G2012 Mexico and Ashoka Changemakers Launch Competition to Find Innovative Solutions for Unlocking Access to Financial Services

LOS CABOS, Mexico, June 18, 2012 /CNW/ - G2012 Mexico is partnering with Ashoka Changemakers to launch the G2012 Mexico Financial Inclusion: Innovative Solutions for Unlocking Access challenge, an online competition to find groundbreaking initiatives from around the world that make financial services accessible to underserved and excluded communities.

"Promoting greater financial inclusion is a key focus for the Mexican Presidency of the G20 this year," said Jose Antonio Meade, minister of finance and public credit of Mexico. "Equipping underserved and excluded households with the basic tools of economic empowerment—such as, affordable loans, secure savings and payments, and insurance—is key to economic development and raising standards of living. Financial inclusion is also critical to the strength and stability of the greater global financial system."

The competition seeks solutions that create access to valuable, affordable, secure, and comprehensive financial services. Today, 2.7 billion adults—more than half of the world's working-age population—do not have access to financial services that would allow them to save money securely, borrow money affordably, make payments knowledgeably, and insure themselves against potential hardships or risk.

All private sector individuals, organizations, or partnerships are eligible to enter from now until September 12, 2012 at changemakers.com/financialinclusion. Details about the guidelines and assessment criteria can be found on the website.

The best solution will win a 100,000 USD award sponsored by Banco Nacional de Mexico (Banamex) and BBVA Bancomer.

"Ashoka has a long history of expertise in sourcing and scaling-up social innovations that promote economic empowerment and financial inclusion," said Ashoka President Diana Wells. "We are thrilled to partner with G2012 Mexico and to leverage the experience and tireless passion of our network to support this critical challenge."

Secretary Jose Antonio Meade announced yesterday the launch of the G2012 Mexico Financial Inclusion: Innovative Solutions for Unlocking Access competition at the G20 Leader´s Summit in Los Cabos, Mexico.

About the G2012 Mexico
Under the Mexican G20 Presidency the financial inclusion agenda has focused on the promotion of having more inclusive financial systems and accompany those efforts with actions on financial education and financial consumer protection. In this sense, the most important challenges for moving from ideas to actions are: building a modern regulatory framework, innovation regarding new business models and technology, and strong coordination especially with the private sector.

About Ashoka Changemakers
Ashoka Changemakers is a community of action that connects social entrepreneurs around the globe to share ideas, inspire, and mentor each other. Through its online collaborative competitions and open-source process, Changemakers.com is one of the world's most robust spaces for launching, discussing, and funding ideas to solve the world's most pressing social problems. Changemakers builds on Ashoka's three decade history and belief that we all have the ability to be a Changemaker.

About Banco Nacional de Mexico (Banamex) and BBVA Bancomer
These are the two largest Banks in Mexico. They have more than 3,500 branches around the country; operate with almost 19,000 banking agents; and have more than 37 million accounts. Banamex and Bancomer are pioneers in searching for effective ways to reach the unbanked and financially excluded population in Mexico. Both have developed financial literacy programs that complement their financial inclusion actions, and have recently launched their mobile banking service, with the objective of reaching out to a broader population.

Natalie Zuniga
Media Manager
Ashoka Changemakers
Tel: (52155) 54354813

SOURCE Ashoka Changemakers

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