Innovations in Financial Capability in India

December 10, New Delhi, India

With the emergence of new technology-enabled business models, significant strides have been made in expanding access to financial services for the poor. However, through its Financial Inclusion 2020 project, the CFI has learned that access must be accompanied by financial capability if it is to lead to genuine financial inclusion and bring the desired benefits for providers, governments and most of all, for underserved consumers. New technologies, delivery channels and approaches are offering opportunities to transform client touch and product usage into “teachable moments” to build capability, allowing consumers to become more aware and purposeful with their financial intermediation. Recognizing the role that financial capability plays in financial inclusion, this working breakfast is structured as a roundtable discussion to explore what innovative capability building measures look like in the India context. The learnings from this meeting will inform a thought leadership research project that the CFI is undertaking to map the global landscape of emerging technologies and innovative approaches that can expand the financial capability of poor consumers, with a particular focus on India.