Fintech PR

Scaling Global Resilience: New Report Highlights Increasing Momentum for Evidence-backed Solutions

Published

1 year ago

September 19, 2023

The Resilience Evidence Forum (REF) 2023 Synthesis Report released, serving as a comprehensive guide to resilience-building methodologies and evidence.
The report underscores the pivotal role of high-quality evidence both in mobilising the large-scale financing needed and informing and catalysing the policy changes essential for building resilience.
The Report summarises key discussions held at the June 2023 Resilience Evidence Forum, co-hosted by USAID and the Global Resilience Partnership, which brought together more than 1,000 global stakeholders to evaluate the state of resilience evidence.

NEW YORK, Sept. 19, 2023 /PRNewswire/ — In a world grappling with escalating crises—from conflict and pandemics to the dire impacts of climate change—never has resilience been more critical. Released today, the REF 2023 Synthesis Report sets a new benchmark as an unmatched guide to resilience-building methodologies and evidence. The report recognises resilience as the ability to recover from and adapt to shocks and stresses, while enabling longer-term, systemic transformations, and offers actionable insights to inform investment, policy, and decision-making.

Through summarising the key discussions held at the REF in Cape Town, the report underscores the imperative to build on progress, address gaps, recognise various forms of evidence, and prioritise resilience as a collective goal.

Evidence of successful resilience implementation spans different sectors, stakeholders, and geographies – from the strengthening of small-holder farmers and grower communities’ resilience through radical cross-sector collaboration to the role of climate smart agriculture that combines seed technologies, soil fertility, and innovative financial tools for farmers. Taken together, the evidence detailed in the report showcases the increasing magnitude of resilience building initiatives globally.

However, scaling these evidence-based solutions requires a significant increase in finance. Annual spending on climate resilience alone is less than $50 billion, a mere fraction of the estimated $160 billion to $340 billion required. The private sector contributes just 2% to this insufficient pool, making resilience gains fragile and susceptible to setbacks like those witnessed during the COVID-19 pandemic.

To unlock further funding for resilience programming at the scale needed, the report concludes, evidence needs to be relevant and actionable. This also stands true for policy and decision-making; evidence must not only be rigorous and reliable, but also apply to the policies and decisions it seeks to influence. This will require collaborative action from donors, the private sector, policy makers, governments, community-based organisations and leaders, and research organisations to satisfy evidence needs, avoid duplication of efforts, and focus resources and investments.

In parallel, the report demonstrates the importance of diverse evidence – including that which is grounded in local experience and knowledge – to fortify global resilience efforts in the face of increasing threats and to connect local realities with global goals.

“Without equitable, radical collaboration and commitment to evidence that informs decision-making, policy, and investment,, we will continue to face barriers in protecting and supporting environments and communities that can flourish even in the face of change and uncertainty. The Resilience Evidence Forum was a significant moment for taking stock of where we are and where we need to go in strengthening resilience.” – Dr Nathanial Matthews, Chief Executive Officer, Global Resilience Partnership

Co-hosted by USAID and the Global Resilience Partnership, REF was the first such occasion in five years, convening more than 1,000 individuals from the private sector to universities to NGOs and local community groups. As well as a focus on how to further resilience programming, REF and the Synthesis Report highlights case studies and resilience success stories. These offer insight into the interventions that have worked and serve to guide future interventions. Examples of these success stories can be found in Appendix 1.

“With climate and other shocks becoming more frequent, severe and overlapping, there is an urgency to getting smarter, faster in terms of knowing what works when it comes to building resilience. At USAID we will continue to promote convenings like the Forum, to learn more about what others are doing and learning, and promote collaboration and partnership needed to drive equitable growth and well-being in an increasingly unpredictable world.”– Dina Esposito, Feed the Future Deputy Coordinator for Development and USAID Global Food Crisis Coordinator

“It is very important that the stories of resilience get told in the language of those impacted the most and that we learn to work with those stories, pull out what we need from that and don’t take a top-down approach to resilience evidence.” – Dr Shehnaaz Moosa, Director, SouthSouthNorth

Appendix 1

Slum Dwellers International (SDI)’s Know Your City long-standing profiling programme has helped debunk assumptions about informal settlements through community organising and the collection of household-level slum enumeration. For example, since 2017, residents of Mukuru — one of the largest informal settlements in Nairobi, Kenya — undertook an ambitious, groundbreaking participatory upgrading process, the Mukuru Special Planning Area (SPA). Led by the Kenya Slum Dwellers Federation, this process organised over 1,000 groups in 21 cities and towns to take part in a community-led enumeration process. This was then used to inform the development of the area-based upgrading plan.

