Impact-Investing Initiative Announces Close of Investments in Seed-Stage Companies that Provide Payments, Healthcare and Microinsurance Products to Clients at Base of the Pyramid
Read the press release >>
Accion announced today that it has been selected for the ‘ImpactAssets 50 2013’, an annual listing of top impact investment fund managers, for the third year in a row. The IA 50 is the first publically available database of private debt and equity impact investment fund managers, and serves as a gateway for those interested in achieving social and/or environmental, as well as financial, returns on their investments.
President and CEO of Accion, Michael Schlein, discusses how we can make financial inclusion a reality in his latest Huffington Post article.
Read the article on the Huffington Post >>
The Center for Financial Inclusion at Accion launched today the Financial Inclusion 2020 Global Forum with remarks from Michael Corbat., CEO of Citi (NYSE: C); Ajay Banga, president and CEO of MasterCard (NYSE: MA); and Bill Sheedy, global executive, corporate strategy, M&A, and government relations of Visa Inc. (NYSE: V). This diverse coalition has attracted more than 300 other leaders in finance, technology, government and the nonprofit community to chart a course to make full financial inclusion a reality by 2020, just weeks after World Bank President Jim Yong Kim embraced the same goal.
Michael Schlein, President and CEO of Accion, has announced the organization’s 2013 commitment to the Clinton Global Initiative. Our commitment is based on the Center for Financial Inclusion at Accion’s efforts around Financial Inclusion 2020, a global, multi-sector effort that seeks to answer the question: What does the world have to do to achieve full financial inclusion by the year 2020?
Watch the announcement here or read the commitment on the Clinton Global Initiative website.
The President of the World Bank, Jim Yong Kim, has announced an initiative to provide universal financial access to all working-age adults by 2020.
Read more on the Center for Financial Inclusion Blog >>
The Smart Campaign, a global initiative to incorporate strong client protection practices across the microfinance industry, today announced the first three microfinance institutions in Latin America to become Client Protection Certified for meeting strong standards of client care: Pro Mujer Mexico, and Fundación Mundo Mujer Popayan and Crezcamos in Colombia.
More than half the countries in the Economist Intelligence Unit’s 2013 Global Microscope improved their microfinance scores in the past year, evidence of the commitment of many governments and institutions to deepening financial inclusion.
For the first time ever, all five members of the Accion U.S. Network, the largest micro- and small business lending network in the United States, were awarded grants from the Community Development Financial Institution (CDFI) Fund. The CDFI Fund uses federal resources to invest in CDFIs to build their capacity to serve low-income people and communities that lack access to affordable financial products and services.
Financial Inclusion 2020 today announced the launch of the Roadmap to Financial Inclusion, a series of recommendations designed to expand access to quality financial services globally.
Accion and the Smart Campaign have been featured in the recently released Forbes 400 Philanthropy Summit report, ‘Alleviating Global Poverty’, sponsored by Credit Suisse.
Today, the Center for Financial Inclusion at Accion announced that Michael Corbat, CEO of Citi and Ajay Banga, CEO of MasterCard (NYSE: MA) will attend and deliver remarks at the Financial Inclusion 2020 Global Forum. Taking place in London on October 28-30, 2013, the Forum is a one-time event that will promote a global agenda for bringing about the financial inclusion of more than 2 billion people around the world.
The Center for Financial Inclusion at Accion and MasterCard released Growing Income, Growing Inclusion: How Rising Incomes at the Base of the Pyramid Will Shape Financial Inclusion. The report shows that rising incomes among the world’s poor and near-poor are creating a vast new market for financial services. These shifts highlight the next challenge on the path to financial inclusion – designing ways to successfully serve new and untraditional banking clients.
The Center for Financial Inclusion at Accion today announced that it has received a $400,000 grant for its Financial Inclusion 2020 project from the Bill & Melinda Gates Foundation. The FI2020 project is building a global movement to expand the reach and benefits of a range of quality financial services, using the year 2020 to spark action.
Today, Accion announced the first five investments by Venture Lab, its $10 million seed capital initiative, which invests in start-up companies that help expand global financial inclusion. A pioneer and leader in bringing financial services to the underserved, Accion launched Venture Lab in April, 2012.
Accion President and CEO Michael Schlein addressed students and members of Columbia University’s Microlumbia Fund at their 6th annual conference on May 3rd in New York City.
Elisabeth Rhyne writes in The Guardian: "Financial inclusion policy makers and providers must understand how financially included and excluded people manage their money, because improved money management is in itself one of the main objectives of financial inclusion and because wrong assumptions about money management can lead to failed products and client indifference."
By providing small loans that average just $10,000 in the U.S., leading microlenders Accion and Opportunity Fund are significantly contributing to small business sustainability, as well as increases in income and job creation according to their microTracker lending outcomes study – U.S. Microfinance: Small Loans, Big Results.
Accion today pledged support for the Smart Campaign’s Client Protection Certification Program. The program, created by the Center for Financial Inclusion at Accion, launched in January to ensure that client-protection standards are both achievable and valued by the microfinance industry.