Reduce Inequality Within And Among Countries

In partial fulfillment of course Written Analysis of Communication

Submitted to:
Prof. Rihana

By:

Aashi Gupta: 2024MBA185

Kangana Roshan 2024MBA180

Tannu Yadav: 2024MBA188

Nikam Rishikesh Ashokrao: 2024MBA220

Prachi Kadam: 2024MBA203

Nitin Yadav: 2024MBA178

Section C

On

16 December 2024
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Executive Summary

EqualAccess Fintech is a pioneering financial technology company committed to reducing

inequality and promoting financial inclusion. We leverage cutting-edge technology to provide
innovative financial solutions, such as low-cost remittances, inclusive credit, and financial
literacy programs, to underserved populations worldwide. By partnering with governments,
NGOs, and financial institutions, we strive to create a more equitable world where everyone has
access to the tools they need to thrive. Our commitment to UN SDG 10 drives us to reduce
inequality and promote financial inclusion, fostering a brighter future for all.

Through our innovative solutions, we aim to empower individuals and communities, particularly
migrant workers, rural entrepreneurs, and women. By leveraging blockchain technology, we can
reduce remittance costs and ensure faster, more transparent transactions. Our inclusive credit
offerings provide access to capital for small businesses and individuals, enabling them to start
and grow their ventures. Additionally, our financial literacy programs equip individuals with the
knowledge and skills to make informed financial decisions. By addressing the root causes of
inequality, we hope to create a more just and equitable world.
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1. Industry Selection: EqualAccess (Fintech)

1. 1 Industry Analysis:

Finance is the most important constituent of economic growth, which involves banking,
insurance, investment, capital markets, and fintech. It performs a double role: stimulating
domestic growth and positioning India as the global financial leader.

1.2 Industry Overview

The finance industry is the backbone of global economies, enabling the flow of capital, financial
transactions, and economic stability. It encompasses traditional banking, insurance, investment,
and emerging fintech innovations addressing underserved populations.

National Industrial Classification (NIC):

Finance falls under:

● Section K: Financial and Insurance Activities

● Division 64: Financial Service Activities (except Insurance and Pension Funding)

A combination of traditional banking services and innovative fintech solutions. Integration of

digital platforms like UPI has changed the very dynamics of payment systems, turning India into
a global leader in real-time transactions.

1.3 Industry's History

The finance world started with the earliest systems of barter and trade, gradually formalizing
over the centuries through banks, stock exchanges, and insurance and transforming in the 21st
century with the fintech revolution.

The Indian financial sector opened up after liberalization in 1991. Over the years, government
schemes such as Jan Dhan Yojana and the digital explosion have transformed the face of this
industry, with an ever-growing focus on financial inclusion.

1.4 Size of the Industry

Global Size of the industry is worth $22.5 trillion in 2023, at a CAGR of 6%. The global
remittance market alone is worth $785.92 billion (2024). The Indian fintech market is growing at
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a CAGR of 20%, set to be worth $1 trillion by 2030. Finance contributes around 8% to India's
GDP.

1.5 Products and Services

Services in finance include: Banking, loans, and investment

Innovative Fintech Solutions:

● Remittances: Reducing high costs and filling accessibility gaps.

● Microfinance: Credit for rural and marginalized communities.

● Digital Payments: Mobile wallets, real-time payments, and cross-border

transactions.

1.6 Geographic Scope of the Industry

In the domestic market financial activities are concentrated in urban areas, but there is an
increase in rural financial inclusion due to schemes such as Pradhan Mantri Jan Dhan Yojana
(PMJDY) and Digital India. Public sector banks such as SBI and private players like HDFC are
increasing their rural presence.

The finance industry is global in reach, with regional hubs in North America, Europe, and Asia-
Pacific. Fintech companies have been able to reach rural and underserved markets through digital
technologies.

1.7 World View of the Industry

The finance industry is at the centre of global economic stability but also faces issues of
inequality.

On the cross-border inequality aspect, expensive remittances burden families of migrant workers
while 1.4 billion adults worldwide lack access to financial services, mostly in developing
economies. Women have 9% fewer chances of holding a bank account in developing countries.

1.8 Life Cycle Stage

Traditional Finance Sector: In the maturity stage, characterized by stability and regulation.

