Publications

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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    U.S. FINANCIAL HEALTH PULSE: 2019 TRENDS REPORT

    23 Jan 2020
    • Beth Brockland
    • Thea Garon
    • Andrew Dunn
    • Eric Wilson
    • Necati Celik

    The Financial Health Network, the nation’s authority on financial health, in partnership with Flourish, MetLife Foundation, and AARP, has released the U.S. Financial Health Pulse 2019 Trends Report.  Now in its second year, this year-over-year analysis of peoples’ financial health found that despite a strong economy, only 29% of people in the U.S. are financially healthy.  As signs of a looming economic downturn increase, this indicates that the majority of […]

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    WORLD ECONOMIC OUTLOOK UPDATE, JANUARY 2020: TENTATIVE STABILIZATION, SLUGGISH RECOVERY?

    23 Jan 2020

      World Economic Outlook reports are surveys by the IMF staff usually published twice a year. They present IMF staff economists’ analyses of global economic developments during the near and medium term. Chapters give an overview as well as more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. As of January 2020, global […]

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      CGAP FUNDER SURVEY 2018

      22 Jan 2020
      • Olga Tomilova
      • Edlira Dashi

      International funders committed an estimated US$47 billion in 2018 for financial inclusion, a 12 percent increase from the prior year, signaling that financial inclusion plays a vital role as an enabler of many Sustainable Development Goals (SDGs). A third of international funders responding to the CGAP Funder Survey have been purposefully aligning their financial inclusion efforts to the achievement of the SDGs. Many international funders also are committing to help close the […]

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