The Interledger Foundation (ILF) has chosen the Alliance of Digital Finance and Fintech Associations (AllianceDFA) in partnership with Contigo Global LLC to be the first recipients of an Interledger Policy Activation Grant. This grant will enable them to lead a new global initiative to make Instant Payment Systems (IPS) more inclusive and accessible to fintechs and non-banks.
Instant Payment Systems are expanding quickly across the globe, offering opportunities to enhance efficiency, speed, and reach of digital financial services. However, their current design and governance often leave FinTechs and other Non-Bank inclusive finance actors at the margins. Without clear pathways to participate, these actors face persistent barriers:
- Limited technical and regulatory guidance on IPS integration.
- Lack of representation in decision-making and governance processes.
- Barriers to collaboration and sustainability, stemming from limited access to open standards and frameworks.
- Challenges of affordability and scale, restricting their ability to offer inclusive, innovative and affordable services to underserved populations.
These gaps ultimately slow progress toward broader financial inclusion, particularly for women, youth, rural communities, and people with disabilities – groups often reached most effectively by FinTechs and non-bank innovators.
The project will identify and document the challenges and successes that FinTechs and other Non-banks are experiencing in their markets, and will explore ways to strengthen the voice of inclusive finance actors in IPS governance, while identifying solutions to overcome the barriers that limit their integration and impact.
The project will deliver:
- A global assessment of FinTech IPS integration, shaped by interviews with FinTech associations and key stakeholders across Latin America, Africa, and Asia. This assessment will document both successes and challenges and provide actionable recommendations to improve market access.
- Identification of deeper solutions that can serve the global FinTech Ecosystem to Increase Inclusive Governance
- Membership growth and outreach to strengthen the AllianceDFA’s global representation, particularly in Latin America.
The research will be co-led by Sarah Corley, CEO of AllianceDFA, and Nandini Harihareswara, Digital Payments Expert and Founder of Contigo Global LLC. This partnership unites Sarah’s deep expertise in FinTech, ecosystems, and inclusive finance with Nandini’s global leadership in building inclusive, profitable, and scalable Digital Financial Services and Instant Payment Systems. Together, they bring a unique combination of vision and execution—linking innovative financial technologies with inclusive governance and real-world impact for marginalized communities, especially women.
“FinTech associations represent innovators who are closest to underserved populations and markets,” said AllianceDFA CEO, Sarah Corley. “For years, we’ve heard about the challenges FinTechs and non-banks face in accessing and participating in IPS. This grant allows AllianceDFA to amplify these voices and ensure IPS developments are inclusive, affordable, and designed to serve communities at the last mile. AllianceDFA is proud to be the first recipient of ILF’s Policy Activation Grant initiative.”
Nandini Harihareswara, Digital Payments Expert and Founder of Contigo Global LLC, shares: “This concept was borne of realizing that while ‘inclusive governance’ has long been embedded in the DNA of IPS initiatives, the reality is that smaller FinTechs often couldn’t plug into local IPS in the way global architects envisioned. This assessment begins to examine that disconnect—and more importantly, sources solutions directly from the very actors it affects. By addressing these barriers, we can unlock scalable, affordable, and innovative financial services that bring meaningful inclusion to those still left out.”
The Interledger Foundation collaborates with entrepreneurs, organizations, and governments to advocate for equitable access to financial systems and steward the interoperable technologies that power the Internet of Opportunity (IoO). Their support on this project reflects the growing recognition that open, interoperable, and inclusive payment systems are key to building equitable digital economies.
“Instant payment systems work best when they’re built with communities, not for them,” said Chris Lawrence, Chief Program Officer of the Interledger Foundation. “This grant helps us understand what organizations working closest to excluded communities are actually saying about instant payment infrastructure. What do new entrants need to connect? What does governance look like when you include the people doing the work? How do we prove these systems deliver real value to the 1.4 billion people still locked out of digital finance? Those are the questions this work seeks to understand better.”
About Interledger Foundation
The Interledger Foundation (ILF) is a mission-driven nonprofit ensuring that no one is left behind in the digital economy. They support inclusive innovation and financial infrastructure that connects people, communities, and entire economies globally. Learn more at https://interledger.org.
About AllianceDFA
The Alliance of Digital Finance and FinTech Associations (AllianceDFA) is a global network of digital finance and fintech associations, working to lead inclusive and responsible digital finance ecosystems. AllianceDFA harnesses this collective strength to shape enabling policy, drive cross-border collaboration, set industry standards, and scale capacity and impact. Learn more at www.alliancedfa.org
About Contigo Global LLC
Nandini Harihareswara is a global leader in Digital Finance and Inclusive Economies. Through her firm, Contigo Global LLC, she helps policymakers, regulators, and industry build Instant Payment Systems that are inclusive, profitable, and scalable—expanding access for marginalized communities, especially women. Learn more at: https://www.linkedin.com/in/nandini/