Measuring progress on financial and digital inclusion
Approximately two billion adults across the world lack access to formal financial services. To address this particular economic challenge, many developing countries have made significant efforts to expand access to and use of affordable financial services for the world’s poor. Financial inclusion can be achieved via traditional banking offerings, but also through digital financial services such as mobile money, among other innovative approaches.
The Brookings Financial and Digital Inclusion Project (FDIP) Report and Scorecard seeks to help answer a set of fundamental questions about today’s global financial inclusion efforts, including;
- Do country commitments make a difference in progress toward financial inclusion?
- To what extent do mobile and other digital technologies advance financial inclusion?
- What legal, policy, and regulatory approaches promote financial inclusion?
To answer these questions, Brookings experts John D. Villasenor, Darrell M. West, and Robin J. Lewis analyzed financial inclusion in 21 geographically, economically, and politically diverse countries. This year’s report and scorecard is the first of a series of annual reports examining financial inclusion activities and assessing usage of financial services in selected countries around the world.
On August 26, the Center for Technology Innovation at Brookings held a forum to launch the 2015 FDIP Report and discuss key research findings and recommendations. Financial inclusion experts from the public and private sectors also joined the discussion.