Around 1.4 billion people worldwide remain unbanked, primarily in developing regions and among women. Barriers such as limited access to financial services, lack of identification, and digital literacy continue to prevent millions from joining the formal economy. The AI for Financial Resilience initiative by Mercy Corps Ventures (MCV) aims to change this reality by leveraging emerging technologies to promote inclusive finance and economic stability.
The Global Challenge
The financial inclusion gap stems from multiple factors:
- Access & Usage Gaps: Limited access to banking and credit for rural and low-income populations.
- Lack of ID and Credit History: Absence of formal identification and user data restricts lending opportunities.
- Affordability Issues: High delivery costs make financial services inaccessible for marginalized communities.
- Trust & Digital Literacy: Skepticism toward digital solutions and low digital literacy hinder adoption.
- Climate Vulnerability: Climate shocks such as floods, droughts, and heatwaves push millions deeper into poverty.
AI and Emerging Technologies for Financial Resilience
Emerging tools such as AI and blockchain have the power to revolutionize how financial services reach underserved populations. When applied responsibly, these technologies can create inclusive, user-friendly, and affordable financial products for unbanked and underbanked individuals worldwide.
As highlighted by MCV’s pilot partner Mercedes Bidart of Quipu at TED AI Vienna:
“When you say yes to people who have always been told no, you unlock dignity, growth, and opportunity.”
About the AI for Financial Resilience Initiative
Mercy Corps Ventures’ AI for Financial Resilience program supports innovative startups using AI, blockchain, and emerging technologies to close financial service gaps for unbanked, underbanked, and climate-vulnerable populations in Sub-Saharan Africa, Latin America, and Asia.
Core Objectives:
- Expand Financial Inclusion: Develop AI-driven solutions for insurance, credit, savings, and remittances.
- Strengthen Climate Resilience: Create financial tools that help vulnerable communities withstand and recover from climate-related shocks.
- Generate Evidence and Learning: Build sector knowledge to inform future investments and scale successful solutions.
Who Should Apply
MCV invites startups and innovators developing AI-powered financial solutions for emerging markets. Eligible projects may focus on:
- Financial literacy and digital education using AI
- Access to microinsurance, savings, credit, and emergency payments
- Blockchain-based remittance and savings tools
- Primary Beneficiaries:
- Unbanked and underbanked individuals
- Low-income households
- Women and immigrants
- Micro, small, and medium enterprises (MSMEs)
Geographic Focus:
- Sub-Saharan Africa
- Latin America and the Caribbean
- Emerging markets in Asia
- Benefits for Selected Startups
Successful applicants will receive:
- Financial Support: Equity-free grants of up to $50,000 per startup on a milestone basis
- In-kind Support: Mentorship, impact measurement advisory, access to partnership networks, knowledge exchange, and brand exposure
Evaluation Criteria
Applications will be reviewed based on:
- Impact First: How the proposal strengthens financial resilience for unbanked communities.
- Innovation Edge: The originality and ecosystem value of the proposed solution.
- Sustainability: A clear, scalable business model for long-term impact.
- Likelihood of Success: Technological readiness, partner capacity, and feasibility within the pilot timeline.
Application Details
- Language: All applications must be submitted in English
- Process: Rolling review — early applications are encouraged
Application Deadline: December 1, 2025
Apply here: Application
For more information: Mercy Corps Ventures
For more opportunities: Opportunities for Youth
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