Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

22622

MIX and MetLife Foundation to promote financial inclusion in Mexico, Myanmar, Turkey and Vietnam

RELATED TOPICS​

MIX has formed a USD825,000, two-year partnership with MetLife Foundation to promote financial inclusion by providing insight into financial service access in Mexico, Myanmar, Turkey and Vietnam.

Through data, analytical tools and interactive dashboards, decision makers in these countries will have a new resource to ensure positive social outcomes for the financially underserved.
 
Over the past decade, a growing number of countries have begun promoting financial inclusion as a national priority by either mandating or challenging financial service providers to cater to the underserved and unbanked. However, a deficiency of data around access to and usage of financial services is slowing progress and measurement. As decision makers (e.g. government officials, policymakers, and financial service providers) seek to both expand and target their efforts, they need data to identify which regions to prioritise for policy intervention, which markets to enter, and which services to offer in those markets.
 
Launched in 2014, FINclusion Lab is a data analytics platform designed to help users make sense of financial inclusion data through interactive dashboards and maps.
 
“Innovative and effective use of data can really push the boundaries on advancing financial inclusion. We are delighted to partner with MIX, a forward-looking organisation, which is standardising and integrating data points from numerous sources to facilitate insights, business planning and financial inclusion measurement. This will move the industry forward in a very meaningful way,” says Dennis White, president and CEO of MetLife Foundation.
 
MIX’s work through FINclusion Lab aligns directly with MetLife Foundation’s focus on Access to Insights.
 
“In most countries, the data exists to answer questions about the status of financial services provision, but it’s fragmented, inconsistent and incompatible,” says Jeff Binstock (pictured), CEO of MIX. “With MetLife Foundation’s emphasis on developing insights within the financial inclusion industry, we can now bring the existing data together in one place and share our findings with key decision makers in these countries. It will enable leaders to better inform their financial inclusion strategies and measure progress against their goals.”
 
By supporting thoughtful analyses of access, quality and usage, the partnership will encourage financial service providers, market developers and government agencies to deliver responsible financial services to underserved communities.
 
Binstock adds: “In the end, the ultimate beneficiaries of these efforts are unbanked or underbanked individuals and businesses, who will finally have access to financial products that meet their needs.”

Latest News

The trading and investment platform eToro has extended its proxy voting feature to all stocks..
C8 Technologies, the London-based fintech founded by former BlueCrest Capital Management partners Mattias Eriksson and..
DWS has announced the latest development in its strategic growth push in Alternative Credit with..

Related Articles

Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Pension funds
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are coming together to instigate a new industry coalition...
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by