Practical Insights on Digital Financial Services

digital financial services

African Digital Financial Services

Innovation in digital financial services is allowing Africans to move up the financial services value chain. From mobile money payments, customers in sub-Saharan Africa are gaining access to mobile banking and other online banking services as they open saving accounts, take out loans, purchase insurance, and invest in Government securities or in stock markets with a few touches of their mobile phone.

African FinTech Innovations

New innovations in fintech are proceeding rapidly. New technologies are being developed and implemented on the continent, and they have the potential to yield significant benefits for Africa. Recognizing this, foreign investors have stepped up their backing for African fintech firms, while those firms develop solutions adapted to the region, for example, to cater for the relatively lower internet speed in some areas. The falling price of smartphones will also help the region reap the rewards of internet-based solutions.

African Digital Financial Inclusion

In our new paper, we suggest that the challenge now is for the continent to leverage this success in mobile money. It needs to transition to other fintech services and a digital economy. Greater digital inclusion and innovation will not only spur economic growth but a growth that comes with new jobs—the number one preoccupation on a continent that will see more than half the world’s population growth by 2050.

Africa is well positioned to meet its fintech and digital challenges, and with the right policies in place, it could reap a “digital dividend.”

8 Lessons Learned Making Digital Finance Work for Women in MENA

8 Lessons Learned Making Digital Finance Work for Women in MENA

Published on: Jul 22 2020 by Guest Writer - Comments Off on 8 Lessons Learned Making Digital Finance Work for Women in MENA
Despite progress over the past few years, the Middle East and North Africa (MENA) region still has the largest gender gap in terms of women’s economic participation...
Apply Now: $100,000 for Blockchain Solutions from UNICEF Innovation Fund

Apply Now: $100,000 for Blockchain Solutions from UNICEF Innovation Fund

Published on: Jul 20 2020 by Wayan Vota - 4 Comments
Blockchain technology may have the potential to improve international development impact globally by providing information, opportunity and choice to programs....
Apply Now: $250,000 for Digital Remittance Solutions to Support Migrants

Apply Now: $250,000 for Digital Remittance Solutions to Support Migrants

Published on: Jun 01 2020 by Wayan Vota - Comments Off on Apply Now: $250,000 for Digital Remittance Solutions to Support Migrants
As the world suffers coronavirus’ socioeconomic repercussions, global remittances are slowing substantially. Countries with high COVID-19 cases host 75% of...
What Are the Top 4 Mobile Money Purchases by African Youth?

What Are the Top 4 Mobile Money Purchases by African Youth?

Published on: Jan 15 2020 by Wayan Vota - 11 Comments
Digital financial services in sub-Saharan Africa are changing rapidly with diversity in usage and uptake on such a diverse continent. Recently, GeoPoll embarked...
10 Lessons for Designing Effective Health Financing Products

10 Lessons for Designing Effective Health Financing Products

Published on: Dec 12 2019 by Guest Writer - Comments Off on 10 Lessons for Designing Effective Health Financing Products
Health shocks are the most prominent idiosyncratic shocks and stresses that low-income households face, particularly when they affect primary income earners as...
Apply Now: $170,000 to Study Digital Financial Services for Health Systems

Apply Now: $170,000 to Study Digital Financial Services for Health Systems

Published on: Sep 30 2019 by Wayan Vota - 2 Comments
Financial protection is at the core of universal health coverage and is one of the final coverage goals of the Sustainable Development Goals. Financial protection...
Apply Now: Help USAID Understand the Role of DFS in Healthcare

Apply Now: Help USAID Understand the Role of DFS in Healthcare

Published on: Jul 22 2019 by Wayan Vota - 4 Comments
About 100 million people are still being pushed into “extreme poverty” (living on $ 1.90 or less a day) because they have to pay for healthcare. Over 800 million...
Superplatforms Are Radical Change for Digital Financial Services in Nepal

Superplatforms Are Radical Change for Digital Financial Services in Nepal

Published on: Jun 27 2019 by Wayan Vota - 1 Comment
Superplatforms like Google, Facebook and Alibaba, are transforming the global financial marketplace with “big brands, big budgets and big data.” As a ‘platform...
Apply Now: £1,760,000 for Your Agriculture Technology Innovation

Apply Now: £1,760,000 for Your Agriculture Technology Innovation

Published on: Jun 24 2019 by Wayan Vota - 1 Comment
Smallholder farming is a challenging enterprise. There are around 500 million smallholder farmers in the world, and they produce up to 80% of the food consumed...
Five Ways We Should Do Development Differently in a Digital Age – Your Weekend Long Reads

Five Ways We Should Do Development Differently in a Digital Age – Your Weekend Long Reads

Published on: Jun 08 2019 by Guest Writer - 1 Comment
Caribou Digital turns five years old this year. While 2019 is a rapidly changing digital world, 2014 felt very different. Different elections, different technological...