JUMO recognised by the International Finance Corporation (IFC) and the SME Finance Forum for innovations in small business lending

JUMO

4 November 2020,  London

JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, has been named Platinum winner of the Responsible Digital Innovator of the year award, and Silver winner of the Product Innovation of the Year Award at the 2020 Global SME Finance Forum Awards held on October 27th.

Organised by IFC, a member of the World Bank Group, and the SME Finance Forum and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.

“Thank you to the global SME Finance Forum community for recognising how hard we’ve worked to promote responsible digital lending and products that fit MSMEs in emerging markets. We want to keep customer value and consumer protection at the heart of all we do,” said Andrew Watkins-Ball, Group Founder and CEO of JUMO.

Launched in 2018 and now in its third year, the Global SME Finance Awards were set up to recognise the commitments and distinguished achievements of financial institutions and fintech companies in delivering outstanding products and services to their SME clients and helping them grow. Despite the impact of COVID-19 on economies worldwide, this year’s pool of entries was strong and highlighted the creativity and responsiveness that financial institutions and fintechs illustrate when serving SMEs.

Linnea Kreibohm, Senior Policy Officer at the German Federal Ministry for Economic Cooperation (BMZ) and Co-Chair of the SME Finance Subgroup of G20 GPFI said, “The Global SME Finance Awards put the spotlight on two key issues – responsible innovation and responsible financing, which are an integral part of the financial inclusion agenda. As demonstrated by this year’s and last year’s Awards winners, product innovations can lower costs and allow SME financiers to better serve previously underserved and unserved SMEs, particularly women-owned SMEs. The awards are particularly important in our current economic situation, with many SMEs struggling with the economic impact of COVID-19.”

About JUMO

JUMO is a full technology stack for building and running financial services. We enable our partners to offer next-generation savings, lending and insurance products to entrepreneurs in emerging markets. These give anyone with a cell phone and mobile wallet access to unprecedented financial choice, so that millions of people can prosper, build their businesses and grow. Since inception, JUMO has served over 17 million customers with the assistance of our financial services provider partners and ecosystem partners, and disbursed over US$2 billion in loans.

Contact: comms@jumo.world

About the SME Finance Forum

The SME Finance Forum works to expand access to finance for small and medium businesses. The Forum operates a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. Established in 2012 by the G20 Global Partnership for Financial Inclusion, the SME Finance Forum is managed by IFC. For more information, visit www.smefinanceforum.org