NCG Member Rockefeller Philanthropy Advisors (RPA) partnered with MetLife Foundation and Bankable Frontier Associates (BFA) to better serve low-income clients in need of banking services. OPTIX, Optimizing Performance Through Improved Cross-Sell, will provide a breadth of financial tools to microfinance institutions and cooperatives in Mexico, Columbia, Bangladesh, and Vietnam to help make banking services more accessible to low-income people currently unbanked or without bank accounts.
"Our partners have proven experience reaching low-income customers with a variety of savings and credit products. This unique partnership and learning model will allow these organizations to broaden their overall financial portfolios, which should help them become more sustainable. MetLife Foundation is excited to be a part of this initiative because of its ability to meet nearly one million clients’ holistic financial needs, and increase the sustainability of the institution serving them,” said Dennis White, president & chief executive officer of MetLife Foundation.
“The benefits of access to secure, affordable financial products continue to elude millions of low-income individuals around the world. However, improvements in technology and greater philanthropic partnerships across sectors open promising new pathways to alleviating poverty and to bringing critical financial to underserved populations,” said Chris Page, senior vice president of Rockefeller Philanthropy Advisors. “OPTIX provides a great opportunity to test out new technologies and innovative methods with strong, socially-minded microfinance institutions, and we look forward to working closely with our partners MetLife and BFA in the search for innovative solutions.”