Fintech Subsector: In an emerging to growth stage, driven by technological innovation and rising
digital penetration.
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1.9 Contribution to GDP / Economy

The sector contributes around 8% to GDP every year, generating millions of jobs in banking,
insurance, and fintech. Financial services form the backbone of India's MSME sector,
comprising over 30% of the GDP and employing more than 110 million people.

India's financial sector further strengthens international economic ties, especially through
remittances and global collaborations.

Fintech innovations, such as UPI, enhance low-cost and accessible financial services in other
developing economies.
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2. Market Analysis

2.1 Market Gap Analysis

2.1.1 Cross-Border Inequality

The global remittance market was valued at $785.92 billion in 2024 and is expected to grow to
$990.33 billion by 2028 at a CAGR of 5.9%. However, average remittance fees remain high,
often around 6%, compared to the UN Sustainable Development Goal (SDG) target of reducing
them to 3% or less.

Financial Exclusion in Developing Nations had over 1.4 billion adults globally remain unbanked,
with most concentrated in low-income countries, limiting access to affordable financial services.

2.1.2 Inequality Within Countries

Rural populations often lack banking infrastructure. In Sub-Saharan Africa, for example, only
35% of adults have access to formal banking services. Gender and social barriers further restrict
financial inclusion. Women in low-income countries are 9% less likely than men to own bank
accounts, amplifying inequality. Restricted access to credit and affordable financial tools
perpetuates generational poverty. In developing economies, microfinance institutions cater to this
gap but focus mostly on short-term, high-interest solutions.

2.1.3 Access to International Credit

SMEs in developing countries face an estimated $5.2 trillion funding gap annually. Traditional
banks are often risk-averse, leaving these businesses underserved by global finance systems

2.2 Market Opportunity

2.2.1 Total Addressable Market (TAM):

300 million migrant workers globally contribute to the $750 billion remittance market annually.
While 1.4 billion unbanked adult globally, representing a significant demand for inclusive
financial services. Millions of SMEs in emerging markets require better access to credit.
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2.2.2 Serviceable Obtainable Market (SOM):

Aim to capture 10% of unbanked adults and 5% of remittance transactions within five years.
This equates to approximately $50 billion in remittance volume and 140 million financially
included individuals.

2.3. Competitive Analysis

In the Remittances segment, key competitors include Western Union, Wise, and MoneyGram.
Despite their established presence, these platforms face significant gaps, such as high transaction
costs, a lack of transparency, and insufficient personalization tailored to the needs of migrant
communities.

In the Microfinance sector, notable competitors are Kiva, Tala, and Branch. However, these
platforms often lack cross-border credit options and fail to integrate effectively with services that
address domestic economic inequalities, limiting their reach and impact.

Lastly, in Digital Payment Solutions, Payoneer and PayPal dominate the market but fall short in
providing adequate support to underserved populations in developing economies. Addressing
these gaps could unlock significant opportunities for inclusive growth and financial
empowerment.
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3. Framework

3.1 Porter's Five Forces Model

3.1.1 Competitive Rivalry

The competitive rivalry in the fintech space is high, with established players like Western Union
and Wise dominating areas such as remittances and microfinance. However, EqualAccess aims
to differentiate itself through a unique offering of cross-border and home-based financial
services, leveraging blockchain-based solutions to cut costs and serve marginalized markets
more effectively. The key challenges for EqualAccess include intense competition in transaction
fees and customer acquisition. Nonetheless, its specialized focus on enhancing financial access
gives it a strategic advantage in addressing underserved segments and carving a niche in the
competitive landscape.

3.1.2 Threat of New Entrants

The barriers to entering digital platforms are relatively low; however, regulatory requirements
for cross-border transactions and the need to establish trust pose significant challenges. These
obstacles can be mitigated by creating a competitive advantage through strategic partnerships
with governments, NGOs, and trusted institutions, fostering credibility and compliance.

3.1.3 Bargaining Power of Buyers (Customers)

Customers in high-remittance markets are highly price-sensitive, making them more likely to
switch to competitors if pricing is unfavorable. To address this, a strategic approach involves
offering competitive pricing with fees ranging between 1-2%, supplemented by added value
initiatives such as financial literacy programs and integrated digital wallets. These measures aim
to enhance customer retention and loyalty while meeting their financial needs effectively.

