Inclusive Finance Frontiers, a Podcast by CGAP
Globally, 1.4 billion people don't have a bank account, let alone other financial services that many of us take for granted. But digitization and innovation are reshaping financial services and creating new opportunities to build a greener, more resilient and equitable world. New solutions and approaches are improving financial inclusion, bringing low-income and underserved people into the formal financial sector and improving their lives.
Join us to hear from a wide range of technical experts, thought leaders, and financial service users as we explore new trends, controversies, and developments in inclusive finance.
Season 2
Acknowledgments:
Season 2 was created by Lamis Daoud and Jahda Swanborough from CGAP with valuable input from various CGAP colleagues and is a production of the World Bank’s Interactive Media Program, with special thanks to Samantha Malhotra.
Climate change, poverty, inequality, and conflict challenge progress, with 7% of the population expected to live in extreme poverty by 2030. Yet, financial innovation and digital economies offer hope. Inclusive financial services can empower women, youth, and entrepreneurs and the digital economy can open various doors. Tune in as we uncover how responsible inclusive finance can – and already is – contributing to a green, resilient and equitable world for all.
For those on the front lines, grappling with climate change is a daily struggle for survival. In this episode, we travel to Bangladesh to speak with two farmers who are fighting to protect their homes and livelihoods from storms, flooding, and rising sea levels. We also hear from MicroSave Consulting and CGAP about the potential role financial tools can play in bringing hope, resilience, and lasting change to climate-vulnerable communities.
Micro-retailers that stock fast-moving consumer goods are universally cherished. And yet, they face numerous unique challenges. B2B e-commerce startups are promising to make a difference for these micro-retailers by digitizing order processes and extending buy-now-pay-later credit options. But challenges remain: How do we bridge the digital divide, and can these systems sustainably scale? How promising is this digitization wave in creating meaningful financial inclusion for micro retailers at the last mile?
Open Finance allows people in Brazil to securely share their financial data across financial service providers, sparking competition and innovation among providers. This empowers customers to compare and choose services that best meet their needs. But how does open finance work in practice and can it help reduce inequality and advance financial inclusion? What lessons can other countries learn from Brazil’s rapid adoption?
AI is already transforming almost every aspect of the financial services industry. It is driving efficiencies and sparking innovation by reshaping the way financial authorities protect consumers—not just how financial service providers operate. But financial authorities need to walk a tightrope to harness the power of AI to improve consumer protection, while also addressing the novel risks and challenges that AI brings, such as new forms of financial fraud.
Season 1
Acknowledgments:
This podcast was created by CGAP’s podcast production group (Andrew Johnson, Lamis Daoud, Jahda Swanborough, Peter Zetterli, Yasmin Bin-Humam, Sai Krishna Kumaraswamy and Gcinisizwe “Sizwe” Mdluli), and is a production of Volubility Podcasting.
What is the frontier of financial inclusion? There is a geographical frontier: people in rural areas are more often financially excluded. There is a technological frontier in the form of a digital divide. But there’s also a social frontier, often appearing through social norms that dictate who can, and can’t, use financial services. What can we learn from Women’s Micro Bank in Papua New Guinea which used biometric technology to push geographical, technological and social boundaries?
The spread of digital technology and infrastructure has given rise to fintech, but it’s also driven the popularity of non-financial services like social media apps, gig platforms, and e-commerce sites. “Embedded finance” refers to the integration of financial tools into this growing array of services. What forms will embedded finance take in the future? What are the biggest opportunities and risks and what players are driving it in different regions?
Typhoon Rai made landfall in the Philippines in December 2021, killing over 400 people and causing over US$1 billion in damage. With such extreme weather events becoming more common due to climate change, financial services can make households more resilient and adaptive. What is the role of insurance and other financial services in climate change mitigation and adaptation?
The wide reach of digital financial services can unlock life-changing opportunities for low-income consumers. But here’s a little secret about these digital services: their current ability to attract and serve new users largely depends on the expansion of old-fashioned physical interaction through agent networks, which is crucial in cash economies. In this episode, we explore the latest advances in agent networks and what they mean for the future of inclusive finance.
Central banks have been eying the emergence of privately issued digital currencies with a mix of excitement and anxiety, and some began experimenting with central bank digital currencies (CBDCs). Some advocates say CBDCs will help central banks advance financial inclusion. But are CBDCs really a game-changer for financial inclusion?
Past Podcasts
CGAP's privacy and consumer financial services expert David Medine discusses the risks that millions of low-income consumers face in developing countries as they start using digital financial services
What must providers do differently to make digital payments work better than cash for merchants and their customers? Peter Zetterli’s search for an answer led him to a surprising question: What if trying to be better than cash is the wrong approach?