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WSBI makes further progress towards UFA 2020 goal

WSBI makes further progress towards UFA 2020 goal

136 million new clients added, 236 million more accounts




>> See WSBI's commitment to UFA 2020

>> Learn more about UFA 2020 (off-site)




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​​​​​BRUSSELS, 22 March 2017 – WSBI member savings and retail banks continue to make progress towards their Universal Financial Access 2020 pledge​, newly updated data released by WSBI shows.

Latest available data compiled by the Brussels-based institute point to 136 million new clients as of 31 December 2016 from the UFA commitment starting point set at year-end 2014. WSBI members, who are present in some 80 countries worldwide, had 1.57 billion clients as of year-end 2016.

Relatedly, the number of new transaction accounts provided by WSBI through 2016, stood at 2.35 billion, up 236 million based on the end-of-2014 benchmark.

WSBI President Heinrich Haasis said: "The latest data show that WSBI and its members continue to push ahead to reach its UFA 2020 goal of 1.7 billion customers and 400 million new transaction accounts by the end of 2020."

​A closer look at the data

The 2016 year-end update indicated a slower pace of growth on the client and accounts fronts. WSBI had announced this time last year robust results for the 2015 time period, even exceeding projections on its UFA 2020 commitment both in terms of total numbers of customers as well as transaction accounts. WSBI then reported that clients reached by its members was 1.55 billion, while transaction accounts reached 2.33 billion for year-end 2015.

Haasis concluded: "After analysing the data, we observe that members who harness new technologies have made real inroads. They have been able to better attract new customers and more effectively offer affordable, quality products and services that meet the needs of underserved and unbanked while boosting financial access and usage. We look to share their innovation-led success with other members, all of whom seek to do the same."

The results are foreseen to be presented at the IMF-World Bank Spring meetings in Washington, D.C., being held in April. The report is foreseen to be available around that time on the World Bank public website. 

 

Notes to editor:


Marching towards UFA 2020 aim

WSBI and its members announced in 2015 its UFA commitment based on members who were part of WSBI when the 2014 benchmark was set. The numeric goal reinforces WSBI's continued engagement with its 'Account for Everyone' goal announced by the trade body in 2012, which it re-endorsed at the World Bank 2015 spring meetings. Based on recently updated data, members served as at year-end 2014 around 1.4 billion customers, which includes providing accounts for the poor worldwide.

​About the World Savings and Retail Banking Institute (WSBI)

WSBI represents the interests of 6,000 savings and retail banks globally, with total assets of $14tn and serving one billion customers in nearly 80 countries (as of 2014). WSBI focuses on international regulatory issues that affect the savings and retail banking industry. It supports the aims of the G20 in achieving sustainable, inclusive, and balanced growth, and job creation, whether in industrialised or less developed countries. WSBI favours an inclusive form of globalization that is just and fair, supporting international efforts to advance financial access and financial usage for everyone.

 

ends / all​

Financial education; Financial inclusion