Financial inclusion. Innovative financial solutions for all.

Credit Suisse has been an active donor and investor in the field of financial inclusion and microfinance for nearly two decades. Our Financial Inclusion Initiative complements our impact investing business and focuses on strengthening microfinance institutions' and other financial services providers' ability to serve the financially excluded.

The bank also collaborates with specialized asset managers to offer a range of microfinance investment funds, and has been pioneering the development of new funds and products in-house, as well as IPOs and bond issuances to finance microfinance institutions.

What is financial inclusion?

Around the world, only a fraction of those who need financial services are able to access them. Financial inclusion encompasses the provision of small or very small loans, savings accounts and other financial services to the un/underbanked including microenterprises and individuals, in emerging and developed economies. While not a UN Sustainable Development Goal (UN SDG) in and of itself, we see financial inclusion as a key enabler to the achievement of the Goals and an important factor in accessing many other essential needs and services in the formal economy, including health care, education and nutritious food.

How financial inclusion started

Financial inclusion started with microfinance. This relatively simple concept involves providing working capital loans as small as USD 100 or less to the poor – who have little or no collateral – in groups, so that members guarantee repayments.

Over time, the services have expanded from these group loans to individual lending, and from loans to insurance, savings and fund transfers. These traditional microcredits and savings programs have proven to be effective solutions for micro-entrepreneurs and low-income households in developing countries. However, as their financial needs evolve, so does the demand for more sophisticated products and services from microfinance institutions (MFIs). Today, MFIs, fintechs, mobile operators and other actors are all actively working towards the realization of financial inclusion for excluded parties.

For more information on financial inclusion, visit the FAQs of the World Bank.

Financial inclusion in Private Banking

Responsible investments (for clients in Switzerland only)

Our Commitment

Credit Suisse offers its clients investment opportunities in the area of financial inclusion. It also gives microfinance institutions (MFIs) access to the capital markets through the investment bank, and facilitates market development and innovation through the Financial Inclusion Initiative (FII; formerly the Microfinance Capacity Building Initiative).

Credit Suisse was one of the first financial institutions in Switzerland to recognize the potential of microloans, and has been an active donor and investor in the field for nearly two decades. Together with a small number of early movers, Credit Suisse founded responsAbility Investments AG in 2003 and today collaborates with them and other specialized asset managers to offer a range of microfinance investment funds.

Demand for microfinance investments is rising steadily as they yield both financial and social returns. By end of March 2020, the responsAbility Global Micro and SME Finance Fund, which reported more than 750 million USD in assets under management, had provided loans to hundreds of thousands of microentrepreneurs in 61 countries through more than 170 MFIs.

A private equity fund that was launched in 2007 also enables investors to participate directly in small and medium-sized enterprises and MFIs.In addition, Credit Suisse has pioneered the development of new funds and products in-house, as well as IPOs and bond issuances to finance MFIs through our capital markets groups.

Credit Suisse has also collaborated to meet the industry’s larger capital needs by providing a variety of advisory services through its investment bank, including the landmark IPO for Banco Compartamos in April 2007 and the Indian microfinance institution SKS in July 2010. Credit Suisse regularly sponsors various international and regional conferences and symposia in the area of financial inclusion, microfinance and impact investing.

Financial Inclusion Initiative

Established in 2008, the FII supports the availability of innovative and financially inclusive solutions to help advance progress towards the UN SDGs, by enabling:

equitable access to financial services for the un/underbanked
the design, evolution and scaling of innovative impact enterprises and financing solutions
entrepreneurship and innovation in and through access to financial services

To achieve this, we work with carefully selected partner organizations. Grants made through the Credit Suisse Foundation fund the implementation of projects with our global partner organizations, and are complemented by the skills and expertise of Credit Suisse employees. Through our partnerships we strive to build the capacity of these organizations and in doing so aim to not only serve the needs of low-income households and individuals, but to build new market opportunities and mechanisms for innovative microfinance and impact investing efforts. Our employees contribute to these efforts through our skills-based volunteering opportunities, including the Global Citizens Program and Skills xChange, through which they leverage their expertise to address the strategic business needs of our partners in the field. Additionally, through the Financial Inclusion Advocates network, employees channel their enthusiasm for financial inclusion to help raise awareness, educate and engage their colleagues on the topic. The FII is the link between Credit Suisse's clients, experts and employees and the base of the economic pyramid. Together with our partners, we are finding new ways of facilitating poor people's access to financial services and advice.

Key Figures for 2021

1008

local employees of microfinance institutions were trained

49474

people have access to new or improved products and services

138

microfinance institutions and fintech start-ups benefited from our support

Our Partners and Programs

Accion

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Accion is a global nonprofit organization dedicated to building a financially inclusive world with access to economic opportunity for all, by giving people the financial tools they need to improve their lives.

