What becomes hard after financial inclusion works

Scaling inclusion often creates secondary product challenges around trust and behaviour

Read more about the patterns we see emerging once inclusion-led fintechs reach meaningful scale

We publish short papers like this to connect what organisations say publicly about their goals with patterns we’ve seen, drawing on public commentary and cross-market experience.

Read the 2-page brief

Stori’s public focus on serving underbanked customers at scale reflects a broader shift across Latin American fintechs: access is no longer the constraint - sustained engagement is.

  1. In markets where inclusion-led fintechs reach millions of users, the hardest problem often becomes reinforcing positive financial behaviour beyond the first touch point.

  2. Across Africa and MENA, similar platforms have found that community-based savings behaviours help stabilise usage, trust, and long-term customer value.

  3. This is the category of challenge that typically emerges after credit and payments are working, not instead of them.

We are available for a 20-minute exploratory discussion

We’ve seen Circles improve financial inclusion across Africa, MENA, and South America

Hear from one of our clients - CEO of Carbon Bank in Nigeria - explaining what it’s like to work with our Circles team

The Team

  • Lucy Mullins

    Co-Founder & COO

    All about the People

    Lucy has 20 years experience working in education and finance at the University of Oxford and HSBC. Lucy was named Fintech Champion of the Year in the Women in Finance Awards 2020 and Innovator of the Year at the Women in IT Awards 2020.

  • Matthew Addison

    Co-Founder & CEO

    All about the Finance

    Matthew started StepLadder to make a lasting positive social impact through collaborative finance, which he studied at Wharton. Matthew has spent nearly 20 years in finance and investments at firms including Goldman Sachs and Cheyne Capital.

  • Dmitriy Portnyagin

    Head of Product

    All about the Technology

    Dmitriy is a seasoned product manager, having helped grow multiple B2C and B2B startup customer journeys. He began his career at PWC and Intuit. Dmitriy heads up the development team, ensuring the smooth transition of the software for new clients.

  • Bella Percy-Hughes

    Head of Marketing

    All about the Marketing

    Bella is a brand strategist, marketer and designer who led the launch of a variety of high-growth consumer businesses into UK markets. Bella has extensive experience in paving the way for emerging products and trends to break into new sectors.

  • Sarah Garrett

    Head of Membership Communities

    All about the Community

    Sarah refined her operational and organisational expertise at Adare International and Royal Mail. Sarah heads up the Membership team in the UK, creating a slick community-based ecosystem for us to learn from and experiment in.

  • Tristan Comley

    Chief Technology Officer

    All about the Product

    Tristan is an accomplished product and technology leader with a track record in fintech innovation. As Chief Technology Officer at Circles powered by StepLadder, Tristan designs and delivers robust digital savings circle platforms for markets worldwide.