Nurturing relationships within the OFW family. Building partnerships for the OFW family. Fintech for Impact.
If it takes a village to raise a child, it takes a village to support that child’s parent.
Ann Douglas, Parenting Author and Speaker
In April 2020, ING partnered with UNICEF to call upon Fintech companies in the Philippines to provide solutions for the most financially excluded. The program was called Fintech for Impact.
ING and UNICEF aimed to make “Fintech” stand for technologies that deliver better – more accessible, easier to use, cheaper, faster, more reliable, more transparent, or scalable – financial systems and services that could change lives; all toward increasing opportunities and resilience of vulnerable youth and families.
Beam&Go applied to the program with Project SEGUIDA. After a six-month vetting period, five companies were selected. Beam&Go was one of them!
Project SEGUIDA is a configurable, customizable, and extendable object with pre-defined properties and methods. It will be launched with a public API, database table structures, and a web-based management tool. The purpose of Project SEGUIDA is to define and create relationships and actions between the migrant workers and their beneficiaries – spouse, children, parents, siblings, and friends.
Through this project, we will create an ecosystem that ensures that the OFW family journeys towards family resilience and financial security.
The partnership between ING, UNICEF, and Beam&Go is committed to making a positive contribution to the lives of children, youth and their families. We all believe that a strong and healthy community has far-reaching benefits for future generations and businesses.
Enhanced User Experience
Project SEGUIDA paves the way for a platform to manage social relationships, so Beam&Go’s social impact is magnified through the whole family and extended community.
Create relationships with beneficiaries
Customize allocation of funds freely
Setup financial controls and responsibilities
Project
Structure and
Sponsors
As a Fintech for Impact grantee, Beam&Go received an equity-free investment and support for a 12-month period, from November 2020 to October 2021. The programme includes:
- Funding – Beam&Go received up to USD$100,000 for the development of Project SEGUIDA. The funding was utilized to perform market research and pay for developer salaries.
- Advisory – UNICEF, ING, and programme partner Ideaspace provide Beam&Go with access to mentors in open-source technology, user experience, marketing, and business operations.
- Access – the programme provides access to UNICEF’s and ING’s vast network of business leaders, including potential partners, regulators, and potential investors.
Output
Through Project SEGUIDA, we will be able to release 3 key aggregate reports
that will have unique insights into the OFW demographics, consumer habits, and family dynamics.
Family Size
Consumer Spending
Responsibility Tracking
We aim to grow to a 5M-strong community by 2023, with a network of partners working together for the OFW.
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