3.1.4 Supplier Bargaining Power

The dependency on blockchain infrastructure and technology can be minimized by outsourcing,

allowing for greater flexibility and efficiency. To enhance operations in rural areas, partnerships
with financial institutions and mobile networks will play a crucial role. A strategic action plan
involves negotiating long-term collaborations with technology providers and payment facilitators
to ensure stable and sustainable operations.
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3.1.5 Substitutes

The primary barriers to market entry include competition from conventional banks and cash-
based informal networks such as hawala, which are deeply entrenched in certain regions.
However, a significant competitive advantage lies in the ability to outperform these traditional
systems by offering remittance transfers that are faster, more transparent, and cost-efficient. By
highlighting these benefits, businesses can effectively position themselves as superior
alternatives to the conventional networks, addressing the limitations of speed, transparency, and
inefficiency often associated with traditional methods.

3.2 PESTLE Analysis

3.2.1 Political
Opportunities lie in the growing support from governments for inclusion programs and the
adoption of digital payment systems, exemplified by initiatives like Digital India. However,
challenges persist, particularly in addressing cross-border transactions and anti-money
laundering (AML) concerns, compounded by political instability in third-world countries. To
navigate these issues effectively, action must focus on ensuring compliance in collaboration with
global regulatory associations.

3.2.2 Economic
The global remittance market, expanding to over $750 billion annually, presents significant
opportunities for growth, particularly in the untapped potential of the unbanked population.
However, challenges such as economic slowdowns and currency fluctuations in developing
countries can impact repayment rates. To mitigate these risks, a strategic focus on regional
diversification can help offset economic vulnerabilities and ensure sustainable growth.

3.2.3 Social
The global remittance market, expanding to over $750 billion annually, presents significant
opportunities, particularly with the untapped potential of the unbanked population. However,
challenges such as economic slowdowns and currency fluctuations in developing countries pose
risks to repayment rates. To mitigate these challenges, a strategic focus on regional
diversification can help offset economic vulnerabilities and ensure sustainable growth.

3.2.4 Technological
Opportunities arise from leveraging AI for credit scoring and incorporating blockchain
technology to enable transactions with reduced reliance on trust-based systems. However,
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challenges persist due to limited smartphone penetration and inadequate internet connectivity in
rural areas. To address these barriers, the approach should focus on designing USSD-friendly
platforms and offering offline services to enhance accessibility and inclusivity.

3.2.5 Legal
Opportunities align with global organizational goals supporting financial inclusion, providing a
strong foundation for growth. However, challenges include the complexity of cross-border
operational licensing and navigating stringent data privacy legislations. To address these, the
approach should emphasize robust compliance systems and partnerships with licensed entities in
target regions to ensure seamless and lawful operations.

3.2.6 Environmental
Opportunities emerge from adopting sustainable blockchain technologies, such as low-energy
consensus models, which can enhance the company's ESG profile. However, challenges persist
in regions with inadequate infrastructure, where operations may contribute to a higher carbon
footprint. To mitigate this, the approach should focus on achieving carbon-neutral operations and
implementing fully digital models to minimize waste and environmental impact.
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4. UN SDG

4.1 Overview of UN SDG

The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in
2015, provides a shared blueprint for peace and prosperity for people and the planet, now and
into the future. At its heart are the 17 Sustainable Development Goals (SDGs), which are an
urgent call for action by all countries - developed and developing - in a global partnership. They
recognize that ending poverty and other deprivations must go hand-in-hand with strategies that
improve health and education, reduce inequality, and spur economic growth – all while tackling
climate change and working to preserve our oceans and forests.

● The SDGs build on decades of work by countries and the UN, including the UN
Department of Economic and Social Affairs. The journey toward sustainable
development has been marked by key international milestones:

● Agenda 21 (1992, Rio Earth Summit): A global partnership plan for sustainable
development.

● Millennium Development Goals (MDGs, 2000): Eight goals to reduce poverty by

2015.

● Johannesburg Declaration (2002): Reaffirmed Agenda 21 and MDGs, emphasizing

multilateral partnerships.

● Rio+20 (2012): Launched the development of the Sustainable Development Goals

(SDGs) and established the High-level Political Forum (HLPF).

● 2030 Agenda (2015): Adopted 17 SDGs with commitments to sustainable

development, disaster risk reduction (Sendai Framework), development financing
(Addis Ababa Action Agenda), and climate action (Paris Agreement).

