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What are we doing about the 3 billion underbanked?

Video Summary

Almost three billion people are underserved by the formal financial sector. But emerging technologies are making it easier than ever to change that and to build a financially inclusive world. Mobile phones, the internet, alternative data credit analysis, factoring, payments, and other innovations are combining together to provide high-quality, low-cost financial services to those who need them most. We take an expert look at the underbanked on a truly global scale and ask: what will it really take to provide affordable and accessible financial services to all?


Michael Schlein brings more than 25 years of extensive international banking, management and public service experience to his role as President and CEO of Accion.

Prior to his senior posts at Citi, Mr. Schlein was appointed Chief of Staff at the U.S. Securities and Exchange Commission. He earlier served as Chief of Staff to the NYC Deputy Mayor for Finance and Economic Development. He began his career in public finance at Smith Barney.

Mr. Schlein has been involved with microfinance for many years, serving on the Board and Executive Committee of Accion before becoming CEO and President, and playing a leadership role at the Citi Foundation, which has a long history of funding microfinance initiatives. He is also a member of the Council on Foreign Relations.

Mr. Schlein holds a bachelor's degree in economics and a master’s degree in political science from the Massachusetts Institute of Technology, from which he graduated Phi Beta Kappa in 1984. He resides with his family in Brooklyn, New York.

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