Making Access to Financial Services Possible

Making Access to Financial Services Possible (MAP) is a multi-country initiative to support financial inclusion through a process of evidence-based analysis feeding into a financial inclusion roadmap jointly implemented by a range of local stakeholders.

 

Partnering for a common purpose

 

MAP was initiated in partnership between Cenfri, the United Nations Capital Development Fund (UNCDF) and FinMark Trust. In each country, MAP brings together a broad range of stakeholders from within government, the private sector and the donor community to create a set of practical actions aimed at extending financial inclusion tailored to that country.

 

MAP has been rolled out so far in Botswana, Cambodia, Côte d'Ivoire, Ethiopia, Democratic Republic of Congo, Laos, Lesotho, Madagascar, Malawi, Mozambique, MyanmarNepal, Swaziland, Thailand, Zambia and Zimbabwe

 

What will MAP achieve? 

 

The MAP framework is an organized and methodical approach to identifying problems and challenges that inhibit the expansion of access to financial services for individuals, small businesses and micro businesses. It gathers together a wide range of stakeholders to collectively consider the distinct characteristics of financial access within a specific country. Based on evidence and dialogue this process leads to the development of a national financial inclusion roadmap. The roadmap identifies key drivers of financial inclusion as well as specific actions that will contribute to greater financial inclusion in the country.

 

MAP recognizes that a wider range of stakeholders must be involved in market development activities in order to deliver the increased range of financial services that will better meet the needs of the various segments of the population.

 

It is grounded within the "political economy" analytical framework which attempts to bridge the traditional concerns of politics and economics. This framework focuses on how power and resources are distributed and contested in different contexts and how development outcomes are affected as a result.

 

The MAP approach gets beneath the formal structures to reveal underlying interests, incentives and institutions that enable or prevent change. The insight this provides is important because it enables the drivers behind stakeholder actions to be unpacked and makes sure that actions taken towards practical solutions are embedded within stakeholder interests, strategy and long-term vision.

 

The MAP investigation and analysis attempts to work within existing structures and institutions in a country to identify practical solutions.

 

The MAP takes a client-centric approach which clearly states and details the customer perspective in a holistic view that considers demand, supply and regulatory aspects against the political economy analytic framework discussed above.

 

MAP attempts to build a picture of market demand based on household and individual income, economic activity and current usage of financial services.

 

Using an analytical framework that actively highlights market activity and potential opportunity MAP attempts to:

  • Encourage providers of financial services to deliver products and services to those segments of the population that are currently underserved;
  • Enable policymakers and regulators to understand current policies and regulations that are inhibiting market growth; and
  • Develop a strategic vision on financial inclusion and ways to achieve delivery.

What sets MAP apart?

 

MAP is different from other diagnostic initiatives in that it seeks to:

  • Take an integrated view of the financial sector – covering demand, supply and regulation across four product areas (savings, electronic payments, credit and insurance). The integrated view places various products and players in context and explores the ability and willingness of the formal sector to serve the excluded and underserved market.
  • Build a holistic picture of the drivers of financial inclusion and the 'ecosystem' within which the financial services sector has to be evaluated, and in doing so provide stakeholders with the language and a framework for facilitating financial inclusion, both in changing environments and systems in transition.
  • Place the potential customer’s perspective (or ‘demand-side’ perspective) at the core of the analysis and make use of both the FinScope Survey methodology (quantitative data) and qualitative demand-side research to provide an informed view.
  • Identify context-related, market-related and regulatory barriers or obstacles to expanding financial inclusion, and devise strategies for overcoming them.
  • Not just extend the coverage of financial products, but improve welfare through financial services that offer value to consumers.
  • Use the diagnostic research process to generate an evidence base for a process of engagement to generate buy-in, and to begin or accelerate the development of a practical set of actions to achieve financial inclusion public policy objectives.
  • Engage a wider set of stakeholders (including some not traditionally involved in the delivery of financial services) in the stakeholder process, to encourage market development.
 

