Principal Financial Group launching Global Financial Inclusion Index

Principal Financial Group, which has several offices in the Corridor, today announced it will launch the Global Financial Inclusion Index, in collaboration with the Centre for Economics and Business Research.

Referred to simply as “Index” in a release, its analysis will uncover key drivers shaping financial inclusion and exclusion across governments, employers, and the financial services industry in more than 40 markets.

The report, scheduled for September, will assess how these systems promote financial inclusion, as well as examine global consumer perspectives on how secure individuals feel. The goal of the Index is to fuel actionable insights that can help improve financial inclusion now and in the future, according to a release.

“Financial inclusion is at the foundation of global economic progress,” said Dan Houston, chairman, president, and CEO of Principal Financial Group, in a release. “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 will 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 will 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.

According to a release, the Index will serve as a resource used across sectors. It will also serve as an assessment for awareness, action-planning and resource allocation.

The Index will help Principal and key stakeholders:

  • Add dimension to the ongoing dialogue on financial inclusion as a core component of financial security.
  • Use data-driven insights to have a clear understanding of the barriers to financial security and produce alternate pathways that broaden access to financial solutions and support.
  • Advocate for financial systems that enable long-term financial security, stability, and advancement.
  • Determine impactful collaboration opportunities to help drive positive change.

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