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.
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 2016 GPFI white paper highlighted privacy and data security risks in digital financial services, asking international financial Standard-Setting Bodies (SSBs) to pay attention. Why are they concerned, and what steps can SSBs take to improve data security?
Regulators have traditionally focused their efforts on ensuring stable and sound financial systems, and this role has been amplified in developed countries since the global financial crisis of 2007 to 2009.
Because they recognize its importance for economic and social progress, global and national policymakers have made it a priority to advance financial inclusion so people can access and use the appropriate financial services that help them improve their lives. To make real progress, we at CGAP believe the field has 10 priorities over the next 5 years.
Following the endorsement of the G20 Basic Set of Financial Inclusion Indicators, the Global Partnership for Financial Inclusion's Data and Measurement Sub-Group, in collaboration with partners, has developed an online data portal.
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?
More and more policymakers are now recognizing that financial exclusion is a risk to political stability and impedes economic advancement, and that financial inclusion measures can complement, not undermine, financial stability, financial integrity, and consumer protection.