Publications

Modelo Peru: A Mobile Money Platform Offering Interoperability Towards Financial Inclusion

25 May 2018
  • Paola Elvira Del Carpio Ponce

everal emerging markets around the world face numerous challenges in their attempts at increasing their provision of financial services. Beginning in 2015, Peru implemented a strategy called Modelo Peru with the objective of launching a mobile money platform to reach and better serve the unbanked and underbanked. This strategy gathers financial institutions, telecom companies, and the government in an effort to achieve interoperability among these three groups and attain scale […]

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Digital Access: The Future of Financial Inclusion in Africa

23 May 2018

The launch and growth of digital financial services in Africa has led to an unprecedented increase in the number of people enjoying access to formal financial services. The continent is now home to more digital financial services deployments than any other region in the world, with almost half of the nearly 700 million individual users worldwide. Mobile money solutions and agent banking now offer affordable, instant, and reliable transactions, savings, […]

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Asia’s digital banking race: Giving customers what they want

23 May 2018
  • Sonia Barquin
  • Vinayak HV
  • Duhita Shrikhande

Asia’s banking customers are migrating to digital channels in force. The challenge for the region’s banks is to deliver superior digital experiences before competitors do. Smartphones in hand, customers across Asia are changing how they bank, growing more open to exploring and using digital channels for their financial needs. This openness to digital channels will reward those banks that can meet customers’ expectations; but it also represents a challenge to […]

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Biometrics and financial inclusion: A roadmap for implementing biometric identity systems in sub-Saharan Africa

22 May 2018
  • Barry Cooper
  • Masiiwa Rusare
  • Albert van der Linden
  • Matthew Ferreira

The World Bank (2017) estimates that 1.1 billion people live without proof of identity. Nearly 50% of these people live in sub-Saharan Africa, where 454 million individuals are excluded from formal identify systems. In Nigeria, 78% of the population or 149 million individuals cannot prove their identity. Lack of identity documentation varies in its severity as a barrier to exclusion depending on the country, but overall indicates a significant problem […]

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ePRIVACY AND DATA PROTECTION – Privacy Matters: Navigating the New World of Data Protection

21 May 2018
  • Catherine T O’Neill
  • Thomas A Singlehurst, CFA
  • Dan F Homan
  • Georgios Ierodiaconou
  • Mark May

“We’ve lost control of our personal data”, Sir Tim Berners-Lee, inventor of the World Wide Web, said in March 2017. The widespread collection of data has led to the rise of data asymmetry and, consequently, consumer trust is low. Some would argue that it has led to the prioritization of profit over privacy. Consumers believe cybersecurity and privacy risks are amongst the biggest risks facing society.[1] The ramifications should not […]

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The Global Findex Database 2017

23 Apr 2018
  • Asli Demirgüç-Kunt
  • Leora Klapper
  • Dorothe Singer
  • Saniya Ansar
  • Jake Hess

The Global Findex database is the world’s most comprehensive data set on how adults save, borrow, make payments, and manage risk. Launched with funding from the Bill & Melinda Gates Foundation, the database has been published every three years since 2011. The data are collected in partnership with Gallup, Inc., through nationally representative surveys of more than 150,000 adults in over 140 economies. The 2017 edition includes updated indicators on […]

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Toward Universal Financial Inclusion in China: Models, Challenges, and Global Lessons

18 Apr 2018
  • Dangwei Bai
  • Rundong Jiang
  • Tiandu Wang
  • Jennifer Chien
  • Douglas Randall

Learning from China’s financial inclusion experience over the past 15 years. This report examines in detail China’s approach to financial inclusion over the past 15 years. It benchmarks China’s progress against peer economies and analyzes key developments and factors in China’s financial inclusion experience. The report also outlines remaining challenges to achieving further advances in financial inclusion in China, and distills key lessons for policymakers in other countries to develop […]

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Distributed Ledger Technology (DLT) and blockchain

13 Apr 2018
  • Harish Natarajan
  • Solvej Krause
  • Helen Gradstein

The financial sector is currently undergoing a major transformation, brought about by the rapid development and spread of new technologies. The confluence of ‘finance’ and ‘technology’ is often referred to as ‘Fintech’, typically describing companies or innovations that employ new technologies to improve or innovate financial services. ‘Fintech’ developments are seen across all areas of the financial sector, including payments and financial infrastructures, consumer and SME lending, insurance, investment management, […]

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Case Study: Investing in Responsible Financial Inclusion – Profile of Smart Campaign Client Protection Certified Institutions

29 Mar 2018

    This report captures data from 89 financial service providers (FSPs) which were Smart certified as of July 2017. Some of the data was gathered from the database maintained by PRFI on its members as part of its work with the Smart Campaign. Assets, client reach (using active borrower), and portfolio-at-risk data was collected from the Mix Market, which publishes financial, operational and social performance data on over 1,300 FSPs and […]

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    Financial Inclusion in the Digital Age

    29 Mar 2018
    • Anju Patwardhan
    • Ken Singleton
    • Kai Schmitz

    Billions of adults across the globe lack access to the financial services they need to achieve even modest levels of financial well-being. Many households and small businesses in emerging markets have no or very limited access to formal financial services. Even in developed countries, they only have access to a limited menu of cost-effective products from financial institutions for addressing their financial needs. Over two billion unbanked adults in the […]

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