In just the past six years, 1.2 billion people worldwide have gained access to bank and mobile-money accounts.(1) This revolution in financial inclusion has the potential to offer a pathway out of poverty for hundreds of millions of people, and to spur broad economic growth.

Our Financial Services for the Poor strategy aims to expand the availability of affordable and reliable financial services that serve the needs of all, including the poorest.

Digital technology and changes in national policy are clearing away obstacles that once kept these services out of reach for many, but tough challenges remain.

We are working with our partners to support public and private investment in digital payment infrastructure, new regulatory standards, and gender equality initiatives such as digitized government benefit payments, to ensure continued progress toward the promise of financial inclusion.

Our team is led by Michael Wiegand and is part of the foundation’s Global Growth and Opportunity Division.

(1) World Bank, “Global Findex 2017”