Predictive modelling will advance financial inclusion as the rural business case improves: a case study in Uganda

Christian Ruckteschler
30 Jan 2018

By Christian Ruckteschler Introduction A key aspect of responsible finance is inclusion: ensuring that the financial system works not only for the wealthy and urban but for all members of society. Yet achieving financial inclusion in the poorest and most remote rural areas remains a difficult feat. The lack of economic viability keeps banks and other financial institutions out of remote areas, and even mobile money agents are currently far and […]

Advancing Financial Inclusion in Nigeria

Sabahat Iqbal
21 Dec 2017

By Sabahat Iqbal Nigeria is one of 25 priority countries for the World Bank Group’s Universal Financial Access Goals to reach 1 billion adults worldwide by 2020, women and men alike –enabling access to a transaction account or an electronic instrument to store money, send payments and receive deposits as a basic building block to manage their financial lives. According to the latest Global Findex report available, 44.2% of adults […]

Interactive Dashboards: A Tool to Improve Operations for Data Driven Organizations

Soren Heitmann, Oleksiy Anokhin
21 Dec 2017

By Soren Heitmann and Oleksiy Anokhin Introduction Collecting increasing amounts of data every day, players on the global market face new challenges in interpreting, visualizing, and communicating information for meaningful data-driven decisions. A fast-growing demand for simple and effective visualization products pushes market participants to pay greater attention to interactive visualization tools, allowing for a holistic picture of everyday activities, results, and lessons learned. This need exists in many sectors, but […]

Fintech in Microfinance: In Search of the High-Tech High-Touch Unicorn?

Todd A. Watkins, Paul DiLeo, Anna Kanze, and Ira Lieberman
20 Dec 2017

By Todd A. Watkins, Paul DiLeo, Anna Kanze, and Ira Lieberman Fintech is a shiny attractor for impact investors. Emerging financial technologies shimmer with disruptive potential for the delivery of a wide array of financial, educational, health, and social services for the poor. While microfinance still makes up a major share of impact investing portfolios, many investors appear to have moved on to fintech, the next wave of creative destruction. Rather than […]

Data Privacy and Consumer Protection: Anonymizing User Data is Necessary, and Difficult

Soren Heitmann
29 Nov 2017

by Soren Heitmann Introduction: Next generation data analytics are driving innovative products, services and new FinTech business models.  Many of these products draw on individual consumer data.  Responsibly managing data privacy and ensuring consumer data protection is critical to mitigate operational and reputational risks.  In many markets, regulators are still catching up.  Unfortunately, many innovators identify risks after it is too late.  This post explores the issue of data anonymization and […]

Advancing Responsible Finance in Myanmar

Lory Camba Opem and Ricardo Garcia Tafur
28 Nov 2017

By Lory Camba Opem and Ricardo Garcia Tafur IFC’s mission is to support effective, responsible, inclusive financial intermediaries and leverage them to meet development impact and financial sustainability goals.  Myanmar is one of the top 25 priority countries in the World Bank Group’s Universal Financial Access initiative to expand access to one billion of the world’s unbanked by 2020.  For Myanmar, this goal entails increasing financial inclusion from 30 percent in […]

GPFI members came together in Washington for the last Meeting under Germany’s G20 Presidency

28 Nov 2017

The GPFI held its 3rd Meeting under the German G20 Presidency on 12 October 2017 in Washington D.C. The German Presidency presented the relevant financial inclusion results of the G20 Hamburg Summit and the incoming Argentine Presidency introduced planned GPFI priorities for 2018 and discussed these with GPFI members. Furthermore, the stocktaking study “Financing for SMEs in Sustainable Global Value Chains” was launched at the GPFI Meeting. GPFI members agreed on […]

Information Disclosure and Demand Elasticity of Financial Products: Evidence from a Multi-Country Study

Sabahat Iqbal
31 Oct 2017

According to The Smart Campaign’s Client Protection Principles, all socially responsible financial institutions should be committed to transparency of pricing and other terms and conditions of all their financial product offerings by communicating “…clear, sufficient and timely information in a manner and language clients can understand so that clients can make informed decisions”. Failure to follow this principle can lead to a decrease in customer uptake from the lower income […]

Big Data, Financial Inclusion and Privacy for the Poor

Dr. Katherine Kemp, Research Fellow, UNSW Digital Financial Services Regulation Project
30 Aug 2017

Financial inclusion is not good in itself. We value financial inclusion as a means to an end. We value financial inclusion because we believe it will increase the well-being, dignity and freedom of poor people and people living in remote areas, who have never had access to savings, insurance, credit and payment services. It is therefore important to ensure that the way in which financial services are delivered to these […]

Regulatory Sandboxes: Potential for Financial Inclusion?

Ivo Jenik
30 Aug 2017

Many regulators need to address innovations that could advance financial inclusion without incurring major risks. Regulatory sandboxes have emerged as a tool that has potential. A regulatory sandbox is a framework set up by a regulator that allows FinTech startups and other innovators to conduct live experiments in a controlled environment under a regulator’s supervision. Regulatory sandboxes are gaining popularity, mostly in developed financial markets. With a few exceptions, the […]