33 get access to expansion capital and to a massive, ready- made customer base so they can scale their technology. In short, our research found ventures that were symbiotic rather than combative. The questions that most interest CFI and other financial inclusion advocates are: Who benefits? Will the efficiency gains and new market opportunities just boost company profits? Will they make life marginally more convenient for affluent segments that are already well served? Or could low-income consumers find themselves with quality financial services they never had before? FOUR TYPES OF FINANCIAL INCLUSION CHALLENGES Thanks to generous support from MetLife Foundation, our report examined 14 partnerships targeted at underserved segments, especially in emerging markets. It incorporates insights from interviews with 32 people from 25 different institutions: banks, insurance companies, payment providers and fintechs. The financial inclusion challenges that these partnerships are addressing fall roughly into four key categories (although many of the challenges are interrelated and some partnerships address more than one of them): Ì Ì Gaining access to new market segments Ì Ì Creating new offerings for existing customers Ì Ì Data collection, use and management Ì Ì Deepening customer engagement and product usage The first category holds particularly interesting lessons for stakeholders focused on the threshold issue of expanding basicaccess.Thebarrierstoservinglow-incomecustomers are well known. Building physical branches in remote rural areas for a dispersed population with low-value accounts is not viable. But digital tools greatly reduce operating costs, putting affordable and accessible products within reach for hard-to-serve customers, and opening a new market for financial institutions. Source: Graphic courtesy of CFI.