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Shifting from Financial Inclusion to Financial Health: Strategic Focus Areas for Providers and Other Stakeholders
In the past decade, 1.2 billion people around the world have obtained a financial account. But according to Nishant Kumar and Sonal Agrawal at Lakshya, this growing financial inclusion isn't leading to similar gains in financial health – and addressing this challenge will require stakeholders to boost engagement on the demand side rather than just maximizing supply-side efficiency. They propose three key strategic focus areas for improving global financial health, and explore how they differ from the approaches taken to boost financial inclusion.
- Categories
- Finance
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Mexico’s Kavak Drives Away With $700 Million in New Funding, Doubling Its Valuation to $8.7 Billion
Kavak, a Mexico City-based startup that operates a pre-owned car marketplace in Latin America, announced it has raised a massive Series E round that more than doubles the company’s valuation.
- Categories
- Finance, Technology, Transportation
- Region
- Latin America
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Press Release: UNCDF Releases Cutting-Edge Research on Financial Health
The United Nations Capital Development Fund (UNCDF) in partnership with i3 Program, supported by MetLife Foundation, released its flagship publication, “Delivering Financial Health Globally”.
- Categories
- Finance
- Region
- Global
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Press Release: 2021 FinHealth Spend Report Shows Financially Coping and Vulnerable Households Spent $255 Billion for Everyday Financial Services
Struggling households shoulder greater burden of fees and interest, highlighting the need for innovative solutions that reduce economic pressures
- Categories
- Finance
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Togo: Microfinance Institutions Slow Down on Lending as Overdue Loans Spike Amid COVID-19 Pandemic
Amid the Covid-19 pandemic, microfinance institutions active in Togo considerably lowered loans to the public in the nine first months of 2020.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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Insurance in the Age of COVID-19: The Pandemic Highlights the Need for a New Approach
With much of the world on lockdown due to COVID-19, many businesses are closing down – either temporarily or permanently – with devastating effects on individual welfare and entire economies. This has amplified the importance of insurance, says Kate Rinehart-Smit at Cenfri. She explores how the sector can make a greater impact – not only on the resilience of businesses and individuals, but on broader economic development.
- Categories
- Coronavirus, Finance
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COVID-19 Is Accelerating Digital Banking Across the Globe: Here’s How It Will Impact Bangladesh
COVID-19 has fast-tracked the adoption of innovative tools and technologies by the global banking sector. As Jakirul Islam at Bank Asia points out, this has already led to an increase in digital banking, as customers move away from branch-based banking due to pandemic lockdowns. He explores some popular features of digital banks, and discusses their potential impact in Bangladesh.
- Categories
- Coronavirus, Finance, Technology
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Analysis: Fear on the wild frontier as riskier stock markets left trailing
Frontier stocks have trailed bigger emerging markets in recovering from the coronavirus-induced crash as liquidity has dried up and investors beat a hasty retreat.