Making Access to Financial Services Possible

Making Access to Financial Services Possible (MAP) is a multi-country initiative to support financial inclusion through a process of evidence-based analysis feeding into a financial inclusion roadmap jointly implemented by a range of local stakeholders.

 

Partnering for a common purpose

 

MAP was initiated in partnership between Cenfri, the United Nations Capital Development Fund (UNCDF) and FinMark Trust. In each country, MAP brings together a broad range of stakeholders from within government, the private sector and the donor community to create a set of practical actions aimed at extending financial inclusion tailored to that country.

 

MAP has been rolled out so far in Botswana, Cambodia, Côte d'Ivoire, Ethiopia, Democratic Republic of Congo, Laos, Lesotho, Madagascar, Malawi, Mozambique, MyanmarNepal, Swaziland, Thailand, Zambia and Zimbabwe

 

What will MAP achieve? 

 

The MAP framework is an organized and methodical approach to identifying problems and challenges that inhibit the expansion of access to financial services for individuals, small businesses and micro businesses. It gathers together a wide range of stakeholders to collectively consider the distinct characteristics of financial access within a specific country. Based on evidence and dialogue this process leads to the development of a national financial inclusion roadmap. The roadmap identifies key drivers of financial inclusion as well as specific actions that will contribute to greater financial inclusion in the country.

 

MAP recognizes that a wider range of stakeholders must be involved in market development activities in order to deliver the increased range of financial services that will better meet the needs of the various segments of the population.

 

It is grounded within the "political economy" analytical framework which attempts to bridge the traditional concerns of politics and economics. This framework focuses on how power and resources are distributed and contested in different contexts and how development outcomes are affected as a result.

 

The MAP approach gets beneath the formal structures to reveal underlying interests, incentives and institutions that enable or prevent change. The insight this provides is important because it enables the drivers behind stakeholder actions to be unpacked and makes sure that actions taken towards practical solutions are embedded within stakeholder interests, strategy and long-term vision.

 

The MAP investigation and analysis attempts to work within existing structures and institutions in a country to identify practical solutions.

 

The MAP takes a client-centric approach which clearly states and details the customer perspective in a holistic view that considers demand, supply and regulatory aspects against the political economy analytic framework discussed above.

 

MAP attempts to build a picture of market demand based on household and individual income, economic activity and current usage of financial services.

 

Using an analytical framework that actively highlights market activity and potential opportunity MAP attempts to:

  • Encourage providers of financial services to deliver products and services to those segments of the population that are currently underserved;
  • Enable policymakers and regulators to understand current policies and regulations that are inhibiting market growth; and
  • Develop a strategic vision on financial inclusion and ways to achieve delivery.

What sets MAP apart?

 

MAP is different from other diagnostic initiatives in that it seeks to:

  • Take an integrated view of the financial sector – covering demand, supply and regulation across four product areas (savings, electronic payments, credit and insurance). The integrated view places various products and players in context and explores the ability and willingness of the formal sector to serve the excluded and underserved market.
  • Build a holistic picture of the drivers of financial inclusion and the 'ecosystem' within which the financial services sector has to be evaluated, and in doing so provide stakeholders with the language and a framework for facilitating financial inclusion, both in changing environments and systems in transition.
  • Place the potential customer’s perspective (or ‘demand-side’ perspective) at the core of the analysis and make use of both the FinScope Survey methodology (quantitative data) and qualitative demand-side research to provide an informed view.
  • Identify context-related, market-related and regulatory barriers or obstacles to expanding financial inclusion, and devise strategies for overcoming them.
  • Not just extend the coverage of financial products, but improve welfare through financial services that offer value to consumers.
  • Use the diagnostic research process to generate an evidence base for a process of engagement to generate buy-in, and to begin or accelerate the development of a practical set of actions to achieve financial inclusion public policy objectives.
  • Engage a wider set of stakeholders (including some not traditionally involved in the delivery of financial services) in the stakeholder process, to encourage market development.