Rethinking financial inclusion requires a policy of innovation to channel resources towards the production sector and the achievement of development goals. This can take the form of innovation in products, processes and institutions. Financial innovations should promote the inclusion of households and businesses, permit the development of appropriate instruments for risk management by various economic agents in a range of sectors, and provide financing for new development goals and priorities.

In addition to the private financial sector, national development banks can play a significant role in fostering innovation for financing, both directly and through coordination with other banks. National development banks have a history of providing credit, long-term funding and a variety of other services to small and medium enterprises, whose financial needs are underserved by private commercial banks or local capital markets.

National development banks can play an important role in promoting and expanding financial inclusion through three channels: innovation in financial instruments/products (introduction of products or services to satisfy market demand for certain financial services); innovation in financial processes (introduction of new capacities, competencies and routines to improve efficiency usually related to technological improvements), and strengthening its interconnectivity with the rest of the financial system including commercial banks.