SERVIR, a collaborative initiative between NASA, USAID, and leading technical organisations, leverages satellite data to address pressing challenges in food security, water resources, weather and climate, land use, and natural disasters in Asia, Africa, and the Americas. This partnership correlates satellite observations with ground data in regions like Ethiopia, Niger, and Zimbabwe, effectively measuring resilience from space by assessing the efficacy of development interventions (e.g.,halfmoon constructions for rain retention and soil improvement). The transparent and objective nature of satellite data supports evidence-based decision-making, thereby bolstering sustainability efforts in vulnerable regions.

Under the Grown for Good Framework, world-leading spice and flavour producers McCormick & Company aim to increase the resilience of over 35,000 farmers by 2025 This is measured by increasing skills and capacity, income, access to financial services, education, and nutrition and health,. This is achieved through multiple interventions – from purchasing higher-value cured vanilla beans from the growing communities, rather than raw, that give farmers a higher purchase price, to investing in infrastructure for remote communities such as the vanilla-growing communities in Madagascar, and building or rehabilitating local schools and libraries, giving children from farming families improved access to education.

Notes to Editors

The Global Resilience Partnership (GRP) is made up of 70+ organisations that work together to advance resilience through identifying and scaling on the ground innovation, generating and sharing knowledge, and shaping policy. GRP envisages an inclusive world in harmony with nature, that is better prepared to cope with shocks, adapt to change, and transform – all within planetary boundaries. The Partnership is registered as a non-profit organisation in South Africa and co-hosted by the Stockholm Resilience Centre at Stockholm University.

For media enquiries, please contact Isobel Turnill at Browning Environmental Communications – [email protected], +44 (0) 7585151035

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Fintech PR

Joe Depa named as EY Global Chief Innovation Officer to lead its global innovation strategy

Published

2 hours ago

November 26, 2024

CISION (PR Newswire)

joe-depa-named-as-ey-global-chief-innovation-officer-to-lead-its-global-innovation-strategy

Depa will lead on the discovery and deployment of emerging technologies to help address business challenges and shape the future with confidence
Brings deep experience in identifying new ways that can practically help business transformation through an innovation mindset and culture shift

LONDON, Nov. 26, 2024 /PRNewswire/ — The EY organization announces today the appointment of Joe Depa as the new EY Global Chief Innovation Officer, effective immediately. Within this role, he will spearhead applied innovation to help improve service delivery and guide EY teams to address and solve business challenges.

Depa joins the EY organization at a pivotal moment, as a range of emerging technologies are reshaping businesses and industries, creating a multitude of new challenges and opportunities. To keep pace, the EY organization is continuing to make significant investments in areas such as artificial intelligence (AI), quantum computing and blockchain, and most recently formed the EY.ai Global AI Advisory Council.

In his new role, Depa will be leading the organization’s global innovation strategy. This will include overseeing efforts to successfully implement emerging technologies for tangible business applications, both internally and across work of EY member firms with clients.

Raj Sharma, EY Global Managing Partner of Growth and Innovation, says:

“At this time of constant disruption, success would require a forward-thinking approach and willingness to make bold decisions, which are at the heart of an innovative mindset. We’re thrilled to have Joe’s deep experience and knowledge around AI and data to lead on our strategic approach to innovation so that EY teams can help clients shape their future more confidently.”

