Research from the Field in Uganda: New Approaches in Delivering Financial Education

Oliver Schmidt
20 Apr 2018

Author: Oliver Schmidt As outlined in a workshop session at European Microfinance Week 2017, Financial Education (FE) is one of the pillars of financial inclusion. Without it, microfinance clients are not able to make informed and appropriate choices; they cannot compare the costs of financial products, understand the risks of failing to repay their own loans or of taking on someone else’s risk in cases of guarantees, or accurately assess how […]

Financial Inclusion Responds to the Zuckerberg Moment

Elisabeth Rhyne, Managing Director, CFI
13 Apr 2018

It’s not just social media. We need a fresh look at how financial data is protected, too. > Posted by Elisabeth Rhyne, Managing Director, CFI Mark Zuckerberg defended Facebook’s handling of customer data yesterday before the U.S. Senate, and many of us at Accion and the Center for Financial Inclusion were riveted. Not that the testimony was especially compelling as television spectacle, but because the issues at stake are so important both […]

6 Ways Microfinance Institutions Can Adapt to the Digital Age

Greta Bull
13 Apr 2018

Photo: Hailey Tucker, 2017 CGAP Photo Contest FinTechs, neobanks, blockchain, super platforms, artificial intelligence – with all the exciting changes in technology creating new business models for financial inclusion, it’s easy to think that older models like microfinance have been eclipsed. But have they? There’s no doubt that microfinance institutions (MFIs) are highly motivated to serve the poor. But to continue playing that role in the long run, they need […]

Rabobank desensitizes client data during testing phase with IBM

13 Apr 2018

Rabobank is working with IBM to use cryptographic pseudonyms on its client’s personal data to innovate and comply with new financial regulations in the EU. Desensitized data makes it easier for Rabobank to use the data for performance testing for the development of new innovative technologies and services, such as mobile apps and payment solutions. Starting on 25 May, the General Data Protection Regulation (GDPR) seeks to create a harmonized […]

Blockchain & Distributed Ledger Technology (DLT)

13 Apr 2018

Blockchain is one type of a distributed ledger. Distributed ledgers use independent computers (referred to as nodes) to record, share and synchronize transactions in their respective electronic ledgers (instead of keeping data centralized as in a traditional ledger). Blockchain organizes data into blocks, which are chained together in an append only mode. Blockchain/ DLT are the building block of “internet of value,” and enable recording of interactions and transfer “value” peer-to-peer, without […]

How to Build Inclusive Digital Economies

Atul Mehta, Ceyla Pazarbasioglu and Jose Luis Irigoyen
13 Apr 2018

By Atul Mehta, Director, IFC, Telecom, Media & Technology, Fintech, Venture Capital & Funds;Ceyla Pazarbasioglu, Senior Director, World Bank Group, Finance, Competitiveness and Innovation Global Practice; and Jose Luis Irigoyen, Senior Director, World Bank, Transport and Digital Development Global Practice If we wish to create a future built on shared prosperity, digital technology will be critical. Today, of the world’s 10 largest companies by market capitalisation, six are technology companies. And of those, only […]

Corporate Governance for Financial Inclusion — Insights for Boards of Microfinance Institutions: Managing Current Issues, Crisis and Change

29 Mar 2018

IFC’s report, Corporate Governance for Financial Inclusion — Insights for Boards of Microfinance Institutions: Managing Current Issues, Crisis, and Change, reflects on 20 years of experience in the evolution of microfinance and its potential for digital transformation. Through a comprehensive analysis of a myriad of risks, challenges and opportunities facing the financial inclusion industry today, the report presents a renewed outlook for boards serving in institutions that are navigating through […]

Safaricom M-PESA: Using Data Analytics to Improve Customer Service and Products

Susie Lonie and Oleksiy Anokhin
28 Mar 2018

Providing access to financial resources remains one of the main current goals of global international development. The simple provision of access to finance does not however necessarily change the market outlook for providers, nor does it resolve the constraints on customers. Service providers have to constantly improve the quality of the services they offer. Firms that manage by the three pillars of Responsible Finance should pay careful attention to fair […]

The rapidly changing landscape of digital lending

Priya Punatar
26 Mar 2018

Taking stock of the top seven emerging digital lending models Last year, Amazon grabbed headlines by giving $1 billion in small-business loans to over 20,000 merchants in the United States, Japan, and the U.K. Their near real-time data on sellers’ businesses and access to customer reviews allow Amazon to evaluate customers and manage the risk of lending to small merchants. WeChat also made waves when it entered the game in 2015. As […]

From Bust to Trust

Paul Smith
21 Mar 2018

In The Big Short, Steve Carell plays Mike Baum — the fictionalized version of Steve Eisman of FrontPoint Partners — and emphatically voices the fiduciary responsibilities of many professionals in the lead-up to the US housing market collapse in 2007–2008. His earnestness, his frustration, and his rage about the breadth of deception suck you in to a movie that is riveting. The depth of his intensity is palpable, and what he […]