Guide to Financial Consumer Protection in the Digital Era

Categories : Consumer protection, Regulation of Digital Financial Services


Financial services are evolving rapidly, with a growing array of new technologies, unconventional providers, and innovative combinations of financial and non-financial services. While this evolution can help enhance financial inclusion for women, low-income, and vulnerable consumers, it also brings greater risks.

This report gives evidence that digital finance consumer risks, such as data protection risks, have increased in several markets over the last few years. Crises such as the COVID-19 pandemic exacerbate these risks, as vulnerable groups are more fragile due to economic hardship.