Throughout the last decade, Depa has worked closely with C-suite leaders and boards to bring innovative products and services to market, improve client and employee experiences, and help enhance operational efficiencies through technology. Most recently, he served as the inaugural Chief Data and AI Officer at a leading university and health care organization. At the university, he helped to promote AI literacy, launch a responsible AI governance program and enable a secure data foundation. Prior to that, he acted as Senior Managing Director and Global Lead for Data and AI at a global multinational professional services company, where he led a team of AI strategists and data engineers in developing and implementing new products and services.

Joe Depa, EY Global Chief Innovation Officer, says:

“I’m truly excited to join an organization that is ‘All in’ on its commitment to the transformative potential of emerging technologies. I look forward to working with the EY teams and clients to help empower them to apply innovation in bold, new ways that help create value for clients through data, AI and emerging technologies to make the world a better place.”

A renowned thought leader in the field of AI, Depa has been recognized as one of the “Top 50 Global Leaders” by World Summit AI and has received Fast Company’s “World Changing Idea” award, among other accolades.

For more information, visit: ey.com.

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

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Fintech

Fintech Pulse: A Daily Dive into Industry Innovations and Developments

Published

4 hours ago

November 26, 2024

Peter Tolan

fintech-pulse:-a-daily-dive-into-industry-innovations-and-developments

The financial technology sector continues to evolve at a rapid pace, offering innovations that disrupt traditional paradigms. Today’s briefing underscores fintech’s diverse growth avenues: from substantial venture capital plays and strategic partnerships to groundbreaking implementations in lending. Here’s a closer look at recent developments shaping the landscape.

Synapse’s Comeback and Andreessen Horowitz’s Strategic Bet

Source: Axios
Synapse, a financial infrastructure company previously embattled by controversy, is staging a remarkable comeback, backed by none other than venture capital heavyweight Andreessen Horowitz (a16z). With this new infusion of funds, Synapse aims to consolidate its position as a premier platform for building financial services tools.

This resurgence demonstrates the resilience of the fintech ecosystem, where innovation often prevails over turbulence. Synapse’s renewed vigor also signals that top-tier investors remain bullish on infrastructural solutions pivotal to the future of digital finance. Andreessen Horowitz’s participation not only validates Synapse’s model but also underscores the VC giant’s enduring interest in fintech infrastructure, even amid global economic uncertainties.

Analysis:
This partnership exemplifies the dynamism within fintech, highlighting the interplay of innovation, capital, and resilience. It also raises questions about the broader implications of giving second chances to firms with turbulent histories. While Synapse’s evolution could inspire others, it also places a spotlight on governance and accountability in high-growth sectors.

Israel’s Fintech Scene Gets a Boost with Investment in Finova Capital

Source: Calcalistech
Israeli fintech startup Finova Capital has raised an impressive $20 million in a funding round led by prominent institutional investors. This marks a significant milestone for the company as it seeks to expand its suite of financial solutions aimed at underserved markets.

Israel’s fintech ecosystem has long been recognized as a hub of innovation, and this latest investment only reinforces its global standing. Finova Capital’s focus on empowering smaller businesses and fostering financial inclusivity aligns with emerging trends where tech-driven solutions bridge critical gaps in financial services.

Analysis:
With this funding, Finova is poised to enhance its technological offerings while contributing to economic inclusion. However, the broader fintech industry will watch closely to see how the company leverages this capital amid increasing competition from regional and global players.

India’s Yubi Plans a Fundraising Push

Source: Bloomberg
Yubi, a prominent Indian fintech platform backed by Insight Partners, is reportedly preparing for a new fundraising round. Having already established itself as a leader in credit infrastructure, Yubi aims to bolster its offerings and expand its market footprint.

India’s fintech landscape is witnessing explosive growth, with platforms like Yubi playing a critical role in the credit ecosystem. Yubi’s planned fundraising reflects the broader appetite for scaling solutions that streamline credit access, particularly in emerging markets where traditional lending models often fall short.

Analysis:
This development highlights two key trends: the increasing reliance on credit platforms in high-growth economies and the strategic role of international investors like Insight Partners in driving fintech innovation. Yubi’s expansion plans could set a precedent for other regional fintech players seeking to scale amid global economic headwinds.

