'

"Financial institutions have played a critical role in reaching underserved populations and providing them with access to the formal financial system, allowing them to make payments, save, invest and prosper. The next challenge will be to reach the remaining un-banked and under-served. The IIF welcomes the opportunity to work with the Center for Financial Inclusion at Accion to understand and exchange best practices across financial institutions and explore in depth how financial institutions can solve practical challenges to reaching underserved customers. The IIF Board would also like to thank MetLife Foundation for their generous sponsorship of this effort through a grant to CFI, and appreciates their continuing leadership on this important issue."

'

The new effort builds on the findings of' The Business of Financial Inclusion , a joint report by the IIF and CFI funded in part by MetLife Foundation that addressed the underreported role of banks in driving financial inclusion, bank's business strategies for inclusion, how technology and partnerships can enable inclusion and where banks saw obstacles going forward.

'

The IIF launched its financial inclusion efforts in 2013 through the support of BBVA, an IIF board member firm that continues to be a leader in financial inclusion efforts.'

'

'

###

'

The Institute of International Finance is the global association of the financial industry, with close to 500 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and' sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.' '