The Center for Financial Inclusion at Accion, Citi, and Visa Inc. Launch Financial Inclusion 2020 to Accelerate Universal

   The Center for Financial Inclusion at Accion, Citi, and Visa Inc. Launch
      Financial Inclusion 2020 to Accelerate Universal Financial Access

Initiative will develop and advance a roadmap for full financial inclusion
through unprecedented global collaboration of leading companies, NGOs,
policymakers, and regulators

PR Newswire

WASHINGTON, Jan. 28, 2013

WASHINGTON, Jan. 28, 2013 /PRNewswire/ --The Center for Financial Inclusion
at Accion, together with Citi (NYSE: C) and Visa Inc. (NYSE: V), today
announced the launch of the Financial Inclusion 2020 campaign (FI2020). FI2020
is focused on the acceleration of financial inclusion by uniting the private
sector, governments, NGOs, and other relevant parties to develop and advance a
comprehensive strategy to achieve this aim.

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"Over two billion people worldwide lack access to basic financial services,
missing out on opportunities to contribute to their countries' growth," said
Elisabeth Rhyne, Managing Director of the Center for Financial Inclusion. "The
goal of financial inclusion is to provide access to a range of quality
financial services at affordable prices, delivered with convenience and
dignity, while ensuring the right tools and protections are in place. This can
change the course of an individual's, family's, or community's future and
build stronger and more resilient economies."

Using the year 2020 as a focal point to galvanize action, FI2020 aims to
realize full financial inclusion by widening responsible access to credit,
payment tools, savings and insurance.

"Expanding financial inclusion is both a development imperative for
underserved communities and a forward-thinking approach to unlocking the
economic potential of new markets," said Pamela Flaherty, President & CEO of
the Citi Foundation and Director of Corporate Citizenship at Citi. "Citi is
pleased to take a leadership role in joining the Center for Financial
Inclusion at Accion and Visa to convene longtime partners and invite new
stakeholders to work together to create universal access to quality financial
services and drive sustained economic growth."

In early 2011, the Center for Financial Inclusion conducted a survey of more
than 300 industry experts around the globe and across a range of stakeholders,
resulting in the publication of Opportunities and Obstacles to Financial
Inclusion. Building on those expert recommendations, FI2020 is now working
with more than fifty partners to develop a Roadmap to Financial Inclusion. As
part of this process, five multi-stakeholder working groups are already
developing the campaign's framework around the following themes:

  oClients and Products, chaired by Consultative Group to Assist the Poor
    (CGAP), focuses on deepening our understanding of client needs and
    translating that knowledge into practice while expanding the range of
    financial services available to underserved markets.
  oTechnology, chaired by Visa, analyzes the potential of new
    technology-intensive channels to reach new customers, lower operating
    costs, increase security, and diversify financial products available to
    low-income clients.
  oFinancial Capability, chaired by Citi, focuses on empowering clients to
    know their rights as consumers, and to have the skills, attitudes,
    aspirations, and confidence to exercise those rights.
  oClient Protection, chaired by the Smart Campaign, outlines steps to deepen
    the implementation of client protection measures for the benefit of
    clients and stability of markets.
  oCredit Reporting, chaired by International Finance Corporation (IFC),
    promotes extending credit reporting systems in order to expand access for
    new clients while managing risk for financial institutions.

"We know full financial inclusion is achievable if the private sector,
governments and civil society work together," said Bill Gajda, Head of Global
Mobile Product, Visa. "Innovations such as mobile money will allow us to reach
everyone, everywhere with financial services. Achieving full financial
inclusion will not only improve the lives of billions of people, it will drive
economic growth, accelerate women's empowerment and remove a major obstacle in
the fight against global poverty. The time is right for this initiative, and
Visa is proud to join with Citi and the Center for Financial Inclusion in
support of FI2020."

A Roadmap to Financial Inclusion will be presented at the Financial Inclusion
2020 Global Forum to be held on October 28-30, 2013 in London. The Global
Forum will be one of many ways in which FI2020 will engage a diverse group of
actors who can advance the agenda, inspire investment in invisible markets,
place client perspectives at the center of the discussion, and work in
partnership across sectors, through coordinated and collaborative actions that
will impact the lives of financially excluded individuals worldwide.

"Our vision is to build a financially inclusive world where everyone has
access to financial tools that can improve their lives," said Michael Schlein,
President and CEO of Accion. "To do so, we need to expand the conversation to
include a wider range of partners. If we can get a broader group of
stakeholders to see themselves as part of the movement to build economic
opportunity for all, this will be the moment when financial inclusion begins
to be a reality."

About the Center for Financial Inclusion at Accion
The Center for Financial Inclusion at Accion (CFI) was launched in 2008 to
help bring about the conditions to achieve full financial inclusion around the
world. Constructing a financial inclusion sector that reaches everyone with
quality services will require the combined efforts of many actors. CFI
contributes to full inclusion by collaborating with sector participants to
tackle challenges beyond the scope of any one actor, using a toolkit that
moves from thought leadership to action.

FI2020 aims to build a movement that mobilizes stakeholders around the globe
to achieve full inclusion using the year 2020 as a focal point to galvanize
action. The campaign engages diverse players who can expand financial
inclusion through two initiatives: the research project Mapping the Invisible
Market anda Roadmap to Financial Inclusion which will be carried out through
a consultative process leading to a global forum in 2013, with the ultimate
goal to advance the agenda through coordinated, effective, collaborative
actions to be undertaken by global partners, both public and private.

About Citi
Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citigroup
provides consumers, corporations, governments and institutions with a broad
range of financial products and services, including consumer banking and
credit, corporate and investment banking, securities brokerage, transaction
services, and wealth management.

Additional information may be found at | Twitter: @Citi |
YouTube: | Blog: | Facebook: | LinkedIn:

About Visa
Visa is a global payments technology company that connects consumers,
businesses, financial institutions and governments in more than 200 countries
and territories to fast, secure and reliable electronic payments. We operate
one of the world's most advanced processing networks—VisaNet—that is capable
of handling more than 24,000 transaction messages a second, with fraud
protection for consumers and assured payment for merchants. Visa is not a bank
and does not issue cards, extend credit or set rates and fees for consumers.
Visa's innovations, however, enable its financial institution customers to
offer consumers more choices: pay now with debit, ahead of time with prepaid
or later with credit products. For more information, visit

SOURCE Center for Financial Inclusion at Accion

Contact: Andrea Snyder, Accion, +1-617-625-7080 Ext. 1010,;
David Roskin, Citi, +1-212-559-4767,; Robert Meloche,
Visa Inc., +1-650-432-4560,
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