Financial independence is the next big step after we go as far as we can with financial inclusion, according to SBS Peru Superintendent Daniel Schydlowsky in a recent video interview with the Alliance for Financial Inclusion (AFI).
To achieve financial independence, people need to find consistent employment. However, ensuring sustainable income generation can be difficult for the poor, especially for those without a formal education. Without some sort of educational certificate, it can be difficult to convince others to offer employment.
Psychometric testing appears poised to play a critical role in addressing that issue.
“If you have a psychometric test that says their reliable, then (there’s) an alternative to a high school certificate…You develop a testing system that actually provides an alternative way to determine people’s skills,” said Mr. Schydlowsky. “That’s going to be very powerful. If you put that together with financial inclusion, then you have a sustainability of income generation. And that’s what we need to have to go to the next step.
“It has got to be sustainable income. I think five years from now we’ll be working on that.”
Watch the entire interview with Mr. Schydlowsky (four minutes):
ABOUT THE AUTHOR
Chris Hughes is the Online Communication Manager at the Alliance for Financial Inclusion. Follow him on Twitter: @chrishughes11
Categories: General Financial Inclusion