The MasterCard Foundation Wants to Change the Financial Game for World’s Poor

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Financial Inclusion

The MasterCard Foundation Wants to Change the Financial Game for World’s Poor

Bangalore, India. Photo: shankar s. (flickr)

Wiry, with a youthful face beneath graying hair, Kumar works long hours driving an auto-rickshaw on the traffic-jammed streets of Bangalore. 

The video is meant to raise awareness about financial products that are meaningful and valuable to people like Kumar, whose needs are so different from those of typical Western customers.

Seated beside his wife, Kumar says he doesn’t apply for loans. Instead, he relies on his savings “to earn money and stand on [my] own.” He points to the ceiling and walls and says, “For me, my house is everything.”

For many of India’s poorest residents, children are everything.

“People see investing in their children as investing in the future,” says Tanaya Kilara, of the World Bank’s Consultative Group to Assist the Poor, which produced the video.

Listening to customers’ everyday needs can solve short-term problems, but listening to their dreams—like funding a child’s education—might help companies, banking institutions and NGOs create financial products that actually change the economic trajectory of that family.

Learn about real ideas to address solutions to problems the world’s poor face: check out the "virtual drafting table" WorkSpace which launched at the second annual MasterCard Foundation Symposium on Financial Inclusion.

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