Digital financial services have contributed to the expansion of financial inclusion in the last decade,…
Regulation
Are the Effects of Mobile Money Regulation Gender Neutral?
According to the latest Global Findex data (2017), there are 1.7 billion ‘unbanked’ people in…
Financial Inclusion, Regulation and Financially Empowering Africa with Nolwazi Hlophe
Nolwazi Hlophe from the Digital Frontiers Institute talks about financial inclusion, connecting Africa to the world through…
Digital Credit Regulation in Tanzania
This case study highlights some key factors that can contribute to the development of responsible digital credit…
Inside the Regulatory Sandbox: Effects on Fintech Funding
The rise of fintechs promises to spur competition in the financial sector. This could lead…
Consumer Protection and COVID-19: Borrower Risks as Economies Reopen
Credit, if managed responsibly, can help financial services providers (FSPs) and their lower income customers…
Open Banking: How to Design for Financial Inclusion (Webinar)
Opening banking regimes free up the troves of customer data locked inside banks, allowing competitors…
Tracking Mobile Money Regulatory Responses to COVID-19 – Part 2
This blog, provides an update of the COVID-19 Response Tracker and examines the impact of…
Why the Economic Response to COVID-19 Needs to be Financially Inclusive and Gender Sensitive
The Special Report highlights key gender-related issues facing society during the COVID-19 pandemic and some…
Payment Aspects of Financial Inclusion: Application Tools
This report by BIS follows the publication of Payment aspects of financial inclusion (PAFI) in 2016…
How to Build a Regulatory Sandbox: A Practical Guide for Policy Makers
Regulatory sandboxes have attracted significant attention for their potential to empower financial regulators struggling with…
Identity Proofing for COVID-19 Recovery
In order to address the systemic as well as the immediate challenges associated with COVID-19,…
De-risking in Africa: Illicit Financial Flows and Regional Economic Hubs
This two-note series from The Centre for Financial Regulation and Inclusion, highlights the relationship between…
Global Microscope 2019: The Enabling Environment for Financial Inclusion
The Global Microscope for Financial Inclusion, now in its 12th year, is a benchmarking index…
SDGs & Socially Responsible Finance (SRF) – Case Studies from Selected AFI Members
This case study examines the role of financial institutions in achieving the UN SDGs through socially…
Inclusive Tech: Overcoming Barriers to Scale in Emerging Markets
Technology undoubtedly has the potential to improve the access, quality and relevance of financial services…
KYC Innovations, Financial Inclusion and Integrity in Selected AFI Member Countries
It is estimated that approximately one billion people across the world do not have access…
Policy Framework for Leveraging Digital Financial Services to Respond to Global Emergencies – Case of COVID-19
The global pandemic COVID-19 and the ensuing emergencies have reinforced the urgency of using Digital…
Regulating Financial Services in an Era of Technological Disruption
Financial regulators are challenged to respond to the innovation opportunities presented by financial technology (fintech).…
Ghana’s Digital Financial Services Policy
Ghana became the first country to launch a digital financial services (DFS) policy. While the…
Golbal Dialogue on Regulatory Approaches for Inclusive FinTech
Financial policymakers and regulators in emerging and developing countries are mindful of the potential that…
Mobile Money Regulatory Index
The Mobile Money Regulatory Index measures regulatory enablers of mobile money adoption. It has been…
The Mobile Money Regulatory Index
In September 2018 GSMA launched the Mobile Money Regulatory Index, an interactive tool that measures…
Fair Play: Ensuring Competition in Digital Financial Services
In many emerging economies, digital financial services markets are limited to one or two major…
Cyber Security in Financial Sector Development: Challenges and Potential Solutions for Financial Inclusion
This paper assesses the relevance of cyber security for the development of inclusive financial systems…
Fair Play: Ensuring Competition in Digital Financial Services
In many emerging economies, digital financial services markets are limited to one or two major…
Fintech Development and Regulatory Frameworks in Indonesia
This paper from the ABDI Institute showcases the growth as well as the challenging factors…
The Fintech Landscape in Rwanda
This report by UNCDF provides findings and proposed recommendations from an assessment of the fintech…
Doing Business 2020
