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Part of the Problem – or Part of the Solution?: EMERGE conference challenges financial service providers to raise their game in serving low-income Americans
Approximately 46.5 million Americans live in poverty, due in part to the 2008 economic crisis. But the industry that sparked the crash may be part of the solution, as financial service providers show increasing interest in the low-income market. In the first post in our Domestic Financial Innovation series, we explore the industry’s shifting attitudes toward bank and non-bank players.
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World Bank, Firstmonie partner to advance mobile money in Nigeria
The World Bank through its subsidiary the International Finance Corporation (IFC) has announced a partnership with First Bank of Nigeria’s Firstmonie to advance mobile money services in Nigeria.
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This Credit Union in Disguise Is Helping Poor Latino Communities
Low-income Latinos often rely on predatory payday loans and high-priced check-cashing services. Savings accounts can change that.
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World Bank to offer transition support of $3.5 billion to India for infrastructure, education initiatives
NEW DELHI: The World Bank will continue its concessional lending meant for poorer countries to India and has also significantly upped the country's single-borrower limit, looking to provide a helping hand to the new government in taking forward its agenda on infrastructure, skilling, river cleaning and tourism.
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- South Asia
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The experimenters strike back in microcredit research
“GIVE a man a fish”, said Bono, an Irish singer turned philanthropist, “he’ll eat for a day. Give a woman microcredit, she, her husband, her children and her extended family will eat for a lifetime."
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PRESS RELEASE: Correlation Established Between Mobile Phone Usage and Banking Behavior
Findings are result of WSBI project carried out by Cignifi
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- Education
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My Day Without Banks
Lesson one from navigating the archipelago of check cashers, payday lenders, and discount store money desks: it’s expensive to be poor.
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Fighting Financial Exclusion: How To Serve 88 Million Americans Who Have No Bank
“Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor,” the great American author James Baldwin wrote in 1960.More than half a century later, his words ring true to the 46 million Americans who live below the poverty line and to the millions more who are struggling to stay above it.
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