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‘Betterment Is a Perpetual Labor’
February 6, 2015 in Branchless Banking, Center for Financial Inclusion, Client Focus, Financial Inclusion, Financial Inclusion for Persons with Disabilities, Mapping the Invisible Market, Microfinance, Policy, Savings, Smart Campaign, Social Performance, Technology, Youth and Financial Inclusion | Tags: Credit, Dean Karlan, Disability Inclusion, FINCA, For-Profits, Freedom From Hunger, Government Regulation, Health, Microcredit, Microfinance, Non-Profits, Policy, Rupert Scofield, Savings Groups, Self-Regulation, Smart Certification, Stanford Social Innovation Review, The Guardian, The Smart Campaign, Truelift, Universal Standards for Social Performance Management, Youth Inclusion | by Center for Financial Inclusion | 1 comment
> Posted by Bobbi Gray, Research and Evaluation Specialist, and Kathleen Stack, Vice President, Programs, Freedom from Hunger
#525646865 / gettyimages.com
Recently, Dean Karlan published an article in the Stanford Social Innovation Review titled “The Next Stage of Financial Inclusion.” The key points of his article are that while non-profits led the way in developing microcredit for the poor and started the movement for financial inclusion, for-profit companies have increasingly found it worth their while to offer financial services for the base of the pyramid. The entrance of new players to the market, Karlan offers, is a testament to the success of the early microfinance-focused non-profits. However, Karlan suggests that non-profits still have an important role in continuing to innovate in the financial services space. We agree. This is particularly true for extending financial services to people that banks still consider unprofitable: “the too rural, the too poor and the too young.” We would add disabled populations and the “too old.”
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