SIGNATORY SERIES | FINANCIAL EDUCATION FOR RESPONSIBLE DIGITAL INCLUSION

Shea Flynn, Camille Parker, and Allison Ryder
07 Feb 2020

Financial inclusion has garnered broad support across the public and private sectors, with a range of actors developing innovative technologies and programs to help consumers in emerging markets gain access to financial products and services. However, with insufficient financial education, literacy and capability, vulnerable populations are likely to encounter over-indebtedness, fraud, or simply choose the wrong products for their financial needs.  Financial education has the power to build trust and […]

DIGITAL CREDIT AUDIT REPORT: EVALUATING THE CONDUCT AND PRACTICE OF DIGITAL LENDING IN KENYA

03 Feb 2020

Digital credit has been instrumental in granting formal credit in ways that were not conceivable a decade ago. It has provided individuals with the tools to manage their day-to-day needs and working capital for small enterprises. Survey data reveals that over six million Kenyans have borrowed at least one digital loan. Beyond these daily use-cases, digital credit is increasingly used to finance non- routine needs such as school fees and […]

EXPLORING THE LINKS BETWEEN FINANCE, TECHNOLOGY AND GROWTH IN KENYA

23 Jan 2020

Starting with microcredit in the late 1980s, there has been a growing movement of multilateral institutions, private foundations, non-profits, corporations and governments that aims to provide formal financial services to low-income market segments around the world. This movement is largely motivated by the conviction that access to financial services reduces poverty. Over time, the focus of this movement has shifted from microcredit towards encouraging access to a wider, more comprehensive […]

THE 2019 FINACCESS HOUSEHOLD SURVEY

09 Apr 2019

The 2019 FinAccess household survey is the fifth in a series of surveys that measure drivers and usage of financial services in Kenya. The 2019 report was officially launched on April 3rd 2019. The four previous surveys of 2006, 2009, 2013 and 2016 have shown that Kenya has made significant progress in fostering financial inclusion, with the latest survey providing a thirteen year perspective on Kenya’s financial landscape. Formal financial inclusion has risen to 82.9 percent, up from 26.7 […]

PARTNERING WITH PROVIDERS TO SET DFS STANDARDS FOR CLIENT PROTECTION

Alex Taylor, Wayne Hennessy-Barrett
17 Jan 2019

By Alex Taylor, Wayne Hennessy-Barrett This post, the first of two on pilot assessments for digital credit standards, features a Q & A with 4G Capital CEO Wayne Hennessy-Barrett. Digital lending has the potential to close the credit demand gap for unbanked, low-income customers, but the rapid growth of the sector has raised consumer protection concerns. In Kenya alone, a leading testing ground for the digital credit sector, there are […]

DIGITAL CREDIT IN KENYA

23 Aug 2018

Digital Credit is growing rapidly and is democratizing credit with instant, automated, and remote processes, meeting short-term liquidity needs of low- and middle-income populations. Digital credit, at the onset, has demonstrated financial outreach – offered even to credit invisible customers, who do not have an account ownership or a credit history. This presentation focuses on the digital credit landscape in Kenya.

Digital Financial Services: Challenges and Opportunities for Emerging Market Banks

25 Sep 2017

The digital transformation that has upended industries from retail and media to transport and business-to-business commerce is now sweeping the financial services industry, through the wide dissemination of digital financial services. This was inevitable, as ubiquitous computing power, pervasive connectivity, mass data storage, and advanced analytical tools can easily and efficiently be applied to financial services. After all, money was already extensively (though not exclusively) created, used, stored, processed, and […]

Fraud in Mobile Financial Services: Protecting Consumers, Providers, and the System

09 Sep 2017

This Brief highlights how fraud is impacting mobile money providers, agents, and consumers, as well as efforts to reduce risks and vulnerabilities to fraud in mobile money and related services. While it is not possible to remove fraud entirely from any service—mobile money included—the examples addressed here show that fraud is a major issue in several key markets for consumers and agents, and that there are simple steps providers can […]

Building a Secure and Inclusive Global Financial Ecosystem

08 Sep 2017

The 2017 Brookings Financial and Digital Inclusion Project (FDIP) report evaluates access to and usage of affordable financial services by underserved people across 26 geographically, politically, and economically diverse countries. The report assesses these countries’ financial inclusion ecosystems based on four dimensions of financial inclusion: country commitment, mobile capacity, regulatory environment, and adoption of selected traditional and digital financial services.  The report further examines key developments in the global financial inclusion landscape, highlights selected financial […]

Improving Client Value from Microinsurance: Insights from Kenya, India and The Philippines

18 Jun 2015

The primary goal of the International Labour Organization (ILO) is to contribute with member States to achieve full and productive employment and decent work for all. The Decent Work Agenda comprises four interrelated areas: respect for fundamental worker’s rights and international labour standards, employment promotion, social protection and social dialogue. Broadening the employment and social protection opportunities of poor people through financial markets is an urgent undertaking. Housed at the […]