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The report provides a thorough analysis of the implications of introducing a digital euro, highlighting its potential effects on financial stability, consumer welfare, innovation, and competition. Key design features like holding limits and zero interest impact its adoption and the broader financial ecosystem. The report suggests cautious implementation to mitigate risks to financial stability, emphasizing the need for regulatory clarity and infrastructure readiness. It underscores the digital euro's role in enhancing monetary sovereignty, but also calls for addressing challenges to ensure it supports financial inclusion without undermining the existing banking system. #Hashtags: #DigitalEuro #FinancialStability #ConsumerWelfare #Innovation #Competition #RegulatoryClarity #MonetarySovereignty #FinancialInclusion

Money is running the world. But still using #financialservices is out of reach for many as nearly 1.4 billion global adults are still unbanked. However, solutions like #crossborderpayment systems are bringing financial services closer to the unbanked and underserved. These systems offer affordable remittance services to underserved populations to make them financially inclusive. A study says that the cross-border payments sent home by migrant workers to support their families reached $800 billion in 2022. This shows how crucial cross-border payments are for financial inclusion. Read this #blog to explore the role of cross-border payment systems in boosting financial inclusion. Explore for more: https://lnkd.in/dNFurxgZ #CrossBorderPayments #FinancialInclusion #GlobalPayments #DigitalFinance #FintechSolutions #FinancialEmpowerment #InternationalPayments #fintech #finance #digipayguru

🎃 CAN WE ABOLISH PAYMENT CHARGES ?: To push financial inclusion to 100% and leave no one behind.🇹🇿 If most mobile money payments were free, would you NOT do more digital payments? If payments were free, we would find ways to offer more meaningful financial services to millions of mobile money customers. 🏀 By eliminating fees for frequent payments, we lower the barrier to participation in digital financial services, we can incentivise mobile money, and fintechs to experiment with new models beyond payments fees, That way everyone wins in the long run, there’s more users, more revenues. 🎆 Financial Sector Deepening Tanzania, Vodacom, Bill & Melinda Gates Foundation, airtel, NMB Bank Plc, Tigo Tanzania Plc, Safaricom PLC, United Nations Capital Development Fund (UNCDF), Innovations for Poverty Action https://lnkd.in/egqb8TVX

While leveraging digital financial solutions, expanding banking networks, and promoting financial literacy are essential components of addressing the challenge of financial inclusion, they alone may not constitute a comprehensive solution. These strategies serve as key pillars in the broader framework of efforts aimed at advancing financial inclusion, but additional measures may be necessary to effectively close the gap. For instance, addressing regulatory barriers and promoting inclusive policy frameworks can create an enabling environment for financial inclusion initiatives to thrive. Moreover, targeted interventions, such as microfinance programs and community-based initiatives, play a crucial role in reaching marginalized populations and addressing their unique needs. Furthermore, fostering partnerships between governments, financial institutions, civil society organizations, and the private sector is vital for driving collective action and mobilizing resources towards achieving meaningful progress in financial inclusion. Holistic approach that combines innovative solutions, supportive policies, targeted interventions, and collaborative efforts across sectors is needed to effectively address the multifaceted challenges of financial inclusion and ensure that everyone has access to essential financial services and opportunities for economic empowerment. #ReviveSales #FinancialInclusion #Access #Banking #Services #Barriers 

The Innovate Finance Vision for the First 100 Days of Government: Our roadmap for the new Labour government outlines critical steps to bolster the FinTech sector within the first 100 days and support the government’s missions to grow the UK economy and create opportunity for all: ☑ Early July: Appoint Smart Data Cabinet Minister ☑ July: Commit to Delivery of Mansion House Pension Compact ☑ July/Aug: Review PSR APP reimbursement implementation ☑ Late July/Aug: Commission Smart Data Council ☑ Late July/Early Sept: Introduce Smart Data / DPDI Bill ☑ September: Enact secondary legislation for bespoke BNPL regulation ☑ Mid-Sept: Commit to developing a National Capital Strategy ☑ Sept/Oct: Implement secondary legislation for stablecoin regulation ☑ October: Publish a National Payments Vision By following this timeline, we can foster our thriving FinTech ecosystem to continue to drive economic growth and innovation. 🔗 Read the full plan https://lnkd.in/d_s35KyV 🔗 Register for our upcoming webinar on our election insights https://lnkd.in/dfiQCXyC 🔗 Check our Policy & Regulation Programme https://lnkd.in/exMTYpQ2 Adam Jackson | Paul Worthington | Megan Jenkins | Christopher Foo | Jago Corry #VoiceOfUKFinTech #FinTechManifesto #FinTechPlanForGovernment #FinTech