Program

With support from Credit Suisse's Financial Inclusion Initiative, the organization launched the Accion Center for Financial Inclusion, the industry-wide "Think and Do" Tank, in 2008, as well as the Accion Venture Lab, which invests capital in and provides support to fintech start-ups around the globe. Since its inception in 2012, our funding has enabled the support of over 30 companies using fintech to reach the underserved at scale.

Social Impact

Advance financial inclusion globally by expanding quality financial services

Business Impact

Since its founding, Accion has helped more than 170 institutions in 55 countries.

Geographical Focus

Global

SDG 8

Decent work and economic growth
Opportunity International

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Opportunity International designs, delivers and scales innovative financial solutions that help families living in extreme poverty build sustainable livelihoods and access quality education for their children.

Program

Through the Financial Inclusion Initiative, our current efforts seek to address the shortage of financial products designed to improve access to education. Specifically, our support is focused on strengthening and expanding the organization's Education Finance initiative by scaling the availability and use of school improvement and school fee loans in Africa, Latin America and Asia. Additionally, we have supported the pilot of new loan products for Technical and Vocational Education and Training (TVET) centers, students and graduates in Uganda.

Social Impact

Improved economic growth through greater access to high-quality education

Business Impact

Students and families are better equipped to afford educational costs and schools are more accessible

Geographical Focus

Africa, Asia, Latin America

SDG 4

Quality education
SDG Impact Finance Initiative

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The mission of the SDG Impact Finance Initiative is to advance measurable progress in developing countries towards the achievement of the UN Sustainable Development Goals (UN SDGs) by mobilizing new capital through innovative finance solutions and collaboration between public and private partners.

Program

The SDG Impact Finance Initiative was launched in December 2021 with support from the Credit Suisse Foundation (through the FII) together with the State Secretariat for Economic Affairs (SECO), UBS Optimus Foundation and the Swiss Agency for Development and Cooperation (SDC).

Social Impact

Increased funding towards the SDGs in developing countries.

Business Impact

The SDG Impact Finance Initiative promotes financial innovation and new forms of collaboration between public and private sector partners to mobilize more and better private financing for the SDGs in developing countries. In particular, the Initiative seeks to support the development of financing solutions that are not yet as mature or easy to capitalize or engage mainstream investors around, or where the investment manager may be smaller, first time or otherwise not yet ready for commercial investors.

Geographical Focus

Global

SDG 17

Partnerships for the goals
Women's World Banking

Women’s World Banking is dedicated towards economic empowerment through financial inclusion to the one billion women in the world without access to formal financial services. The organization works closely with 62 financial institutions from 50 countries to create new credit, savings and insurance products designed for the unique needs of women.

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^{CEO of Women's World Banking Mary Ellen Iskenderian: "There's nothing micro about 1 billion women"}

Program

Through the Financial Inclusion Initiative, Credit Suisse supports the organization's global network of financial service providers that champion women’s financial inclusion in their local markets and share best practices. Network members benefit from Women’s World Banking’s expertise in inclusive economies to help them acquire, activate, drive usage, and retain women customers

Social Impact

Expands access to quality financial services for low-income women

Business Impact

Connecting and equipping financial service providers with resources and support to better serve the women's market

Geographical Focus

Global

SDG 5

Gender equality

Industry Initiatives and Thought Leadership

Credit Suisse participates in key industry initiatives and networks to foster the exchange of knowledge, stimulate innovation and provide thought leadership.

Credit Suisse is part of key networks and industry initiatives

Global Impact Investing Network
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Global network dedicated to increasing the scale and effectiveness of impact investing

Addresses systematic barriers to effective impact investing by building critical infrastructure and developing activities, drives education and research.
European Microfinance Platform
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European network to promote co-operation amongst microfinance bodies working in developing countries, by facilitating communication and the exchange of information

Drives innovative and inclusive financial sector policy, development strategy, and development modeling, based on research and good practice.
Swiss Capacity Building Facility
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Swiss public-private development partnership to assist financial institutions in significantly scaling up their outreach to poor people in developing countries

Drives development and retention of skilled and dedicated management and staff and mobilizes funding from investors in order to maintain and grow their institutions.
Principles for Responsible Investment
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International network to put Principles for Responsible Investment into practice contributing to the development of a more sustainable global financial system

Addresses obstacles to a sustainable financial system that lie within market practices, structures and regulation.

Corporate Citizenship. Empowering People.

Together with our employees we work with selected partner organizations to help strengthen our society and to address social issues. Together, we strive to build a more inclusive future where all people can access the resources and develop the financial, entrepreneurial and other skills to thrive in the economy and society. As part of this commitment we set three focus themes: Financial Inclusion, Financial Education and Future Skills.