Provenir and Hastings Financial Services Win Global Recognition

Source: Business Wire
In a testament to the transformative power of digital lending solutions, Provenir and Hastings Financial Services have been jointly recognized for the Best Digital Lending Implementation at the IBSi Global Fintech Innovation Awards. This accolade underscores the success of their collaboration in modernizing the lending process through cutting-edge technology.

Provenir’s advanced decision-making platform and Hastings Financial Services’ lending expertise have delivered a solution that significantly enhances user experience, operational efficiency, and risk management. Such innovations highlight the increasing role of partnerships in advancing fintech’s digital transformation.

Analysis:
This recognition not only validates the efficacy of digital lending but also emphasizes the importance of partnerships in driving innovation. It signals to the industry that collaboration can be a powerful tool for staying ahead in a rapidly evolving marketplace.

Microf and Quantum Financial Technologies Forge New Alliances

Source: PR Newswire
Microf, a financial solutions provider, has announced a strategic partnership with Quantum Financial Technologies. This collaboration aims to expand lending solutions for contractors, providing streamlined access to capital for businesses in need of flexible financing options.

This partnership is a timely response to the growing demand for specialized financial products in niche markets. By leveraging Quantum’s technology, Microf can now offer more tailored solutions, particularly to contractors navigating complex financial requirements.

Analysis:
This development reflects a growing trend: the diversification of fintech offerings to serve specific market segments. As competition in mainstream fintech intensifies, targeting underserved niches could become a defining strategy for success.

Key Takeaways for the Fintech Ecosystem

Resilience in Fintech Funding: Despite economic uncertainties, venture capital continues to fuel innovative fintech players like Synapse and Finova Capital.
Regional Growth Stories: From Israel to India, fintech ecosystems are thriving, attracting global attention and investment.
Collaboration as a Catalyst: The success of partnerships like Provenir-Hastings and Microf-Quantum underscores the importance of strategic alliances.
The Power of Recognition: Awards like the IBSi Fintech Innovation Awards validate industry achievements, inspiring others to push the envelope.
Focus on Inclusion: Whether through credit platforms or lending solutions, fintech is playing a pivotal role in fostering financial inclusivity worldwide.

Looking Ahead: Challenges and Opportunities

The fintech sector’s journey is far from linear. Regulatory complexities, technological disruptions, and market volatility remain persistent challenges. However, as seen in today’s developments, the opportunities far outweigh the risks. By prioritizing innovation, collaboration, and inclusivity, fintech players can navigate the complexities of the global financial landscape.

This moment in fintech history is pivotal. It’s a time for bold decisions, strategic partnerships, and a commitment to bridging financial divides. As industry players rise to the occasion, the road ahead promises a future where technology and finance intertwine to empower individuals and businesses alike.

The post Fintech Pulse: A Daily Dive into Industry Innovations and Developments appeared first on News, Events, Advertising Options.

Fintech PR

BIZCLIK MEDIA LAUNCHES DECEMBER EDITION OF FINTECH MAGAZINE

Published

5 hours ago

November 26, 2024

CISION (PR Newswire)

The December edition of FinTech Magazine includes interviews with leading experts and executives from Alipay+, Marqeta & Flyfish

LONDON, Nov. 26, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has released the latest edition of FinTech Magazine.This publication is highly regarded by voices within the Financial Sector for its in-depth reports and interviews with prominent figures in the industry.

FinTech Magazine

This month’s edition features an exclusive lead interview with Flyfish C-Suite, Savvas Pashias, Shay Merary and Michael Zetser on how they have developed a platform for SMEs to access banking services, as traditional infrastructure struggles to meet increasing cross-border needs.

“The UniFi platform is inherently scalable, designed to growin line with a company’s expansion and service requirements” – Michael Zetser, CEO, Flyfish

The edition also contains extensive interviews with key thought leaders from Marqeta, Sidekick, PayU and more. Plus the Top 10: Decacorns

You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.

About BizClik

BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.

BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.

For more information, please visit our website.

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