🌟 Let's Talk About Credit Bureaus in Vietnam! 🌟 Did you know that having access to a credit bureau can be a game-changer for individuals and businesses in Vietnam? Credit bureaus play a crucial role in the financial ecosystem by providing comprehensive credit information that helps lenders make informed decisions and individuals manage their financial health more effectively. Exciting news! A new project focused on a new credit bureau in Vietnam is currently being spearheaded to raise awareness about these “hubs” and their benefits for our community. Stay tuned for updates as we dive deeper into this important initiative! Despite their importance, awareness about credit bureaus remains limited in Vietnam. That's why it's crucial to raise awareness and highlight the benefits they bring to our financial landscape. From facilitating access to credit for small businesses to empowering consumers to negotiate better terms, credit bureaus have the potential to drive financial inclusion and economic growth. Join us in spreading the word about the importance of credit bureaus in Vietnam. Together, let's empower individuals and businesses to unlock new opportunities and achieve their financial goals! #CreditBureaus #FinancialInclusion #Vietnam #Empowerment #Awareness #Fintech #Amigo

By placing emphasis on financial health, financial institutions not only cultivate greater customer loyalty and product uptake, but also play a significant role in reducing poverty, low wellbeing, and are taking part in the development of more robust and inclusive economies. United Nations Environment Programme Finance Initiative (UNEP FI) has released new guidelines to support financial institutions advance the financial well-being of their customers, both individuals and businesses. Bravo 👏 In my view, for all working in finance, this is a must read. “Driving Impact on Financial Health and Inclusion of Individuals and Businesses: From Setting Targets to Implementation”, can be downloaded via the link attached. #financialwellbeing #financialhealth #UN #responsiblebanking #wellbeing #inclusion #SME #retailbanking https://lnkd.in/dhjiQe7E

[Case study 💼] Mobile money faces many challenges in promoting #financialinclusion, particularly in #ruralareas. To help meet these challenges, our consultants carried out a study to identify the main obstacles and opportunities for mobile money development. Their recommendations made identified the necessary drivers for its adoption. Find out more about the research and its results 👉 https://loom.ly/-Q3shaQ

We have published a summary document following our industry workshop on servicing First Nations communities with a focus on culture, community and engagement. The workshop highlighted a range of approaches for providing accessible and effective engagement channels for #FirstNations communities through in-person services in remote locations, including insights from financial services industry representatives. In his opening remarks to the workshop, ASIC Commissioner Alan Kirkland outlined the challenges that people in remote First Nations communities face accessing financial services in person. He also noted First Nations peoples’ experience of financial exclusion can be further compounded by the increased shift to online services. Any support for the financial inclusion of First Nations peoples must recognise these unique circumstances and experiences. We thank the workshop attendees – representing over 50 organisations – for their time and insights, and encourage stakeholders across the #FinancialServices industry to explore the practices shared in the document. Read more https://lnkd.in/gzGrHqUZ #banking #superannuation #insurance

The Financial Inclusion Commission welcomes the commitment to a National Financial Inclusion Strategy, with ministerial oversight, in Labour’s ‘Plan for Financial Services. Too many people lack access to basic banking services, insurance or affordable credit and have little or no savings to fall back on. We call on all parties to adopt this as their baseline policy position on financial inclusion in the run up to the next General Election. The Financial Inclusion Commission will continue to advocate for additional measures to increase people’s financial resilience, not least through access to insurance and affordable credit products. Access to banking services is a critical concern for the Financial Inclusion Commission and we therefore welcome Labour’s consideration of legislation to mandate the FCA to mandate face to face banking services, alongside a commitment to accelerating the rollout of 350 banking hubs, the early pilots for which have provided encouraging results for ‘banking deserts. We also welcome the focus given to digital inclusion: financial and digital exclusion often go hand in hand.