From KYC utilities to blockchain apps and new ways to collaborate on customer due diligence, recent developments are chipping away at a major barrier to financial inclusion: the high cost of meeting anti-money laundering and terrorism financing requirements.
Digital technologies are changing the financial inclusion landscape worldwide by revolutionizing access to finance, connecting hundreds of millions to formal financial services for the first time. Financial market regulators, supervisors and overseers are racing to keep pace with these developments.
“Crowdfunding” is market-based financing where small amounts of funds are raised from large numbers of individual sources. While crowdfunding has the potential to become the next big thing for financial inclusion, risks for both borrowers and lenders need to be better understood.
Since 2011, financial Standard-Setting Bodies (SSBs) have taken fundamental steps on financial inclusion. However, a new GPFI White Paper observes that little progress has been made on understanding financial exclusion risks. What are these risks, and what can be done to address them?
Global standard-setting bodies (SSBs) are increasingly recognizing the significant implications of developments in digital financial services. A new white paper from The Global Partnership for Financial Inclusion (GPFI) offers a roadmap through some of the most critical issues.
A new Brief from CGAP aims to provide national and global policy makers with a clear picture of the rapid development of digital financial services for the poor and the need for their attention and informed understanding.
A new report from the Basel Committee on Banking Supervision reveals the extent to which supervisory and regulatory practices are evolving in response to the emergence of new institutions, financial products and intermediation channels.
Policy makers, regulators, and supervisors in countries where digital financial inclusion is expanding exponentially see the financial inclusion promise clearly. Yet, they are grappling with the fast-changing risk picture.
In Eastern Europe and Central Asia (ECA) region a deep and growing divide between commercial, high-interest consumer finance and traditional social purpose microlending is emerging, and the confusion of the two in the eyes of the public.