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FINANCIAL SERVICES FOR THE POOR ITU David Lubinski, Senior Program Officer Financial Services for...
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Transcript of FINANCIAL SERVICES FOR THE POOR ITU David Lubinski, Senior Program Officer Financial Services for...
FINANCIAL SERVICES FOR THE POOR
ITU
David Lubinski, Senior Program Officer
Financial Services for the Poor
December 2014
© Bill & Melinda Gates Foundation | 3
OUR GLOBAL REACH AND PRESENCE
1,2002012 active grantees
1,1002012 employees
worldwide
$3.4B2012 grant paymentsEthiopia
Europe and Middle East Office
ChinaWashington, D.C.
India
Nigeria
South Africa
Seattle
© Bill & Melinda Gates Foundation | 4
WHAT WE DO
GLOBAL HEALTH GLOBAL DEVELOPMENT UNITED STATES PROGRAM
GLOBAL POLICY & ADVOCACY COMMUNICATIONS
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GLOBAL DEVELOPMENT
Delivering health and development solutions that help people lift themselves out of poverty.
Programs:
Agricultural DevelopmentEmergency ResponseFamily PlanningFinancial Services for the PoorGlobal LibrariesMaternal, Neonatal & Child HealthNutritionPolioWater, Sanitation & Hygiene
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Our approach has three mutually reinforcing objectives: • Reducing the amount of t ime and
money that poor people must spend to conduct f inancial t ransact ions
• Increasing poor people’s capacity to
weather f inancial shocks and capture income-generat ing opportunit ies
• Generat ing economy-wide eff ic iencies by digital ly connect ing large numbers of poor people to one another, to other consumers, to f inancial services providers, to government services, and to businesses.
FINANCIAL SERVICES FOR THE POOR
© 2014 Bill & Melinda Gates Foundation | 7
THEORY OF CHANGE – FINANCIAL SERVICES FOR THE POOR
Intervention areas Outputs Outcomes Impact
Reforms adopted on e-money account issuing, KYC requirements, and distribution
<$2/day adults use a digital account
Digital bulk payments Number/type of financial
products available digitally
Accounts which can connect digitally to other accounts
Population within 5km of access point
Reduced transaction costs
Foster Regulations and PolicyAdapt regulations to enable poor people to open accounts, to allow providers to outsource distribution, and to protect users
Expand the Digital Financial InfrastructureExpand the digital financial infrastructure so that poor people can access digital money and use it to transact with their peers, businesses, and government
Drive Participation in the Digital Financial SystemCreate value that results in poor people joining the system because financial service providers design products to meet the needs of the poor and can offer them profitably
Poor people manage their money digitally
By 2035, 80% of adults worldwide and 60% of <$2/day adults actively use a digital account to access at least one financial service beyond payments (credit, savings, insurance)
Fewer people fall into poverty
More peoplemove out ofpoverty faster
More people move out of
poverty faster
© 2014 Bill & Melinda Gates Foundation | 8
FSP STRATEGIC INITIATIVES
Digital Payment Systems at Scale
1
Technology and Innovation
4
Digital Financial Services at Scale
2
Global Partnerships
3
Accelerate the propagation of digital payment systems into poor and rural communities in five countries with large numbers of poor people and adequate connectivity (i.e., Bangladesh, India, Indonesia, Nigeria, and Pakistan)
Accelerate and deepen the penetration of digital financial services beyond payments in three transition counties (i.e., Kenya, Tanzania, and Uganda)
Shape and accelerate efforts of governments, donors, global standard-setting bodies, and the private sector to maximize their collective impact on the poor’s access to digital financial services
Nurture innovations that could, in the medium- to long-term, create a step-change improvement in delivering digital financial services at scale
~35% ofresources
~15% ofresources
~15% ofresources
~35% ofresources
Four levers to accelerate and deepen penetration of digital financial services for the poor
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THE INCLUSIVE DIGITAL ECONOMY INCLUDES EVERYONE