Simplifying a complex problem

Poverty is a constant headache for every administration. It seems that no matter what the government does—whoever is at the helm of Malacañang at a particular time—there will always be poor people and their number will always be overwhelming.

One typical characteristic of being poor is the lack or utter absence of access to basic banking services. They often have no savings account to speak of, nary any borrowing to finance any budding entrepreneurial venture, nor a microinsurance instrument to fall back on in times of emergencies.