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Seizing the Moment: On the Road to Financial Inclusion

Financial Inclusion 2020 Synthesis Report (PDF)

October 2013
Can the world achieve global financial inclusion by 2020? Throughout 2013 the many participants in FI2020 came together in asking this question to build a shared vision for the future of financial inclusion and develop a common roadmap guiding how to achieve it. In this report, with the insights from this collaboration, we look at what financial inclusion is, why it matters, and why we’re confident it can be achieved in the foreseeable future.


Roadmap to Inclusion


What will it take to achieve a state of full financial inclusion? In 2011, the Center for Financial Inclusion asked this question in a global survey, and over 300 practitioners gave their perspectives on the key opportunities and obstacles to financial inclusion.

Based on the responses, the Center identified five priority focus areas that are key to achieving financial inclusion. We have used these five areas as the basis for a broad consultative process toward a Roadmap to Full Financial Inclusion. This process engaged dozens of experts and industry participants in developing an action-oriented blueprint for reaching new and underserved markets. The five focus areas are:

  • Addressing Customer Needs, chaired by Consultative Group to Assist the Poor (CGAP), focuses on deepening our understanding of client needs and translating that knowledge into practice while expanding the range of financial services available to underserved markets
  • Technology-Enabled Business Models, chaired by Visa, Inc. analyzes the potential of new technology-intensive channels to reach new customers, lower operating costs, increase security, and diversify financial products available to low-income clients.
  • Financial Capability, chaired by Citi, focuses on empowering clients to know their rights as consumers, and have the skills, attitudes, aspirations, and confidence to exercise those rights.
  • Client Protection, chaired by the Smart Campaign, outlines steps to deepen the implementation of client protection measures for the benefit of consumers and stability of markets.
  • Credit Reporting, chaired by International Finance Corporation (IFC), promotes extending credit reporting systems in order to expand access for new clients while managing risk for financial institutions. 

Each of the five working groups has crafted a roadmap that asks: What is the vision for this topic? What stands in the way of achieving the vision and where are the greatest opportunities? What are the enabling actions and corresponding actors who can advance the vision? 

Click on the focus area links above to read each Roadmap.

FI2020 Roadmap Principles 

Working Group Members

Financial Capability

Jasmine Thomas, Citi Foundation (Chair)

Anita Gardeva, Center for Financial Inclusion (Facilitator) 

Judy Chapa, The Financial Services Roundtable

Monique Cohen, Microfinance Opportunities/Independent Advisor

Sarah Gordon, Center for Financial Services Innovation

Martin Hintz, Allianz

Solana Cozzo, MasterCard Worldwide

Richard Hinz, Consultant, U.S.

Claire Innes, U.K. Department for International Development 

Ida Rademacher, The Corporation for Enterprise Development

Robyn Robertson, Microfinance Opportunities

Beniamino Savonitto, Innovations for Poverty Action

Andrea Stiles Pullas, AVAL Consulting

Addressing Customer Needs

Alexia Latortue, most recently, Consultative Group to Assist the Poor (CGAP) (Chair)

Anita Gardeva, Center for Financial Inclusion (Facilitator)

Asad Mahmood, Global Social Investment Funds, Deutsche Bank

Roy Hynes, MasterCard Worldwide

Olga MorawczynskiGrameen Foundation

Camilla Nestor, Grameen Foundation

Evelyn Stark, MetLife Foundation

Graham Wright, MicroSave

Nicole Zimmermann, Western Union

Technology-Enabled Business Models

Bill Gajda, Visa Inc. (Chair)

Loretta Michaels, HMS Wireless Consulting (Facilitator)

Claire Alexandre, Vodafone

Arjuna Costa, Omidyar Network

Mireya Almazan, GSMA

Seema Desai, GSMA

Thor Hauge, Western Union Digital

Sal Karakaplan, MasterCard Worldwide

David Porteous, Bankable Frontier Associates

Stephen Rasmussen, Consultative Group to Assist the Poor (CGAP)

Narda Sotomayor, SBS Peru

John Staley, Equity Bank

Sal Karakaplan, MasterCard Worldwide

Credit Reporting

Tony Lythgoe, International Finance Corporation (Chair)

Anita Gardeva, Center for Financial Inclusion (Facilitator)

Syed Mohsin Ahmed, Pakistan Microfinance Network

Joachim Bartels, Business Information Industry Association

Cecilia Bouras, Western Union

Neil Munroe, Association of Consumer Credit Information Suppliers/Equifax

Cornelio Pimentel, Consultant, Brazil

Michael Turner, The Policy and Economic Research Council

Client Protection

Elisabeth Rhyne, Center for Financial Inclusion (Co-Chair)

David Grace, Consultant U.S. (Co-Chair)

Michael Burbano, Ecuador

Michael Chapman, Organisation for Economic Co-operation and Development

Johanna Jaeger, World Bank

Brigitte Klein, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)

Ashok Narain, Consultant, India

Karen Niederkohr, Consultant, U.S.

Andrew Pospielovsky, Consultant, Egypt

Clifford Rosenthal,  U.S. Consumer Financial Protection Bureau

Outreach partners

CARE International - UK • Cherie Blair Foundation for Women • Child and Youth Finance International • G3 ICT Initiative • LeapFrog Investments • Making Cents • Microcredit Summit Campaign • Microinsurance Network • SEEP • United Nations Capital Development Fund

FI2020's Roadmap to Inclusion is generously supported by Visa, Inc.