cat/credit-and-financial-information
Digital lending can be a powerful force for financial inclusion. Innovations in digital lending are enabling financial service providers (FSPs) to offer better products to more underserved clients in faster, more cost-efficient, and engaging ways. Governments are increasingly incentivizing the growth of digital lending models as a way to promote greater financial inclusion and extend high-quality financial services to underserved communities and businesses.
Small- and medium-sized enterprises (SMEs) are a key contributor to economic activity around the world as an important source of jobs, growth, and innovation. Despite their essential role, SMEs receive a disproportionately small share of credit from the financial system, a trend that persists across developed and developing countries, including in Asia.
Many households and small businesses in emerging markets have no or very limited access to formal financial services. Even in developed countries, they only have access to a limited menu of cost-effective products from financial institutions for addressing their financial needs.
Since 2004, Uniglobal has been connecting microfinance institutions with investors. These forums have contributed to the securing of investments amounting to many millions of dollars.
Key questions to be addressed at the 14th Annual Global Microfinance Forum:
Mobile money systems offer a dual promise, as an engine for financial inclusion, and as an emerging markets business opportunity for providers. Two billion individuals and 200 million small businesses in emerging economies today lack access to savings and credit. Success in financial inclusion entails reaching these users with products that go beyond payments and can significantly improve people’s financial lives. Providers who can do so profitably can tap into huge and largely untouched markets.
Enrique Velasquez, the new ACCIS Secretary General, shared their manifesto on big data and fintech. His highlights are below:
"These are our industry's key requests to policy-makers:
A new nationally representative phone survey conducted by CGAP in Tanzania examines whether the digital credit phenomenon is living up to this hype. They interviewed more than 4,500 Tanzanians, including 1,132 digital credit users, to understand who is using digital credit, how it fits into borrowers’ portfolios, and what risks are emerging. Their findings suggest that while borrowers are using digital credit to meet everyday needs, few turn to it for emergencies.
Women-led businesses are an important vehicle for enhancing women’s economic opportunities and agency, and often lead to poverty reduction and economic growth.
It takes more than one organization to advance development. That’s why Multilateral Development Banks are joining forces to support and strengthen private sector investments in developing countries across the globe.
The 2016 Financial Inclusion Insights team examined high-level numbers and dug deeper into the 2016 data, they identified several other important takeaways regarding the evolution of financial inclusion in Kenya:
