IFC, Mastercard Foundation Present Key Tool to Expand Digital Financial Inclusion
IFC, a member of the World Bank Group, together with the Mastercard Foundation, today released a digital study that presents a set of best practice financial modeling benchmarks for agent banking and mobile money solutions. These benchmarks will aid financial institutions as they launch or expand digital financial services for greater financial inclusion in emerging markets, a critical step in achieving inclusive economic growth.
The benchmarks are gathered together in a digital study that is available online: Aligning Expectations: The Business Case for Financial Inclusion. It will help financial institutions design sustainable business models for affordable and accessible financial services, targeting previously unbanked populations such as small-scale entrepreneurs, low-income individuals, and rural communities. The benchmarks are based on a four-year study of nine financial institutions pioneering agent banking and mobile money solutions in Sub-Saharan Africa.