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> Posted by Center Staff
Blog posts. Twitter feeds. Facebook updates. Email listservs. Google Alerts. Lunchtime conversations… We all have our ways, however handy and effective, of trying to stay abreast of what’s happening around the world. For those interested in financial inclusion, this is quite the challenge. The release of new products, partnerships, publications, and policies is a constant. But at CFI’s Financial Inclusion 2020 (FI2020) project, combing the world for the latest inclusion insights, trends, and developments is part of what we do. So, we decided to go one step further.
Starting today, each week the FI2020 team will bring you the big news in financial inclusion in an online magazine, the Financial Inclusion 2020 News Feed. We’ll pull from all over to spotlight great new stories, initiatives, videos, podcasts, and more. To give you a sense, the collection of pieces that make up this week’s edition touch on:
- JPMorgan Chase & Co.’s new report on U.S. households’ financial resilience, Weathering Volatility
- AllAfrica’s recent article on the new partnership between Tigo and Juntos in Tanzania
- The Guardian’s interactive post that visualizes borrowing trends globally
- A World Bank video on assessing if microloans really make a difference
To check out the first edition, click here, and make sure to subscribe so you can be notified when the latest issue comes out.
Have you come across a story or initiative you think we should cover? Email your ideas to us at .
The most exciting trends and startups in inclusive finance this year
> Posted by Vikas Raj, Director of Investments, Accion Venture Lab
#179161271 / gettyimages.com
There has been a lot of buzz in the financial technology (FinTech) space over the last several months, with a high-profile IPO, several more apparently on the way, and more and more venture funding flowing into FinTech startups. Bold ideas for financial services innovation are getting more visibility – just this month, Australian Wealth Index (AWI) listed the 50 Best FinTech Innovators, and CFI’s Elisabeth Rhyne conveniently categorized the list so it’s easy to see at a glance where the innovations are.
At Venture Lab, we found the AWI list interesting but also felt it missed something significant: namely, that one of the biggest opportunities for FinTech is figuring out new solutions to include the billions of lower-income people who are today excluded from formal financial services. And it’s not charity that compels us to reach these customers – it’s good business. These customers represent a big market. In fact, they’re such a significant part of any emerging market’s customer base that any global providers with dreams of international expansion must cater to them if they want to succeed.
> Posted by Danielle Piskadlo, Manager, Investing in Inclusive Finance, CFI
Fifteen years ago in the microfinance space you may have been able to get away with understanding very little about your clients. Without much competition, MFIs could probably still make a decent profit by offering one product to all their clients using only one delivery channel. Thankfully, those days are gone.
The base of the pyramid is no longer a hidden or forgotten market segment. In fact, according to the recently-released 2014 Microfinance Banana Skins report, the pendulum is swinging in the opposite direction. Overindebtedness once again tops the charts as the biggest perceived risk, perhaps indicating that many clients are now able to gain access to multiple services providers. In some areas, an excess of providers may now be crowding the market.
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