The Gates Foundation is widely known for the grants it provides to researchers, developers and supply chain systems. But its financial solutions stretch far beyond multi-million dollar solutions to the very basics of access to individual banking.
Lack of access to financial infrastructure creates hardship that extends to other areas of life, like the ability to save for health care needs.
The Gates Foundation's Financial Services for the Poor program is capitalizing on advancements in mobile payments, digital financial services, and global partnerships to extend the reach of these low-cost banking programs to rural areas.
By connecting poor people to the financial sector, they help "[increase] poor people’s capacity to weather financial shocks and capture income-generating opportunities."