Leaf Global Fintech
- Social Enterprise
- Social Enterprise / Transformative Product/Service
- July 19th, 2018
Field of Work
Areas of Impact
OfferingProduct & Service
Leaf is a virtual bank that meets the short and long-term financial needs of vulnerable populations by enabling the storage and transport of assets across borders. The UN has designated over 68 million people as forcibly displaced, with another 100 million at risk of becoming displaced. Often the only option is to forfeit value or carry cash across borders when forced to flee, which is dangerous, inconvenient, and expensive. Refugees and migrants cannot safely store and transport assets across borders, making them targets in the short-term and economically excluded in the long-term.
By connecting people to their own savings conveniently and affordably, Leaf intervenes in the system that forces people to lose access to everything they’ve earned. Leaf stores and transports assets across borders through a mobile device—no smartphone required. Refugees and migrants can journey without cash, knowing accounts are safe and accessible globally. Friends and family abroad can contribute into the Leaf customer’s account. Leaf protects customers’ savings through blockchain technology plus biometric authentication without exposure to cryptocurrency. With Leaf, customers build the foundation for an economic identity.