The Building Blocks Supporting Open Finance
There are two billion low-income customersin low- and middle-income countries who are digitally included, meaning theyhave digital data trails that can be leveraged for the design and delivery ofbetter financial services. Yet one-third of those people remain financiallyexcluded (unserved), and many more remain underserved. In this workingpaper by the
Consultative Group to Assist the Poor, Ivo Jeník, RafeMazer, and Maria Fernandez Vidal introduce the concept of an inclusive dataecosystem in which low-income people’s data trails are used to improve theirfinancial inclusion. They highlight open finance as a catalyst for inclusivedata ecosystems and identify key enabling layers that drive the success of openfinance and, by extension, an inclusive data ecosystem.
https://www.cgap.org
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