Yves Moury

Fundación Capital - FundaK

Fundación Capital works to advance economic citizenship globally and at scale through the development and adaptation of tools and policies, and the construction of partnerships and capacity, so that people can save, grow, manage, and protect assets in ways that open the door to opportunity
Focus: Financial Inclusion, Technology
Geographic Area of Impact: Angola, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Mexico, Mozambique, Paraguay, Peru, Tanzania
Model: Hybrid Non-Profit
Number of Direct Beneficiaries: 5 million people (2016)
Annual Budget: $7.7 million (2016)
Percentage Earned Revenue: 35% (2016)
The Social Problem
More than 2 billion people at the bottom of the pyramid have little to no access to ways to save, grow, manage and protect their assets. Access to finance is a necessary step in breaking the cycle of poverty and achieving full economic citizenship but it isn't enough: individuals need to learn how to use financial services, how to build a business, and they need a minimum of assets to get started. Only by combining the right intervention at the right time with the right public or private partner can there be a viable and cost-effective pathway out of poverty.
Innovation and Activities
Fundación Capital helps people living in poverty and extreme poverty – especially women, youth, victims of armed conflict, and ethnic minorities – build their long-term assets and capabilities by co-creating innovative and scalable solutions alongside private and public partners. The most prominent programs include:
1. Proyecto Capital: Through Proyecto Capital, Fundación Capital works with national governments to connect conditional cash transfer recipients with initiatives that support financial inclusion and savings behavior. To date, this program (which is the longest-running initiative of the organization) has reached 5 million people. Building on these programmatic successes and its trusted relationships with governments, financial institutions, and regulators, Fundación Capital also directly advises national governments in the design and implementation of public policies that promote financial inclusion.
2. Digital Solutions: Fundación Capital uses an iterative and user-centered methodology to develop digital solutions that help to advance economic citizenship. One example is the LISTA Initiative, which incorporates a tablet-based, user friendly, and cost-effective app that aims to build the financial capabilities of low-income households. It uses cutting edge education techniques, games, and insights from behavioral economics to nudge behavior, and is implemented as part of an integrated approach in government welfare programs. The LISTA initiative has expanded into five countries, reached over 200,000 individuals, and been adopted as social policy in Colombia. A randomized control trial of the impact of LISTA in partnership with Innovations for Poverty Action indicated statistically significant, positive results on users’ financial capabilities and behavior.
3. Graduation: The Graduation strategy centers on an integrated approach to increase and improve the productive, financial, human and social assets of people living in extreme poverty. Fundación Capital works within governments’ existing social protection programs to integrate peer-to-peer learning, tools for training, such as tablet-based apps, and other effective, iterative and scalable approaches based in rigorous impact evaluations, to help improve the opportunities of vulnerable individuals and their families. To date, over 150,000 individuals in five countries have participated in Graduation-based programs developed by Fundación Capital with its partners.
Fundación Capital has developed a hybrid organizational structure to continue innovating new products and services, even as it rapidly scales its existing programs as an implementation partner to governments. A holding company, the KGroup, was created in 2013 and comprises two for-profit social enterprises: EdgeFinance and ResolutionK, which have a fee-for-service model with governments and private sector partners. The KGroup has no distributed earnings as 100% of the KGroup’s net earnings are reinvested in Fundación Capital to support the non-profit’s core activities that do not generate revenue. In 2016, the revenue earned through fee-for-service activities via government and private sector contracts by Fundación Capital and the KGroup was $2.7 million. Fundación Capital’s role, therefore, is to act as a laboratory for innovation by designing and testing inclusive social programs with government agencies and by underwriting pilot programs in new countries. Fundación Capital is active in 17 countries (working through signed agreements in 13 countries - Bolivia, Brazil, Chile, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Paraguay, Peru, and Tanzania - and building partnerships with Angola, Costa Rica, Haiti and Mozambique) and its work has reached over 5 million people.
The Entrepreneur
Yves Moury is the Founder, President and Chief Executive Officer of Fundación Capital and winner of the 2014 Skoll Award for Social Entrepreneurship. He spent many years working on the ground with low-income families throughout Africa and Latin America. In his work, Moury applies a wealth of expertise in finance, banking, development economics, anthropology and sociology. He is a trained economist and management engineer from the University of Louvain in Belgium.