Fidor and IFC Partner to Expand Digital Financial Inclusion in Developing Markets
The IFC and Germany-based Fidor have signed a memorandum of understanding (MOU) to identify financial institutions and partners to launch and enhance digital bank partnerships in developing regions. The IFC works with more than 2,000 businesses worldwide and is a part of the World Banking Group. Last year, the organization delivered a record USD 19.3 billion in long-term financing for developing countries to help end poverty. Under today’s agreement, the effort will leverage the Fidor Operating System (fOS), an API that delivers digital banking services at a low cost, and will take advantage of Fidor’s expertise in launching a bank.