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
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: 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
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
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
'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
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