With major advancements in financial inclusion over the previous decade, the industry is shifting its focus to ensure that inclusion translates to financial well-being. BFA Global is one of the leading players working to practically measure and improve financial health globally. We aim to develop solutions that will enable underserved communities to engage in better day-to-day financial management, save for the future, hedge against shocks and actively engage with digital financial services.
For startups and other financial service providers, financial health means a deeper consideration of how customers use financial products and what value those products are providing. This brief explores three specific areas of opportunity: 1) digital savings, 2) long-term financial products and plannings and 3) insurtech.