> Posted by Jeffrey Riecke, Communications Associate, CFI
Corporate social responsibility or profitability? Why are more and more financial services providers expanding their focus to include banking the unbanked? After all, many of those without formal financial services don’t have incomes to support big or frequently-used products, and their circumstances often present challenges for access, risk, and other services dimensions.
Industry activity in recent years, organizational objectives aside, has demonstrated the potential for sustainable and profitable investment in financial inclusion. Advancements in product design, technology, and risk management, and trends in demographics and incomes are making it increasingly possible for commercial financial services providers, as well as stakeholders in adjacent industries like telcos and technology providers, to support inclusion.
In the following video, global leaders discuss how financial inclusion is not only good for individuals, markets, and countries, but also good business.
The video features the following individuals:
- Pamela Flaherty, President & CEO, Citi Foundation
- Tony Lythgoe, Head, Financial Infrastructure, A2F Advisory Services, IFC
- Paul Tregidgo, Managing Director, Credit Suisse
- Abrar Mir, Executive Vice President & Group Head, Branchless Banking & eBanking, United Bank Limited
- Narda Sotomayor, Head of the Department of Analysis of Microfinance Institutions, Superintendencia de Banca, Seguros y AFP de Peru
- Selorm Adadevoh, Head of Mobile Financial Services, Tigo, Millicom
- Diana Taylor, Managing Director, Wolfensohn & Co.
- Olav Carlsen, CFO, Tiaxa
To watch the video on our CFI YouTube page, click here.
Have you read?