This diagnostic provides an analysis of the regulatory framework for DFS in Côte d’Ivoire, including its coverage, conducive features, and gaps and obstacles. The paper also offers recommendations on how to address these issues.
Despite significant funding for financial inclusion efforts worldwide—an estimated US$34 billion was committed as of 2015—approximately 2 billion adults remain excluded from the formal financial system. How do funders of financial inclusion programs know if and how development programs are making a difference?
This study looks at Pakistan’s nearly decade-old experience with regulating digital financial services (referred in the local context as branchless banking) as a test case for the RIA Lite methodology,
Regulatory sandboxes may enable financial innovations that benefit excluded and underserved customers. In most cases, a regulatory sandbox is a framework set up by a financial sector regulator to allow small-scale, live testing of innovations by private firms in a controlled environment under the regulator’s supervision.
Funders have an important role to play in exploring how data-enabled financial services can benefit poor people and in helping governments to balance the new risks that are emerging with the opportunities provided by a digital world.
This Working Paper explores three approaches banks in Kenya have used to respond to mobile money. While nonbank mobile financial services can fundamentally reshape the financial sector in a developing market, as they have clearly done in Kenya, mobile services need not represent an existential threat to the traditional banking industry.
There is not enough being done to implement minimum standards in consumer protection for digital credit, and this exposes the industry and consumers to risks such as credit bubbles and mass-blacklisting of consumers in credit bureaus for just a few dollars of debt.
Customers are turning to formal channels that use digital and mobile technologies for remittances because these are often able to offer services at lower costs. As more customers turn to formal services, remittances will have an even stronger developmental impact, notably in countries where protracted humanitarian crises affect large numbers of people.
Financial services providers for low-income customers typically believe that their business case is based on expanding the number of accounts or the number of transactions made by these customers. This is only part of the equation to business success.