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Blog Post
January 19, 2023
Kenya has become a poster child for digitally driven development. Known as “Silicon Savannah,” the country has a multi-billion-dollar tech industry that routinely produces startups. Among its most prominent successes is M-Pesa. Launched in 2007, the mobile wallet service revolutionized how Kenyans t...
CGD NOTES
January 14, 2020
Financial inclusion is a fundamental pillar of development. But Mexico poses a conundrum. In many respects it has been successful at growing its economy and integrating with global markets. Yet among its peers in Latin America, Mexico is the worst-performing at financial inclusion relative to its in...
WORKING PAPERS
December 17, 2019
Onerous KYC documentation requirements are widely recognized as a potential constraint to full financial inclusion. However, it is sometimes difficult to judge the extent to which this constraint is a serious or binding one, relative to others. The paper considers this question, distinguishing betwe...
Blog Post
January 22, 2018
For the policymaker looking to improve services and the delivery of benefits, or for the financial institution trying to expand its customer base, the gap between technical solutions and the situation of the average technology user represents fertile ground for the many new opportunities that the di...
Blog Post
April 25, 2017
The informal sector is a major source of economic activity and job opportunities in poor countries as well as emerging economies. In sub-Saharan Africa, the size of the informal sector is estimated to employ over 70 percent of the population. Why do businesses remain informal? What gains i...
CGD NOTES
April 25, 2017
This work analyzes fresh data made available by updated, more comprehensive Enterprise Surveys of formal firms of various sizes and, importantly, of informal firms. It concentrates on five countries (the DRC, Ghana, Kenya, Myanmar, and Rwanda) to provide more fine-grained insights into differences i...
Multimedia
March 24, 2016
The rise of digital technology has nurtured a growing industry in financial services that benefit the poor, from mobile payments and money transfers to micro-savings and mobile-based crop insurance. But as the financial landscape evolves to include these disruptive innovations, new players and new b...
POLICY PAPERS
February 25, 2016
Recognizing the importance of financial inclusion as a policy objective, regulators have endorsed the use of a risk-based approach (RBA) towards know-your-customer (KYC) requirements aimed at strengthening financial integrity. This paper considers applications of the RBA in domestic banking, m...