The Doing Business 2020 study shows that developing economies are catching up with developed economies…
Examining the financial regulation of consumer-facing fintech in India
The excitement around fintech in India is palpable. This enthusiasm can be attributed to fintech’s…
Policy Model for E-Money
AFI network’s knowledge and experience in applying various e-Money policies and regulatory approaches have had…
Risk-Based Customer Due Diligence: Regulatory Approaches
Regulators face a challenge in balancing policies on anti-money laundering and combating the financing of…
Global Microscope 2019: The Enabling Environment for Financial Inclusion
Regulators play a significant role in catalyzing or impeding a country’s progress toward financial inclusion.…
Impact of Digital Finance on Financial Inclusion and Stability
This article provides a discussion on some issues associated with digital finance – an area…
Sustainable finance in emerging markets and the role of securities regulators
During the past several years, market participants, regulators and policy makers have increasingly focused their…
State of practice: Savings groups and the role of government in sub-Saharan Africa
In recent years, governments across sub-Saharan Africa have deepened their engagement with savings groups, recognising…
Regulating for innovation: an evolving framework
This focus note from Cenfri aims to equip regulators with a decision framework that illustrates…
Responsible Digital Credit
This report from Centre for Financial Inclusion outlines the digital credit landscape and the risks customers…
Cloud Computing for Financial Inclusion: Lessons from the Philippines
Earlier this year, Cantilan Bank became the first financial institution in the Philippines to fully…
Suptech Applications for Anti-money Laundering
Suptech, or the use by financial authorities of data collection or advanced data analytics tools…
Beyond KYC Utilities: Collaborative Customer Due Diligence
The private and public sectors are increasingly leveraging new technologies to deliver collaborative approaches for…
Cybersecurity Guideline for Payment Service Providers
The Cental Bank of Kenya has developed a Cybersecurity Guideline for Payment Service Providers (PSPs).…
Inclusive Digital Financial Services: A Reference Guide for Regulators
The Bill & Melinda Gates Foundation’s Financial Services for the Poor Program (FSP) believes that effective financial…
Artificial Intelligence in Financial Services
Very few technologies have captured the popular imagination like Artificial Intelligence (AI). It has become…
The Rise of Digital Money
This paper by the IMF offers a conceptual framework to categorize new digital monies, identify some of…
LISTEN NOW: Libra – what’s behind the hype?
Libra…… everyone in our community is talking about it. Some enthusiastic for the changes it…
Libra – what’s behind the hype?
The announcement about the new global currency, Libra, has seen a frenzied response across the…
LISTEN NOW: The FinTech Stack
In this exclusive webinar, Ignacio Mas, Co-Founder and Executive Director of Digital Frontiers Institute (DFI), …
Inclusive Digital Ecosystems of the Future
In this white paper, Inclusive Digital Ecosystems of the Future, by FIBR (partnership between BFA…
The Jordan Landscape – A Situational Analysis
Financial inclusion in Jordan has increased from 24.6% in 2014 to 33.1% in 2017. 13.2%…
LISTEN NOW: The rise of digital superplatforms
Presented by David Porteous, this webinar tells the story of the rise of digital superplatforms…
Payments study tour report
Broadening financial inclusion has been a social, economic and political priority in South Africa since…
Illicit Financial Flows: A Financial Integrity Perspective
Addressing Illicit Financial Flows (IFFs) is a target in the Sustainable Development Goals (SDGs). This…
Central Banks and Distributed Ledger Technology: How are Central Banks Exploring Blockchain Today?
The World Economic Forum have produced a white paper which explores globally which central banks…
The Jordan Landscape – A Situational Analysis
Financial inclusion in Jordan has increased from 24.6% in 2014 to 33.1% in 2017. 13.2%…
How the EU’s PSD2 open banking challenge could shape global regulations
As of Friday 14 March, payment service providers within the European Union have to comply…
Mystery Shopping for Digital Financial Services: A Toolkit
This toolkit was developed with funding from the Bill & Melinda Gates Foundation, in partnership…
Payment Systems in Sub-Saharan Africa
Cenfri explored national and regional payment systems in sub-Saharan Africa, and produced a two-part series…
FinTech in Sub-Saharan African Countries : A Game Changer?
