Successful financial inclusion approaches allow people to access savings, insurance, or credit when they need it, and in turn provide opportunities for people to achieve their financial goals and secure their well-being.
Financial inclusion encompasses individuals’ access to tools, products, and services needed to achieve financial well-being.
Financial Inclusion Is Broader than Bank Accounts or “Digital Solutions”
Digitization reduces the costs of delivery, but may create new problems
Financial services are rapidly changing
Consumer protection, legal remedies, strong property rights, and transparent verification systems can expand access to financial services overall.
Balancing Innovation and Protection
Access is not sufficient to achieve the full potential of financial inclusion