Financial Stability Implications from FinTech

30 Aug 2017

Technology-enabled innovation in financial services (FinTech) is developing rapidly. With its emergence, there will be both opportunities and risks to financial stability that policymakers, regulators, supervisors and overseers should consider. This is particularly important as many innovations have not yet been tested through a full financial cycle, and decisions taken in this early stage may set important precedents. Policymakers should continue to assess the adequacy of their regulatory frameworks as […]

Digital Financial Inclusion: Emerging Policy Approaches

01 Jul 2017

This report examines how countries are implementing measures in line with the G20 High-Level Principles for Digital Financial Inclusion (HLPs) published in 2016—aiming at catalyzing government actions to drive financial inclusion through a focus on digital technologies.  Digital financial services, together with effective oversight and supervision, can expand the scale, scope and reach of financial services, and are essential to closing the remaining gaps in financial inclusion. Digital technologies also offer affordable and convenient […]

Digital Financial Services and Risk Management Handbook

28 Sep 2016

The last decade has seen a wave of innovative financial services aimed at serving the unbanked populations in emerging markets. Low-income individuals, microentrepreneurs and rural populations that were previously left out of the market due to the high costs of physical expansion are now accessing financial services through mobile phones and networks of agents acting as representatives of financial service providers. This has resulted in a remarkably rapid increase in […]

Responsible Digital Payments Guidelines

21 Jul 2016

The Better Than Cash Alliance ‘Responsible Digital Payments Guidelines’ identify eight good practices for engaging with clients who are sending or receiving digital payments and who have previously been financially excluded or underserved. The focus of the Guidelines is on the common types of digital payments services provided to the financially underserved such as electronic money transaction accounts. For clients to adopt and use digital payments, they need to feel […]

A Market Systems Approach to Financial Inclusion Guidelines for Funders

11 May 2016

Impressive gains have been made toward increasing access to finance for poor and low income people since Good Practice Guidelines for Funders of Microfinance was published in 2006. During this time we have seen major progress in terms of achieving sustainability and scale with the introduction of new product offerings, development of innovative business models, technology-enabled delivery channels, and the engagement of a much broader range of private and public […]

Mobile Money Services – Design and Development for Financial Inclusion

27 Apr 2016

Mobile money services are being deployed rapidly across emerging markets as a key tool to further the goal of financial inclusion. Financial inclusion, the development of novel methods to enable individuals at the base of the pyramid to access formal financial services and become part of the formal financial system, is considered a key pre-requisite for lifting these populations out of poverty and for driving economic growth. There have been […]

Assessing Price Fairness in Microfinance A framing note to inform the Evolution of the Client Protection Standards

13 Apr 2016

In the context of the Evolution of Standards of the Smart Campaign and its Responsible Pricing work stream, the Smart Campaign commissioned special research on alternative analysis methods for credit product pricing. This paper aims to provide an alternative to the market based comparative approach used for evaluating pricing for credit products under standards 1.0. The Smart Campaign certification process currently (version 1.0) applies a market test to determine responsible […]

Protecting the poor: A microinsurance compendium

09 Apr 2015

“Protecting the Poor: A microinsurance compendium, volume II”, is a unique collection of recent practices and emerging ideas in microinsurance. It covers the numerous innovations that have emerged in recent years to meet the challenges of providing insurance to low-income people, from new products and delivery channels to consumer education tools, while examining institutional changes in regulations, providers and schemes. As the microinsurance community dramatically evolves and millions more low-income households […]

Digital Financial Inclusion: Implications for Customers, Regulators, Supervisors, and Standard-Setting Bodies

11 Mar 2015

With the prospect of reaching billions of new customers, banks and nonbanks have begun to offer digital financial services for financially excluded and underserved populations, building on the approaches that have been used for years to improve access channels for those already served by banks and other financial institutions. Innovative digital financial services involving the use of mobile phones have been launched in more than 80 countries (GSMA 2014).1 As […]

Credit Reporting Knowledge Guide

26 Aug 2014

In 2001, the International Finance Corporation (IFC) launched the Global Credit Bureau Program, later renamed the Global Credit Reporting Program, to better reflect the nature of its operations. The objective of this second edition of the Credit Reporting Knowledge Guide is to disseminate best practices in credit reporting development, and to contribute to credit information sharing in emerging markets. Since the program was launched, it has helped develop favorable credit […]