Financial Inclusion

The financial services industry has much to contribute to the UN and World Bank goal of full financial inclusion by 2020. This group will focus on industry contributions, ideas, barriers and enablers.

Abe Karar Chief Product & Innovation Officer at Fintech Galaxy

How inclusive is the concept of Financial Inclusion in the era of Open Banking/Finance

Financial Inclusion is high on the global Open Banking/Finance agenda. Nevertheless, it seems to have failed to a certain extent to deliver on this metric in some jurisdictions worldwide. However, instead of criticizing, let's investigate some examples and highlight some key lessons learned. First, it's essential to understand that Financial Inc...

22 August 2022 /payments /people

David Ritter Director, Financial Services Strategy at CI&T

Why digitisation is a game-changer for financial inclusion

One customer segment that has been historically neglected by the financial services sector is the so-called “unbanked” and “underbanked”. The unbanked are people who don’t use any banking services, including debit cards, current accounts, and savings accounts. Meanwhile, underbanked consumers use some type of bank account, but don’t have regular a...

10 June 2022 /people /inclusion

Aurélie L'hostis Principal Analyst at Forrester Research

The Time To Act On Inclusive Finance Is Now

“Soy mayor, no idiota” — “I’m old, not an idiot.” That’s the headline of a Change.org campaign launched by Carlos San Juan, a 78-year-old Spaniard who argued that the closure of bank branches and the forced migration of customers to digital banking were sidelining elderly and vulnerable customers. The petition, which asked for more consideration a...

17 May 2022 /retail /inclusion

Alessandro Hatami Managing Partner at Pacemakers.io

Inclusive Finance Manifesto

The most effective means to achieve economic and social welfare is our ability to earn a living. Earning a fair living is inexorably linked to our access to financial services. In order to get paid or to pay someone, to protect a bit of excess earnings, to borrow to buy a home or to fund a business, we all need access to a provider of financial se...

11 May 2022 /retail /sustainable

Retired Member 

Are financial services ready for Gen Z?

Facebook has a problem. Gen Z thinks it’s a stale old “boomer” platform. In 2012, 94% of teens had an account. A decade later, it’s thought only 27% of adolescents use the network. Last year, Mark Zuckerberg hastily announced attracting younger users should become its immediate north star. However, as its stock plunged $230 billion in a single d...

01 March 2022 /inclusion /markets

Amita Choudhary Marketing Manager at Princeton Growth Accelerator

International Money Transfer Services – 2021 Recap and Future Predictions

The global COVID pandemic has propelled payments, and specifically online and contactless transactions, into new highs. Based on McKinsey’s Global Payment Report for 2021, a “V shaped recovery” was witnessed in international money transfers after a relatively muted volume of transactions in 2020. McKinsey’s report estimates a 7% p.a. growth in gl...

03 February 2022 /inclusion

Mike Penner CEO at Lynx Global Digital Finance Corporation

How Fintech Companies are Solving the Unbanked Crisis

It goes without saying that the pandemic has changed our lives in profound ways. Everything from how we work to how we socialize has been altered completely. One of the many noticeable changes centers around how we bank and pay for the goods and services we utilize. As an example, in Canada, 2020 saw a 62% reduction in the usage of cash and 42% ...

28 January 2022 /inclusion

Dexter Penn CEO at Kalgera

12 Scams of Christmas

As Christmas Day fast approaches, many of us will be frantically last-minute shopping to ensure a Christmas to remember, not least after last year’s lockdown Christmas. Typically, UK households spend around £740 more than normal during the month of December, according to the Bank of England. While this is good news for the economy, it’s not so goo...

22 December 2021 /regulation /crime

Amita Choudhary Marketing Manager at Princeton Growth Accelerator

Easy ways to improve your financial privacy

In the modern world, we are all so used to our data being for sale that many of us do not even really evaluate the issue. However, while we might not mind our email address or name being on a marketing database, your financial data is far more important to keep private. That is why you should ignore the importance of financial privacy. Want to sto...

20 December 2021 /crime

Andrew Beatty Head of Wealth, Retirement & International at FIS

Digital Financial Inclusion: Why It Matters and What’s Driving Change

Financial inclusion is a major global challenge that can be difficult to define. However, most commentators agree that it begins with access to mainstream financial products. Jim Yong Kim, President of World Bank Group suggests, “Universal access to financial services is within reach – thanks to new technologies and transformative business models”....

02 December 2021 /retail /inclusion