This award is open to AFI member institutions that are implementing unique policy innovations that create an enabling environment for the introduction of technological and or business innovations towards addressing challenges of financial inclusion. 

The winner will win support for implementing an ‘Innovation Project’ worth USD 50,000. 

For the Nestor Espenilla Jr. Financial Inclusion Innovation Award, the entrant must be a current paid member of AFI having paid the membership fee for the year 2021.

The following criteria will be used to assess submitted nominations:  

1. Demonstrated commitment to foster new technologies and innovations that drive financial inclusion

2. Implemented unique or new policy solutions to foster financial technologies and new innovations

3. Demonstrated existence of market solutions responding to the above policy(ies)

4. Demonstrated evidence of uptake in access, usage and/or increased quality of financial services as a result of these market solutions

5. Displayed leadership among peers and enabled knowledge exchange at the global and/or regional level on the theme of new technologies and innovation. 

AFI will provide support to the winner to implement an ‘Innovation Project’ based on the member’s priorities and needs. The applicants should include a short overview of the proposed project in their submissions. Guidelines for the Innovation Project are as follows: 

• • State the objective and main outcome of the proposed project. This should be clearly linked to advancing innovation and use of technology for financial inclusion. 

  • The nature of the activities proposed should be relevant to the project outcome. Some examples of potential activities include peer-learning program with AFI members or advanced economies, capacity building activities for members’ staff, testing of a regtech/suptech solution.    

  • The nature and scope of the activities should be implementable within a period of 12 months. 

  • The project may be part of an existing initiative or new initiative in the member institution. In case it is part of an existing initiative, please explain how this project adds value to the on-going initiative and what would be the main deliverable of this project. 

The AFI technical team will engage with the finalists to enhance and refine their project ideas.

Eligible AFI member institutions must nominate themselves by completing the nomination form, outlining their institution’s achievements as per the criteria listed above as well as submitting a brief overview of the proposed Innovation Project.  

Deadline for submitting the nomination form is 23:59 Malaysia time (UTC +8 hours), Friday, 10 June 2022. 

The Nestor Espenilla Jr. Financial Inclusion Innovation Award is supported by AFI’s funding partner, Flourish Ventures. 

This award is open to any financial policymaking or regulatory institution across the globe that are implementing high impact policy solutions including regulations that address structural barriers preventing the financial inclusion of youth. It is thus open to AFI members and non-members.

The following criteria will be used to assess submitted nominations: 

1. Demonstrated commitment in removing structural barriers faced by youth in accessing formal financial services.

2. Implemented policy solutions addressing specific structural barriers faced by youth.

3. Demonstrated the existence of financial inclusion initiatives for youth and/or existence of financial services targeting the youth population.

4. Demonstrated evidence of uptake in access, usage and/or increased quality of financial services that targeted specifically for the youth population.

5. Displayed leadership among peers and enabled knowledge exchange at the global and/or regional level on the theme of youth financial inclusion.

Eligible institutions must nominate themselves by completing the nomination form outlining their institution’s achievements, as per the criteria listed above. 

Deadline for submitting the nomination form is 23:59 Malaysia time (UTC +8 hours), Friday, 10 June 2022. 

* The Global Inclusion Awards were originally initiated in 2012 by Child & Youth Finance International (CYFI) and transferred to AFI in 2019