1. Tell us more about what you do and how your role or project is making an impact. How do they support the SDGs?
I’m the Chief Executive Officer of in/PACT, a company dedicated to growing the world’s heart by enabling charitable giving via digital banking and brand loyalty programs. By enabling all Americans participating in the US banking system, the ability to give via Online Banking, Mobile Banking and/or by allocating loyalty points, non-profits gain access to more donors and more donations. in/PACT’s charitable giving platform, that integrates into a financial institution’s digital and loyalty platforms, provides access to over 1.2 million charities, including those focused on ending poverty, protecting the planet, promoting peace and fostering prosperity.
2. Why do you see Fintech and/or Blockchain in particular as an important enabler in creating a social impact?
Today, ‘giving’ in the US is highly episodic and sporadic and has yet to be truly digitized. Over 70% of Americans give to the tune of almost $300 billion every year yet 57% of those donations occur via cash and check. It’s clearly time for financial institutions and loyalty providers to make giving easier. in/PACT’s GoodCoinTMfintech is available as a white-labeled platform and/or with APIs. In addition to ‘giving’ being ripe for digitization, the entire giving experience deserves a better donor experience. We’ve created an interactive platform that allows the donor to search over 1.2 million US charities, by name, type or location, including hyper-local. A complete description and evaluation of the charity is available with the ability to save favorites, donate, make recurring donations, post to social media, keep track of donations and then get a tax receipt. The financial institution or loyalty program provider can customize the landing page with featured charities and disaster relief, matching & round-up campaigns, bringing their community foundation efforts full-circle to their customers.
3. What are some challenges you face along the way?
in/PACT’s GoodCoinTM platform is transformative technology. Financial institutions are challenged to humanize digital banking and all brands need to invigorate loyalty. The biggest challenge is spurring awareness and then ensuring proper focus on donor penetration, adoption and usage.
4. What more do you think is needed in the ecosystem to support and facilitate creating a greater social impact?
I believe it’s an imperative for all financial institutions to support the communities they serve. Why financial institutions? Because money is the center of the economy and to make a greater social impact, non-profits need monetary support to achieve their respective missions. Financial institutions have a long standing commitment to giving back but it’s time to take that full-circle to their customers or members.
5. What do you hope to see or achieve in 10 years’ time?
Great question! I would like to see 95% of all US financial institutions enabling digital charitable giving for their customers, followed by 90% of every customer giving annually, and a large subset giving monthly. And, in terms of loyalty programs, every program should provide a charitable giving option. In both scenarios, I think it’s important to provide the consumer with the ability to choose where to donate, at a national or local level, and to provide an optimal digital giving experience. in/PACT ultimately will expand its capabilities globally. Simply, by making giving easier and a positive experience, non-profits benefit and can better fulfill their missions, resulting in the world’s heart growing exponentially.
This interview is part of a series of interviews featuring Fintech influencers who are doing work that advances our efforts in achieving the Sustainable Development Goals.
LATTICE80, in collaboration with FinTech4Good, presents the complete list of Top 100 Fintech for SDG Influencers who are leveraging the power of fintech and blockchain technology to create a positive impact on the future. LATTICE80 is launching our accelerator programme based in Hong Kong to help SDG-focused startups build blockchain solutions. Are you a SDG-focused startup? Click here to indicate your interest.
Disclaimer: The interviews are published on a rolling basis and the order by which they are published by no means representative of any rankings.