Implementation Framework:

● HLPF: Annual review and follow-up platform.

● DSDG: Provides support for SDG implementation, focusing on thematic issues like
climate, energy, urbanization, and partnerships.

4.2 Brief about the 17 Goals

The 17 United Nations Sustainable Development Goals (SDGs), part of the 2030 Agenda for
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Sustainable Development, are a global call to action to end poverty, protect the planet, and
ensure peace and prosperity for all. Below is a brief overview of the 17 SDGs:

4.2.1 No Poverty: End extreme poverty (less than $1.90 a day) and reduce poverty in all its
dimensions according to various national definitions. Provide access to basic services, social
protection, and sustainable livelihoods.

4.2.2 Zero Hunger: End hunger, achieve food security and improve nutrition, and promote
sustainable agriculture.

4.2.3 Good Health and Well-Being: Healthy lives and well-being by promoting the major
health challenges that involve maternal and child mortality, infectious diseases, and the
promotion of mental health and access to universal healthcare.

4.2.4 Quality Education: Ensure inclusive and equitable quality education and promote
lifelong opportunities with equal access to primary and secondary education.

4.2.5 Gender Equality: End all forms of discrimination against women and girls and
ensure equal access to education, work opportunities, and political participation.

4.2.6 Access to Clean Water and Sanitation: Ensure access to safe drinking water and
sanitation for all and promote hygiene through sustainable water management.

4.2.7 Affordable and Clean Energy: Increase access to modern energy services for all, and
promote renewable energy sources.

4.2.8 Decent Work and Economic Growth: Promote inclusive and sustainable economic
growth, full and productive employment, and decent work for all, taking into account
different levels of national development and, eradicating poverty in all its forms and
dimensions.

4.2.9 Industry, Innovation, and Infrastructure: Build resilient infrastructure, promote

inclusive and sustainable industrialization and foster innovation.

4.2.10 Reduced Inequalities: End poverty and hunger, achieve food security and improved
nutrition and promote sustainable agriculture.

4.2.11 Sustainable Cities and Communities: Make urban areas inclusive, safe, and
sustainable by improving housing, transportation, and basic infrastructure, while addressing
environmental challenges.
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4.2.12 Responsible Consumption and Production: Promote sustainable consumption and

production patterns by reducing waste, managing natural resources responsibly, and
encouraging recycling.

4.2.13 Climate Action: Take urgent action to mitigate climate change and adapt to its
impacts by reducing greenhouse gas emissions and building resilience against climate-related
disasters.

4.2.14 Life Below Water: Conserve marine resources and ecosystems by addressing
pollution, protecting marine biodiversity, and ensuring sustainable fishing practices.

4.2.15 Life on Land: Protect and restore terrestrial ecosystems, combat deforestation and
desertification, and halt biodiversity loss to ensure sustainable use of natural resources.

4.2.16 Peace, Justice, and Strong Institutions: Promote peaceful societies by reducing
violence, ensuring access to justice, and building accountable institutions at all levels.

4.2.17 Partnerships for the Goals: Strengthen global partnerships for resource
mobilization, international cooperation, and capacity-building support to achieve the SDGs.

4.3 Details of the UN SDG which team has selected

Goal 10: Reduce inequality within and among countries

4.3.1 Target 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40
percent of the population at a rate higher than the national average.

● Target 10.1.1: Growth rates of household expenditure or income per capita among
the bottom 40 per cent of the population and the total population.

4.3.2 Target 10.2: By 2030, empower and promote the social, economic and political inclusion
of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other
status.

● Target 10.2.1: Proportion of people living below 50 per cent of median income, by
sex, age and persons with disabilities

4.3.3 Target 10.3: Ensure equal opportunity and reduce inequalities of outcome, including by
eliminating discriminatory laws, policies and practices and promoting appropriate legislation,
policies and action in this regard
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● Target 10.3.1: Proportion of population reporting having personally felt

discriminated against or harassed within the previous 12 months on the basis of a
ground of discrimination prohibited under international human rights law

4.3.4 Target 10.4: Adopt policies, especially fiscal, wage and social protection policies, and
progressively achieve greater equality

● Target 10.4.1: Labour share of GDP

● Target 10.4.2: Redistributive impact of fiscal policy

4.3.5 Target 10.5: Improve the regulation and monitoring of global financial markets and
institutions and strengthen the implementation of such regulations

