Making Financial Products and Services work for Migrants

Migrants and their families live complex financial lives. Unique financial needs emerge from fluctuating incomes that follow migration cycles and accessing Direct Benefit Transfers across multiple administrative units - dividing financial control between migrants and their households. Tailored financial products and services can optimally address these distinctive needs and improve the financial health of migrants and their families.

This session will foster an evidence-based discussion on financial products for migrants, focusing on strategies to overcome potential issues in product roll-out (e.g., limitations in the documents available to non-residents), the viability and sustainability of such products, covering both success and challenges, and considerations regarding the policy environment. The discussion will begin with a brief presentation on financial decision-making in-migrant households, based on a study conducted by LEAD at Krea University. The panel discussion will bring together financial service providers and representatives of grassroot organizations working with migrants to facilitate a discussion grounded in actionable solutions.