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.
Mobile financial services (MFS) have rapidly become a conduit for fraud and other criminal activity. Various fraud types have been noted in key MFS markets, including consumer-facing fraud from agents and third parties and fraud perpetrated against agents.
This case study describes the Juntos platform, which aims to address the engagement gap between customers and providers. It describes how it works, what it can and cannot do, early results, and issues arising from initial implementations.
This Brief explains why approaches to inclusive finance that are currently widespread do not share the potentially destabilizing attributes of other types of shadow banking, concluding by identifying some risks worth monitoring as the picture continues to evolve.
This report explores what consumers understand about their mobile data, and how it is being used by financial service providers and what methods for informed consent might help ensure that individual borrowers understand how their information is used.
Transformational branchless banking heightens the consumer-related concerns of regulators and supervisors because it combines the use of agents and technology-enabled devices to serve large numbers of less educated and inexperienced customers.