Responsible Finance Forum

Insights

Featured Publications

Digital Financial Services and Risk Management Handbook

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 […]

G20 High-Level Principles for Digital Financial Inclusion

The G20 and Global Partnership for Financial Inclusion stand at an unprecedented time when our leadership has the potential to drive the growth of inclusive economies by promoting digital financial inclusion. Two billion adults globally do not have access to formal financial services and are excluded from opportunities to improve their lives. While tremendous gains in financial inclusion have already been achieved, digital financial services, together with effective supervision (which […]

Alternative Delivery Channels and Technology

The ambition to reach full global financial inclusion requires that we address the challenge of delivering appropriate and affordable financial services to an estimated 2.5 billion unbanked individuals globally. One response to this challenge has involved the design of products such as microloans, low balance savings accounts, micro-insurance, and mobile money transfer that are specifically tailored to meet the needs of the often excluded low-income mass market. Delivering these products […]

Responsible Finance Forum V: Responsible Digital Finance Outcomes Report

Digital finance is now widely recognized as one of the most powerful tools to reach financial inclusion targets at low cost, to create opportunities for people in remote communities, to provide them with the financial tools and services to grow their businesses, and to enable them to channel more household resources into education, health, and other key household expenses and investments. As the market for digital finance expands, it is […]

Small Beginnings for Great Opportunities

Lessons Learned from 20 Years of Microfinance Projects in IFC IFC is the World Bank Group’s main investor in microfinance, working with around 300 microfinance institutions (MFIs) and SME-focused financial institutions, which provide financial services in 91 countries. IFC is also one of the leading global investors in terms of volume. In fiscal year 2014, we committed $519 million in 43 projects with MFIs. Our cumulative investment portfolio in microfinance […]

Latest Resources

How Financial Institutions and Fintechs Are Partnering for Inclusion

This report—produced as a partnership with the Institute of International Finance (IIF) and the Center for Financial Inclusion at Accion (CFI)—examines how partnerships between mainstream financial institutions (e.g., banks, insurers, and payment companies) and fintechs are addressing financial inclusion challenges and expanding access to the formal financial economy for underserved segments of the global population, particularly in emerging markets. It incorporates insights from 24 in-depth interviews with people at the […]

Remittances as a Driver for Women’s Financial Inclusion

With the rapid development of the financial markets of Cambodia, Lao PDR, Myanmar and Vietnam, there has been significant growth in inflows of international remittances, which totalled US$17 billion in 2015 to these four countries, well outpacing the US$6.8 billion inflow of Official Development Assistance (ODA) (World Bank 2014). At the macro-economic level, these international remittance flows provide much-needed foreign currency exchange, stabilize the balance of payments, supplement ODA and […]

Responsible Digital Payments Guidelines

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—especially women—to adopt and use digital payments, they need to feel […]

Offshore Financial Centers for Financial Inclusion

The words “offshore” and “tax-haven” are often taboo rhetoric within the investment space. In this paper, the Financial Inclusion Equity Council (FIEC), with support from CFI, explores why and how equity impact investors use offshore vehicles. Our findings reveal that offshore vehicles offer key operational, legal, tax and reputational advantages and are a key part of the impact investment landscape. Through interviews with Financial Inclusion Equity Council (FIEC) members, we […]

Vision of the Future: Financial Inclusion 2025

The future for poor people and financial inclusion is difficult to predict. In what ways will financial services influence inequality and economic participation for poor people by 2025? CGAP brought together more than 100 thought leaders, innovators, development actors, and academics to ponder this question. The scenario thinking exercise uncovered several insights that point to four major forces that are likely to fundamentally shape poor people’s lives and the financial […]