# NAAC-Talino wins in FDIC's tech sprint! | Talino Venture Labs

- Canonical URL: https://wefunder.com/feed/148574
- Entity ID: wefunder:feed_item:148574
- Published at: 2021-09-13 16:45:38 UTC
- Updated at: 2025-07-09 03:20:51 UTC

## Author
Nina Terol

## Subject
Talino Venture Labs

## Content
After two grueling months from the time the Federal Deposit Insurance Corporation (FDIC) launched its tech sprint called "Breaking Down Barriers: Reaching the Last Mile of the Unbanked", Demo Day arrived and with it, the opportunity to showcase NAAC-Talino's solution for unbanked communities in the United States.Our prototype--an intuitive and mobile-first digital social borrowing platform--gives small businesses access to much-needed credit at more affordable rates while allowing them to build up their credit scores and become more responsible borrowers. This platform is inspired by a tried-and-tested model popularized by the Nobel Peace Prize-winning Dr. Muhammad Yunus in the 1970s, and now uses technology to introduce financial literacy along with ease-of-use. The NAAC-Talino team won in the Market Readiness Category, which answered the question, "How long would it take to bring the approach to market and have users adopt the solution?"Responding to the win, Talino CEO Winston Damarillo said, "Social borrowing circles have been tried and tested in emerging markets for half a century now, popularized by the Grameen Bank in Bangladesh and scaled worldwide. We’ve also proven it to work in the Philippines, where repayment rates average 99%, aided by a strong social network and now accelerated by technology. NAAC-Talino’s win in the market readiness category shows that our work in emerging markets can also address the financial inclusion gap in the US, given that we have 68 million unbanked adults closer to home. While we’ve been exporting ideas from Silicon Valley out to the world, there’s also an opportunity for us to bring in ideas from emerging economies to enable economic inclusion and mobility for more Americans.” Read more from the FDIC hereStay tuned for more news on this and other milestones through Talino's LinkedIn page!