Without data, we have nothing. OK, maybe not nothing, but all talk of increasing access to finance, the lack of access to finance, the importance of access to finance is really pretty meaningless without numbers. Luckily, hard data on financial access is finally being collected – and made available to the public.

Calls for better data have been mounting for years now. From the 2005 UN International Year of Microcredit’s Data Project, to a World Bank conference in March 2009, to the unveiling of the IMF Access to Finance Project in October, key players like Princess Maxima of the Netherlands and the Gates Foundation, have been pushing the data agenda forward. Our own Jonathan Morduch has been part of these discussions from the get go – which is just one reason we’re happy to see that the IMF has taken the next big step.

The new on-line financial access database includes results from the IMF’s first annual Financial Access Survey, like indicators of geographic and demographic outreach of financial services, as well as the underlying data. Measures include the reach of bank branch networks, availability of automated teller machines, and four key financial instruments: deposits, loans, debt securities, and insurance.

This data collection effort is off to an excellent start – and the database will only grow in usefulness over time. Hooray.