Anti-Money-Laundering (AML) & Countering Financing of Terrorism (CFT) Risk Management in Emerging Market Banks

For banks in emerging markets, the regulatory landscape is more complicated than ever. Rules  designed to fight money laundering and root out terror finance have made the financial system safer  and more resilient but have also increased the cost and complexity of doing business in developing countries—with negative consequences for cross-border trade and the networks that link local commerce with the global financial system.  In response, many global banks operating in emerging markets have simply withdrawn correspondent banking services—everything from making wire transfers to accepting deposits to receiving documents on behalf of other banks.  Local emerging market banks need help

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Categories: AML-CFT, Regulation of DFS, and Resources.

Transition from Switch to the League of Digital Finance Professionals

Earlier this year, DFI decided to move from using our sister platform to campus – Switch, with the aim of increasing interaction, collaboration and learning. At the end of March, we launched the League of Digital Finance Professionals, a global moderated CoP, on LinkedIn. We now have almost 600 members of the group, with members sharing, commenting and liking posts within the group. Looking at a 6-day snapshot in June, we had 26 posts on 15 DFS related topics, which had 71 likes and 25 comments. Our most active post had  14 likes and 8 comments. The topics discussed include:

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Categories: Blog and Insights.

FinTech: The Experience So Far

The Bali Fintech Agenda (BFA) was approved last year by the IMF and World Bank Group. It lays out key issues to consider in how technological innovation is changing the provision of financial services with implications for economic efficiency and growth, financial stability, inclusion, and integrity. In approving the BFA, IMF Executive Directors asked staff to review fintech developments and consider their implications within the mandates of the IMF and the World Bank. This paper responds to this call and takes stock of country fintech experiences and identifies key fintech-related issues that merit further attention by the membership and international bodies. This paper, prepared by World Bank and

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Categories: Resources, Technology and FinTech, and Technology and operational enablers.

A Gender-Inclusive Southeast Asia through Entrepreneurship

This report, commissioned by the Sasakawa Peace Foundation (SPF), and developed by Dalberg Advisors, looks at changing the lives of women through entrepreneurship. While many development indicators demonstrate that the lives of women in Southeast Asia have improved drastically, endemic problems continue to keep women from fulfilling their potential. Over 70% of women remain employed in the informal sector, one in three women are victims of intimate partner violence, and many rural areas lack access to critical maternal healthcare. These challenges slow the region’s progress towards meeting the 2030 Agenda for Sustainable Development. They are also too deeply entrenched in Southeast Asian society to be resolved by any single

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Categories: Customer and uses of digital payments, Gender, and Resources.

Women’s Digital Financial Inclusion in Africa

This report prepared at the request of the G7 French Presidency, is a blueprint for closing that gap of 400 million and creating a world that is both more prosperous and more equal for everyone. This year, the French Presidency of the G7 chose a theme based on a big, bold, important idea: fighting inequality. Like most ideas, though, it is abstract. Digital financial inclusion is a practical strategy for helping the marginalized move toward the center. In short, what you are about to read amounts to a practical plan for equality that we can start implementing right away. The report draws on the lessons The gates Foundation has learned

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Categories: Customer and uses of digital payments, Gender, and Resources.

Community of Practice Conference 2019

DFI has 16 active Communities of Practice (COPs) around the globe who are meeting regularly to discuss digital finance and financial inclusion. Approximately 45% of our alumni are based in these cities and have the opportunity benefit from COPs. COPs are an essential part of DFI’s capacity building approach and from our analysis we know that: There is a statistically significant connection between attendance at COPs and pass rate and final points score when studying the Certificate in Digital Money and Leading Digital Money Markets courses. Students find COPs very useful for networking, learning, problem-solving and confidence building Around 80%

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Categories: Blog and Insights.

Operations assessment and impact evaluation of Program Keluarga Harapan (PKH)

Microsave Consulting did an impact evaluation of the PKH conditional cash transfer program, one of the largest social assistance programs in Indonesia and managed by the Ministry of Social Affairs which has been operational since 2007. The objective of the study was to give a snapshot of the implementation of the program and to evaluate the outcomes of key health-seeking and education indicators of beneficiaries. MSC adopted a modified Regression Discontinuity Design to measure the outcomes in the absence of baseline evaluation data. The primary data was collected in 15 provinces across 60 sub-districts. The sample consisted of 1467 beneficiaries of PKH,

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Categories: Customer and uses of digital payments, Digitalising government payments, and Resources.

API Pricing for Digital Financial Service Providers: Getting Started

Digital financial services (DFS) providers face several challenges when developing pricing strategies for open application programming interfaces (APIs). They must balance their own business objectives, including the need to achieve a return on investment, with the needs of API consumers to experiment and learn as they build and grow their businesses. This guide from CGAP aims to help DFS providers navigate these challenges and devise pricing strategies that do the following: • Support the DFS provider to achieve specific business objectives • Generate business value for each target API consumer segment • Align with (or modify) prevalent market expectations and norms for pricing  

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Categories: Resources, Technology and FinTech, and Technology and operational enablers.

Leveraging Technologies to Improve the Quality and Maximize the Productivity of Agent Models

Despite the growing volume of agents, the agent network model is rife with utilization and operational challenges. This brief from CFI examines the role of technological innovation as a potential driver for improving the quality and maximizing the productivity of agent models. Despite the growing volume of agents, the agent network model is rife with utilization and operational challenges. The good news is that technology offers financial institutions an opportunity to make agent models more efficient and productive for themselves and their customers. Based on in-depth interviews with industry experts and senior bank officers, and supplemented by a review of

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Categories: Resources, Technology and FinTech, and Technology and operational enablers.

How we can save (for) our future

The challenges to provide ageing populations with a financially secure retirement are well known. Recent trends in retirement system design and changing workforce dynamics mean individuals are taking more responsibility and risk to achieve adequate incomes in retirement. At the same time, many individuals do not have easy access to retirement savings vehicles. Society must ensure retirement systems are inclusive and sustainable, and provide adequate income for all. Achieving this balance is challenging but lessons can be learned from successful systems around the world. This White Paper by World Economic Forum has been produced as part of the World Economic Forum Retirement Investment Systems Reform project,

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Categories: Customer and uses of digital payments, Microfinance, savings and insurance, and Resources.