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Women’s Entrepreneurship Finance Community of Practice (CoP) - Embedding Payment Solutions in Financial Services for Women SMEs

26 August 2021
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Background
The objective of the new Women Entrepreneurs Financing Community of Practice (CoP) is to effectively share knowledge and best practices, tools and innovative products to facilitate increased services to W-SMEs. To discuss and agree on how best to build a sustainable community of practice, we organized the first meeting on December 16th, 2020. Its purpose was to discuss and agree on priority areas of focus and how to best structure the CoP to serve memberson how best to build a sustainable community to effectively share lessons learned on how to increase financial services to W-SMEs. About 40 members and IFC staff from diverse regions and institutions attended the meeting. 
 
 
Embedding Payment Solutions in Financial Services for Women SMEs
Women MSMEs account for 32% of the MSME Finance Gap and have been disproportionately impacted by the adverse economic impact of COVID-19. Despite the global economic downturn, the digital economy grew at unprecedented levels creating economic opportunities. The digital economy offers many opportunities for W-SMEs however, to participate fully women need to be able to make and receive payments. Banks and other financial service providers (FSPs) are now embedding payment and credit services into their products and solutions for W-SMEs.   
 
On August 26th from 8 a.m. to 9.30 a.m. EDT, Mastercard will share its experience working with partner FSPs to provide payment solutions to empower women and drive an inclusive digital economy. The meeting will also include an open discussion for participants to voluntarily share unique experiences in payments and the digital economy.
 
Objectives of the discussion
Share models and showcase approaches in embedding payment solutions to W-SME value propositions
Deep dive into managing risks of the digital economy, including algorithm bias, over-indebtedness 
Leveraging on-line data trails, sex-disaggregated data to inform strategies, product enhancements, close gaps and accelerate inclusion
Share insights in addressing regulatory barriers, social norms 
Facilitate participants contribution in sharing unique experience and solutions 
 
Presenters
Ginger Siegel is the North America Small Business Lead for Mastercard.  In this role, she has built out a needs-based customer centric strategy and executes through building and partnering to drive solutions for partners. Most recently she was a leader in the Financial Services group at Deloitte where she was a member of the highly ranked Payments Practice with a focus on Small Business, Fintech, Bank Partnerships and Commercial Banking. Ginger brings 30 years of industry leadership experience as an executive at large multinational and regional banks. She is a frequent speaker at National conferences on the topics of small business, business banking and enabling minority entrepreneurship. She has been interviewed by Forbes, US News and World Report and USA Today on these topics and has delivered podcasts and webinars on these important topics for organizations like Create and Cultivate, The Latino Coalition and Paypal. Her focus on female entrepreneurship and mentorship has helped shape the direction of the businesses she has led. 
 
 
Maria Barreiros de Juste, who is originally from Madrid, Spain, currently manages Product Management and Product Development for Small Business solutions for Mastercard Latin America and Caribbean. Maria joined Mastercard in 2015 and has +25 years of experience in the electronic payments industry, having worked and led regional teams for leading industry players in various markets, regions and roles including product development, marketing, sales and business strategy. Maria holds a B.A. in Economics and a Minor in International Relations from Smith College in Massachusetts. 
 
 
Maddie Jarombek is a Director on the Global Small Business team at Mastercard where she helps SMEs make payments through driving growth of Mastercard core SME business. Maddie joined Mastercard in 2019 and has 10+ years working globally in financial services across small business credit risk scoring, lending and product development of new B2B payment solutions.
 
 
 
Being a CoP, member participants will also be encouraged to share their own unique experiences in this area, including achievements and questions they are now asking on the topics below:
Leveraging Technological Innovation to unleash Market Opportunities, Greater Inclusion 
Product Design and Delivery
Risk Management, New Risks e.g. algorithmic bias, over indebtedness
Leveraging Partnerships and Collaboration 
Addressing Legal, Regulatory and Social Barriers
 
 
Registration is open for members on Member's portal.
 
By registering to this event, you agree to the SME Finance Forum/IFC Event Privacy Notice.
 
If interested in participating, please contact Minerva Kotei for more information. 
 

 

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