● Target 10.5.1: Financial Soundness Indicators

4.3.6 Target 10.6: Ensure enhanced representation and voice for developing countries in
decision-making in global international economic and financial institutions in order to deliver
more effective, credible, accountable and legitimate institutions

● Target 10.6.1: Proportion of members and voting rights of developing countries in

international organizations

4.3.7 Target 10.7: Facilitate orderly, safe, regular and responsible migration and mobility of
people, including through the implementation of planned and well-managed migration policies

● Target 10.7.1: Recruitment cost borne by employee as a proportion of monthly

income earned in country of destination

● Target 10.7.2: Number of countries with migration policies that facilitate orderly,
safe, regular and responsible migration and mobility of people

● Target 10.7.3: Number of people who died or disappeared in the process of

migration towards an international destination

● Target 10.7.4: Proportion of the population who are refugees, by country of origin

4.3.8 Target 10.a: Implement the principle of special and differential treatment for developing
countries, in particular least developed countries, in accordance with World Trade Organization
agreements

● Target 10.a.1: Proportion of tariff lines applied to imports from least developed
countries and developing countries with zero-tariff
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4.3.9 Target 10.b: Encourage official development assistance and financial flows, including
foreign direct investment, to States where the need is greatest, in particular least developed
countries, African countries, small island developing States and landlocked developing countries,
in accordance with their national plans and programs.

● Target 10.b.1: Total resource flows for development, by recipient and donor
countries and type of flow (e.g. official development assistance, foreign direct
investment and other flows).

4.3.10 Target 10.c: By 2030, reduce to less than 3 per cent the transaction costs of migrant
remittances and eliminate remittance corridors with costs higher than 5 per cent

● Target 10.c.1: Remittance costs as a proportion of the amount remitted

4.4. Rationale for choosing the specific UN SDG:

Reduced Inequalities for a fintech company align well with addressing disparities in
marginalized groups like rural entrepreneurs, women, and gig workers and promotes inclusive
development by:

4.4.1. Bridging Financial Gaps: Low-cost remittance services, micro-loans, and other
custom-designed financial products all add to improving access to financial systems for these
underserved communities.

4.4.2 Producing for/with marginalized groups: products for rural entrepreneurs, women,
and gig workers, enabling economic growth, gender equality, and income stability.

4.4.3 Narrowing Income Inequality: Cheap credit and lower remittance costs reduce
regional and socioeconomic wealth disparities.

4.4.4 Aligning with Policies and Trends: This approach is in tandem with global priorities
such as SDG target 10.c (reduction in remittance costs) and responds to the increasing need
for inclusive financial solutions within emerging markets.

4.4.5 Improving Impact and Reputation: Focus on SDG 10 enhances the social
responsibility credentials of the company while demonstrating tangible contributions toward
reducing inequalities.
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5. Company Overview

EqualAccess Fintech is an equity-driven financial institution fusing cutting-edge technology with

deep commitment to equity. Innovative financial products are provided to bridge gaps within and
among countries, such as low-cost remittance services, micro-credit for the underserved, and
tools for financial literacy. It creates an ecosystem that fosters inclusion, reduces disparities, and
accelerates economic development by using blockchain, AI, and mobile-first solutions.

5.1 Logo

Image 01: Logo

Source: Authors

Meaning Behind the Logo

● Hexagonal Pattern and Dome Shape:

The hexagons represent interconnectivity, wholeness, and working together, which

speaks towards the goal of the company creating a network all over the world devoid of
financial limitations The dome shape creates a feeling of protection and inclusive
coverage, very much in line with the company’s aspiration of creating a place where
nobody is discriminated against because of economic limitations.

● Black and Gradual Fade:

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The dark hexagons meeting the gentle gradient background on the edges together signify
actively working towards making a change which is of relevance to the company’s vision
of building financially sustainable societies.

● Typography:

An innovative and pioneering vision, one of the company values, is embodied in a

modern and well-balanced font. By placing “Equal Access” at the center of attention, it’s
understood as the main focus of the significance of equity and access.

● Gradient Background (Yellow to Blue):

Yellow brings forth positivity, creativity and potential whereas blue is representative of
credibility, reliability, and inclusiveness; so desirable in the realm of fintech.

