Consultative Group to Assist the Poor (CGAP), Financial Services Innovation (CFSI), Bankable Frontier Associates, Entrepreneurial Finance Lab (EFL Global)
Three trends in technology are revolutionizing finance and in particular our ability to include youth in the formal financial sector. They are: Mobility – or the ability to remain connected wherever we are; Ubiquity – where we all have access to high powered tools (software) and Big Data – where number crunching programs enable analysis at an unprecedented scale. Learn from representatives of leading financial inclusion programs on how they are using these three trends to lower costs, improve analytical ability, and raise funds from new areas – all to promote access to finance for youth in the US and overseas.
National Microfinance Bank-Tanzania, Women's World Banking
Who should be responsible for ensuring the financial inclusion of youth in the long term? Is it the private sector, public sector, or a combination of both? In this session, Women’s World Banking, the National Microfinance Bank in Tanzania and Xac Bank Mongolia will share their perspectives and experiences in developing robust, double bottom line youth savings and financial capability programs where banks have also collaborated closely with their governments in order to further advance the financial inclusion agenda. Come learn about their approaches, see what aspects of these models are replicable, and share your own perspectives!
Al Majmoua, Chemonics International, Making Cents International
Providing credit for youth is difficult in most contexts due to their relatively smaller amount of experience and access to markets. However, in many operating environments, additional challenges of rurality, conflict, and migration are also present, making the sustainable provision of credit and savings services more difficult still. Hear three youth-inclusive financial service providers discuss the techniques they’ve used to successfully serve youth in the challenging environments of Yemen, Lebanon and Afghanistan.
Youth everywhere face challenges as they transition into adulthood, and for youth in developing countries, these challenges can be even more intense. Access to financial services can help them smooth this transition and yet youth are often excluded from financial services, either by policy or prejudice. As youth mature and become heads of their households, they will need access to and a working knowledge of financial services to enable them to be productive members of their societies.
Center for Technology Innovation at Brookings
Evaluating progress toward adoption of affordable formal financial services matters because financial inclusion is a key ingredient in promoting household well-being and broader economic development.1 The first annual FDIP report and scorecard, published in August 2015, addressed fundamental questions regarding ways to advance inclusive finance, including 1) Do country commitments make a difference in progress toward financial inclusion? 2) To what extent do mobile and other digital technologies advance financial inclusion? and 3) What legal, policy, and regulatory approaches promote financial inclusion?
African countries are experiencing the issue in varying degrees. Education and infrastructure problems are often cited. However, members of Future Forward, a network of leading social entrepreneurs, youth-serving professionals, and youth changemakers across Africa, have pinpointed a key — and often ignored — challenge: young people in Africa lack the opportunity to become authentic leaders.In other words, young people don’t have many options when it comes to leadership opportunities, in part due to mindsets around the capabilities of youth.
Mobile phone ownership gives women the ability to open a mobile phone-based bank account, an important gateway to financial independence. A private account gives women in developing nations control over their money as well as the ability to put food on the family table. A mobile phone also gives women the ability to open a business in a remote village, without having to trek to a distant city to register that business. And, with a phone, women in developing countries can more easily schedule a clinic appointment or register their children for school.
Microfinance Centre (MFC)
Jun 22, 2016 (All day) to Jun 24, 2016 (All day)
The over-arching conference theme considers the space that microfinance could occupy, if it fully embraces new technology, and the detachment it will suffer if it does not. This conference will be a key platform to debate the trade-offs, make the case for digital innovations, and critically examine what aspects of traditional service delivery need to be preserved. Importantly, it will be done by putting the experience of real institutions under the microscope.
The New York Times
Where kids grow up affects lifelong prospects: adults with the lowest incomes die on average as young as people in much poorer nations like Rwanda, and their life spans are getting shorter. The gap in life spans between rich and poor widened from 2001 to 2014. The top 1 percent in income among American men live 15 years longer than the poorest 1 percent; for women, the gap is 10 years. These rich Americans have gained three years of longevity just in this century. They live longer almost without regard to where they live. Poor Americans had very little gain as a whole, with big differences among different places.
National League of Cities
A young person’s first job is a critical developmental step toward adulthood. A first job provides an opportunity for youth to engage with the financial system and also infuses earnings into the local economy. In cities across the nation, youth employment programs are the single most significant way that hundreds of thousands of teens are introduced to the working world each year. With municipal ingenuity as well as private sector and philanthropic support, some city leaders and partners have developed innovative, locally-financed summer employment programs in recent years. Related year-round programs complement summer efforts, typically for smaller numbers of youth.