FI2020 Week Recap #1

> Posted by Center Staff

FI2020 Week is a global conversation on the key actions needed to advance financial inclusion, grounded in the findings of the recently launched FI2020 Progress Report. From November 2-6, 2015, stakeholders around the world are participating in more than 30 events and sharing their voices over social media, with #FI2020.

We’re two days in! FI2020 Week thus far has been a whirlwind few days, with events all over the world, a handful of public webinars, and robust social media conversations. We hope you’ve had the opportunity to take part in the action!

To get you up to speed, though certainly not comprehensive, here’s a snapshot of what’s been happening.

In Bangladesh, BRAC conducted an internal debate about the impact and benefits of its own microfinance program.  Answering tough questions like “Does BRAC risk doing more harm than good by using microfinance in its model of fighting poverty?” staff shared their perspectives, providing insights into how to improve the program. Check out some of the presented arguments on BRAC’s Twitter feed.

In Nigeria, Accion and Accion Microfinance Bank discussed financial inclusion strategies for the country. The three biggest industry gaps identified were the lack of mobile and agent banking infrastructure, human capital in the microfinance banking sector, and a spirit of collaboration and partnership among the various players.  Moving forward, the discussion participants will apply greater focus on savings as a necessary service offering that can be improved.

The World Savings and Retail Banking Institute (WSBI) conducted a webinar on the lessons drawn from a six year project (2009 – 2015) carried out with 12 WSBI member banks aimed at creating usable savings services in the hands of the poor. One call to action from the webinar was the need for greater connectivity to combat the challenge of reaching clients in rural communities. As WSBI aims to add 400 million customers to its network by 2020, it will need to partner with more organizations in order to reach very remote village groups.

New wine in old bottles? MicroSave started a weeklong conversation over LinkedIn focused on new and old approaches to understanding customer needs – more specifically, the use of human centered design within the financial services sector. Check out the in depth conversation from stakeholders around the industry, here.

Nearly 50 alumni of the Harvard Business School – Accion Program on Strategic Leadership in Inclusive Finance joined a discussion on the FI2020 Progress Report. Alumni across industries and markets connected on the importance of creating an enabling industry architecture through cross-sector partnerships, utilizing group services structures to better address customer needs and increase product uptake, and harnessing data analytics to improve the credit decision process.

On social media, people and organizations around the world shared their FI2020 Week activities, thoughts on anything financial inclusion, and calls to action. Join the discussion and share your own call to action via any social network using #FI2020, or send us an email. View the discussion as it happens on the FI2020 Week website, here.

FI2020 Week participants are submitting their calls to action answering the guiding question, “What is an important action needed in your country (or industry segment) to advance financial inclusion?” You can share your submission (and a photo if you can!) on Twitter or Facebook using #FI2020, or via email. MasterCard is a standout in providing thoughtful calls to action from senior executives; we share Daniel Monehin’s below. The growing list of calls to action can be found here. A few of the recent entries:

Here’s a quick run-down of the events and webinars of today:

  • The Role of Technology and Innovation to Broaden Financial Inclusion in Africa
    • Institute of International Finance (IIF)
    • Johannesburg, South Africa
  • Client Protection and Technology: The GSMA Code of Conduct for Mobile Money
    • GSMA
    • Webinar: 9am – 10am ET
  • Impact of Mobile Money on Financial Inclusion and Other Public Policy Objectives
    • GSMA
    • Webinar: 10am – 11am ET
  • A Change in Behavior: Innovations in Financial Capability
    • IIF; JPMorgan Chase; CFI
    • Washington, D.C., USA
  • Female Leadership in Microfinance Institutions in Latin America and the Caribbean
    • Andares
    • Webinar: 3pm – 4pm ET (English) & 4pm – 5pm ET (Spanish)
  • Expanding Rural Financial Inclusion for Women
    • VisionFund
    • Lusaka, Zambia

For more on FI2020 Week and ways to get involved, including accessing webinars:

Have you read?

FI2020 Week Is Underway! Join in

Tackling Five Challenges to Accelerate Financial Inclusion

Customer Service at BRAC: Empowering Women through Empowered Women

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