Photo for CGAP by Saiyna Bashir via Communication for Development Ltd.
In times of crisis, our values matter more than ever.
CGAP’s vision is a world where poor people, especially women, can capture opportunity and build resilience to advance their lives. In these deeply troubling times, the values we share of dignity and respect for every person, where racism has no place and diversity is celebrated, are ever more important to affirm. We stand with everyone around the world working for justice, human dignity and equality.
COVID-19 has led millions of women to open accounts, spurred investments in digital infrastructure, and built momentum around women’s financial inclusion. By taking the right steps, we can push women’s financial inclusion further than ever before.
While digital financial services have delivered substantial financial inclusion benefits and unlocked life-changing opportunities for consumers, CGAP’s latest research finds that they have exacerbated existing consumer risks and continue to introduce new and ever-evolving risks—some outgrowing consumer adoption rates.
As big techs and other platforms ramp up their financial service offerings in emerging markets, regulators can look at developments in advanced economies to get a glimpse into the data protection issues they will need to consider.
Digitization can benefit microfinance institutions (MFIs), but it also creates regulatory complexity. Losing sight of the regulatory environment can lead to costly mistakes. Here are three regulatory aspects of digitization for MFIs to consider.
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