The ‘invisible’ millions: banking’s new frontier

In this episode of Short Briefings on Long Term Thinking, Leo Kellyan interviews Ed Whitten, Impact Director at Baillie Gifford's Positive Change strategy, about financial inclusion and its potential for transforming lives and fueling long-term growth for financial companies. Whitten discusses the importance of providing comprehensive banking services to underbanked communities, the risks associated with lending to vulnerable populations, and the need for responsible product design. He highlights specific companies in the Positive Change Fund's portfolio, such as Nubank in Latin America, Grab in Southeast Asia, Remitly, and HDFC Bank in India, explaining how they are addressing financial inclusion through digital innovation, tailored financial services, and a combination of digital and traditional banking approaches. The conversation also touches on the challenges and opportunities in advanced economies, focusing on financial health and resilience.