• Singapore
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 11, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Bank-Genie Pte Ltd
The holder of the loan, grant, or other investment.
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.42 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Dec 17, 2020

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Project Description

According to the bank's website, "FMO has initially invested in the Company in 2017, topping up its commitment in 2019, via the SBI Emerging Asia Financial Sector Fund, to help finance the Company's growth. In 2020 FMO transferred its stake, becoming a direct shareholder in Bank Genie."

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • Bank-Genie Pte Ltd (Client)

According to FMO, "Bank Genie is a fintech start-up based in Singapore with their R&D- and back office in India. Founded in 2016, the Company develops software systems for banks and other financial institutions. They currently have operations in various African countries like Kenya, Sierra Leone, Ghana and Asian countries like Philippines, Myanmar, and Kazakhstan. Bank Genie's software solution allows financial institutions to open virtual retail branches, offering a full range of banking services, without the need for a brick and mortar branch."

Contact Information

No contact information provided at time of disclosure.


Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: