the mif blog

Stories of inspiring entrepreneurs and organizations, discussion and commentary of new trends in private sector development, and the latest events and publications.

What good is capital without customers? Financial inclusion is necessary for healthy societies

By Tomas Miller

The financial inclusion strategies that several countries in Latin America and the Caribbean are adopting and incorporating into their national development policies aim at increasing access to and use of financial services for segments of the population that have been excluded or underserved by financial systems. These policies assume that achieving a higher level of financial inclusion is a necessary condition for increasing the social inclusion of these excluded people. What good is having a solvent and liquid financial system if it serves only businesses and powerful families? What good is capital without customers? 

Eligiendo ganadores en el mercado de remesas

By Guest

Las remesas son un negocio grande. Este año los clientes de remesas enviarán a través de canales formales unos $458 mil millones hacia países en desarrollo. El ingreso proveniente de las remesas para estos países en desarrollo es tres veces mayor que el presupuesto de ayuda mundial. Excluyendo a China, los flujos de remesas incluso sobrepasan la inversión extranjera directa. Sin embargo, los servicios de remesas no son conocidos por su capacidad de brindar una gran experiencia al cliente. He aquí el por qué.

Moving forward on aging and financial inclusion

By Guest

By Allyse McGrath, Senior Associate, Center for Financial Inclusion at Accion

Developing countries are aging at a rapid rate, and Latin American countries are a particularly strong example of this trend. In Peru, for example, the ratio of people over the age of 65 will jump from 1 in 10 to 1 in 4 by 2050. This demographic shift represents both a great challenge and a great opportunity, particularly in the field of financial services. 

Are you really saving for your retirement?

By Avril Perez

So, are you really saving for your retirement? Don’t worry, you don’t have to answer. Nonetheless, today across the globe there is a significant (more like worrisome) percentage of the population NOT saving for their retirement. It is estimated that in a developed nation like the United States, more than 36% of the population has no savings for retirement.

Saving for a better retirement

By Andrea Reyes Hurtado

According to the book Better Pensions, Better Jobs, published in 2013 by the IDB, in Latin America and the Caribbean (LAC) 130 million workers are not saving towards their pensions. It also states that only 4 out of 10 workers currently contribute to a pension system. This data points to how critical this issue currently is amongst the most vulnerable segments. This is where lessons learned on inclusive savings play a relevant role and provide the basis for designing strategies that incorporate products focused on retirement savings.