FHI 360 and The Rockefeller Foundation have just published a pioneering Atlas that presents 63 novel and compelling innovations that promote economic stability for individuals, communities, firms, and countries, with an emphasis on the welfare of poor and vulnerable people worldwide.
The Atlas curates the most exciting innovations already being implemented across the world, and has found that some of the most strong and diverse innovation “hot spots” are India, Kenya, and the U.S., with Indonesia standing out for the use of data and innovation tools in government, and Brazil innovating in public safety-related domains.
Regarding financial inclusion, the research has identified the democratization of data access on mobile devices and the trend towards more inclusive financialization to be two of the big trends that are supporting economic stability. According to the report, the financial sector has unleashed a great deal of interest, creativity, and capital on the global development agenda, moving beyond microfinance into mobile payment and lending. The Atlas highlights that the data that formerly “financially invisible” mobile users generate allows banks to more accurately assess risks and more confidently extend new credit and insurance products while preventing over-indebtedness of borrowers.
To find out more about the various innovations, you can access the Atlas here: