FI2020 Week Recap #2

> Posted by Center Staff

FI2020 Week is a global conversation on the key actions needed to advance financial inclusion, grounded in the findings of the recently launched FI2020 Progress Report. From November 2-6, 2015, stakeholders around the world are participating in more than 30 events and sharing their voices over social media, with #FI2020.

FI2020 Week is nearing its end! Today is the final day. We’re sad too, but there are still lots of opportunities to get involved, and it’s been a lively four days. Also, we’ll continue to report out on all that happened, so there’s more to come! Along with the in-person events, there are a handful of webinars today, you can submit a call to action, or take part in the far-reaching social media conversations, which we’re capturing on the FI2020 Week site, here.

Since our last recap there have been dozens of events around the world bringing together stakeholders passionate about advancing financial inclusion. Here is a quick look at a few of those events:

Nkosilathi Moyo, CEO, VisionFund Zambia

In Lusaka, Zambia, representatives from a variety of organizations, including the Bank of Zambia, came together at an event hosted by VisionFund Zambia to discuss promoting financial inclusion by leveraging savings groups and microfinance institutions. Participating stakeholders identified three major gaps for achieving financial inclusion in the country: lack of a conducive regulatory framework; poor infrastructure; and information asymmetry between different players in the market. Moving forward, the participants agreed on the importance of convening and decided that an FI2020 event should be held each year until 2020. Additionally, the participants agreed, there needs to be a stronger focus on establishing strategic partnerships between mobile network operators, financial service providers, NGOs, and government to develop cost-effective delivery channels that reach people in rural areas.

Forty-five leaders in financial capability, financial literacy, and financial health came together at a roundtable in Washington, D.C. to review a draft paper on innovations in financial capability written by the Center for Financial Inclusion in partnership with the JPMorgan Chase Foundation. The event was hosted by the Institute of International Finance. The draft paper focuses on seven principles to re-orient financial capability building toward customer needs and behaviors, with a call to action to all stakeholders—providers, governments, social sector organizations, financial capability providers, and donors—to make this shift.

AVAL held a webinar to share the results of their 2015 study aimed at understanding the financial capability of persons with physical disabilities in Ecuador. The study found that among those with physical disabilities in the country: 37 percent are not included in the financial system; 64 percent reported they had never received any training on how to manage their personal finances; 79 percent do not have a credit card; and 60 percent have not taken out credit in the last five years. AVAL concluded that in the future there must be a greater focus on building financial capability among disabled Ecuadorians, so that they can be empowered to use services and have greater access to the financial system.

GSMA conducted two webinars, one focused on the GSMA Code of Conduct for Mobile Money Providers, and another on the impact of mobile money on financial inclusion and other policy objectives. During the latter, GSMA reviewed evidence of the positive macroeconomic impacts of mobile money, while also highlighting the risks of provider-to-client interactions.

In another webinar, Innovations for Poverty Action IPA explored recent innovations in financial capability. Three different researchers presented their work from Afghanistan, Chile, and India, demonstrating that providers must integrate evidence-based solutions in promoting positive financial behaviors.

On social media, people and organizations shared their FI2020 Week activities, thoughts related to financial inclusion, and calls to action – answering FI2020 Week’s guiding question What is an important action needed in your country or industry segment to advance financial inclusion? Join the discussion and share your own call to action (with a photo if you can!) via any social network using #FI2020, or send us an email.

The growing list of calls to action can be found here. Here is a handful of entries:

Here are the events and webinars of today:

Credit Access for Thin-File Customers in the U.K.
- Insight Report
- London, U.K.
Voice of the Client
- MIX
- Webinar: 9am – 10am ET
Demand-Side Consumer Insight
- LeapFrog Investments
- Webinar: 9am – 10am ET
Savings Groups in Latin America: What We Have Learned from Impact Evaluation and Linkages to Financial Intermediaries
- Multilateral Investment Fund
- Webinar: 2pm – 3pm ET