Financial services are the linchpin of any modern economy, and an inseparable part of daily life: we use them to save, borrow and transact, as well as to ensure ourselves against risk.
Worldwide, 1.4 billion people are financially excluded. Lacking access to financial products and services, they have no secure way to save or send money, and rely on informal lenders for credit.
While advances in technology are helping to expand access to financial services, key gaps remain, based on gender, income, and education level. Financial inclusion involves working to close those gaps, and to make safe, sustainable, convenient and affordable financial services accessible to all.
When people are financially included, all society benefits. Investing in financial inclusion has proven an efficient way for countries to raise people out of poverty, reduce inequalities, build sustainable communities, raise education levels, create jobs, ensure economic stability, and promote growth, while maintaining financial system safety and stability.
Achieving financial inclusion requires both the private sector (through launching innovative products and services) and the public sector (through developing effective policy frameworks and national financial inclusion strategies).
Financial inclusion is multi-dimensional. It encompasses digital, consumer protection, market conduct, gender and climate issues. It requires differentiated approaches to target groups, such as youth, small businesses, rural populations, forcibly displaced people, and people with disabilities – working to understand their needs, preferences, and challenges, and involving them in finding solutions.
Financial inclusion requires adopting appropriate global standards for financial stability and integrity. It needs an enabling policy environment that is conducive to innovation while protecting consumers, as well as far-reaching digital infrastructure.
You can learn more about the many and varied aspects of financial inclusion in the sections below, and throughout our website.
Worldwide, 1.4 billion people are financially excluded. Lacking access to financial products and services, they have no secure way to save or send money, and rely on informal lenders for credit.
While advances in technology are helping to expand access to financial services, key gaps remain, based on gender, income, and education level. Financial inclusion involves working to close those gaps, and to make safe, sustainable, convenient and affordable financial services accessible to all.
When people are financially included, all society benefits. Investing in financial inclusion has proven an efficient way for countries to raise people out of poverty, reduce inequalities, build sustainable communities, raise education levels, create jobs, ensure economic stability, and promote growth, while maintaining financial system safety and stability.
Achieving financial inclusion requires both the private sector (through launching innovative products and services) and the public sector (through developing effective policy frameworks and national financial inclusion strategies).
Financial inclusion is multi-dimensional. It encompasses digital, consumer protection, market conduct, gender and climate issues. It requires differentiated approaches to target groups, such as youth, small businesses, rural populations, forcibly displaced people, and people with disabilities – working to understand their needs, preferences, and challenges, and involving them in finding solutions.
Financial inclusion requires adopting appropriate global standards for financial stability and integrity. It needs an enabling policy environment that is conducive to innovation while protecting consumers, as well as far-reaching digital infrastructure.
You can learn more about the many and varied aspects of financial inclusion in the sections below, and throughout our website.