Supporting Locally Generated Ideas for Development
Mitchell Strauss, Overseas Private Investment Corporation
In many markets, local entrepreneurs/activists are developing the best ideas to support local development and economic empowerment for their community. These ideas often tap into the unique dynamics of that market, directly address community needs and have grassroots support. The goal of this panel is to discuss the best ways for international investors and donors to find, support and scale these locally developed platforms and businesses. One endeavor is a simple, mobile-first platform that offers a new approach to banking, saving and investing, tied together by a token-based social passport where positive impact is encouraged and rewarded.
circular economy, Digital Financial Inclusion, Retail Investment, transformative development, unbanked
Thomas Schumacher, Digital Financial Inclusion Fellow, OPIC Dia Martin, Managing Director, Social Enterprise Finance, OPIC
Nigel Kershaw OBE Group Chair, The Big Issue
www.bigissue.com COUNCIL OF ECONOMIC ADVISERS ISSUE BRIEF JUNE 2016 "FINANCIAL INCLUSION IN THE UNITED STATES Slightly more than half (53 percent) of smartphone owners with bank accounts had used mobile banking in the last year, according to a 2015 survey conducted by the Federal Reserve Board of Governors. The same survey found that 40 percent of the unbanked had a smartphone, as did 70 percent of underbanked individuals. THOUGHTWORKS 1 JUN 2016 "IS TECHNOLOGY THE ANSWER TO REDUCING FINANCIAL EXCLUSION?” Mobile Banking Platforms. As smartphones become increasingly cheaper (under $100), digital banking can become the norm for those who are currently underserved.