Introduction

This report highlights that financial exclusion and modern slavery create significant challenges for achieving SDG Target 8.71 to reduce and eradicate modern slavery globally. The report states that improving financial inclusion is an important aspect of reducing and preventing trafficking and slavery, and it supports the economic health of a country.

Key insights from Mexico pilot

The report identifies three key insights from the Mexico pilot. First, by building a diverse multistakeholder coalition across the public and private sectors, including government, international organisations, financial institutions, and non-governmental organisations (NGOs), Finance Against Slavery and Trafficking (FAST) leveraged its convening power and strategic support to initiate the development of a Public Private Partnership (PPP) aimed at addressing financial inclusion for survivor clients in Mexico. Second, the pilot demonstrated the importance of taking a collaborative, staged approach to pilot development. Third, the report highlights the importance of sharing lessons across jurisdictions.

Pilot intervention design: Increasing financial inclusion for survivors

FAST’s pilot intervention aimed to increase access to basic banking services for survivors in Mexico. By mapping services and need, Fast identified that not knowing what products or services survivors can access was the most significant barrier to financial inclusion. In response, FAST provided informational resources to shelters as a priority. The report highlights the critical role played by A21, FAST’s NGO partner in compiling a directory of surviving service organisations operating in Mexico.

Baseline survey: Mapping services and need

They conducted a baseline survey of shelters supporting survivors across Mexico. The report outlines that the most important challenges to access were not knowing what products/services were available, lack of identity documentation, a lack of income, and not having access to shelters. Furthermore, shelter representatives reported they required financial access training, financial resources for survivors to open accounts, and transportation to take survivors to physical banks.

Quantitative and qualitative evidence

The report uses a combination of quantitative and qualitative data, drawing on a survey of eleven shelters across Mexico and responses from key stakeholders in the PPP coalition to identify key insights, challenges, and solutions. Moreover, the report provides comparative analysis across different jurisdictions to highlight the significance of relevant regulatory and social challenges.

Recommendations and conclusions

The briefing recommends leveraging the PPP model to address the financial challenges for survivors of modern slavery in Mexico. Specifically, the report recommends increasing awareness of modern slavery, particularly in the financial sector. Additionally, it recommends supporting organisations providing services to survivors and offering targeted financial access training to improve knowledge within the financial sector. FAST recommends designing products and services for specific at-risk populations and ensuring those targeted can access appropriate products.