Responsible finance is a cornerstone of the 2020 Universal Financial Access Goals of the World Bank Group, and contributes to the United Nations’ Sustainable Development Goals (SDGs). Responsible finance continues to be a cross-cutting priority of the G20 Global Partnership for Financial Inclusion (GPFI), and of the broader financial inclusion initiatives worldwide.
The Forum, now in its seventh year (RFFVII), highlighted Responsible Financial Inclusion and Digital Innovation: Focus on Asia. In recognition of the regional focus, it was held in Xi’an, China. The Forum brought together over 100 participants globally, mainly representing the private and public sector of the Asia region in general and China in particular. They included leaders from industry, as well as regulators, providers, investors, researchers and innovators in digital financial services. The event was linked to the G20/GPFI meetings that took place on May 24–25, 2016. It was conducted by the GPFI Sub-Group on Financial Consumer Protection and Financial Literacy (FCPFL), and held alongside the parallel technical committee discussions on a proposed G20 High Level Principles for Digital Financial Inclusion.
This report summarizes the evolving landscape, challenges and opportunities in advancing digital financial inclusion. We hope the related experience and innovations highlighted throughout the report inspire new ideas for research, policy and practice. We also hope that they will motivate action not only from among the conference participants, but also from the wider digital financial inclusion community of experts and practitioners.
The next RFF will be held in Germany in 2017, with Germany assuming the upcoming G20 Presidency of the GPFI. The RFFVII will further inform key topics to be covered, including actionable steps from the G20 High Level Principles for Digital Financial Inclusion.
We encourage new and ongoing partners and members to stay engaged by regularly visiting this website www.responsiblefinanceforum.org.