ITU Blog: ITU to join new global initiative to expand digital financial inclusion
Just over two years ago, the Bill & Melinda Gates Foundation joined ITU to establish a Focus Group on Digital Financial Services for Financial Inclusion. The goal was to tackle some of the main challenges countries face when promoting access to finance through ‘mobile money services’ which have proved successful in a number of emerging markets.
The financial-services and ICT sectors are increasingly converging – and the aim of the Focus Group has been to bring all the key players together to build a common understanding of the route to broader financial inclusion.
The terms of reference at the outset of the Focus Group’s work were expansive enough to be intimidating. The scope of work was far too broad for any one initiative to cover. Yet, this broad scope of work has in fact proven to be the group’s greatest strength.