Importance of the Logo for the Company

● Intellectual Property: As a visual depiction of the brand, an emblem is an essential part of

the identity of the company and makes it easy to remember.
● Core Values: Integrating seamlessly, it inherently portrays the company’s values of equal
opportunities, the importance of technology and the strive for greater financial inclusion.
● Inspiration: It strengthens the mission of bridging financial gaps and inspires trust in
customers and partners by showcasing a thoughtful and professional design.

5.2 Mission Statement

Empowering the disadvantaged people and communities through innovative, accessible and
affordable financial solutions, to overcome inequalities within and between the countries, for
more inclusive and sustainable economic growth and development.

5.3 Vision Statement

Building a world in which financial barriers are abolished. All people have access and
opportunities to participate and gain from the global economy.

5.4 Value Statement

● Equity: equal opportunities without any discrimination of location, sex, or income in the
attainment of financial resources.
● Empathy: Understanding and responding to the needs of underrepresented populations.
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● Innovation: Using technology to create impactful and scalable financial solutions.

● Transparency: Building trust through open, ethical, and responsible operations.
● Sustainability: Focusing on long-term social, economic, and environmental impact

5.5 Core Offerings

● Accessible Border-Crossing Remittances: Painless, instant transfers to migrant workers.

● Inclusive Credit Access: Micro-financing and business lending to rural small-scale
entrepreneurs, women, and marginalized peoples.
● Saving and Insurance Offerings: Tools for Low-Income Families
● Financial Capability Programs: Multi-lingual, gamified interfaces to help users empower
themselves
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6. External & Internal Stakeholders

6.1 Internal Stakeholders

6.1.1 Employees

● Role: Push innovation, service, and the operational wheels to move

● Reason: All their expertise, ethics, and sense of purpose immediately affect the
company's overall performance.

6.1.2 Founders and Leadership Team

● Role: Set strategy, vision, and direction; align with UN SDG No. 10.
● Reason: Their leadership is the foundation of the company's purpose-driven culture.

6.1.3 Investors and Shareholders

● Role: Fund and oversee finances.

● Reason: As the primary financiers, they have a direct interest in financial returns
and the social impact of the company.

6.2 External Stakeholders

6.2.1 Customers (Underserved Populations)

● Role: Beneficiaries of the financial services, including micro-loans, remittances, and

educational tools.
● Reason: Their coverage and success are the bottom lines of the impact of the firm.

6.2.2 Partner Organizations (NGOs, Microfinance Institutions, and Governments)

● Role: Outreach, implementation, and compliance in regulation

● Reason: These offer local know-how, physical infrastructure, and trust to help
achieve outreach into vulnerable populations.
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6.2.3 Technology Providers and Fintech Ecosystem

● Role: Provide technology infrastructure such as blockchain and AI to facilitate

seamless operations.
● Reason: They ensure solutions are technically viable and scalable.

6.2.4 Regulatory Authorities

● Role: Granting licenses, monitor and ensure operational ethicality

● Reason: They are significant for lawfulness and acceptance of operational
processes.

6.2.5 Migrant and Gig Worker Communities

● Role: Consumers of remittance services and credit products.

● Reason: The needs of the consumers drive the companies' products offerings

6.2.6 Global Development Organizations (example the UN and World Bank)

● Role: Partner in whose work supports the overall purpose

● Reason: They increase company acceptability as well as facilitates funds as an
incentives data source as well as collaboration.
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7. Communication Strategies for Reducing Inequality (SDG 10)

Overall Objective: Promote EqualAccess Fintech's commitment to reducing inequality (SDG 10)
by engaging both internal and external stakeholders in a comprehensive and impactful way.

7.1 Internal Stakeholders

Goal is to create awareness, alignment, and inspire action among employees towards SDG10.

7.1.1 Communication Channels:

● Intranet Portal:

To promote Sustainable Development Goal 10 (SDG 10) – reducing inequalities – a

dedicated section can be developed that serves as a comprehensive resource hub and
engagement platform. This section would include a curated collection of educational
materials, such as case studies, videos, and policy documents, to deepen understanding
and foster awareness of the challenges and opportunities in financial inclusion. It would
also feature success stories that highlight the transformative impact of various initiatives
aimed at reducing inequalities, inspiring others to contribute. To enhance user interaction,
interactive tools such as progress trackers and feedback surveys would provide actionable
insights and encourage active participation. Additionally, integrating gamification
elements, such as awarding badges or offering incentives for completing training or
participating in SDG-related activities, would create an engaging and rewarding
experience, motivating users to contribute more effectively to achieving the goals of SDG
10.

