Join us for a virtual event focusing on our report, Accelerating Financial Inclusion with New Data—the newest publication emerging from the Mainstreaming Financial Inclusion: Best Practices initiative and produced jointly with the Institute of International Finance. Building upon insights gained from in-depth interviews with banks, fintechs and other actors, our conversation will highlight how new types of data and analytics tools are being used in the financial sector to reach underserved markets. In addition, this virtual event will feature experts who were interviewed as a part of this research, including Rodrigo Sanabria of LenddoEFL and Amin Khairy of CIB Egypt.
In short, we find that while financial service providers recognize the need to use new data and tools to reach the underserved, there remain many internal and external challenges that must be addressed for the promise of new data to be fully realized. However, by adopting data-focused strategies—such as developing a culture of innovation, attracting technical talent, modernizing IT systems, collaborating with fintechs and other parties, and engaging with regulators—providers can future-proof their business models and improve financial services for those at the base of the pyramid.