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa.…
Early Lessons on Regulatory Innovations to Enable Inclusive FinTech
The United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGA) published a report…
Report on Financial Inclusion Development in China 2018
CAFI, a Chinese think tank at Renmin University, publishes an annual review of financial inclusion…
A Regulatory Diagnostic Toolkit for Digital Financial Services in Emerging Markets
Digital financial services (DFS) are growing at a rapid rate and provides the opportunity to…
State of Practice: Savings Groups and the Role of Government in Sub-Saharan Africa
Savings Groups are community-based financial service providers that deliver basic financial services to millions of…
Global Payment Systems Survey (GPSS)
The World Bank’s Global Payment Systems Survey (GPSS) surveys national and regional central banks and…
Global Microscope 2018: The Enabling Environment for Financial Inclusion and the Expansion of Digital Financial Services
The 2018 Global Microscope shows countries in Latin America and Asia have the most conducive…
Private Sector Digital Identity in Emerging Markets
Identity has always been a complicated subject, as we are seen to have multiple facets…
Customer-Centric Guide
The CGAP Customer-Centric guide explores retention, acquisition, and expansion of product use by customers, making recommendations on…
What is the role of insurance regulators in dealing with consumer data protection risks arising from increased data availability and usage?
Across the globe industries, businesses are collecting, storing and using increasing amounts of consumer data.…
Payment Systems Worldwide- A Snapshot 2018
Payment systems and remittances represent the foundations of financial sector stability and financial inclusion. Payment…
Toward Universal Financial Inclusion in China : Models, Challenges, and Global Lessons
China has achieved remarkable success in financial inclusion. China’s rate of account ownership – a…
Technologies of Compliance: Risk and Regulation in a Digital Age
Legal scholarship has been silent about a phenomenon with profound implications for governance: the automation of…
Basic Regulatory Enablers for Digital Financial Services
Digital financial services (DFS) differ from traditional financial services in several ways that have major…
Using Trusts to Protect Customers’ Mobile Money Funds
Mobile money is a payment and storage service that uses ‘e-money’—a form of stored value…
Protecting Customers’ Mobile Money Funds in Civil Law Jurisdictions
This briefing note explores how regulators can protect such customers’ funds from loss in a…
Report from the Commission to the European Parliament and the Council
This Report from the Commission to the European Parliament and the Council is on the…
FATF Guidance on AML/CFT Measures and Financial Inclusion, with a Supplement on Customer Due Diligence
The FATF recognises that applying an overly cautious approach to anti-money laundering and countering the…
Applying the RIA Lite Methodology: An Example from Pakistan
There is growing interest in understanding the impact of regulatory changes on financial inclusion. While…
De-Risking and the Great Unbanking Challenge
This article by Hugo Cuevas-Mohr, is a broad view of de-risking, his opinions on some…
From FinTech to TechFin: The Regulatory Challenges of Data-Driven Finance
Financial technology (‘FinTech’) is transforming finance and challenging its regulation at an unprecedented rate. Two…
Deploying Regtech Against Financial Crime
This report, written in cooperation with the IIF Regtech Working Group, looks at the potential…
Turning the Revised Payment Services Directive into Digital Opportunity
In this note, Capgemini explores the business risks and opportunities for banks arising from the…
Banking Bitcoin-Related Businesses: A Primer for Managing BSA/AML Risks
To date, much of the attention directed toward Bitcoin has focused on its use as…
Digital Payments 2020: The Making of a $500 Billion Ecosystem in India
The global payments landscape is evolving at a dizzying pace. The last twelve to eighteen…
Regtech In Financial Services: Technology Solutions For Compliance And Reporting
“Regtech” is “the use of new technologies to solve regulatory and compliance requirements more effectively…
RegTech is the new FinTech. How agile regulatory technology is helping firms better understand and manage their risks
Regulation is one of a number of services to receive the “Tech” treatment in recent…
India’s Botched War on Cash
India is in the throes of an unprecedented social experiment in enforced digital disruption, and…
Principles for the Management of Credit Risk
Credit risk is most simply defined as the potential that a bank borrower or counterparty…
Mobile-Enabled Cross-Border Payments
This guideline note from afi begins with a brief description of four different mechanisms for…
Mobile Payments Infrastructure Access and Its Regulation: USSD
This working paper from CGAP explores the mobile payments infrastructure and regulation, the impact on…
Global Standard-Setting Bodies and Financial Inclusion: The Evolving Landscape
This second whitepaper from GPFI builds on the considerable progress in recent years in integrating…
Competition in Mobile Financial Services Lessons from Kenya and Tanzania
Mobile financial services (MFS) are the main drivers of financial inclusion in many developing countries;…
Consumer protection in SADC
Consumer protection legislation and institutional arrangements differ across countries and there is no single or…
Mobile Money Regulation: Is more regulation better?
