Section 1 Trends Section 3 The most significant role for AI Section 5 Priorities for the next five to ten years Section 2 Challenges Section 4 The changing funding landscape What do respondents as a whole think about sector trends, challenges, AI use, funding and priorities? 2.1. A sector adapting on several fronts at once Menu Menu Close Close 1. Introduction, context & respondents 1.1. Welcome to the Financial Inclusion Compass 2026 1.1. Welcome to the Financial Inclusion Compass 2026 2. Results 2.1. A sector adapting on several fronts at once: what respondents told us 2.1. A sector adapting on several fronts at once: what respondents told us Five themes Introducing five broad themes from the responses Introducing five broad themes from the responses Analysis & implication 4.1. Difficult choices ahead 4.1. Difficult choices ahead 1.2. A listening exercise, not a census 1.2. A listening exercise, not a census 1.3. A diverse field of voices 1.3. A diverse field of voices 2.2. Shared concerns, different exposure 2.2. Shared concerns, different exposure 2.3. Where you sit shapes what you see 2.3. Where you sit shapes what you see From access to resilience From Access to Resilience Adapting to the new normal Adapting to the new normal Promise without guardrails Promise without guardrails Who pays for inclusion? Who pays for inclusion? Navigating a fragmented and complex landscape Navigating a fragmented and complex landscape 4.2. What does it all mean? 4.2. What does it all mean? 4.3. Five questions that will shape the next phase of financial inclusion 4.3. Five questions that will shape the next phase of financial inclusion 4.4. About the Compass 4.4. About the Compass Trends Increased focus on climate adaptation & climate-smart finance 34.6%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Increased focus on climate adaptation & climate-smart finance 34.6%* Emerging technologies — especially artificial intelligence, machine learning & automation 31.8% Women’s economic empowerment and/or gender lens investing 28.2% Changing capital flows, particularly shrinking public/donor funding 27.9% Resilience of low-income clients, households and businesses 26.5% New digital products or services for low-income or excluded segments 20.9% Digital transformation of traditional financial service providers 20.5% Serving the ultra-poor or other hardest-to-reach groups 16.8% Increased focus/requirements on impact measurement and/or outcomes 11.8% New entrants disrupting traditional providers and platforms 11.5% Changes in regulatory frameworks, reporting requirements or new supervisory bodies 11.1% Growing priority and resources devoted to client protection among all stakeholder groups 10.8% Products and services targeted at SMEs 10.5% New or evolving financial products and models (such as thematic bonds, blended finance, etc.) 10.0% Serving young people 8.3% A changing external reputation of the microfinance/financial inclusion sector 7.8% Increased migration or forced displacement 7.8% Go back Go back Trends Increased focus on climate adaptation & climate-smart finance 34.6%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Increased focus on climate adaptation & climate-smart finance 34.6%* Emerging technologies - especially artificial intelligence, machine learning & automation 31.8% Women’s economic empowerment and/or gender lens investing 28.2% Changing capital flows, particularly shrinking public/donor funding 27.9% Resilience of low-income clients, households and businesses 26.5% New digital products or services for low-income or excluded segments 20.9% Digital transformation of traditional financial service providers 20.5% Serving the ultra-poor or other hardest-to-reach groups 16.8% Increased focus/requirements on impact measurement and/or outcomes 11.8% New entrants disrupting traditional providers and platforms 11.5% Changes in regulatory frameworks, reporting requirements or new supervisory bodies 11.1% Growing priority and resources devoted to client protection among all stakeholder groups 10.8% Products and services targeted at SMEs 10.5% New or evolving financial products and models (such as thematic bonds, blended finance, etc.) 10.0% Serving young people 8.3% A changing external reputation of the microfinance/financial inclusion sector 7.8% Increased migration or forced displacement 7.8% Go back Go back Challenges Go back Go back Responding to shrinking/more volatile donor and public funding 25.3% Addressing climate-related threats to client or household resilience 25.3% Coping with geopolitical uncertainty, including as relates to trade, energy, currency or FDI 24.6% Trying to sustainably reach last-mile populations 23.1% Addressing the persistent exclusion of women and other groups 17.4% Dealing with commercial pressure on socially-focused providers to ensure or increase profitability 15.9% Mitigating or preventing client overindebtedness 15.5% Protecting vulnerable clients from aggressive or exploitative providers 14.0% Measuring meaningful, actual impact and outcomes 11.5% Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* Respondents were asked to choose 3 top challenges from a list of 10. As above this