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The Impact of Inconsistency: Uncovering the Hidden Cost of Variable Work Schedules
There’s no shortage of apps and initiatives intended to help low-income people budget their money and boost their savings. But for millions of Americans, no amount of budgeting or discipline can overcome a lack of stable income. Studies show that almost 40 percent of working adults experience a drop in income at least one month per year, making it difficult to cover expenses like food, rent and other necessities. Analysts at Duke's Common Cents Lab explore the often-hidden impact of this problem – and discuss some ways product developers and employers could help.
- Categories
- Finance
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Press release: MetLife Named to the 2018 Dow Jones Sustainability Index
“MetLife is committed to delivering value for all of its stakeholders,” said Mike Zarcone, MetLife executive vice president and head of Corporate Affairs. “It is the nature of our business to create value for the world at large, and we are proud to be recognized by DJSI for the continued progress we are making to be a more sustainable company.”
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- Press release
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Fewer Poor People are Saving: What Does That Mean for Microfinance and Mobile Money?
As the world grows richer and the financial inclusion movement steams ahead, savings rates are abysmally low across the globe. In fact, over half of all adults on the planet saved nothing in the last year – neither bank deposits nor cash stuffed in drawers. In the third of a four-part series analyzing the much-discussed 2017 Global Findex, Scott Graham of FINCA International explores the savings habits of individuals worldwide – particularly in the developing world – and the implications for financial services providers.
- Categories
- Finance
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A Shifting Frontier: How Mobile Money is Reshaping the Gender Gap in Financial Inclusion
Mobile banking can undoubtedly be a useful tool when it comes to closing the financial services gender gap – with the key word being "can." But as the results of the Global Findex report show, fintech is no panacea for addressing longstanding disparities in financial access, and the gap between men and women remains great. Scott Graham of FINCA International explores the potential – and limitations – of digital finance to boost women’s inclusion and empowerment.
- Categories
- Finance
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Announcing the Latest NextBillion E-book: Insights and Innovations in Financial Health
In response to a growing recognition that financial access alone doesn’t guarantee social impact, many of the sector’s leading voices are shifting their focus to financial health. MetLife Foundation and its partners explored that topic on NextBillion's Financial Health site, through 20 articles that discuss what’s working—and sometimes, what’s not working—in inclusive finance. We’ve compiled these articles into an e-book, which you can download and share here.
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Industry body seeks government intervention to tame errant microfinance practitioners in Sri Lanka
LMFPA aims to self-regulate its 76 members through the code of conduct, particularly avoiding over indebtedness, maintaining transparency, promoting good recovery practices and maintaining healthy competition. Nafeer noted that an independent board would investigate the complaints lodged against its members and will take punitive action against errant members by terminating their membership if they continue to breach the code of conduct and same will be advertised in print media to inform the public.
- Region
- South Asia
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Beyond Inclusion: How Mission-Based Small Business Lenders are Evolving Their Definition of Impact
While microfinance institutions have grown rapidly around the globe, so too has economic inequality in developed countries. More than two decades ago, Accion in the U.S. and Opportunity Fund responded by adapting their microlending model from low-income markets to the United States. Gina Harman and Luz Urrutia, the respective CEOs of those two organizations, share new research on small loans have impacted revenues and profits for borrowing entrepreneurs, most of whom lacked the financing and resources they needed to start or grow their businesses.
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- Uncategorized
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NextBillion is on Vacation – Check Out Our Top 10 Recent Posts
With the Independence Day holiday this Wednesday, it's summer vacation time for much of the U.S. - and NextBillion is no exception. Since our editors will be enjoying some time off this week, we won't be publishing new blog content until next Monday, July 9. In the meantime, we've compiled 10 of our most-read recent posts, including some of our more thought-provoking content of the year. We hope you enjoy them, and we look forward to bringing you more original analysis and insight from the world of social business next week.
- Categories
- Agriculture, Finance, Investing, Social Enterprise