Principal Financial Group to launch financial inclusion study
Principal Financial Group will launch an inaugural study in September which will examine key drivers shaping financial inclusion across the globe, including in Australia.
The philanthropic entity, in partnership with the Centre for Economics and Business Research (CEBR), would utilise the study to uncover key drivers shaping financial inclusion and exclusion across governments, employers, and the financial services industry in over 40 markets.
The report would assess how these systems promote financial inclusion, as well as examine global consumer perspectives on how secure individuals feel within them.
Dan Houston, chief executive of Principal, said: “Financial inclusion is at the foundation of global economic progress.
“When people are excluded from the financial system it hinders their ability to earn, prepare for and recover from crises, as well as build for the future. Our Global Financial Inclusion Index will provide a clear, measurable view of financial inclusion so we can influence change and help more people and businesses have greater access to financial security.”
The index would use employer and consumer surveying alongside verified public data to create a financial inclusion scoring system. Through consideration of these key data points, the index would evaluate the degree to which governments promote financial inclusion, examine the availability and uptake of financial products and services for populations, and assess the level of support employers provide to their employees in each market.
The index would serve as a comprehensive resource used across sectors – from policymakers, academia, and non-governmental organizations (NGOs) to businesses and the financial services industry.
AUTHOR
Liam Cormican
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
