> Posted by Hannah Sherman, Project Associate, CFI
Last Thursday the Institute of International Finance (IIF) and the Center for Financial Inclusion at Accion (CFI) launched The Business of Financial Inclusion: Insights from Banks in Emerging Markets. Based on in-depth interviews with 24 banks in emerging markets, the report explores the challenges and opportunities banks face in reaching unbanked and underbanked customers. It shines a spotlight on banks as leaders in advancing financial inclusion and discusses specific strategies related to technology, data, partnerships, financial capability, and other key issues, and concludes with recommendations for action.
In the following video, the report’s primary author Susy Cheston interviews Dr. William Derban, Director of Inclusive Banking & Corporate Social Responsibility at Fidelity Bank Ghana and one of the 24 bankers interviewed for the report. In their informal and in-depth conversation, Ms. Cheston and Dr. Derban discuss, among other topics, why Fidelity Bank Ghana has decided to engage in financial inclusion (hint: it’s not just about CSR), their commitment to always putting the customer first, their plan to reach viability, and the benefits they have gained through technology and partnerships.
Along with his work at Fidelity Bank Ghana, Dr. Derban was previously the Head of Community Relations with Barclays Africa and Emerging Markets. At Barclays, Dr. Derban developed the bank’s financial inclusion strategy in Africa, which led to the first linkage between a global bank and informal financial groups in Ghana.
Fidelity Bank, licensed in 2006 as the 22nd bank to be licensed by the Bank of Ghana, is a commercial bank that aims to be one of Ghana’s top three banks by 2018. It is investing significantly in technology, places a priority on a customer-centric culture, and has a wide range of partnerships to extend its reach, including with savings groups. In 2014, Fidelity acquired ProCredit Savings and Loans Company Limited, a leading microfinance institution.
For more on Fidelity Bank Ghana, check out the bank’s financial inclusion profile in the full report. To read the report, click here.
Have you read?