The Role of the Financial Services Sector in Expanding Economic Opportunity

This paper examines the role of large commercial financial institutions such as domestic and multinational commercial banks in expanding economic opportunity. The paper is part of the Economic Opportunity series that explores four key strategies that companies can use to expand economic opportunity. It explores market opportunities in working with low income individuals and small enterprises. It outlines government measures in various countries to mitigate and manage risks associated with expanding markets. It discusses business models that promote financial inclusion and lists strategies of financial institutions for expanding economic opportunity. The paper states that large commercial banks can play a crucial role in transforming financial markets to expand economic opportunity for the poor. It suggests opportunities for the financial services sector to enhance its impact. These include:

• Using multi pronged strategy for expanding economic opportunity;
• Funding economic opportunity strategies through creative means;
• Collaborating with other financial service institutions and traditional social networks.