Challenges and initiatives
In a short period of time the inclusive finance sector has grown extensively, serving millions of people around the world. The expansion of the sector was possible through capital from private and commercial sources. Donor money alone was not sufficient to satisfy the demand. This expansion has led to professionalisation but it also changed the landscape – there is now a large variety of actors that financial institutions, such as microfinance institutions (MFIs), have to deal with.
Within the sector, various initiatives were started to address these challenges of a growing industry to make sure that the products and services offered by financial institutions matched the needs of clients in a responsible way.