company among 12 finalists in the Alliance for Financial Inclusion (AFI)’s Inclusive FinTech Showcase 2024, while being named by The Luxembourg House of Financial Technology (LHoFT) as one of 15 companies driving financial inclusion in Southeast Asia.
After the initial selection and a week-long participation in the pioneering acceleration program “Catapult: Financial Inclusion Southeast Asia” in Bangkok, GoodTech then made the shortlist of 10 fintechs that will move on to the next stage of the program in Luxembourg in June 2024 to further integrate into the global fintech ecosystem and benefit from the country’s extensive financial services network.
These recognitions highlight GoodTech’s commitment to empower the unbanked and underserved communities through its suite of financial products. A one-stop-shop for financial solutions, GoodTech works with small financial institutions to enhance their lending operations and enable them to efficiently serve the needs of rural communities.
GoodTech became a finalist for AFI’s Inclusive FinTech Showcase this year for offering a promising digital solution that improves access to financial services for low-income communities.
The other finalists were Dots for Inc. (Africa), eMaisha Pay (Africa), Giesecke+Devrient (Germany), Hello Tractor (Africa), IFarmer (Bangladesh), Jumo (Africa), Mosabi (Africa), myStash (Africa), Pertence (Africa), Revfin (India), Xchange Box Solutions (Africa).
Meanwhile, The LHoFT, Luxembourg’s dedicated fintech center, honored GoodTech and 14 other outstanding fintech firms last month for their innovative approaches to enhancing financial access and sustainability within their communities, and leading a dynamic movement aimed at creating impactful solutions to address the unique challenges in Southeast Asia.
In selecting GoodTech, The LHoFT noted that it has built a “customer-centric platform targeting the unbanked/underbanked [while] requiring alternative KYC and digital identity approaches.”
Likewise, The LHoFT cited GoodTech’s efforts to “bridge the financing gap and make the livelihood of hardworking families more resilient to economic and environmental threats through savings and insurance” by partnering with established local financial institutions and the strongest players in the technology industry.
As part of this selection, cofounder Jove Tapiador represented GoodTech in “Catapult,” an acceleration program designed to boost financial inclusion across the region and strengthen the connection between the fintech ecosystems of Southeast Asia and Europe.
Catapult’s program featured a curriculum designed to enrich the fintech startups with a comprehensive suite of workshops, mentoring sessions, networking opportunities, and investor interactions, offering an invaluable opportunity for growth.
GoodTech was joined by other Philippine companies Farmvocacy, Global Credit Pros, and InvestEd in the acceleration program.
The other selected fintech firms were Aiforesee (Indonesia), Blue Duck Tech (Malaysia), Ekko Financial Wellness (Vietnam), Fina Fintech (Laos), Finfra (Indonesia), ICare Group (Singapore), Laneth Tech Company (Thailand), Lao Mobile Money (Laos), LTS Ventures (Laos), Noburo (Thailand), and Wahine Capital (Malaysia).
A total of 70 fintechs in emerging countries on the African continent have participated in the Catapult program over the past six years through the collaborative effort of LHoFT Foundation, Luxembourg’s Directorate for Development Cooperation and Humanitarian Affairs and their partners.
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