Women and Digital Financial Services in Sub-Saharan Africa: Understanding the Challenges and Harnessing the Opportunities draws on several studies over the past six years and shows that there are pronounced differences in the way men and women engage financial services in Sub-Saharan Africa. The researchers recommend that providers offer simplified services for basic phones, emphasize marketing through social networks, and mimic the flexibility and social aspects of informal services to better […]
Banking on the Future: Youth and Digital Financial Services in Sub-Saharan Africa summarizes insights on youth uptake and usage of DFS from a cross-section of studies over the last six years, and recommends, for example, that providers can better reach out to the youth by offering savings accounts, checking or prepaid accounts, and micro loans.
The future success of inclusive digital finance depends on finding better and more affordable uses for digital wallets that will encourage low-income customers to use them regularly and repeatedly. High-volume payments (HVP) have gained industry attention as a means to drive or diversify usage, particularly among low-income customers. To better understand the prerequisites to implement HVP digitally and to unlock the opportunity of digital finance, the UN Capital Development Fund […]
New sources of data, as well as new ways of processing such data, have contributed to an ongoing expansion in the availability of digital financial services (DFS) to served, underserved, and unserved consumers. Such data is being used to design and market customer-centric digital financial services, create credit scores for consumers with limited credit histories, meet and facilitate know-your-customer requirements, and minimize the risk of fraud. Yet a great variety […]
Technology is changing the way we access a range of products and services, from viewing digital content to paying for goods and services via our mobile phones. The proliferation of mobile internet and smartphone access in emerging markets is creating new and exciting opportunities to narrow the digital inclusion gap and an opportunity for mobile money providers to leverage the added benefits of smartphones. This publication is part of a […]
The Global Microscope is a benchmarking index that assesses the enabling environment for financial access in 55 countries. The research underscores the evolving landscape of financial inclusion itself. This year’s index was completely revised to take a forward-looking focus on digital financial services, and to address the critical role of financial inclusion envisioned in the Sustainable Development Goals (SDGs). This report was originally published on the EIU’s website.
This handbook offers financial services providers an understanding of smallholder farmers and agricultural value chains, and practical guidance on how to develop and launch sustainable financial services for the agricultural sector. It surveys the current landscape in terms of existing DFS offerings in the agricultural sector, to share actual market experience and lessons learned from the pioneers in the market. Although financial inclusion has expanded dramatically in Sub-Saharan Africa over […]
The full potential of FinTech for financial inclusion may be realized with a strategic framework of underlying infrastructure and an enabling policy and regulatory environment to support digital financial transformation. Drawing from experiences in a range of developing, emerging and developed countries, our research suggests that the best approach is staged and progressive, focused on four main pillars. This is a major journey for any economy, but one that experience […]
The opportunities and risks presented by innovative digital finance solutions are two sides of the same coin, with digitisation holding enormous potential for advancing financial inclusion in innovative ways in developed and developing economies alike. Digital financial services (DFS) are deemed to be a huge game changer, especially in sub-Saharan Africa where the number of individuals making use of digital payments increased by 68.5 million from 2014 to 2017. With […]
Technology risk is high in financial inclusion market The following press release was originally published on CSFI’s website. Survey identifies potential pitfalls New technology is delivering considerable benefits to the financial inclusion market – but is also creating new risks that service providers need to manage if they are to succeed. This is the main conclusion of a new survey of the risks (or Banana Skins) in the provision of […]