Sai Krishna Kumaraswamy

Financial Sector Analyst

Sai Krishna Kumaraswamy is part of the Business Models pillar at CGAP. He works on digital finance innovations that enable improved livelihoods and expanded access to essential services for the poor, focusing on micro and small enterprise financing, asset finance and the intersection of gender and off-grid energy access.

Previously, Sai Krishna worked as a researcher at the Gender Group and at the Global Infrastructure Facility of the World Bank. He has over eight years of emerging market experience providing audit, advisory, and consulting services to clients in the financial services, energy, infrastructure, technology and government sectors.

Sai Krishna is a Chartered Accountant. He obtained a Master’s degree in Political Economy and Development Economics from The Fletcher School at Tufts University, a Master’s degree in Liberal Arts from Ashoka University and an undergraduate degree in Accounting, Business and Finance from St. Joseph’s College, Bangalore. He is fluent in Tamil, Kannada and Hindi.

By Sai Krishna Kumaraswamy


Regulators Eye Digital Credit in India: What Does it Mean for MSEs?

The growth of India’s fintech industry has historically been driven by digital payments, but now digital credit is poised to take the reins. But what is digital credit, and how can its regulation help narrow the credit gap for India’s MSEs?

The Promise of Fintech for Micro and Small Enterprises

Nearly 500 million micro and small enterprises (MSEs) are estimated to be operating around the world. Access to credit and other financial services is critical to the growth and sustainability of these businesses, and consequentially to the low-income and vulnerable populations which rely on MSEs for their livelihoods. Yet despite decades of efforts and some notable successes in expanding MSE finance, the credit gap remains an estimated 4.9 trillion U.S. dollars.

Developing Rural Agent Networks: Emerging Guidance for Funders

Funders are uniquely positioned to help expand rural Cash-in / Cash-out (CICO) agent networks by leveraging their financial resources, technical knowledge and convening power to align the incentives and build capacity of market actors, so that they design and implement self-sustaining solutions.

No Small Business: A Segmented Approach to Better Finance for Micro and Small Enterprises

This paper is based on primary research conducted with 383 micro and small enterrpises (MSEs) in India, Kenya, and Peru – three diverse emerging markets with a vibrant MSE finance ecosystem that includes strong incumbent providers like microfinance institutions, cooperatives, and banks, as well as innovative new providers like fintechs.

Why Don’t MSEs Trust Digital Credit Providers?

Lack of trust in formal financial service providers among MSEs (especially the smallest, poorest, and women-owned enterprises) is a looming concern. While technology offers hope, more needs to be done to gain the trust of customers at the last mile.