This presentation by the GSMA looks at the role of regulation and its influence on the…
Enabling Mobile Money Policies in Kenya: Fostering a Digital Financial Revolution
This case study from the GSMA traces the early stages of mobile money development in…
Proportional risk-based AML/CFT regimes for mobile money: A framework for assessing risk factors and mitigation measures
This publication from GSMA aims to help regulators understand the risks posed by mobile money…
Mobile Money: Methodology for Assessing Money Laundering and Terrorist Financing Risks
Mobile money services are currently being deployed in many markets across the world. There is…
Understanding Financial Regulation And How It Works
This paper from GSMA gives an overview of financial regulation including AML and KYC in…
Safeguarding Mobile Money
This paper from the GSMA focuses on how regulators can effectively safeguard customer funds when…
A Guide to Regulation and Supervision of Microfinance
Most policy makers, donors, and private investors involved in microfinance now appreciate that poor and…
Regulatory Options to Curb Debt Stress
This focus note from CGAP explores policy and regulation proposals for curbing debt stress. It…
Designing Disclosure Regimes for Responsible Financial Inclusion
In East Africa, a microborrower who goes to pay off his loan early is surprised…
Supervision of Banks and Nonbanks Operating through Agents
To date, limited research has been undertaken about how providers identify, classify, and manage risks…
Diagnostic Report on the Legal and Regulatory Environment for Branchless Banking in El Salvador
These notes offer details on CGAP’s findings and recommendations as a result of a branchless…
Regulation of Branchless Banking in Brazil
This update of CGAP’s 2008 “Notes on Regulation of Branchless Banking in Brazil” incorporates research…
Digital Financial Inclusion- an ICT perspective
Mobile financial services have become an important driver of financial inclusion in a growing number…
Promoting Competition in Mobile Payments: The Role of USSD
This Brief from CGAP outlines why USSD is important for mobile payments and highlights the…
Regulating New Banking Models that can bring Financial Services to All
Technology, and in particular the spread of real-time communications networks, permits banks to delegate ‘last…
Consumer Data Privacy in a Networked World: A Framework for Protecting Privacy and Promoting Innovation in the Global Digital Economy
The existing framework in the United States effectively addresses some privacy issues in our increasingly…
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) Cooperative Governance for Network Innovation, Standards, and Community
This book traces the history and development of a mutual organization in the financial sector…
The Great Competition and Innovation Deficit
In this thoughtful and provocative blog post, Ignacio Mas lays down a series of challenges…
Introduction to the National Payments System
The National Payments System (NPS) controls how participants at all levels — from the person…
Financial Regulations for Improving Financial Inclusion
Poor regulation is one of the major obstacles to financial inclusion. Others include lack of…
Balancing Financial Integrity with Financial Inclusion: The Risk-Based Approach to “Know Your Customer”
Recognizing the importance of financial inclusion as a policy objective, regulators have endorsed the use…
Digital Financial Services Regulatory Handbook
This handbook has been designed to assist those responsible for regulating and supervising the use…
Doing Digital Finance Right: The Case for Stronger Mitigation of Customer Risks
This Focus Note explores consumer risk in digital finance—particularly through the lens of lower-income and…
Immigrants From Latin America and Africa Squeezed as Banks Curtail International Money Transfers
This article examines the impact of banks in the United States abandoning the business of…
Developing and Implementing AML/CFT Measures Using a Risk-Based Approach for New Payments Products and Services
This paper analyses and explains FATF’s Risk-Based Approach (RBA) for new payment methods to support…
Mobile Financial Services Consumer Protection in Mobile Financial Services
This guideline note was developed by AFI’s Mobile Financial Services Working Group’s (MFSWG) Consumer Protection…
Global Standard-Setting Bodies and Financial Inclusion for the Poor Toward Proportionate Standards and Guidance
Together, the normative standards and advisory guidance of the Basel Committee on Banking Supervision (BCBS),…
Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion
The FATF has prepared a Guidance paper to provide support to countries and their financial institutions…
Regulating Transformational Branchless Banking: Mobile Phones and Other Technology to Increase Access to Finance
This paper discusses issues related to regulation of branchless banking targeting the unbanked poor. Based…