Topics
- Data Transparency
- Digital Transformation
- Enabling Environment
- Governance
- Policy, Regulation and Government Initiatives
- Responsible Data Practices
Regions
The ability to exchange a wide range of data about consumers, SMEs, and their activities can enable financial institutions to design more efficient and personalized services, positioning data exchange as a key driver of future financial inclusion efforts. These companion reports analyze the current state of data exchange in four leading markets — Brazil, the EU, India, and Singapore — highlighting their innovative approaches and the practical challenges they face during implementation. While there are many opportunities, the key barriers to data exchange include incentivizing incumbent banks, fostering a competitive ecosystem for third-party providers, ensuring interoperability, preventing data silos, and building trust through transparency and robust governance.
The main report offers the unique realities of implementing data exchange practices after the first few years and the barriers and opportunities that arise therein. By focusing on real-world application and policy choices, this report provides practical examples and emerging approaches to overcoming implementation challenges in data exchange frameworks. The accompanying report on market deep dives is a companion reading that provide more detailed case studies from Brazil, the EU, India, and Singapore that highlight diverse approaches to financial inclusion, data sharing, and protection policies, offering insights for emerging and developing economies. It reviews new and alternative data sharing arrangements, moving beyond traditional credit reporting to explore multilateral, government-led, market-led, and decentralized ecosystems aimed at broadening data access and usage.
The authors extend their sincere gratitude to the Bill and Melinda Gates Foundation for their generous support of this project. We are particularly thankful to Ariadne Plaitakis and Hillary Miller-Wise for their invaluable guidance throughout the process.