SEOUL, South Korea, Nov. 7, 2023 /PRNewswire/ — SentBe, a prominent fintech firm, made its mark at the ‘Pathway to 17 Summit’, a global event held on October 30th and 31st. This summit brings together thought leaders, industry experts and practitioners dedicated to addressing complex issues aligned with achieving the Sustainable Development Goals (SDGs). Organized by Digital Frontiers Institute and The Alliance of Digital Finance Associations, the event serves as a platform for discussing the crucial role of financial inclusion in advancing these goals.
SentBe imparts insights on sustaining inclusive instant payment systems during ‘Sustainable Payment Systems and Crisis Management’ session.
Representing South Korea as the exclusive participant, SentBe presented Hanna Yim, the leader of its Business Impact Team, as a panelist. The session focused on ‘Sustainable Payment Systems and Crisis Management,’ a pivotal topic within the realm of financial inclusion.
The discussion, masterfully moderated by Jacqueline Jumah, Director of Advocacy & Capacity Development at AfricaNenda, provided a candid exploration of the challenges faced in Africa’s Inclusive Instant Payment Systems. The consensus was clear: Inclusive instant payment systems are vital for expanding financial inclusion, stimulating economic growth, ensuring financial stability, reducing poverty, and promoting shared prosperity on a global scale.
Hanna Yim, Head of Business Impact at SentBe, underscored the need for harmonious coexistence between traditional and emerging financial institutions. She emphasized the importance of establishing a robust digital infrastructure to support instant payment systems. Yim cited the example of Kenya’s mobile payment platform, which succeeded not because of high-end technology but through accessible solutions, such as 2G phones and related infrastructure.
Yim stressed the importance of identifying areas for improvement and allocating resources to advance financial inclusion. Effective collaboration between the public and private sectors, particularly in providing resources to stakeholders in the financial sector, is crucial. She also emphasized the significance of a customer-centric approach, especially in the current environment where Environmental, Social, and Governance (ESG) factors are central. According to Yim, private sector entities should create solutions that not only generate financial value but also contribute to social value creation for greater sustainability.
SentBe, a member company of Global Digital Innovation Network (formerly known as Born2Global Centre), stands at the forefront of advancing financial inclusion through its core business, aligning with financial ESG principles. It operates the industry’s sole ‘Business Impact Team’ in Korea, dedicated to promoting financial accessibility for groups traditionally overlooked in the mainstream financial sector. Notably, SentBe’s international remittance service surpasses the SDGs target rate for remittance fees set by the UN to be achieved by 2030. Furthermore, SentBe’s innovative business model made history as the first from a Korean company to be chosen for the prestigious Inclusive Fintech 50 in 2022, earning acclaim from both domestic and international academic circles and international organizations. SentBe’s commitment to financial inclusion is not just a corporate mission; it’s a practical contribution to global sustainability goals.