Digital Financial Services In The Pacific

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Digital Financial Services in the Pacific

Asian Development Bank
Digital Financial Services in the Pacific Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 68 pages
File Size : 49,6 Mb
Release : 2016-03-01
Category : Business & Economics
ISBN : 9789292573591

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Digital Financial Services in the Pacific by Asian Development Bank Pdf

The challenging geography and poor infrastructure of many Pacific nations mean digital financial services (DFS) are a particularly effective means of enhancing financial inclusion in the region. However, a number of major challenges confront DFS in the Pacific, including the establishment of reliable agent networks and the building of sufficient consumer trust in DFS for it to become a viable payments channel. This report examines the current use of DFS in the Pacific, analyzes the issues that need to be addressed, and provides recommendations for increasing financial inclusion in the region. This publication was produced by the Pacific Private Sector Development Initiative, a regional technical assistance facility cofinanced by the Asian Development Bank (ADB), the Government of Australia and the New Zealand government.

Strategy for Fintech Applications in the Pacific Island Countries

Sonja Davidovic,Ms.Elena Loukoianova,Cormac Sullivan,Hervé Tourpe
Strategy for Fintech Applications in the Pacific Island Countries Book PDF

Author : Sonja Davidovic,Ms.Elena Loukoianova,Cormac Sullivan,Hervé Tourpe
Publisher : International Monetary Fund
Page : 66 pages
File Size : 49,8 Mb
Release : 2019-08-22
Category : Business & Economics
ISBN : 9781498326735

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Strategy for Fintech Applications in the Pacific Island Countries by Sonja Davidovic,Ms.Elena Loukoianova,Cormac Sullivan,Hervé Tourpe Pdf

The Bali Fintech Agenda highlights 12 principles for policymakers to consider when formulating their approaches to new financial technology (fintech). The agenda aims to harness the potential of fintech while managing associated risks. This paper looks at how some elements of the Bali Fintech Agenda could be used in Pacific island countries, which face significant financial-structural challenges.

Rise of Digital Money

Yong Sarah Zhou,Tao Sun,Anca Paduraru,Arvinder Bharath,Stephanie Forte,Kathleen Kao,Miss Yinqiu Lu,Maria Fernanda Chacon Rey,Piyaporn Sodsriwiboon,Chia Yi Tan,Bo Zhao
Rise of Digital Money Book PDF

Author : Yong Sarah Zhou,Tao Sun,Anca Paduraru,Arvinder Bharath,Stephanie Forte,Kathleen Kao,Miss Yinqiu Lu,Maria Fernanda Chacon Rey,Piyaporn Sodsriwiboon,Chia Yi Tan,Bo Zhao
Publisher : International Monetary Fund
Page : 58 pages
File Size : 51,9 Mb
Release : 2024-02-25
Category : Business & Economics
ISBN : 9798400263071

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Rise of Digital Money by Yong Sarah Zhou,Tao Sun,Anca Paduraru,Arvinder Bharath,Stephanie Forte,Kathleen Kao,Miss Yinqiu Lu,Maria Fernanda Chacon Rey,Piyaporn Sodsriwiboon,Chia Yi Tan,Bo Zhao Pdf

The departmental paper, "Rise of Digital Money: Implications for Pacific Island Countries," delves into the fast-evolving landscape of digital money in a diverse region of extremes in size, remoteness and dispersion, highlighting its significant macroeconomic and financial consequences. It provides an overview of the development of digital money and payment systems in Pacific Island Countries (PICs), assessing potential benefits and risks, with a focus on how they can harness digital technology to enhance financial inclusion and payment efficiency while minimizing risks. To this end, the paper also examines the prerequisites for successfully adopting various forms of digital money and proposes a strategic framework for policy decisions. The paper underscores the potential of digital money in advancing public policy goals, like financial inclusion and improved cross-border connectivity – given the specific characteristics of the region – while cautioning against the risks of rapid and inadequately regulated adoption. Accordingly, it advocates a gradual, well-informed approach, tailored to PICs' unique monetary and financial circumstances, including the presence of national currencies and the maturity of payment systems. Moreover, the paper suggests that a regional approach could help address capacity and scalability challenges in introducing new digital money forms and payment methods in PICs.