was weighted and converted to an index score, again expressed as a percentage. Trends Increased focus on climate adaptation & climate-smart finance 34.6%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Increased focus on climate adaptation & climate-smart finance 34.6%* Emerging technologies - especially artificial intelligence, machine learning & automation 31.8% Women’s economic empowerment and/or gender lens investing 28.2% Changing capital flows, particularly shrinking public/donor funding 27.9% Resilience of low-income clients, households and businesses 26.5% New digital products or services for low-income or excluded segments 20.9% Digital transformation of traditional financial service providers 20.5% Serving the ultra-poor or other hardest-to-reach groups 16.8% Increased focus/requirements on impact measurement and/or outcomes 11.8% New entrants disrupting traditional providers and platforms 11.5% Changes in regulatory frameworks, reporting requirements or new supervisory bodies 11.1% Growing priority and resources devoted to client protection among all stakeholder groups 10.8% Products and services targeted at SMEs 10.5% New or evolving financial products and models (such as thematic bonds, blended finance, etc.) 10.0% Serving young people 8.3% A changing external reputation of the microfinance/financial inclusion sector 7.8% Increased migration or forced displacement 7.8% Go back Go back Challenges Go back Go back Responding to shrinking/more volatile donor and public funding 25.3% Addressing climate-related threats to client or household resilience 25.3% Coping with geopolitical uncertainty, including as relates to trade, energy, currency or FDI 24.6% Trying to sustainably reach last-mile populations 23.1% Addressing the persistent exclusion of women and other groups 17.4% Dealing with commercial pressure on socially-focused providers to ensure or increase profitability 15.9% Mitigating or preventing client overindebtedness 15.5% Protecting vulnerable clients from aggressive or exploitative providers 14.0% Measuring meaningful, actual impact and outcomes 11.5% Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Go back Go back Interacting with clients, including via voice or text-based chatbots 15.4% Increased back office efficiency 25.0% AI-led credit appraisal or approval processes 33.3% Fraud-detection and/or anti money laundering/know your client (AML/KYC) 13.5% Delivery of financial education 5.8% Other (please specify) 5.1% Training of staff 1.9% The most significant role for AI* The most significant role for AI* * Respondents were invited to choose the single most important use-case for AI in inclusive finance. These figures show the percentage of respondents who selected that option. Trends Increased focus on climate adaptation & climate-smart finance 34.6%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Increased focus on climate adaptation & climate-smart finance 34.6%* Emerging technologies - especially artificial intelligence, machine learning & automation 31.8% Women’s economic empowerment and/or gender lens investing 28.2% Changing capital flows, particularly shrinking public/donor funding 27.9% Resilience of low-income clients, households and businesses 26.5% New digital products or services for low-income or excluded segments 20.9% Digital transformation of traditional financial service providers 20.5% Serving the ultra-poor or other hardest-to-reach groups 16.8% Increased focus/requirements on impact measurement and/or outcomes 11.8% New entrants disrupting traditional providers and platforms 11.5% Changes in regulatory frameworks, reporting requirements or new supervisory bodies 11.1% Growing priority and resources devoted to client protection among all stakeholder groups 10.8% Products and services targeted at SMEs 10.5% New or evolving financial products and models (such as thematic bonds, blended finance, etc.) 10.0% Serving young people 8.3% A changing external reputation of the microfinance/financial inclusion sector 7.8% Increased migration or forced displacement 7.8% Go back Go back Challenges Go back Go back Responding to shrinking/more volatile donor and public funding 25.3% Addressing climate-related threats to client or household resilience 25.3% Coping with geopolitical uncertainty, including as relates to trade, energy, currency or FDI 24.6% Trying to sustainably reach last-mile populations 23.1% Addressing the persistent exclusion of women and other groups 17.4% Dealing with commercial pressure on socially-focused providers to ensure or increase profitability 15.9% Mitigating or preventing client overindebtedness 15.5% Protecting vulnerable clients from aggressive or exploitative providers 14.0% Measuring meaningful, actual impact and outcomes 11.5% Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Go back Go back Interacting with clients, including via voice or text-based chatbots 15.4% Increased back office efficiency 25.0% AI-led credit appraisal or approval processes 33.3% Fraud-detection and/or anti money laundering/know your client (AML/KYC) 13.5% Delivery of financial education 5.8% Other (please specify) 5.1% Training of staff 1.9% The most significant role for AI* The most significant role for AI* * Respondents were invited to choose the single most important use-case for AI in inclusive finance. These figures show the percentage of respondents who selected that option. 