Kiva Zip, Technology & The Future of Financial Inclusion 2013

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Kiva Zip presentation given at a joint panel with Kiva, Accion Venture Labs, Lenddo. Moderated by Shannjit Singh (technologist, innovation and investment banking consultant for micro/social finance sector). Can learning and applying the same technologies we use to share Space (airbnb), Stuff, and Skills (Skillshare) to unlock wealth from Spare Change into small business growth? Kiva Zip is an experiment to do exactly that. Crowdfunding financially-excluded businesses begins with just $25 of spare change.

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Kiva Zip, Technology & The Future of Financial Inclusion 2013

  1. 1. Technology, SocialFinance and the Future of Financial Inclusion
  2. 2. “We are all familiar with the concept of a Church with no walls... ...Kiva Zip is a new kind of wonder - a lending organization with no physicalbank, no profit, and no interest. It exists purely.....on faith.”Ted Jefferson, Bronx Shepherds Restoration Corporation introducing Kiva Zip to fellow leaders of faith-based organizations
  3. 3. TECHNOLOGY HUMANITY
  4. 4. TECHNOLOGY HUMANITY Digital PaymentsSocial Connectivity Crowdsourcing
  5. 5. TECHNOLOGY HUMANITY Digital Payments CharacterSocial Connectivity Generosity Self-Service Human ties
  6. 6. TECHNOLOGY HUMANITY Digital Payments CharacterSocial Connectivity Generosity Self-Service Human ties
  7. 7. Zero cost to serve Zero Interest Crowd-funded Loans= to small business borrowers more “trustworthy” than their credit score suggests
  8. 8. The Need 9
  9. 9. Micro-preneur needs •Working capital1 •Lowering cost: buying in bulk,2 productivity appliances •Increase scale/revenues2 •Reliable production quality •Protection against risks3 •Fixed startup costs (renovations, licenses)4
  10. 10. TheSolution:unlocking wealthfrom ‘idle capacity’?
  11. 11. share shareSpace SkillsshareStuff
  12. 12. share shareSpace Skillsshare shareStuff Spare $
  13. 13. How Kiva Zip works in practice:Victor’s Cafeto CoffeeshopKiva Zip Story 14
  14. 14. Victor, Cafeto and a 0%, $5,000 loan
  15. 15. Victor’s ‘trustee’, MEDA
  16. 16. MEDA ‘endorsed’ Victor
  17. 17. Victor’s‘crowd’ oflenders
  18. 18. Lendersexpressingsupport,and evenbecomingcustomers
  19. 19. Victorupdatinghislenders
  20. 20. Victor is now 100% repaid…
  21. 21. …And he’s applying for a second, larger loan for his 2nd coffee shop 1 year later!
  22. 22. Victor then endorsed his friend Rocio for a loan
  23. 23. Examples of Organizationspartnering Kiva Zip as trustees SYRACUSE UNIVERSITY Institute for Veterans & Military Families SEEDSPOT Incubator, AZ GREENHORNS nonprofit, small farm-innovation Oakland City Church (Pastor Josh McPaul)TEAM ETSY LITTLE ROCKCommunity Center for African American Business St Louis, MO 24
  24. 24. Future of FinancialInclusion? “Anyone”
  25. 25. Don’t need a special idea, or greatmarketing or videos to get funded 38% 27% Food 9% Shops Access, Craft Contractors, Cleaners, Mechanics 5%7% 8% Farms tech/apps 7% other
  26. 26. LEND $25: Zip.kiva.org/loans PARTNER KIVA:m: sulin.lau@fellows.kiva.org t: @SulinLau

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