In 2009, FAI founder Jonathan Morduch was part of a group that determined “half the world is unbanked.” Ten years later, the latest Global Findex tells us that the world’s unbanked population has been nearly cut in half. A combination of focused public and private efforts, aided by technology advances, yielded massive, though uneven, progress. It’s worth celebrating the gains, but also reflecting on what is still left to do. What lessons have we learned from the last 20 years that can close the rest of the inclusion gap? Why has inclusion in wealthier countries stalled? What does the inclusion agenda leave undone? How can technology be part of building more bridges to excluded communities?
This edition of the faiVLive was based on a new report from the Aspen Institute’s Financial Security Program, Building An Inclusive Financial System, that tackles those questions and more. Our panelists discuss where we go from here, and how actors from across the spectrum can help ensure that financial systems play a positive role in reducing poverty and vulnerability, and boost inclusive growth.
Featuring Payal Dalal, Mayada El-Zoghbi, Indradeep Ghosh, Rashmi Pillai, and Ida Rademacher.
Moderated by Timothy Ogden.
This faiVLive was presented jointly with the Aspen Financial Security Program and is part of the Household Financial Security Insight Community, in collaboration with the Mastercard Center for Inclusive Growth.
