Financial inclusion. Innovative financial solutions for all.

Credit Suisse is a leader in the field of financial inclusion and microfinance. Our Financial Inclusion Initiative focuses on strengthening microfinance institutions' and other financial services providers' ability to serve the financially excluded through the development of innovative financial products and services.

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 excluded parties, such as microenterprises and individuals, in emerging and developed economies. Financial services such as these are key in accessing many other essential needs and services in the formal economy, including health care, education and nutritional food. Access to financial services is therefore an effective way of empowering people and makes an important contribution to fighting poverty and achieving the United Nation’s Sustainable Development Goals (SDGs). Financial Inclusion can be reached through microfinance organizations as well as fintechs, mobile operators and other actors.

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, microfinance organizations, fintechs, mobile operators and other actors are all actively working towards the realization of financial inclusion for those at the base of the income pyramid (BOP).

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 MFIs access to the capital markets through the investment bank, and facilitates market development and innovation through the philanthropically-funded Financial Inclusion Initiative (FII; formerly the Microfinance Capacity Building Initiative).
Because of the large and constantly growing demand for small loans and other financial services, MFIs need access to refinancing, through so-called Microfinance Investment Vehicles, for example. Demand for microfinance investments is rising steadily as they yield both financial and social returns. Credit Suisse was one of the first financial institutions in Switzerland to recognize the potential of microloans, and has been a leader 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.
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 microfinance institutions 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

The Financial Inclusion Initiative is Credit Suisse's grant and technical assistance initiative for microfinance institutions, fintechs and other financial services providers at the base of the pyramid. Established in 2008, the FII aims to strengthen the financial inclusion sector by providing financial and human resources to train the management of MFIs, and to drive further market development to serve the increasingly diverse financial needs of clients living at the BOP.

This is done by:

Enabling product and services development and innovation across sectors
Developing strong industry partnerships and knowledge sharing
Effectively leveraging Credit Suisse’s skills, expertise, financial and social capital
Continuous measurement and optimization of impact

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 at the BOP. Our employees contribute to these efforts through our skills-based volunteering opportunities, including the Global Citizens Program, through which they leverage their skills and knowledge to address the strategic business needs of our partners in the field, as well as our Virtual Volunteering projects. 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 2019

1140

local employees of microfinance institutions trained

372

thousand people with access to new or improved products and services

134

microfinance institutions and fintech start-ups benefited from our support

Our Partners and Programs

Credit Suisse works with five carefully selected partner organizations.

Accion

Visit official website

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

Over time, Accion has helped develop 65 microfinance institutions in 32 countries across four continents

Geographical Focus

Global
Consultative Group to Assist the Poor (CGAP)

Visit official website

The Consultative Group to Assist the Poor (CGAP) works to build inclusive and responsible financial systems that help people move out of poverty, protect their economic gains and advance the broader global development agenda. CGAP is a global partnership of more than 30 leading development agencies, private foundations and national governments.

Program

Credit Suisse's membership helps CGAP coordinate and streamline PayGo Solar operators and financing companies to allow for most efficient access to global capital markets

Social Impact

Increased access to affordable energy solutions

Business Impact

Improved viability, stability and scalability of PayGo Solar operators

Geographical Focus

Global
Opportunity International

Visit official website

Opportunity International invests philanthropic and social impact capital in order to spark and scale innovative solutions to global poverty.

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.

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
Swisscontact

Visit official website

Swisscontact is a business-oriented independent foundation for international development cooperation. Represented in 36 countries with more than 1,400 employees, it has promoted economic, social and environmental development since 1959.

Program

Through the Credit Suisse-Swisscontact Program, which is funded by the Financial Inclusion Initiative, we seek to identify best practice approaches to the promotion of entrepreneurship and ecosystem building in Cambodia, Guatemala, Peru, Rwanda, Uganda and Vietnam.

Social Impact

Improved economic growth and additional jobs through targeted entrepreneurship support

Business Impact

Strengthened entrepreneurial ecosystems with increased number of viable growth companies past start-up phase

Geographical Focus

Cambodia, Guatemala, Peru, Rwanda, Uganda, Vietnam
Women's World Banking

Women's World Banking designs and invests in the market-driven financial solutions, institutions, and policy environments in emerging markets to create greater economic stability and prosperity for women, their families and their communities. The organization works closely with 50 financial institutions from 30 countries to create new credit, savings and insurance products designed for the unique needs of women.

^{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 Leadership and Diversity for Innovation Program, which equips high-potential women leaders of microfinance and other financially inclusive institutions with the training and tools to better serve low-income women.

Social Impact

Expands access to quality financial services for low-income women

Business Impact

Equipping leaders of microfinance institutions with the training and tools to better serve the women's market

Geographical Focus

Global

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
Visit official website

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
Visit official website

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
Visit official website

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.
The Smart Campaign
Visit official website

The Smart Campaign is a global campaign committed to embedding client protection practices into the institutional culture and operations of the microfinance industry

Goal is to provide microfinance institutions with the tools and resources they need to deliver transparent, respectful, and prudent financial services to all clients.
Principles for Responsible Investment
Visit official website

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.

Sharing Expertise

A key objective of the FII is to leverage the skills and enthusiasm of employees in order to build partner capacity, raise awareness and advance financial inclusion, microfinance and impact investing at the bank.

Global Citizens Program
Engagement

The Global Citizens Program (GCP) is Credit Suisse's flagship international skills-based volunteering program. Designed to promote the transfer of skills and expertise between employees and social organizations, the GCP builds the capacity of our partner organizations. Employees complete assignments lasting between one and twelve weeks (in-country) helping to address strategic business needs.

Examples

Development of new savings products for microfinance clients in Ghana

Development of financial forecasting and budgeting tools for an education NGO in Colombia
Virtual Volunteering
Engagement

Virtual Volunteering provides an opportunity for employees to use their expertise and enthusiasm to support our partner organizations without having to take extended leave from personal or professional commitments. Employees contribute to cutting-edge research and thought leadership projects.

Examples

Frameworks for Social Investing: Cross-Country Comparisons

Smart Campaign (Client Protection) Endorser Feedback

What Makes Certification Work? Case Studies and Key Lessons for the Smart Campaign (Client Protection)
Financial Inclusion Advocates Network
Engagement

A global network of over 1.300 employees interested in financial inclusion. Networks in each region plan events and awareness-raising activities to educate and engage colleagues on the topic.

Examples

Regional events and awareness raising activities

In June 2020, the US and Switzerland-based Financial Inclusion Advocates Networks co-hosted a virtual discussion, "Financial Inclusion Amidst the Global Pandemic", featuring panelists from several of our partner organizations.

On April 25, 2019 the Financial Inclusion Advocates Network in the Americas hosted a presentation on "Digital Innvoation in Financial Inclusion within Emerging Markets" in New York.

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.