> Posted by Sonja E. Kelly
The Center for Financial Inclusion at ACCION International has set an audacious commitment to build toward full financial inclusion by 2020. As part of this movement, we are starting a conversation on this blog. We look forward to what will come out of this.
In September, we began a series of roundtable discussions aimed at deepening the consensus around the steps to reach full financial inclusion by the year 2020. In each roundtable, experts from the microfinance industry consider the Center’s report on the “Opportunities and Obstacles to Financial Inclusion.” Participants include providers, investors, donors, regulators, academics, and other industry influencers.
With this post we are taking that process virtual and kicking off a blog series on financial inclusion.
We hope this series will deepen our understanding of financial inclusion, using the year 2020 as a target date to help galvanize our thinking, and exploring the implications of the Center’s definition of full financial inclusion:
Full financial inclusion is a state in which all people who can use them have access to a suite of quality financial services, provided at affordable prices, to clients who are financially capable, in a convenient manner, and with dignity for the clients. Financial services are delivered by a range of providers, most of them private, and reach everyone who can use them, including disabled, poor, and rural populations.
We will also begin to build out the items on the action agenda that emerged from the Center’s survey of 301 key stakeholders in the microfinance industry:
- Financial education
- Product range, informed by understanding client needs
- Technology-enhanced delivery channels
- Credit bureaus
- Client protection
- Institutional capacity building
- A sound regulatory framework
For each of these points we want to discuss: What actions are most strategic? What are the biggest problems in each area that need to be solved? Which actors will make the biggest contributions? Please join us here in the coming weeks for this virtual roundtable about what financial inclusion is and how to achieve it.
For more information, sign up for updates from the Financial Inclusion 2020 campaign.
Have you read?
Financial Inclusion by 2020? Five Global Trends That Will Shape the Answer
Voices of Financial Inclusion: ‘It’s the Clients, Stupid’
How About Full Financial Inclusion in 8 Years, 2 Months, and 25 Days?