Financial inclusion – the effective access to and use of available, affordable, convenient, quality and sustainable financial services – central to poverty reduction and to inclusive and sustainable development, is an enabler of the post-2015 development agenda. Still, many remained without a bank account in 2014.

This Policy Brief aims to highlight several components of a best-fit policy mix to expand financial inclusion.

Key points:

• Innovative business models and new technologies have large potential in overcoming access barriers;

• Governments have an important role in setting up sound regulatory frameworks and conditions to expand the supply and affordability of financial services, to ensure that such services remain supportive of the real economy, and to create an expanded demand for them, such as through financial education and empowerment;

• Actions towards financial inclusion could contribute to facilitated, speedier, safer and less costly transfer of remittances, the importance of which is also recognized within the sustainable development goals (SDGs).