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> Posted by Danielle Piskadlo, Director, Investing in Inclusive Finance, CFI

It may have been the worst-timed joke ever.

At an Uber all-hands meeting for the company’s 12,000 staff to announce how the board planned to address the findings of an investigation that confirmed Uber’s toxic workplace culture and serious instances of sexual harassment, Arianna Huffington, the lone woman on the board, noted that a second woman would be added to the board as one part of the response. “There’s a lot of data that shows when there’s one woman on the board, it’s much more likely that there will be a second woman on the board,” said Huffington. That’s when investor David Bonderman, another member of Uber’s board, blurted, “Actually, what it shows is that it’s much more likely to be more talking.” He claimed to be trying to lighten the mood, but in the firestorm of criticism that followed his ill-considered remark, he quickly resigned from the board.

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> Posted by Sonja Kelly, Director of Research, CFI

WeBank started piloting facial recognition for KYC (“know your customer”—verifying that a customer is who they say they are) last year—we heard about it when we talked with Jared Shu, a partner with McKinsey, as part of our deep dive about the different ways banks pursue financial inclusion. At that point, the technology was mere possibility, with some question about whether the regulator would allow it. Now, it seems, facial recognition is indeed serving as a form of identity in China. With the help of technology, customers can quite literally authorize a transaction using their face.

Alipay, a mobile payment app launched by Alibaba in 2004 and used by 120 million people in China, is partnering with Face++ (pronounced “face plus plus”) to allow people to use their face as a credential to make payments. The technology is a natural extension of using a fingerprint to verify a person’s identity, and it is far more secure than just comparing a signature on the back of a credit card to a signature on a receipt.

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> Posted by Danielle Piskadlo, Manager, Investing in Inclusive Finance, CFI

Growing up, my father fixed cars in exchange for payment in whatever form his customers could afford – granite tables, sheep skin rugs, and so on. In our town, he was the king of barter. Unfortunately, it was rather difficult for my mother to re-barter these items for things our family actually needed, like food and clothes. The system was limited in participants and so in utility. But thanks to the internet, the art of barter is back.

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