Harnessing Competition to Enhance Financial Capability in India

The Center for Financial Inclusion is working to create a Financially Capable India platform that will hasten the spread of behaviorally-informed approaches to financial capability throughout the Indian financial inclusion sector.

As a part of this effort, CFI is excited to collaborate with MetLife Foundation to announce Inclusion Plus: an innovation competition for impactful and scalable organizations that are working to advance financial inclusion in India. Participants will be able to connect with other like-minded social enterprises, engage with PNB MetLife mentors and compete for a prize pool totalling $150,000.

Participants will present solutions to increase access to quality, sustainable financial services in one or more of the following subcategories:

  • Financial Technology: any type of technological innovation, both software and hardware, that directly impacts how low income communities access and use banking services and financial products, digitize payments and money transfers, manage finances and more.
  • Financial Products & Services: traditional forms of financial products and services, including credit, savings, payments, transfer and insurance products that impact low income communities. Potential applicants include a range of commercial banks, microfinance institutions, non-bank financial institutions (NBFIs) as well as larger companies that are building out products and services designed specifically for low income consumers.
  • Financial Capability: organizations that help low income communities better understand the various money management strategies and financial products available to them through programs and systems that elicit action and create measurable behavioral change.

The competition is open now and accepting entries through November 23. To learn more and register your solution visit india.inclusionplus.com. If you have any questions, please email Ernie Hayhurst at ernie@goverb.com.

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