Access to savings is key to the economic empowerment of women, and many wider development objectives, yet over 2 billion people lack access to a bank account. Long engagement in financial inclusion has taught CARE International that even people on very low incomes can save, and that banks need to be part of the solution to financial inclusion.
While banks are working with mobile providers, NGOs and governments to design new products and services that meet poor customers’ needs, people living on less than $2 per day are still badly served by formal financial institutions.
CARE International and Accenture are looking at the barriers to financial inclusion which poor people face and have been finding that banks have many of the capabilities to overcome these barriers, but very few are currently seriously addressing the bottom of the pyramid as a market segment. Common work on this could lead to a win-win for everyone.
So on 3 June in Brussels, CARE International are bringing together Accenture, Barclays, the European Commission, and financial inclusion experts to look at:
- What does our recent research from 12 developing countries tell us?
- Can financial inclusion of the poorest create more inclusive growth?
- Is a market-led solution key to inclusion or will the poorest be exploited?
- What is the role for donors in supporting market-led financial inclusion?
The session will take place on 3 June from 18.00 in Brussels (at “Tour & Taxis”, Avenue du Port 86). Register here. (Please note: registration closes on 18 May.)