We are happy to share with you The Business of Financial Inclusion: Insights from Banks in Emerging Markets, a new report produced by the Center for Financial inclusion in partnership with the Institute of International Finance (IIF). This paper explores the role of banks in financial inclusion, drawing from in-depth interviews with 24 national, regional and global institutions located in 19 countries. The bankers we talked with described their financial inclusion strategies and identified the most important challenges they face as they offer greater access to previously excluded populations.
According to the World Bank’s Global Findex database, over 90 percent of the 721 million new accounts between 2011 and 2014 were opened at financial institutions—the vast majority of them banks. Thanks to advances in technology, banks can design viable business models to serve unbanked and underbanked populations that were previously too difficult to reach.
This research examines the motivations behind financial inclusion at banks as well as specific strategies in areas such as technology, data, partnerships, financial capability and other issues.
To download the report click on the link above.
Source: Courtesy of Center for Financial Inclusion at Accion
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