Aims and goals
Barclays aims to enable previously excluded customers to benefit from simple financial products
We’re working to expand our reach, directly by improving access to products and services, and indirectly by partnering with governments, organisations and intermediaries to leverage their expertise and provide sustainable financial services to people in many of the markets in which we operate around the world.
Our strategy is based around the concept of a ‘journey to financial inclusion’. We aim to support people who are excluded from banking at every stage of this journey by enabling better access to the products, services, skills and knowledge they need to better manage their finances.
Poverty is multifaceted but as a financial services business we believe we have an important role to play in supporting access to sustainable banking services which can help people to help themselves out of poverty. In this way we can help create a sustainable solution to the issue.
Supply and demand
We are developing the supply of microfinance products, which are suitable for people who are currently excluded from formal banking. And in turn, we aim to increase demand for these products, by educating people about the benefits structured financial services can bring.
Business sense
Financial inclusion isn’t just an issue of responsibility for Barclays. It’s also one of good sustainable business. Inclusive banking provides valuable opportunities for us. Giving communities access to banking products developed to meet their specific needs benefits the people involved, and also extends Barclays reach to include new customers and new markets.
Diverse markets
Economic impacts
Around three billion people worldwide seek access to basic financial services which are essential to managing their lives. Creating inclusive financial systems is a priority for governments and institutions all over the world, as it can bring wider benefits both economically and socially and can be important in enabling previously excluded people to realise their potential. We recognise the value of partnering with expert organisations to broaden our reach.
Inclusive banking is an issue in both developed economies and emerging markets. From offering access to advice and information, to providing tailored products to suit local needs, we are committed to understanding our diverse customers and ensuring they have the capability to access appropriate and affordable financial services.
Financial inclusion isn’t just an issue of responsibility for Barclays. It’s also one of good sustainable business. Inclusive banking provides valuable opportunities for us. Giving communities access to banking products developed to meet their specific needs benefits the people involved, and also extends Barclays reach to include new customers and new markets.
