To date, the financial inclusion industry has focused on measuring two key indicators: access and use. These indicators measure financial inclusion outputs, such as the number of adults with an account or a loan, and have enabled comparisons across countries, but they do not provide insight into financial health outcomes.
Measuring financial health outcomes would allow relevant stakeholders to assess the extent to which financial inclusion efforts actually improve people’s ability to manage daily expenses, prepare for and overcome financial shocks, achieve life goals, and take advantage of opportunities for economic mobility.
FinnSalud is a 3.5-year project (2019-2022) supported by MetLife Foundation, fiscally sponsored by Rockefeller Philanthropy Advisors, and managed by BFA Global in Mexico.
Shortly after our FinnSalud launch in the last quarter of 2019, the world changed as the COVID-19 crisis took hold. As a result, FinnSalud quickly shifted gears and began operating in emergency response mode. We decided to prioritize real-time research on the financial impacts of the crisis on households and small businesses in Mexico; evaluating scenario analyses to inform our response; and developing tools and initiatives to support our cooperative partners through this process. We are currently updating our strategy to address the new financial health challenges of the Mexican population brought about by this global pandemic.
All findings, insights and learnings are broadly shared with local and global audiences, carving out a path toward improving the financial health of the Mexican population. Read more about the project’s shift.
With our pre-existing principles of action, we believe FinnSalud has all the necessary elements to coordinate a response that can help economically vulnerable populations in Mexico.