17.0% Social or impact investors 15.7% Philanthropy, foundations and high-net-worth individuals 15.7% No one: the gap will remain 11.1% DFIs 8.5% Commercial investors 22.2% Local or regional finance The changing funding landscape* The changing funding landscape* * Respondents were asked which actor may fill the funding gap faced by financial inclusion organisations. Go back Go back Trends Increased focus on climate adaptation & climate-smart finance 34.6%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Increased focus on climate adaptation & climate-smart finance 34.6%* Emerging technologies - especially artificial intelligence, machine learning & automation 31.8% Women’s economic empowerment and/or gender lens investing 28.2% Changing capital flows, particularly shrinking public/donor funding 27.9% Resilience of low-income clients, households and businesses 26.5% New digital products or services for low-income or excluded segments 20.9% Digital transformation of traditional financial service providers 20.5% Serving the ultra-poor or other hardest-to-reach groups 16.8% Increased focus/requirements on impact measurement and/or outcomes 11.8% New entrants disrupting traditional providers and platforms 11.5% Changes in regulatory frameworks, reporting requirements or new supervisory bodies 11.1% Growing priority and resources devoted to client protection among all stakeholder groups 10.8% Products and services targeted at SMEs 10.5% New or evolving financial products and models (such as thematic bonds, blended finance, etc.) 10.0% Serving young people 8.3% A changing external reputation of the microfinance/financial inclusion sector 7.8% Increased migration or forced displacement 7.8% Go back Go back Challenges Go back Go back Responding to shrinking/more volatile donor and public funding 25.3% Addressing climate-related threats to client or household resilience 25.3% Coping with geopolitical uncertainty, including as relates to trade, energy, currency or FDI 24.6% Trying to sustainably reach last-mile populations 23.1% Addressing the persistent exclusion of women and other groups 17.4% Dealing with commercial pressure on socially-focused providers to ensure or increase profitability 15.9% Mitigating or preventing client overindebtedness 15.5% Protecting vulnerable clients from aggressive or exploitative providers 14.0% Measuring meaningful, actual impact and outcomes 11.5% Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* Responding to AI, data misuse and new types of fraud, all of which are outpacing providers and regulators 26.1%* * Respondents were asked to choose and rank 5 top current trends from a list of 18. These were weighted and converted to a normalised index from 0-100. So a score of 26% means 26% of the potential maximum score had every single respondent chosen this trend in 1st place. Go back Go back Interacting with clients, including via voice or text-based chatbots 15.4% Increased back office efficiency 25.0% AI-led credit appraisal or approval processes 33.3% Fraud-detection and/or anti money laundering/know your client (AML/KYC) 13.5% Delivery of financial education 5.8% Other (please specify) 5.1% Training of staff 1.9% The most significant role for AI* The most significant role for AI* * Respondents were invited to choose the single most important use-case for AI in inclusive finance. These figures show the percentage of respondents who selected that option. 17.0% Social or impact investors 15.7% Philanthropy, foundations and high-net-worth individuals 15.7% No one: the gap will remain 11.1% DFIs 8.5% Commercial investors 22.2% Local or regional finance The changing funding landscape* The changing funding landscape* * Respondents were asked which actor may fill the funding gap faced by financial inclusion organisations. Go back Go back Go back Go back Priorities for the next five to ten years* Priorities for the next five to ten years* * Respondents were asked their what they thought the sector should be focusing most on in the next 5-10 years. Climate-smart finance/climate change adaptation 22.0% SME & enterprise finance 14.0% Women’s economic empowerment 13.0% Integrating and capitalising on AI opportunities 10.0% Ultra-poor inclusion / graduation 5.0% Other (please specify) 5.0% Serving young people 4.0% Serving forcibly displaced populations 3.0% Strengthening household resilience to shocks 24.0% Go back Go back Climate-smart finance/climate change adaptation 22.0% SME & enterprise finance 14.0% Women’s economic empowerment 13.0% Integrating and capitalising on AI opportunities 10.0% Ultra-poor inclusion / graduation 5.0% Other (please specify) 5.0% Serving young people 4.0% Serving forcibly displaced populations 3.0% Strengthening household resilience to shocks 24.0% Priorities for the next five to ten years* Priorities for the next five to ten years* * Respondents were asked their what they thought the sector should be focusing most on in the next 5-10 years.