BSR Insight | Bringing Access to Finance to Supply Chain Workers
About the Author(s)
Chhavi Ghuliani, Manager, Advisory Services
Publication Date
June 21, 2011
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Approximately 2.5 billion adults do not use formal financial services to save or borrow money, and 90 percent of them live in the developing world. Companies across all sectors can work through their supply chains to address barriers to access by offering financial education programs and products through automated payroll and direct deposit schemes. This can ensure that workers are paid the right amount and at the right time, and prevent fraud that sometimes occurs in factories and erodes take-home pay.
To guide companies, BSR and the financial education nonprofit Microfinance Opportunities will be hosting a virtual roundtable on this topic on June 23. Attendees will hear from experts on:
- Existing programs that can expedite the learning process for supply chain managers looking to overcome financial exclusion and reduce program-development time and costs
- An approach to understanding barriers to access that differs across regions: Implementation must involve engagement with the target audience.
- Supply and demand constraints: Many low-income workers have never been part of the formal financial system and must learn the benefits of formal savings.
- The value of partnerships: Partners can help design and deliver innovative, locally relevant products and education programs.
For more information on financial inclusion, contact Chhavi Ghuliani.
About the Author(s)
Chhavi Ghuliani, Manager, Advisory Services
With a strong management background, Chhavi brings critical leadership to BSR, with a particular emphasis on sustainability in emerging markets including India, Latin America, and the Middle East... Read more →
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