Digital Finance: Innovation at the Core of Big Development Challenges
Date: Wednesday, April 9, 2014 Time: 11:15 a.m. - 12:45 p.m. ET (15:15 – 16:45 GMT or convert time) Location: Online
This event has concluded. View the replay below.
How can digital finance, mobile money and innovative financial tools help expand basic services and utilities to poor people? At this event moderated by CGAP CEO Tilman Ehrbeck, innovators from bKash, Airtel Money - Africa and Mobisol will showcase how their businesses are tackling big development challenges. Then, a panel including Walt Macnee, Vice Chairman at MasterCard, and Arjuna Costa, investment partner at the Omidyar Network, will discuss ways these new business models can be scaled to make a real difference in improving the lives of billions worldwide. IFC CEO Jin Yong Cai will offer opening remarks.
Where does the Branchless banking lie? Is it part of the Digital Finance, Mobile Money...?
I know it is part of the Mobile Financial Services.
Please brief it.
sagar s singh
Is it only relates to providing cash base transaction? How can we ensure deposit accepting services with adequate safeguard?
Dr. Ashish Manohar Urkude
Is it true, that Intellectual Property Right, and Innovations goes hand in hand? Then why the Patent Application is so complected and time consuming/ or is unknown even to technocrats, bureaucrats, entrepreneurs, executives, researchers, Professors, and businessmen in many countries? I hope the question seems to be relevant, as it is observed that innovation is directly proportional to the development issue. Here in this case, holding Debit or Credit Card and having accessibility to digital currency, is itself an innovation in many countries, at present. Hope you'll touch this point in your all important discussion.
Who is best placed to provide solutions to customers - Telco's or Banks? Are there any partnerships between these 2 players that offer glimpse of winning formula?
What is your take on achieving financial inclusion by 2020? Is it achievable? And is digital money the most effective way of achieving this?
How Digital Finance will revolutionize Banking across the globe?
Prince Osei Hyeaman-Addai
Digital Financial Services seems to be the innovative solution to the masses we are all trying to get into the financial circles....how is the ownership like? the telcos or banks? I think the banks have not yet come to full terms with the need to use this channel on mobile money, etc. Like someone rightly mentioned, some ( if not a good number) of the unbanked are just not interested in a formal bank account although the banks seem to bother them with that need.
Digital money.....i think more development bodies and banks/telcos must take it more seriously than it's being seen.
Technology can effectively be used using this digital financial channel to win the war of financial inclusion by 2020.
Digital Financial Services seems to be the innovative solution to the masses we are all trying to get into the financial circles....how is the ownership like? the telcos or banks? I think the banks have not yet come to full terms with the need to use this channel on mobile money, etc. Like someone rightly mentioned, some ( if not a good number) of the unbanked are just not interested in a formal bank account although the banks seem to bother them with that need. Digital money.....i think more development bodies and banks/telcos must take it more seriously than it's being seen. Technology can effectively be used using this digital financial channel to win the war of financial inclusion by 2020.It good idea I am also like's
In developing countries where infracstural/network problems continue to persist, how will the Digital Finance, Mobile Money etc flourish to achieve the intended objectives? I hope these areas will be touched in your discussion. Thank you
what are the best mechanisms to achieve financial inclusion in low income countries?
Dr. Ananh Norasingh
excellent program, now this day people all have mobile phone. I hope it will get start in Lao PDR
So much of the works done on this topic has been focused on the demand side (adoption, product design, agent management, etc), but after having been working on the space for quite some time, it started to look to me that the demand side (right structure, right strategy) need as much attention as the supply side. Do you share this view as well?
How important, from a public policy point of view, is interoperability of mobile payment systems? Does the panel believe that interoperability should be mandated by regulatory measures?
Similarly, does the panel believe that mobile money operators should be obliged to open up their own agent networks to rival operators? (remove exclusivity)
I would love to hear the panel's opinion on which is better suited to bring financial inclusion to the masses; banks, telecom operators, other? It is my observation that in general banks need to think in terms of automation and mass market to succeed. See link for short reasoning around this.
Anggi Gayatri Purba
Just a simple question, so please answer. If a country can create its own money in its Central Bank, why there are still many developing country has problems with finance and poverty? Can u explain why? Why can't the country just share the money free to the poor people? Why? Please answer, I really need it, thanks.
How do you see crypto currencies such as Bitcoin playing a role in financial inclusion? With greater transparency for governments and lower transaction costs for users, what's not to love?