An Integrated Approach to Financial Inclusion: Welcoming NextBillion’s Newest Partner, BFA
If you follow the financial inclusion space, you likely know about BFA, a global consulting firm specializing in developing financial services for low-income people. BFA works with donors, financial institutions, insurers , investors, payment service providers and policymakers to help low-income customers attain a better quality of life.
BFA’s integrated approach greatly appeals to us. Recognizing that the financial challenges of low-income people won’t be solved by access alone, BFA seeks out solutions that combine finance, user-centered design, data, policy and technology – informed by its expertise in customer research and business strategy with financial institutions and low-income customers. Along with focusing on the poorest customers, it also addresses the needs of still-vulnerable earners and the emerging middle class. And importantly, it aims to grow ecosystems, not just enterprises – by working with both financial and non-financial partners, and by operating in local geographies. (BFA now has offices in Boston, New York, Medellín and Nairobi and is opening an Indian office in 2018).
BFA has previously contributed insights on customer needs, business strategies, new technologies and policy to NextBillion, through both publications. Now, you’ll be hearing a lot more from the organization on our pages in the coming months. We’re proud to announce BFA as NextBillion’s latest partner. BFA is sponsoring:
- Our new “Inclusive Fintech” zone, which houses content related to the tech-focused trends, innovations and enterprises that are transforming the financial inclusion ecosystem. This zone also includes regular posts about BFA’s fintech programs, Catalyst Fund and FIBR, as well as other fintech-related posts by NextBillion’s diverse community of guest writers. Catalyst Fund accelerates early-stage inclusive fintech around the world, and FIBR helps fintechs and banks partner on financial services for low-income customers through agent networks, small businesses and smartphones.
- Two special, year-long series dedicated exclusively to exploring other BFA initiatives: OPTIX (Optimizing Performance Through Improved Cross(X)-Sell), which focuses on building and strengthening the suite of financial offerings for low-income customers through its work with four high-growth financial institutions in Bangladesh, Colombia, Mexico and Vietnam; and Financial Frontiers, which explores innovation in financial services through the array of BFA experiences in customer and business insights, quantitative analysis, policy and ecosystem development, and finance for life.
We’re delighted to work with BFA to cover these intriguing initiatives, and to support BFA’s broader goal: to contribute to the knowledge base of the financial services industry and inform the impact of its work. We’re looking forward to a productive partnership. Check out BFA’s NextBillion partner page for more and to find regular updates.
Photos courtesy of BFA.