Project Details
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What Is Financial Inclusion?
Is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way. Financial inclusion is defined as the availability and equality of opportunities to access financial services.[1] . One of its aims is to get the unbanked and under-banked to have better access to financial services. The availability of financial services that meet the specific needs of users without discrimination is a key objective of financial inclusion. Financial inclusion is also the pursuit of making financial services accessible at affordable costs to all individuals and businesses, regardless of net worth and size, respectively.
Financial inclusion strives to address and proffer solutions to the constraints that exclude people from participating in the financial sector. It is also called inclusive financing.
How Financial Inclusion Works
The financial sector is continually coming up with new and seamless ways to provide services to the global population. The increase in the use of technology in the financial industry seems to have filled the void of inaccessibility to financial services. The advent of has created a way for all entities to have access to all financial tools and services at reasonable costs.
Examples of Financial Inclusion
Examples of developments that have increasingly been embraced by financial users include crowd-funding, robo-advisers, digital payments, peer-to-peer (P2P) or social lending, and insurance telematics. While these innovative services have disrupted the financial world by including more participants in the money sector, there is still an untapped portion of the world population that remain unbanked or under-banked.
IDEE - FINER
This is one of the perfect example of a program practicing inclusive financing ,this initiative started in 2016 and since then we have leveraging on large market in Nigeria reaching more than 600 with 30 groups in 14 communities, a unique component of our program is our social development which is our selling point, we pride ourselves as financial inclusion ambassadors, our social development programs has also reach an equivalent number of the above beneficiaries if not more, these programs include Health and Nutrition, Environment and climate change, gender based violence children's and girls education, skills transfer(vocational training) women and girls right, and peace and conflict resolution we have successfully integrated these programs into our financial inclusion initiative.we have been able to reach this milestone in short period as a result of the dedicated and professional hands handling the programs
