It is estimated that, globally, two billion people do not have access to formal financial services. There is, however, a growing financial inclusion commitment in international development circles to enable low-income individuals, households, and small businesses to gain access to relevant and adequate financial services, contributing to improvements in incomes and livelihoods.
Nonetheless, financial service providers are not always successful in developing truly client-centric products and services that meet customer needs. This is why The MasterCard Foundation decided to launch this Prize.