● Interactive Workshops & Training:

To strengthen employees' understanding of their roles in advancing Sustainable

Development Goal 10 (Reducing Inequalities), bi-monthly workshops can be conducted,
focusing on topics such as financial literacy for underserved groups and the role of
technology in bridging inequality. These sessions aim to empower employees by
equipping them with knowledge and fostering a sense of purpose that aligns with the
company’s mission. By highlighting the tangible impact of their contributions, the
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workshops create a more engaged workforce, united in driving inclusive growth and
social equity.

● Digital Newsletters (Monthly):

The latest updates on Sustainable Development Goals (SDG) initiatives, including

impactful employee contributions and valuable leadership insights, are now available for
review. These updates also highlight upcoming activities, ensuring everyone stays
informed and engaged with our collective progress. To access this information,
employees can conveniently use their email or visit the intranet portal, fostering seamless
connectivity and collaboration across the organization.

● Leadership Engagement Forums (Quarterly):

Leadership plays a pivotal role in driving progress by actively sharing updates and
milestones while recognizing the valuable contributions of employees. This approach
fosters a culture of accountability and transparency, ensuring that individuals feel
informed and empowered. By involving employees in strategic discussions, leadership
not only encourages engagement but also builds a sense of ownership and collaboration,
creating a workplace where everyone is aligned toward shared goals and motivated to
succeed.

7.1.2 Rationale:

The intranet portal plays a pivotal role in ensuring accessibility and inclusivity, allowing
employees to easily access resources and stay connected with the organization. Complementing
this, interactive workshops enhance understanding and participation, providing opportunities for
hands-on learning and skill development. Newsletters serve as a vital tool to keep employees
informed, engaged, and motivated, offering updates and insights that foster a sense of
community and purpose. Leadership forums further strengthen this dynamic by creating
alignment between organizational goals and individual contributions, ensuring that each
employee feels valued and connected to the broader mission of the company. Together, these
elements create a cohesive environment that promotes collaboration, growth, and shared success.

7.1.3 Prototype Ideas:

The newsletter and intranet interface should both prioritize user engagement and accessibility.
The newsletter can be designed in a vibrant, user-friendly format, incorporating visuals such as
charts and testimonials to make the content more engaging and easier to digest. It should
highlight key updates, success stories, and important announcements. Meanwhile, the intranet
interface should be intuitive, featuring quick access to vital resources like announcements,
learning materials, and an SDG tracker, allowing users to stay informed and track progress
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effortlessly. Both platforms, when aligned, create a cohesive digital environment that fosters
communication, learning, and growth within the organization.

7.2 External Stakeholders

Goal is to engage customers, NGOs, partners, and communities to advance SDG 10 initiatives.

7.2.1 Communication Channels:

● Social Media Campaigns:

To effectively engage diverse audiences, the focus should be on platforms like LinkedIn
for corporate outreach, Instagram for community building, and Twitter for global
conversations. Content should include impactful videos showcasing beneficiary stories,
such as migrant workers benefiting from remittance services, and visually appealing
infographics explaining reduced remittance costs. The use of hashtags like
#ReduceInequality and #FinanceForAll will help amplify the message and foster broader
engagement.

● Partnerships with NGOs and Influencers:

Partnering with NGOs to enhance financial literacy programs in underserved areas will
drive meaningful impact and extend the reach of initiatives. Additionally, engaging
finance and social impact influencers can amplify awareness, leveraging their platforms
to promote inclusivity and the importance of accessible financial services.

● Community Outreach Events:

Organizing financial literacy camps, microcredit seminars, and free consultations in rural
areas can empower underserved communities with essential knowledge. Complementing
these efforts with on-ground demonstrations of financial tools and distributing
promotional materials will enhance understanding and encourage adoption of financial
services, fostering trust and inclusivity.

● Storytelling Through Case Studies:

Publishing success stories on external platforms such as blogs, newspapers, and partner
websites can effectively showcase impact and build credibility. These stories highlight
real-life outcomes, inspire trust among stakeholders, and enhance the organization's
reputation as a catalyst for positive change.

