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Under the right circumstances, financial inclusion, stability, integrity, and consumer protection (I-SIP) can be positively related, and the failure to consider any one of these objectives can lead to problems.
The objective of STRIVE Philippines was to improve the well-being of vulnerable households—especially for the children and youth within those households—through a market-based approach to economic strengthening in targeted value chains. By improving and expanding existing commercial relationships of vulnerable households, the project’s aim was to promote sustainable and commercially viable solutions that can continue to provide benefits beyond the life of STRIVE Philippines.
Dr. Dean Karlan, Dr. Nava Ashrad, and Dr. Wesley Yin conducted an experiment in the Philippines, where they offered commitment savings products to a subset of 710 randomly selected clients of a Phillippine bank. Since after 12 months the average savings balances increased, this study demonstrated that commitment savings products can result in lasting change in savings beyond the initial, positive short-term response to the new product.
This brief video demonstrates the G-Cash product, a text-to-payment service. G-Cash is a new technology that allows microentrepreneurs to transfer funds and make payments using their mobile phones.
A Youth Financial Service practitioner describes how Hatton Bank (HNB) of Sri Lanka links youth and rural poor to financial services through both formal and informal avenues.