A global convening platform on responsible inclusive finance and consumer protection in a rapidly evolving digital world.

Mark your calendars and get ready to embark on an engaging journey as we explore the frontiers of financial inclusion at the upcoming <a href="https://globalrff.org/" target="_blank" rel="noopener noreferrer">Responsible Finance Forum</a> (RFF), held in person for the first time since 2019.
This highly anticipated event will give you the chance to witness responsible finance in action, gain valuable insights on emerging risks and opportunities in the sector, and collaborate with other industry experts to co-create a digital finance ecosystem with positive consumer outcomes. We'll also be discussing some of the most pressing issues facing our industry, including the integration of consumer protection into data-driven products, the key takeaways from India's dynamic digital ecosystem, and where inclusive finance can have its greatest impact on tackling climate change.
Register <a href="https://www.eventbrite.com/e/rff-2023-shaping-a-responsible-digital-finance-ecosystem-tickets-602583622837" target="_blank" rel="noopener noreferrer">here</a>. We look forward to seeing you there.

RFF 2023: Shaping a Responsible Future for the Digital Finance Ecosystem

The December 2022 RFF virtual convening discussed the connections between responsible finance and climate change. The increasing frequency and intensity of climate shocks can adversely impact consumer finances and erode household wealth. Changing climate conditions are also creating long-term stresses and threatening livelihoods. To date, there is limited information on the consumer protection risks faced by low-income people as they navigate climate shocks and long-term financial stresses brought about by climate change.

Policymakers, investors, financial service providers, and other members of the inclusive finance community came together with three objectives:
<ol>
 	<li>To gain a richer understanding of the consumer protection risks from adverse climate events.</li>
 	<li>To examine the role of regulators, policymakers, and inclusive finance players in addressing these challenges.</li>
 	<li>To begin charting a path forward to help people build resilience to shocks and adapt to changing conditions.</li>
</ol>

RFF December 2022: Envisioning Responsible Finance in the Context of Climate Change

In June 2022, RFF convened for the first time since the pandemic began and since CFI became the convenor. The event brought speakers together from across the sector to address the question: Is innovation in financial services on a responsible path? This event report out highlights key takeaways from the June 2022 RFF convening and provides recommendations for stakeholders interested in shaping the future of responsible finance.

The Responsible Finance Forum (RFF) Begins a New Chapter

We Are All in This Together

RFF brings together a range of global stakeholders to share ideas, research, and solutions on emerging consumer risks in inclusive finance.

Join CFI and key stakeholders in inclusive finance on June 30, 2022, for an opportunity to share emerging insights and collaborate on solutions to improve risk identification and mitigation. The event is free for all to attend

This event has concluded. Visit <a href="https://globalrff.org" target="_blank" rel="noopener noreferrer">globalrff.org</a> for more information, a report, and a recording in the coming weeks.

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Responsible Finance Forum (RFF) 2022

WASHINGTON, DC, March 29, 2022—The Center for Financial Inclusion (CFI) and the International Finance Corporation (IFC) announced today the transition of the Responsible Finance Forum (RFF) convening role from IFC to CFI. The agreement to transfer RFF from IFC to CFI was signed on March 9, 2022.

RFF was created in 2009, under the leadership of IFC and other key stakeholders in the financial inclusion community to foster dialogue and collaboration among the private sector, governments, policymakers, academics, and consumer organizations. The RFF annual event provided an opportunity for a diverse set of stakeholders to share emerging insights and solutions and collaborate on initiatives to ensure responsible finance remained at the core of efforts to advance inclusive finance.

The ongoing COVID-19 pandemic, digitalization, and climate change, among other global forces, are rapidly changing the inclusive finance landscape. Based on feedback received from past, present, and future RFF stakeholders, CFI is reimagining RFF and expanding its role to tackle rapidly evolving risks faced by financial systems and low-income people. RFF will provide an agile and forward-thinking space for a wide range of inclusive finance stakeholders to share knowledge, conduct research, and engage in global dialogue to improve risk identification and mitigation.

“CFI has always been a leader in customer protection. Today, customer protection risks are not just about what happens at the business model level, but also about what happens at the market level,” said Mayada El-Zoghbi, Managing Director of CFI. “These dynamic risks and the vast range of challenges they pose for low-income customers means that we must work collaboratively. The reimagined RFF will help tackle key questions and gaps to better protect low-income and vulnerable populations.”

The complexity of the inclusive finance landscape demands an approach that can facilitate analysis and action at a rapid pace. Moving forward, RFF will expand to serve as a platform with three core functions: aggregate research across the sector and help identify emerging issues that will impact low-income customers; expand a network of partnerships that will leverage each partner’s strengths to build sectoral knowledge; and collaborate through regular convenings with the annual event as a crucial cornerstone.

“We recognize the need for the private sector, investors, and donor organizations to work together to drive critical conversations around inclusive finance risks,” said  Sharmila Hardi, a Senior Manager at IFC’s Financial Institutions Group, who leads IFC’s investments and advisory services for Microfinance, SME Banking, Gender Finance and Insurance. “As an independent think tank, CFI is uniquely positioned to serve as a neutral broker to facilitate collaboration across a diverse set of stakeholders, and we look forward to continuing to work together on these crucial topics.”

To ensure independence and a structure that encourages widespread participation from across the sector, RFF will have two levels of governance—one comprising sponsors with fiduciary responsibilities and the second comprising partners who lead thinking on responsible finance and customer protection and will assist with identifying strategic priorities and areas of focus.

“RFF presents a unique opportunity for emerging markets and developed countries to learn from one another,” said Michael Schlein, CEO of Accion. “We are thrilled that CFI will be taking on RFF and look forward to the opportunity to elevate RFF as an agile, forward-thinking platform on customer protection.”

<a href="https://centerforfinancialinclusion.us5.list-manage.com/subscribe?u=394352ae963270aef6c51680d&amp;id=dfbe84c2fb" target="_blank" rel="noopener noreferrer">Sign up to the RFF mailing list</a> to receive more information and updates on RFF.

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Please direct media inquiries to:

Lauren Braniff, CFI – <a href="mailto:lbraniff@accion.org">lbraniff@accion.org</a>

Henry Pulizzi, IFC – <a href="mailto:hpulizzi@ifc.org">hpulizzi@ifc.org</a>

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ABOUT CFI

The Center for Financial Inclusion (CFI) works to advance inclusive financial services for the billions of people who currently lack the financial tools needed to improve their lives and prosper. We leverage partnerships to conduct rigorous research and test promising solutions, and then advocate for evidence-based change. CFI was founded by Accion in 2008 to serve as an independent think tank on inclusive finance.

ABOUT IFC

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit <a href="www.ifc.org">www.ifc.org</a>.

CFI, IFC Announce Reimagined Responsible Finance Forum (RFF), Transition of Convening Role to CFI

A global convening platform on responsible inclusive finance and consumer protection in a rapidly evolving digital world 

RFF (Responsible Finance Forum)

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