Fish bazaar | Photo by Md. Mahabub Hossain Khan, 2016 CGAP Photo Contest Photo by Md. Mahabub Hossain Khan, 2016 CGAP Photo Contest

Business and Markets

Banks going digital. Tech giants integrating payments into their platforms. Off-grid solar companies offering mobile education loans. Every year, the digital economy is spurring new business models and attracting a wider range of players to the financial services industry, including non-traditional actors like fintechs and social networks. This diversity of providers and business models has enormous potential to advance financial inclusion and contribute toward achieving the Sustainable Development Goals (SDGs). CGAP’s research sheds light on promising business models that leverage digital technologies to design and deliver financial solutions for low-income customers. Our work also demonstrates how increased connectivity, facilitated by tools such as interoperable payments schemes and open APIs, can make it easier for innovators to offer useful, affordable financial solutions. 

By developing business models that leverage digital technology and by building the right connectivity through strategic partnerships, financial services providers can sustainably reach more low-income consumers with useful financial solutions.  

Latest Research


Is Data Privacy Good for Business?

Do poor customers value data privacy? Six experiments in India and Kenya indicated they do and are willing to pay for it. For providers, this suggests that offering products with privacy and protection features can give them a competitive market edge.

Fair Play: Ensuring Competition in Digital Financial Services

In addition to the behavior of market actors, regulation can have a substantial impact on the dynamics of competition in digital financial services markets. CGAP examines some regulatory levers that policy makers can deploy to promote more competition in emerging economies.

India's New Financial Infrastructure

Latest Blogs


Zoona Is Putting APIs at the Core of Its Business: Here’s Why

What began as a side project has become central to Zoona's plans for growth. In this blog post, Zoona executives Brett Magrath and Bridgid Thomson discuss the importance of APIs at the company.

Smart Phones, Smart Partners: Linking Asset Finance and Microfinance

One company offers microcredit. The other offers PAYGo financing for smartphones, tablets and solar home systems. In what may be a template for other microfinance institutions, they are helping each other to reach more low-income customers.

A Vision for Collaborative Customer ID Verification in Africa

Technology has the capacity to improve financial inclusion in Africa, but this value can be unlocked only if African leaders reduce the burden of customer ID checks.