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Cloud Computing for Financial Inclusion: Lessons from the Philippines

Earlier this year, Cantilan Bank became the first financial institution in the Philippines to fully leverage cloud computing technology. After an 18-month pilot the rural bank transferred its core banking services and data onto a community cloud service.  This milestone was the result of a cautious but forward-looking application of the Central Bank’s “test-and-learn” approach to financial sector innovations. This informative blog from CGAP explores the lessons for regulators in other emerging markets where financial services providers are looking at cloud computing as a way to improve data security, reduce costs and grow their businesses, thereby contributing to financial inclusion.

CGAP is a global partnership of more than 30 leading development organizations that works to advance the lives of poor people through financial inclusion. Using action-oriented research, we test, learn and share knowledge intended to help build inclusive and responsible financial systems that move people out of poverty, protect their economic gains and advance broader development goals. We research and experiment to achieve proof of concept and extract lessons that can be built to scale by our partners, who apply our insights in the marketplace.

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