Consumers International

📢 This week we were honoured to represent the consumer voice at the first-ever OECD - OCDE Consumer Policy Ministerial Meeting in Paris. The event entitled 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐚𝐭 𝐭𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐚𝐧𝐝 𝐆𝐫𝐞𝐞𝐧 𝐓𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 was an unprecedented opportunity to address the risks and opportunities in a new era of consumption. It brought together ministers, industry and international organisations from across 55 countries. Consumers International was the the only consumer group invited to the Ministerial and brought a global delegation from across several of our Members to the discussions ➡️ https://lnkd.in/e_XEv6Du. 𝐖𝐡𝐚𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐞𝐝? 1️⃣ We saw our recommendations taken up in the Ministerial’ s Declaration on Protecting and Empowering Consumers in the Digital and Green Transition, signed by close to 50 ministers and other representatives. 2️⃣ We supported agenda topics and shared consumer insights and recommendations in speaking roles across thematic sessions on product safety, cross border protection, inclusivity and the green and digital transition. 3️⃣ We united leaders in a VIP Lunch to explore the nexus of sustainability and safety and how intersectional approaches provide win-win-wins for global goals, consumer protection and people in the marketplace. The Ministerial stressed the need for more collaboration than ever, and for this to extend beyond traditional actors. We stand ready to support this. Through our seat at the table we can help to enrich dialogue and accelerate action. Full wrap up ➡️ https://lnkd.in/e_XEv6Du Consumentenbond BEUC - The European Consumer Organisation Tec-Check Consumer Reports Which? Rocio Concha Galguera Consumer Policy Research Centre Consumer Council Consumer Advocacy and Empowerment Foundation (CADEF) CHOICE

The new era of consumption is heightening risks for all consumers, while deepening the vulnerability of those most exposed to these challenges. Increased financial vulnerability results in more severe consequences—our research reveals that for every 1-point rise in the vulnerability score, there is a 1.28-point increase in negative financial outcomes. At #FinancialInclusionWeek, a key question is: 𝘏𝘰𝘸 𝘤𝘢𝘯 𝘸𝘦 𝘦𝘯𝘴𝘶𝘳𝘦 𝘯𝘦𝘸 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘴 𝘮𝘦𝘦𝘵 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥𝘴 𝘰𝘧 𝘭𝘰𝘸-𝘪𝘯𝘤𝘰𝘮𝘦 𝘤𝘰𝘯𝘴𝘶𝘮𝘦𝘳𝘴? Our experience has shown the value of building bridges across different stakeholders to foster dialogue, accountability and action — leading to stronger consumer outcomes in low- and middle-income countries. Here’s how 👇 #FinclusionWeek #financialinclusion #consumerprotection #digitalfinance  #FIW24 #fairfinance #vulnerability Center for Financial Inclusion (CFI) CONSENT Uganda Tec-Check Consumer Council Of Fiji Idec - Instituto Brasileiro de Defesa do Consumidor Which? CHOICE Consumer Reports Consumer NZ

Join us for a crucial discussion on FCP and Gender. United Nations Capital Development Fund (UNCDF) and Consumers International are excited to invite you to our virtual workshop on October 22nd, 2024. This engaging webinar will address the obstacles preventing women from accessing digital financial services and ensuring financial consumer protection. Key topics: - FCP challenges faced by women - Strategies for enhancing women's digital financial inclusion - Stakeholder collaboration - Raising awareness Take advantage of this opportunity to contribute to a more inclusive and empowered financial landscape. We encourage you to share this information within your professional networks Register now here: https://lnkd.in/dHXV6yMV #WDFI #ItsHerEconomyToo Sewit Haileselassie Tadesse, Helen Gebregiorgis,Endashaw Tesfaye,Seifu Teshome, Sheila Senfuma Nakanyike, Darina Novotny, Annie Mutamba, Endashaw Tesfaye, Yaa Asamoah Boateng, APR

"In #DFS, fraud is prevalent ... Over 10 million have experienced losses. Many have experienced reputational loss." - Sheila Senfuma Nakanyike of Consumers International during #FinclusionWeek. Register now to watch this live session, and don't forget to tune in to the rest of the #FIW24 live agenda through October 18th: https://lnkd.in/e7wexZgE

Data is essential for financial services, but it also introduces risks like #cybercrime, #fraud and #overindebtness. If people are to truly benefit from financial inclusion, digital financial services must protect and empower consumers everywhere. Today we’re speaking at #FinancialInclusionWeek on:  ▶ 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 developed by Cerise+SPTF (12:30 - 13:00 UTC).  ▶ 𝐁𝐚𝐥𝐚𝐧𝐜𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐰𝐢𝐭𝐡 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐥𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐭𝐨 𝐄𝐧𝐬𝐮𝐫𝐞 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 (17:00 - 18:00 UTC). Join us as we discuss the role of data in building responsible #digitalfinance, and initiatives like our Fair Digital Finance Accelerator (FDFA), which strengthens regulation and supports consumer advocates in low and middle-income countries. Register and watch live 👉  https://lnkd.in/emPA3ueA With speakers from Alliance of Digital Finance and Fintech Associations CGAP Innovations for Poverty Action Banco de Ahorro y Crédito Fihogar 4G Capital Center for Financial Inclusion (CFI) #FinclusionWeek #financialinclusion #consumerprotection #FIW24 #fairfinance