The Global Findex Database 2017

Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar
The Global Findex Database 2017 Book PDF

Author : Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar
Publisher : World Bank Publications
Page : 148 pages
File Size : 53,6 Mb
Release : 2018-04-19
Category : Business & Economics
ISBN : 9781464812682

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The Global Findex Database 2017 by Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar Pdf

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

The Financial Inclusion Landscape in the Asia-Pacific Region: A Dozen Key Findings

Mrs.Sarwat Jahan,Jayendu De,Mr.Fazurin Jamaludin,Piyaporn Sodsriwiboon,Cormac Sullivan
The Financial Inclusion Landscape in the Asia Pacific Region A Dozen Key Findings Book PDF

Author : Mrs.Sarwat Jahan,Jayendu De,Mr.Fazurin Jamaludin,Piyaporn Sodsriwiboon,Cormac Sullivan
Publisher : International Monetary Fund
Page : 31 pages
File Size : 53,7 Mb
Release : 2019-04-19
Category : Business & Economics
ISBN : 9781498305440

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The Financial Inclusion Landscape in the Asia-Pacific Region: A Dozen Key Findings by Mrs.Sarwat Jahan,Jayendu De,Mr.Fazurin Jamaludin,Piyaporn Sodsriwiboon,Cormac Sullivan Pdf

Financial inclusion is a multidimensional concept and countries have chosen diverse methods of enhancing financial inclusion with varying degrees of results. The heterogeneity of financial inclusion is particularly striking in the Asia-Pacific region as member countries range from those that are at the cutting edge of financial technology to others that are aiming to provide access to basic financial services. The wide disparity is not only inter-country but also intra-country. The focus of this paper is to take stock of the current state of financial inclusion in the Asia-Pacific region by highlighting twelve stylized facts about the state of financial inclusion in these countries. The paper finds that the state of financial inclusion depends on several factors, but a holistic approach calibrated to specific country conditions may lead to greater financial inclusion.

Challenges in Correspondent Banking in the Small States of the Pacific

Jihad Alwazir,Mr.Fazurin Jamaludin,Dongyeol Lee,Niamh Sheridan,Ms.Patrizia Tumbarello
Challenges in Correspondent Banking in the Small States of the Pacific Book PDF

Author : Jihad Alwazir,Mr.Fazurin Jamaludin,Dongyeol Lee,Niamh Sheridan,Ms.Patrizia Tumbarello
Publisher : International Monetary Fund
Page : 29 pages
File Size : 44,6 Mb
Release : 2017-04-13
Category : Business & Economics
ISBN : 9781475594768

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Challenges in Correspondent Banking in the Small States of the Pacific by Jihad Alwazir,Mr.Fazurin Jamaludin,Dongyeol Lee,Niamh Sheridan,Ms.Patrizia Tumbarello Pdf

Access to financial services in the small states of the Pacific is being eroded. Weaknesses in Anti-Money Laundering and Combating the Financing of Terrorism compliance in the context of high levels of remittances are contributing to banks’ decisions to withdraw corresponding banking relationships and close bank accounts of money transfer operators. In this paper, we gather evidence on these developments in the small states of the Pacific, discuss the main drivers, and the potentially negative impact on the financial sector and macroeconomy. We then identify the collective efforts needed to address the consequences of withdrawal of corresponding banking relationships and outline policy measures to help the affected countries mitigate the impact.

Harnessing Digitization for Remittances in Asia and the Pacific

Asian Development Bank
Harnessing Digitization for Remittances in Asia and the Pacific Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 74 pages
File Size : 44,6 Mb
Release : 2021-07-01
Category : Business & Economics
ISBN : 9789292629632

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Harnessing Digitization for Remittances in Asia and the Pacific by Asian Development Bank Pdf

Remittances are considered a lifeline of developing countries and are especially vital for migrants and their families. Digital data technology can help alleviate many of the “pain-points” in the remittances industry. For example, it can significantly enhance the convenience, speed, security, and affordability of sending and receiving remittances. This report discusses the importance of remittances in Asia and the Pacific, the key challenges faced by the industry, and the impacts of the coronavirus disease (COVID-19 pandemic. It also includes country case studies that demonstrate the benefits of digitization and makes recommendations on how the digitization of remittances across the region can be further advanced.

