About this topic
Digital financial services connect people to the tools they need to earn, save, and thrive.
As digitization continues to increase around the globe, finance has been no exception. According to the World Bank, “Affordable financial products and services—such as transactions, payments, savings, credit and insurance—help people manage risks, build wealth and invest in businesses. Financial inclusion means that individuals and businesses have access to and use affordable financial products and services that meet their needs, which are delivered in a responsible and sustainable way. Financial inclusion is a catalyst for achieving seven of the 17 UN Sustainable Development Goals (SDGs). It fosters economic growth and employment, promotes economic empowerment of women, and contributes to eliminating poverty.” From M-PESA in Kenya to electronic payments around the world, some of the most major advances in financial inclusion have come from digital innovations.
Digital financial inclusion is a crosscutting focus with a thriving community of practice. Caribou’s work in financial inclusion spans several of our areas of expertise: Livelihoods and Prosperity, Inclusive Business Models and Technologies, and Policy for the Digital Future. It is a wellspring of innovation where business models directly engage the sustainable development goals.
- Caribou has conducted commissioned research and advisory with the Gates Foundation on platforms as a new source for financial inclusion.
- We have supported a multi-year learning partnership in financial inclusion for the Mastercard Foundation.
- Through the Mastercard Strive program, we have supported the Mastercard Center for Inclusive Growth with connecting millions of small enterprises to the digital financial services they need to compete and thrive in the digital era.
