Preview of the event
Financial inclusion experts Gerry Boyle from CARE International UK and Matt Wilson from Barclays will go on to discuss the frontline realities of banking for those living on less than $2 a day and how to address the various barriers which prevent many financial institutions from seriously addressing the bottom of the pyramid as a market segment.
Common work on this could lead to a win-win for everyone and if done responsibly, help to create a lasting, sustainable route out of poverty.
Our expert panellists will cover:
- Importance of savings to women’s economic empowerment
- Role of banks in supporting savings plus other financial services in developing countries
This will include an assessment based on new research on the:
- Size of the commercial opportunity at the ‘bottom of the pyramid’
- How banks are developing capabilities for financial inclusion
- What areas banks are not addressing sufficiently
We'll also discuss Barclays’ experience on financial inclusion via the Banking on Change partnership.
Gabin Hamman, Head of Sector Private Sector Development for the European Commission will then talk on the importance of financial inclusion to the EC, the role for donors in supporting market-led financial inclusion and the panel will discuss whether a market-led solution key to inclusion or will the poorest be exploited?
Read the updates as it happened
.@LouiseJames__: #Accenture knows that big banks are thinking of how to differentiate themselves from competitors, so vital to study #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10: @UN_Women research shows most effective intervention to promote women’s economic empowerment is access to savings #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10: "Groups put money to good use by lending to one another. There is no better lending committee" #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@gerryboyle10: "we started talking to just the CSR teams at banks, but we think this should be a mainstream part of their business" #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10: 2 billion adults remain unbanked, which represents an enormous opportunity #financialinclusion #EDD15 pic.twitter.com/Gx7PilLqGN
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10: though the number of unbanked remains high, the situation is changing quickly #EDD15 pic.twitter.com/cdb0Gx76RC
— CARE InternationalUK (@careintuk) June 3, 2015
.@gerryboyle10: mainstream banks r developing inclusive products, because they're developing e.g. mobile banking for affluent markets #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10 introduces #financialinclusion maturity model' & shows banks are developing capability to bank new sector of market #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10: the 2 billion unbanked and the opportunity it presents "is a marketplace that is about to be on the turn" #EDD15 #NOunbanked
— CARE InternationalUK (@careintuk) June 3, 2015
'this is still not business as usual for banks' to serve needs of poorest @GerryBoyle10 at #financialinclusion event #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
'working with savings groups is cost effective for both the members & the bank' says @GerryBoyle10 #financialinclusion #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10 says research shows encouraging signs of overcoming 'know your customer' regulation for poorest #EDD15 #financialinclusion
— CARE InternationalUK (@careintuk) June 3, 2015
.@gerryboyle10 says the currently unbanked have diff needs: geographically dispersed, no track record, limited financial literacy #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
'financial literacy is key & banks need to step up to this & work w Governments on this'' says @GerryBoyle10 #EDD15 #financialinclusion
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson from @Barclays_cship talking at our #EDD15 event on #financialinclusion about the opportunity for banks
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: @Barclays_cship was first global bank working with INGOs to link up with local savings groups #financialinclusion #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson from @Barclays_cship says Barclays now honed in on business opportunity rather than CSR approach to #financialinclusion #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: Barclays linked with 500+ local savings groups in 1st phase giving access to formal services. Aim for 5,000 in 2nd phase #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson from @Barclays_cship describes saving group in Uganda that has is thriving #Bankingonchange #EDD15 pic.twitter.com/i3dGFhcyGg
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: vital at Barclays to show the social&commercial value: african savings groups could potentially save $530million a year #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
'linking savings groups to bank accounts must be demand driven & based on trust' Matt Wilson of @Barclays_cship #financialinclusion #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: investment in #BankingOnChange has given @Barclays_cship a competitive advantage. Trust and scale have been vital #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson from @Barclays_cship says that the Linking for Change Savings Charter is key to allowing other banks to link groups responsibly
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: @Barclays_cship's want to share learning & encourage signing up to Linking for Change Savings Charter http://t.co/kgapaUJ8Bp
— CARE InternationalUK (@careintuk) June 3, 2015
Very interesting from Matt Wilson on the products developed for savings groups: group bank accounts, mobile transactions&more #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Gabin Hamann Head of Sector Private Sector Development @EU_Commission says #financialinclusion is crucial to food security #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Gabin Hamann Head of @EU_Commission says #financialinclusion cannot wait for reform of the finance sector. Donors must do more #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Gabin Hamann of @EU_Commission: we are watching to see if there are market failures where we must intervene e.g SME access to finance #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
donors must not replace what private sector can do, but complement efforts instead says Gabin Hamann of @EU_Commission #financialinclusion
— CARE InternationalUK (@careintuk) June 3, 2015
.@CGAP says how do you move banks to become less product-centric & more customer-centric & involve poorest in product innovation? #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
'greatest leap in moving from CSR to business case for engaging w poorest was retail directors understanding opportunity of savings groups'
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: Providing inclusive products has made @Barclays_cship more relevant to developing markets #NOunbanked #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@PracticalAction says national/local banks in developing countries do not see own ppl as viable customer base, need cultural change #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@gerryboyle10: Some banks we spoke to are taking more objective lending decisions, taking it out of the hands of local officials #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Part of an organisation working on #financialinclusion? Find out more about our savings charter: http://t.co/kgapaUJ8Bp #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
.@GerryBoyle10 describes how saving group members go 'vital' in communities, CARE aims to get 30m ppl saving #EDD15 pic.twitter.com/A2vG979lAh
— CARE InternationalUK (@careintuk) June 3, 2015
CSR is not real business, audience member asks how savings groups can be viable business for banks? We need mobile product says Matt Wilson
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson: "For a sustainable business model we need: 1. mobile product to solve distance 2. access to information 3. overdrafts" #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
Matt Wilson of @Barclays_cship: Confident that current tests of #financialinclusion products will lead to a sustainable business case #EDD15
— CARE InternationalUK (@careintuk) June 3, 2015
To make savings groups viable to banks, donors must help create groups in the 1st place #EDD15 #financialinclusion pic.twitter.com/g2sCBXgk3D
— CARE InternationalUK (@careintuk) June 3, 2015
Thanks to everyone at our #EDD15 session on #financialinclusion. Watch our Insights blog for more from our experts http://t.co/Gh9QC4MqJ3
— CARE InternationalUK (@careintuk) June 3, 2015
Thanks to our panel: Matt Wilson, @GerryBoyle10, @LouiseJames__ & Gabin Hamann for the great discussion this evening pic.twitter.com/KROiiqfkTu
— CARE InternationalUK (@careintuk) June 3, 2015 
