It's been five years since Kenya launched its first digital credit solution. A new CGAP survey shows that one in four Kenyans has taken a digital loan, mostly for working capital and day-to-day consumption.
Agricultural lending remains a frontier area even as the alternative lending space fills up with new players. Here are some early insights from CGAP's work on alternative credit scoring for smallholder farmers in Uganda.
From KYC utilities to blockchain apps and new ways to collaborate on customer due diligence, recent developments are chipping away at a major barrier to financial inclusion: the high cost of meeting anti-money laundering and terrorism financing requirements.
The hard work of educating customers about mobile payments is increasingly falling to start ups offering services like water and solar. In Ghana, Safe Water Network is showing how this can be done in partnership with providers.
For interoperability to work, technology must do more than move transactions from Point A to Point B. It must be optimized to ensure security, encourage use, promote innovation and handle the inevitable time when something goes wrong.