Based on pilots in five countries (Colombia, Cote d’Ivoire, India, Indonesia, Morocco and Pakistan), we share early insights on how funders can engage with stakeholders in Cash-in Cash-out (CICO) rural agent networks to kickstart innovation.
This year, the Findex database provided new information on the quality of customers’ journeys in accessing and using financial services, including some of the risks consumers face, and the outcomes they experience - we break down the numbers.
Two debates fuel a seemingly never-ending cycle of support and criticism for the microfinance industry. We propose ways to resolve knowledge gaps that perpetuate these debates, which are also relevant for the broader financial inclusion community.
Global Findex 2021 shows Sub-Saharan Africa has made progress in financial account ownership and usage over the past decade but lags behind in closing the financial inclusion gender gap and indicators around the value of financial services.
While digital financial services are driving financial inclusion in Côte d’Ivoire, we are also seeing the emergence of significant consumer risks that will require concerted action from all stakeholders in the digital finance ecosystem to counteract.
Governments are enrolling the unbanked into the formal financial system at scale in EMDEs, primarily to facilitate government-to-person (G2P) payments, but do all these accounts with funds flowing into them amount to financial inclusion? Not yet.
Originally published by DevEx, CGAP CEO Sophie Sirtaine highlights the need to explore an integrated approach to ESG that incorporates ambitious yet feasible standards to drive positive social impacts while achieving economic and climate objectives.
How can FCP authorities bridge the regulator-consumer gap and ensure the financial marketplace is fair and balanced for all consumers? One promising solution is consumer advisory panels, which elevate the collective consumer voice.
Emerging evidence shows digital finance consumer risks are increasing and, if not mitigated, could undermine users’ trust. We highlight risks that affect digital financial services users in Sub-Saharan Africa and measures to mitigate them.
With the rapidly changing digital finance market bringing new risks that can only be addressed through a new, holistic approach to consumer protection, this leadership essay argues that it is now time to build a “responsible digital finance ecosystem”.
When is interoperability right for microfinance institutions? We draw on interviews with 40 small financial institutions to unpack the complex picture around a universal approach to ensuring all institutions benefit from real-time, digital payments.
The 2021 Global Findex data provides a promising trajectory for financial inclusion, but reach is just one defining success factor. Is it time for the financial inclusion industry to revisit how we think about and measure success?
Kenya has seen an explosion of fintechs and nano credit providers, but they have yet to meaningfully serve MSEs in the country. We explain how fintechs could have a wider reach and distinct value proposition for MSEs in Kenya beyond digital credit.
Data sharing can unlock a number of opportunities for the financial inclusion of poor individuals in EMDEs. To understand how, we must look at the various models of data sharing and how they may result in an inclusive data ecosystem.
CGAP and Accenture LLP (Accenture) launched a pilot to help Peruvian authorities assess their consumer listening mechanisms and determine the necessary steps to design an integrated financial consumer protection platform.
Remittances channels are vital for the well-being of millions of low-income families in the ECA region. As international payment systems are disrupted, the integration of national payment systems have been filling some of the gap.
PAYGo financing is expanding beyond solar, creating the potential to improve the lives of low-income households through financial inclusion. The challenge will be to manage the accompanying consumer risks without killing innovation.
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.
Digitizing microbusinesses and informal work can help low-income workers and businesses access more and cheaper financial services, but only if the data created by digitization can improve risk evaluation by lenders.