7.2.2 Rationale:
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Social media provides a cost-effective platform for wide-reaching, targeted messaging to engage
diverse audiences. Partnering with NGOs leverages local trust and infrastructure, ensuring
initiatives resonate with communities. Outreach events foster direct relationships with target
audiences, while storytelling personalizes the impact, creating emotional connections with
stakeholders and reinforcing the organization's mission.

7.2.3 Prototype Ideas:

A social media post featuring a carousel of images or slides showcasing a rural entrepreneur’s
microcredit success story can effectively highlight the transformative power of financial services.
This content will resonate with audiences by humanizing the impact and fostering engagement.
Additionally, an event brochure should be visually appealing, incorporating clear, compelling
design, and translated into local languages to ensure inclusivity and accessibility for diverse
audiences.

7.3 Combined Stakeholder Engagement

Goal is to promote SDG 10 initiatives with a unified approach that engages both internal and
external stakeholders.

7.3.1 Communication Channels:

● Corporate Website with Public Dashboard:

A live dashboard displaying SDG 10 metrics, such as financial inclusion numbers, cost
reductions, and success stories, provides real-time transparency and highlights the
organization's progress. Interactive features will allow users to explore regional data,
offering a more personalized experience, and enabling real-time updates that showcase
the ongoing impact and encourage engagement with stakeholders.

● Monthly Webinars:

Panel discussions featuring internal leaders, NGO partners, and beneficiaries will serve as
a platform for sharing insights and fostering collaboration. Topics like innovations in
reducing financial inequality and the role of fintech in underserved markets will be
explored in depth. To enhance engagement, Q&A sessions and live polls will be
incorporated, encouraging audience interaction and providing real-time feedback to
deepen understanding and drive meaningful conversations.
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● Annual Reports:

A dedicated section focusing on achievements, challenges, and future plans related to

SDG 10 will offer transparency and showcase the organization’s commitment to financial
inclusion. These insights can be shared through detailed reports, which should be
distributed to employees, investors, and external partners to keep all stakeholders
informed, aligned, and engaged in the organization’s ongoing efforts to reduce inequality
and promote inclusive growth.

● Employee-Driven External Campaigns:

Encouraging employees to share their personal contributions to SDG 10 initiatives on

LinkedIn or internal blogs will help build a narrative of collective impact. This not only
boosts employee engagement but also showcases the organization's commitment to
inclusivity, fostering a sense of pride and ownership. Sharing these stories publicly
strengthens the organization's reputation and inspires others to get involved in driving
social change.

7.3.2 Rationale:

A website dashboard enhances transparency, building trust with both internal and external
audiences by offering real-time insights into progress and impact. Webinars serve to strengthen
partnerships and promote knowledge sharing among stakeholders. Annual reports provide a
comprehensive view of achievements and accountability, ensuring the organization remains open
and responsible. Employee campaigns highlight the human side of corporate impact, showcasing
personal stories and fostering greater engagement from both employees and the wider
community.

7.3.3 Prototype Ideas:

The dashboard should feature a clean, user-friendly interface with dynamic graphs and regional
statistics to present data clearly and engagingly. This design allows users to easily navigate
through key metrics, explore regional performance, and gain real-time insights, fostering a
deeper understanding of progress and enhancing the transparency of the organization's efforts.
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8. References

1. Expert Market Research. (n.d.). Remittance market report. Retrieved December 16, 2024,
from https://expertmarketresearch.com/reports/remittance-market
2. The Business Research Company. (n.d.). Remittance market size 2024 and forecast 2028.
Retrieved December 16, 2024, from
https://www.thebusinessresearchcompany.com/report/remittance-global-market-report
3. Transforming our world: the 2030 Agenda for Sustainable Development | Department of
Economic and Social Affairs. (n.d.). https://sdgs.un.org/2030agenda
4. WorldBank. (n.d.). World Bank Group - International Development, Poverty and
Sustainability. https://www.worldbank.org/
5. Statista. (n.d.). Fintech - India. Retrieved December 16, 2024, from
https://www.statista.com/outlook/dmo/fintech/india
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9. Exhibit
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Image 02: Newsletter

Source: Authors

Image 03: Twitter Thread

Source: Authors
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Image 04: Instagram Posts

Source: Authors
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Image 05: Website

Source: Authors