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New Open Finance Guidelines Aim to Spur Financial Inclusion
A coalition of international organizations this week launched high-level guidelines for public authorities seeking to harness open finance to accelerate digital financial services and innovation and increase usage of a broader range of financial products.
Alongside investment in digital public infrastructure, and ongoing efforts to reach the 1.4 billion people globally who still do not have access to a basic transaction account, open finance can be the next frontier for the growth of the financial services industry. 76 percent of the world’s population now have access to a financial account and open finance can expand their use and increase the benefits customers derive from financial services.
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How Savings Groups Can Address Gender Inequality Through Dialogue
Unequal power dynamics and discriminatory social norms can stand in the way of women gaining full control of their financial resources. Engaging in four types of dialogue – from household to systems – can help shift these norms.
Connecting Venezuelan Migrants With the Financial System in Colombia
The Banca de las Oportunidades project, “El Parche Financiero” (“the Financial Patch”), aims to promote financial inclusion for the 100,000 Venezuelan migrants in the country.
Breaking Down Silos to Advance Financial Inclusion of Forcibly Displaced People
Coordinated efforts are needed to move from emergency response to long-term inclusion. The Community of Practice on the Financial Inclusion of Forcibly Displaced People aims to help make this happen.