The Alliance for Financial Inclusion (AFI) recently launched an interesting report “Fintech for Financial inclusion: a Framework for Digital Financial Transformation” on how developing and emerging markets can increase financial inclusion and economic development through fintech. Even though I thought the title was promising more than the report could offer, I thought it had interesting ideas and let me sharpen my conceptual thinking about the use of technology to increase financial inclusion.
Specifically does the report present four pillars providing – together with a conducive enabling policy and regulatory environment and supporting infrastructure – a foundation for an evolving digital financial ecosystem. These pillars are poised to help countries maximize the benefits from financial inclusion. They are interdependent but still reinforce each other: Continue reading