AVLInclusive fintech has always had to find a balance between tech and human touch, but the global pandemic is shifting that balance, writes Accion Venture Lab’s Amee Parbhoo. In this blog, Parbhoo writes that during this time, fintechs have to continuously engage and support their customers especially low-income communities for whom in-person interactions are the
FIBRAs the economic effects of the lockdowns worldwide begin to solidify, businesses large and small are collapsing, write BFA Global’s Coco Dong and Michelle Hassan. In Kenya and China, small and medium enterprises are struggling to stay afloat. Given the difficulty in accessing government support, many owners have found their own solutions to stay in
CGAPAccording to UNHCR estimates, there are 70.8 million Forcibly Displaced Persons (FDPs) worldwide. The global COVID19 pandemic will have severe effects on not just their health but also on their ability to meet their most basic needs. In this timely blog, the authors call for a coordinated global response that ensures that the FDPs have
CGAPSenior financial sector specialist Stefan Staschen makes a strong case for open banking in emerging markets and why it would be important especially today in a COVID-19 world. Open banking, he writes, could advance financial inclusion in emerging markets by dealing with some of the pain points related to spending, savings, and credit, usually experienced
AVLAccion’s work to build inclusive, resilient communities through access to quality financial services, including credit, savings, and insurance, is more critical than ever. Accion continues to support its partners who are now rapidly adapting to meet new needs arising from the COVID-19 pandemic. But, more help is still needed. Donate to support Accion to continue
CGAPCGAP is refocusing its work on the ongoing COVID-19 crisis and in particular, paying special attention to four areas that play a vital role in furthering financial inclusion. These four include the MFI sector; distribution and government-to-person payments; understanding the impact on customers; and guidance for funders and investors. As part of its strategy, CGAP
CGAPWhat questions should policymakers consider to ensure agents reach as many people as possible with assistance during and after the COVID-19 crisis? CGAP notes that of all existing cash-in and cash-out (CICO) networks the most far-reaching among low-income customers — agent networks — are struggling and often are overlooked by policymakers. CGAP lists three questions below
FIBRCatalyst Fund shares several examples of how its portfolio are helping customers in emerging economies through the COVID-19 crisis. By using their existing solutions and additional innovations, the fintechs are helping people access critical health insurance, send money to their families, access essential goods and services, and better manage current finances via financial advice. In
FIBRIndia should invest and expand the digital payment and commerce network and use it to facilitate social distancing and quarantine, the authors argue. The ongoing lockdown aimed at curbing the spread of the Coronavirus has affected various supply chains, disrupting both business and life leading states to adopt tech-enabled distribution. However, the authors write that
FIBRAt the end of March, BFA conducted a rapid assessment of the impact of COVID-19 on the livelihoods of people in seven countries- Kenya, Nigeria, South Africa, Mexico, India, UK, US. The survey found that low-income and lower-middle-income families are experiencing a decrease in income, with a significant decrease recorded for Kenya, Mexico, and South