This slide deck describes how digital financial services can contribute to international development across several sectors like energy, water, education and health.
- Digital payments foster efficiency. They can create leaner businesses by decreasing cash handling costs and enabling instant payments, they help customers save time by avoiding long queues and make payments from the comfort of their homes, and they can use payment data to support proactive cash flow management.
- Digital transaction footprints create data that can be analyzed to develop new and improved services for various customer segments, such as alternative credit scoring, bundled credit, targeted subsidies etc.
- An auditable digital record of transactions also increases trust and transparency, especially for investors, helping organizations raise and manage funds efficiently.
- Finally, digital finance enables new business models like Pay-as-you-go (PAYGo), which expand access to essential services like lighting, water and cooking fuel, for low income households.
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Topic: Digital Innovation
Sub-topics: Role of Financial Inclusion