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Perspectives

Bridging the financial inclusion divide digest

Addressing purpose and profit through regulation

Policymakers are increasingly recognizing the importance of financial inclusion as not only a moral imperative but a business one, as well. Learn how six recently passed regulations and policies for financial inclusion could help address discrimination, promote access to banking for all, overhaul the credit reporting system, and advance racial equity.

What’s driving regulation for financial inclusion?

From pandemic-related challenges to social injustices, recent events have shone a spotlight on the urgent need for financial institutions to advance financial inclusion initiatives. Expanding access to affordable financial services for underserved and nonserved markets helps organizations meet urgent moral and business imperatives. Increasing regulatory focus on consumer protection is driving changes to laws and regulations for the financial services industry (FSI). Many financial institutions are taking bold steps toward financial inclusion by developing and offering a variety of products and services to help serve the furthest untapped markets.

Now, regulators have begun encouraging the industry to move toward a more inclusive approach to help boost economic opportunities among underserved and nonserved sectors, while maintaining the stability of financial systems. Several efforts are being made in the form of amendments to preexisting regulations to combat discrimination in the consumer financial marketplace, promote access to banking for all, overhaul the credit reporting system, and advance racial equity. With this push from regulatory reforms, there’s optimism about financial inclusion policy and progress.

Bridging the financial inclusion divide digest: Addressing purpose and profit through regulation

Six developments regarding regulation for financial inclusion

Insights to help your organization accelerate financial inclusion

Bridge the financial inclusion divide with our help

As new financial inclusion policies are passed, financial services organizations may need help navigating the challenges that come with them. If you’d like to talk more about your company’s financial inclusion efforts and how Deloitte can help it achieve a higher bottom line, let’s set up a conversation.

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