Publications

COUNTRY DIAGNOSTIC: THE STATE OF DIGITAL PAYMENTS IN THE PHILIPPINES

18 Feb 2020
  • Keyzom Ngodup Massally
  • Rodrigo Mejía Ricart
  • Malavika Bambawale
  • Swetha Totapally
  • Vineet Bhandari

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Government recognize digital payments as a policy priority to enable Filipinos to seize the opportunities of the digital revolution. The Philippines was a global early-mover in digital payments, with the launch of mobile money in 2001. However, as in most countries, the path to widespread adoption and usage has not been straightforward. The first Better Than Cash Alliance diagnostic on the state of […]

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POWERING OPPORTUNITY IN EAST AFRICA: PROVING OFF-GRID SOLAR IS A POWER TOOL FOR CHANGE

18 Feb 2020
  • Susie Wheeldon
  • Sjef Ketelaars
  • Emmanuel de Dinechin
  • Guillaume de Chorivit
  • Oliver Reynolds
  • Clémence Laevens

Confirming the positive socioeconomic impact of solar home systems over a longer period of time, Powering Opportunity in East Africa. Proving Off-Grid Solar is a Power Tool for Change finds: An overwhelming majority (94%) of people living with solar home systems reporting improvements to their quality of life. 34% of households report being more economically active with 28% making an additional $46 per month on average. The research, funded by UK aid […]

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CYBER SECURITY IN FINANCIAL SECTOR DEVELOPMENT: CHALLENGES AND POTENTIAL SOLUTIONS FOR FINANCIAL INCLUSION

18 Feb 2020
  • Silvia Baur-Yazbeck
  • Judith Frickenstein
  • David Medine

This paper assesses the relevance of cyber security for the development of inclusive financial systems in developing countries. The growing use of digital financial services and shared service platforms has increased the financial sector’s exposure to cyber risks. Financial service providers and their customers, regulators and supervisors are challenged with the increase in cyber threats – especially in emerging and developing countries with lower capacities and less resources. The paper […]

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POLICY RESPONSES TO FINTECH: A CROSS-COUNTRY OVERVIEW

10 Feb 2020
  • Johannes Ehrentraud
  • Denise Garcia Ocampo
  • Lorena Garzoni
  • Mateo Piccolo

Technological innovations in financial services (fintech) are increasingly transforming the way financial services are provided. While fintech opens opportunities, it also comes with potential risks. Financial authorities have responded to fintech developments in various ways. Based on survey responses from around 30 jurisdictions, this paper provides a cross-country overview of policy responses to fintech developments. In addition, building on the work by global standard-setting bodies and other international organisations, the […]

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THE ECONOMIC FORCES DRIVING FINTECH ADOPTION ACROSS COUNTRIES

10 Feb 2020
  • Jon Frost

Fintech is being adopted across markets worldwide – but not evenly. Why not? This paper reviews the evidence. In some economies, especially in the developing world, adoption is being driven by an unmet demand for financial services. Fintech promises to deliver greater financial inclusion. In other economies, adoption can be related to the high cost of traditional finance, a supportive regulatory environment, and other macroeconomic factors. Finally, demographics play an […]

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

03 Feb 2020
  • Francis Gwer
  • Jack Odero
  • Edoardo Totolo

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 […]

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BANKING THE NEXT BILLION: DIGITAL FINANCIAL INCLUSION IN ACTION

30 Jan 2020
  • Ronit Ghose, CFA
  • Rahul Bajaj, CFA
  • Mohammed Khallouf, CFA
  • Ashwin Shirvaikar, CFA
  • Robert Annibale
  • Jorge Rubio Nava

If you live in the developed world, have a think about the last time you went to your local bank branch. Did you feel fortunate to be there? Did you only really get excited if you were able to get in and out of the building in five minutes flat? How about making a payment online? That’s usually an infinitely better experience and time saver versus going to an actual […]

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MAKING DATA WORK FOR THE POOR: NEW APPROACHES TO DATA PROTECTION AND PRIVACY

23 Jan 2020
  • David Medine
  • Gayatri Murthy

With the rise of digital technologies, the use of personal data by private companies is growing rapidly. But how do we know they will use this data responsibly and in consumers’ best interests? In emerging and developing markets, the question is particularly acute because the predominant model rests upon obtaining consumer consent to use their data. Informed consent, however, is unrealistic given the complexity of disclosures and particularly so in […]

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DIGITAL ID AND THE DATA PROTECTION CHALLENGE: PRACTITIONER’S NOTE

23 Jan 2020

    Inclusive and robust identification systems can offer many concrete benefits for governments, as well as individuals, private companies, and development partners. By providing a secure and accurate way of identifying the population, these systems can facilitate the delivery of a wide variety of services that expand financial inclusion, boost economic opportunities, improve access to social safety nets, increase gender equality, and more. In addition to these developmental uses, evidence suggests […]

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    EXPLORING THE LINKS BETWEEN FINANCE, TECHNOLOGY AND GROWTH IN KENYA

    23 Jan 2020
    • Paul Gubbins

    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 […]

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