Innovate. Catalyze. Connect.
CGAP works to make financial services meet the needs of poor people
The Consultative Group to Assist the Poor is an independent think tank dedicated to financial inclusion. Through our work, we seek to empower poor people to capture opportunities and build resilience through financial services. We test, learn and develop innovative solutions through practical research and active engagement with our partners on building responsible and inclusive financial systems that help people move out of poverty, protect their gains and advance global development goals.
CGAP has developed a typology to help policy makers and financial service providers evaluate the financial inclusion potential of a new range of collaborative approaches to customer due diligence to combat money laundering and terror financing.
Globally, people pay an average fee of 6.9 percent to send money to family and others abroad. In one of Asia’s largest remittance corridors, between Malaysia and the Philippines, the average fee is only 3.7 percent. Smart policies have played an important role in bringing prices down.
There’s a better way to deliver government-to-person (G2P) payments. Modernizing the delivery architecture can increase value for customers, lower government costs and create competition among financial service providers.
Computers can make faster, better, and less biased lending decisions than humans, but only if human bias hasn’t crept into their algorithms.