From the OECD - OCDE Ministerial to the G20's Global Partnership for Financial Inclusion to #FIW24 this week - we represent the consumer voice across key moments in the #digitalfinance calendar. What does that actually mean - the consumer voice? It means that together with our Members - we paint a global picture of the experiences of consumers based on the insights we gather through surveys, focus groups, public data and more. Across these moments we spotlight the opportunities we have found in #digitalfinancialservices - everything from #DigitalPublicInfrastructure to #MobileMoney to sending payments overseas. BUT we highlight that without sufficient safeguards, far more of us are becoming exposed to the risks - #scams #fraud #overindebtedness. This exposure can be driven either by unique characteristics or situations we find ourselves in at certain times of our lives. And when things go wrong, we often feel ashamed - we shouldn't. Through greater protection and collaboration to help change the system we can seize the opportunities and give risk a kick in the backside. Across this week we spotlight tried and tested solutions. #BuildingBridges Research #ConsumerCampaigns #Innovation #InclusivePolicy.

Did you know more than 5 billion people globally rely on digital payments?  📊 The rapid rise of digital financial services is reshaping access to financial tools, especially in low- and middle-income countries. But with this growth comes challenges — 43% of consumer bodies specify 𝐥𝐚𝐜𝐤 𝐨𝐟 𝐭𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 as a major concern for consumers. For #FinancialInclusionWeek we’re looking back at the past six months of our global campaign for 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐭 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬. This has seen incredible progress to improve transparency and consumer protection in digital finance. Check out below ⬇ As we move forward, it's essential to maintain transparency and protections in the digital age. This will help ensure consumers worldwide can access safe, fair financial services. 🌱 Discover more insights: https://lnkd.in/e2khKEQd #FinclusionWeek #financialinclusion #consumerprotection #digitalfinance #transparency #fairfinance Center for Financial Inclusion (CFI) CONSENT Uganda FOMCA - Federation of Malaysian Consumer Associations Consumer Council Of Fiji Citizen consumer and civic Action Group Consumer VOICE India Tec-Check

It’s the 10th anniversary of Financial Inclusion Week (#FIW2024), a global gathering hosted by the Center for Financial Inclusion (CFI). This year’s theme invites us to reflect on the past as we look to shape the next decade of inclusive finance. 💳 About 1.4 billion people today still lack access to formal financial services, a critical barrier to progress. Financial inclusion is key to achieving 13 of the Sustainable Development Goals (CGAP). A major challenge we face is the underrepresentation of vulnerable consumers in digital finance policies. Our Digital Finance Index shows low inclusion of these groups, raising concerns about the quality of inclusion and consumer protection. Lived experiences and inclusivity are essential indicators of meaningful progress. As we look ahead, we’ll draw inspiration from past success stories, challenges faced, and the market shifts that have defined our journey. Join us throughout the week as we share impactful stories and strategies that drive change in financial inclusion. 🖋 Registration: https://lnkd.in/eHE2kdCT #FinclusionWeek #financialinclusion #consumerprotection #digitalfinance

❓ Did you know around 1.4 billion adults worldwide do not have a financial account? Yet financial inclusion has also been identified as an enabler for 13 of the #SustainableDevelopmentGoals. Jobs, #povertyreduction, #genderequality. 💡 For these benefits to materialise, Members of our #FairDigitalFinanceAccelerator are working on the solutions. Last week two of these Members shared exactly how at an OECD Financial Taskforce meeting. In Nigeria Consumer Advocacy and Empowerment Foundation (CADEF) has strengthened regulation for excluded consumers through joint up approaches with the Central Bank and the Lagos State Protection Agency. They have also supported 80 persons with disabilities and reached 1000+ through #financialliteracy training. In Mexico, consumers are required to file complaints in person - a large barrier to consumer #redress. Tec-Check has driven innovation in the solution – their sophisticated consumer complaints platform ensures more issues can be put in the public domain to drive accountability. This week we join our partners Center for Financial Inclusion (CFI) for #FinclusionWeek 2024. We'll be shining a light on the consumer experience and inspiring stories of change. #FIW24 #financialinclusion #inclusivefinance #AI #climatechange #digitalization #resilience #consumerprotection

📍Paris, France 🗓️ October 8-9, 2024 🏢 The Organisation for Economic Co-operation and Development (OECD - OCDE) convened the first-ever Ministerial meeting focused on consumer policy. This is what it looks like when consumer advocates are in the room: 🗣️ Consumers have a voice. Members of Consumers International formed our Delegation and had a seat at the table, making strategic interventions in discussions about policy, reflecting their lived experience with decisions that affect all of us. It was my great privilege to stand (or as shown here, sit) behind them. 📃 That voice informs outcomes, such as the adoption of the Declaration on Protecting and Empowering Consumers in the Digital and Green Transitions (🖇️https://lnkd.in/eBuncS4X), which directly reflects our Delegation’s interventions. I look forward to seeing this put into practice for consumers and the planet we inhabit, whose climate is in active crisis. Merci beaucoup Business at OECD (BIAC) for the opportunity to co-host our lunch about “A Shared Roadmap for Safety and Sustainability”, and special thanks to my inspiring colleagues Helena Leurent, Érico Rodrigues de Melo and Nina Campbell with me on the ground. #consumerpolicy #consommateur