Do You Need a Bank to be 'Banked'?
The Role of Technology in Bringing Financial Services to the Unserved Two Billion
Organized on behalf of the Department for International Development
More than two billion people in developing countries have no access to financial services such as bank accounts, formal credit or remittances. This acts as a constraint on economic growth by reducing the ability of poor people to decrease their vulnerability, improve their incomes and pay for health care and education.
The UK's Secretary of State for International Development, Rt Hon Douglas Alexander MP, will speak about the role of innovation and new technologies like mobile banking in delivering financial services to poor people. He will launch a new programme, Facilitating Access to financial Services through Technology (FAST), a UK initiative which will support the testing of these new technologies and facilitate the development of infrastructure and the regulatory frameworks that can dramatically reduce the cost of delivering financial services. He will challenge industry and regulators to deliver financial services cheaply and safely to unserved clients in hard to reach areas.
The keynote speech will be followed by a panel discussion, which will be held under the Chatham House Rule.
Rt Hon Douglas Alexander MP
Secretary of State for International Development, UK
Global Head of Microfinance
Global Head, International Mobile Payment Solutions
Senior Microfinance Specialist
Chief Executive Officer and Co-founder
Chair and moderator
Professor Tim Unwin
UNESCO Chair in ICT4D
Royal Holloway, University of London
The event will be followed by a drinks reception hosted by the Department for International Development.