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How ‘Designing Under the Mango Tree’ Can Prevent Digital Solution Hiccups
Like an off-road vehicle, when you build a digital solution, you want to build with the most challenging environments in mind. Why? So the digital solution can scale with fewer hiccups, as it grows outward. Mobile services company Dimagi calls it “designing under the mango tree,” and it requires working in partnership with a variety of end users. It's hard work, Kathryn M. Clifton writes, but worth it.
- Categories
- Social Enterprise, Technology
- Tags
- data, partnerships, product design
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Lessons Learned Using Mobile Tools to Compile Financial Diary Data
Financial diary methodology is a powerful tool for studying financial inclusion, especially if digital tools are used. Using a mobile data collection and analysis app (which also worked offline) and a cloud-hosted database, Catholic Relief Services drew household data from rural areas in real time and amassed thousands of data points generated by tracking people’s financial lives each week.
- Categories
- Finance, Technology
- Tags
- data, financial inclusion, fintech, research
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Why Alternative Lending Struggles to Scale in Emerging Markets – And What Fintech Companies Can Do About It
Fintech models have proliferated in most developing countries, but alternative lending has struggled to gain scale. That's why FIBR, a project by consulting firm BFA in partnership with The MasterCard Foundation, is bringing together fintechs and banks to use networks of small businesses – shops, clinics and even local schools – to deliver digital financial services to low-income customers.
- Categories
- Finance, Technology
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Machine Learning Meets Credit Scoring: How it Can Help Reduce Loan Delinquency Costs
Investment in predictive algorithms for credit scoring is a no-brainer for sophisticated digital financial service providers. Brick-and-mortar financial institutions that are just beginning to explore technology applications should follow suit, according to BFA, because credit scoring optimizes three business layers that improve the overall bottom line.
- Categories
- Finance
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Four Ways Digital Finance Can Prepare for the Next Wave of Mobile Money Disruption
The mobile money and agent banking markets of the developing world are due for disruption, so digital finance providers should start preparing. A new research paper from the Helix Institute of Digital Finance offers tips on preparing for the new wave, plus some advice: Focus on data, "the common denominator and foundation for all financial technology companies."
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- Technology
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From Biometrics to Chatbots: Two Technology Challenges Aim to Help Governments Digitize their Economies
There is a growing consensus that emerging-market governments should digitize their economies, starting with the vast streams of payments they themselves make and receive. The DFS Lab is launching two technology challenges to fund new technologies that enable this transition: a Biometrics Challenge and a Chatbots Challenge. The deadline to enter is May 30.
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- Technology
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Accion Report Shows How Leveraging Data Can Lead to Greater Financial Inclusion
Accion released a report that charts a path for FSPs to use data to accelerate financial inclusion and improve their business operations. This report, developed by Accion with the support of the Citi Foundation, details the steps providers can take to lay the groundwork for big data and advanced analytics by improving their ability to generate, analyze, and respond to data of any size – starting with the information and data they already have – to help extend high-quality financial services to the underserved.
- Categories
- Uncategorized
- Tags
- data, financial inclusion
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RegTech for Regulators: Reimagining Financial Supervision and Policymaking
The authors – representing BFA, USAID, the Gates Foundation and Omidyar Network – say tomorrow's financial customers and service providers will be able to leverage technology to engage in a real-time, two-way conversation to quickly obtain information and resolve problems, benefitting consumers, regulators and financial institutions alike.
- Categories
- Finance, Technology