Bringing the Hidden Giants to the Footlight: the Role of Savings and Retail Banks in Increasing the Level of Access to Financial Services

Never has the issue of access to finance been higher on the agenda of international organisations and national government agencies. Never has there been such a flow of funding to microfinance organisations. And never has one witnessed such a string of initiatives in the access to finance field. At the same time, practitioners, donors and beneficiaries alike ignore an important player in the access to finance field: savings banks (including postal savings banks) and socially committed retail banks. A large majority of savings banks have evolved from being deposit-taking institutions to full-service institutions that offer credits, insurances and payments to the mass market.

This article provides a short overview of the role of savings and retail bank members of the WSBI (World Savings Banks Institute)1 in the field of access to finance and as advocates for enhanced cooperation with MFI institutions to add value to existing infrastructure. read more…