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Financial Services for Real People: Using Behavioral Science to Boost Financial Health in Latin America
Behavioral economics illustrates how we humans often fail to plan beyond the immediate future. Over the past two years, the MetLife Foundation and behavioral economics lab ideas42 have examined the behavioral barriers standing in the way of financial health for low-income people in two pilot markets, Mexico and Chile. The two organizations have designed solutions that facilitate retirement savings, short-term savings and access to credit.
- Categories
- Finance
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Sesame Street goes global to teach kids about money
The outreach has so far been a whopping success in terms of the numbers reached, Sesame Workshop concluded at a summit last month that brought together country directors. The most difficult challenge they identified was how hard it was to translate money messages across different countries and cultures.
- Categories
- Education
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Report: 52 Million People in Latin America Protected by Microinsurance
More than 8.2% of the population in Latin America and the Caribbean had at least one microinsurance policy as of December 2016, with 52.1 million people insured corresponding to USD 420 million in Gross Written Premiums.
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- Uncategorized
- Region
- Latin America
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Press release: New FICO Credit Scores Provide Lenders Opportunity to Expand Access to Credit in India for Nearly 350 Million
FICO® Score for India is based on traditional credit data available from any of the major credit bureaus in India. FICO® Score X Data India, in partnership with LenddoTM, evaluates alternative data such as that from a consumer's digital footprint (web or mobile device) to produce a score for consumers who don't have enough traditional data on file with one of the Indian credit bureaus to produce a FICO® Score for India.
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- Uncategorized
- Region
- South Asia
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The Financial Lives of Struggling Americans: The Financial Diaries and The Unbanking of America
Elisabeth Rhyne of the Center for Financial Inclusion at Accion reviews two new books that take a look Americans' increasingly precarious financial lives. Both books examine America's top economic challenge – the crumbling of the economic foundation for many working-class and middle-class families – and they do so through the lens of financial services, an unusual but revealing perspective, Rhyne writes.
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- Finance
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Reserve Bank of India to Launch Financial Literacy Drive in Nine States
Six NGOs registered with the Depositor Education and Awareness Fund -- CRISIL Foundation, Dhan Foundation, Swadhaar Fin Access, Indian School of Micro Finance for Women (ISMW), Samarpit and the PACE Foundation -- have been selected to execute the pilot project in collaboration with banks.
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- Finance
- Region
- South Asia
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Common Cents Lab Opens Applications for 2018 Financial Services Cohort
Each year, the lab collaborates with chosen financial services providers to custom design, test, and launch new features and products that aim to increase financial well-being for 1.8 million low- to moderate-income (LMI) households in America.
- Categories
- Finance, Impact Assessment
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Why Gyms Love January: Leveraging Behavioral Economics for Financial Health
People are famously irrational when it comes to financial matters. We can't seem to resist wasting money on things that we know aren't beneficial. Why do we make self-defeating financial decisions, and how can we be persuaded to change them? Evelyn Stark, financial inclusion lead at MetLife Foundation, discusses the ways financial service providers are leveraging behavioral science to help their clients spend less and save more, in the latest NextBillion podcast.
- Categories
- Finance
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