Unlocking Financial Access
Show notes
As a Peace Corps volunteer with an engineering degree from MIT, Doug Ricket, Founder and CEO, PayJoy, a leading financial services provider for underserved consumers across emerging markets, learned first-hand what it means to build trust in underserved communities. The experience in West Africa sparked a long-held interest that eventually put Doug’s engineering and tech background to work to make a true financial impact and build a mission-driven business for underserved consumers, 20 million of them to date across 9 countries (Mexico, Brazil, Indonesia, South Africa, Ecuador, Peru, Panama, Colombia, and the Philippines)
Listen as Doug shares his founder journey with Brett King and explains why he left a comfortable path in tech to help first-time borrowers build credit and access broader financial services and payments.
Smartphones have become essential economic infrastructure. A smartphone can be a customer’s first productive financial asset and first step into formal financial access, creating financial opportunity for consumers otherwise locked out of traditional credit and payments infrastructure.
40% of PayJoy’s customers are new to credit; 37% are first-time smartphone users. How does PayJoy build a credit profile for someone who’s never had access to credit before? What sets their approach apart from traditional lenders? Listen to find out.