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Combating Cybercrime in Emerging Economies: The Case for Regional Cybersecurity Centers to Protect the Finances of the Poor
Cybercrime is growing in emerging economies, threatening progress toward inclusive finance. And the poorest people tend to be the most at risk – and the least able to afford losing money. Though government and industry bodies have struggled to address the problem, David Medine at CGAP explains that solutions exist – including the formation of regional cybersecurity resource centers.
- Categories
- Finance, Technology
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The COVID-19 Pivot: How Five Nonprofits and Community-Based Enterprises Have Adapted in Response to the Pandemic
As COVID-19 has upended entire industries, businesses and non-profits everywhere have had to adapt to survive – sometimes shifting completely from their traditional services. June Sugiyama at the Vodafone Americas Foundation explores how five participants in the OpenIDEO COVID Business Pivot Challenge have quickly adjusted to provide innovative solutions to the crisis.
- Categories
- Agriculture, Coronavirus, Health Care, Social Enterprise, Technology
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Avoiding the Downside of Instapay: Five Behavioral Science-Based Principles to Make Paycheck-on-Demand Benefit Low-Income Users
There are numerous apps and employers that allow employees to cash out their paychecks on demand, rather than waiting until their usual payday. But while this may seem like a dream come true for people who need quick cash to deal with financial distress, "instapay" also comes with tradeoffs. Analysts at Common Cents Lab discuss these downsides – and some behavioral science-based solutions.
- Categories
- Coronavirus, Finance, Technology
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Digital Platforms: The Virtual Classrooms That Transform India’s Youth into Productive Workers
India is one of the youngest societies in the world, with people aged 15-24 making up a third of the population. That's why the country's economic growth will depend on youth becoming productive workers, says Sreelakshmi Ramachandran at Ola Mobility Institute. As we celebrate World Youth Skills Day, she explores how digital platforms are upskilling young workers and easing their transition to employment.
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- Education, Technology
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Overthrowing the King: Could Central Bank Digital Currencies Replace Cash in Post-COVID-19 Africa?
Despite advances in digital technology, cash has remained the undisputed king of payments in sub-Saharan Africa. However, as Michaella Allen and Christine Hougaard at Cenfri explain, COVID-19 has placed a stigma on cash and led governments across the region to actively encourage digital payments. They explore the implications of this shift, and whether it could make central bank digital currencies a viable alternative.
- Categories
- Coronavirus, Finance, Technology
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Why It’s Time for Africa to Adopt a Regional Digital Financial Identity
Over 1 billion people globally lack any form of officially recognized identification. According to Nkosinathi Ncube at FinMark Trust, this is a significant obstacle to financial inclusion and other development efforts – but overcoming it is no easy task. He explores some of the challenges to expanding access to formal identity in Africa, and explains why an effective solution will require regional action.
- Categories
- Finance, Technology
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Building Back Better: How the COVID-19 Crisis Could Lead to an Integration of Health Care and Finance
Since COVID-19 started, the health care world has been talking about finance, trying to lessen the economic damage of lockdowns. And the financial world has been talking about health, launching new products that address the challenges of the pandemic. Chris Wolff explores how the two industries can use their combined response to rebuild in a way that leaves the world in a better place than it was before.
- Categories
- Coronavirus, Finance, Health Care, Technology
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A New Test for Old Technology: How COVID-19 is Sparking Innovation in PayGo Financing for Biodigesters
Biodigesters transform animal manure into high-quality fertilizer and biogas, replacing the need for wood-burning cooking stoves – and PayGo financing enables smallholders to afford them. But as Laura Harwig at Feed the Future explains, COVID-19 has made it harder for farmers to make their payments. She explores how the biodigester company ATEC* has adapted its PayGo model to help farmers weather these challenges.
- Categories
- Agriculture, Coronavirus, Technology
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