Harnessing Technology for More Inclusive and Sustainable Finance in Asia and the Pacific

Asian Development Bank
Harnessing Technology for More Inclusive and Sustainable Finance in Asia and the Pacific Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 54 pages
File Size : 55,9 Mb
Release : 2018-10-01
Category : Business & Economics
ISBN : 9789292613495

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Harnessing Technology for More Inclusive and Sustainable Finance in Asia and the Pacific by Asian Development Bank Pdf

Asia and the Pacific continues to embrace financial technology advances that are reshaping the traditional banking and financial services industry. This is being done through the digitalization, decentralization, and disintermediation of economic transactions. This report tracks the progress of financial innovation in the region, and discusses its implications for financial inclusion and stability as well as its challenges. It also identifies key policy issues for central banks, financial regulators, and international financial institutions.

The Role of Central Bank Digital Currencies in Financial Inclusion

Asian Development Bank
The Role of Central Bank Digital Currencies in Financial Inclusion Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 91 pages
File Size : 50,6 Mb
Release : 2023-03-01
Category : Business & Economics
ISBN : 9789292700911

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The Role of Central Bank Digital Currencies in Financial Inclusion by Asian Development Bank Pdf

Asia and the Pacific continues to experience rapid development of innovative technology solutions driven by increased government support to help address the economic fallout of the coronavirus disease pandemic. This publication identifies the role that central bank digital currencies could play in overcoming some of the challenges of achieving financial inclusion. It proposes recommendations to aid policy makers and regulators. The publication shares insights from the Asia–Pacific Financial Inclusion Forum, a policy initiative of the Asia–Pacific Economic Cooperation Finance Ministers’ Process.

Fintech Policy Tool Kit For Regulators and Policy Makers in Asia and the Pacific

Asian Development Bank
Fintech Policy Tool Kit For Regulators and Policy Makers in Asia and the Pacific Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 180 pages
File Size : 52,5 Mb
Release : 2022-03-01
Category : Computers
ISBN : 9789292693688

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Fintech Policy Tool Kit For Regulators and Policy Makers in Asia and the Pacific by Asian Development Bank Pdf

The rapid growth of fintech services in Asia and the Pacific can help countries leapfrog the challenges of traditional financial services infrastructure and dramatically increase access to financial services. An inclusive fintech ecosystem is essential to support economic growth, greater equality, and lower poverty levels. This publication details how to better understand and provide an enabling policy and regulatory environment to promote responsible fintech innovation, while ensuring consumer protection and supporting inclusive economic development in the region.

Is Digital Financial Inclusion Unlocking Growth?

Purva Khera,Miss Stephanie Y Ng,Ms. Sumiko Ogawa,Ms. Ratna Sahay
Is Digital Financial Inclusion Unlocking Growth Book PDF

Author : Purva Khera,Miss Stephanie Y Ng,Ms. Sumiko Ogawa,Ms. Ratna Sahay
Publisher : International Monetary Fund
Page : 30 pages
File Size : 40,7 Mb
Release : 2021-06-11
Category : Business & Economics
ISBN : 9781513584669

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Is Digital Financial Inclusion Unlocking Growth? by Purva Khera,Miss Stephanie Y Ng,Ms. Sumiko Ogawa,Ms. Ratna Sahay Pdf

Digital financial services have been a key driver of financial inclusion in recent years. While there is evidence that financial inclusion through traditional services has a positive impact on economic growth, do the same results carry over for digital financial inclusion? What drives digital financial inclusion? Why does it advance more in some countries but not in others? Using new indices of financial inclusion developed in Khera et. al. (2021), this paper addresses these questions for 52 developing countries. Using cross-sectional instrument variable procedure, we find that the exogenous component of digital financial inclusion is positively associated with growth in GDP per capita during 2011-2018, which suggests that digital financial inclusion can accelerate economic growth. Fractional logit and random effects empirical estimation identifies access to infrastructure, financial and digital literacy, and quality of institutions as key drivers of digital financial inclusion. These findings are then used to help inform policy recommendations in areas related to the digitization of financial services to promote financial inclusion.

The Promise of Fintech

Ms.Ratna Sahay,Mr.Ulric Eriksson von Allmen,Ms.Amina Lahreche,Purva Khera,Ms.Sumiko Ogawa,Majid Bazarbash,Ms.Kimberly Beaton
The Promise of Fintech Book PDF

Author : Ms.Ratna Sahay,Mr.Ulric Eriksson von Allmen,Ms.Amina Lahreche,Purva Khera,Ms.Sumiko Ogawa,Majid Bazarbash,Ms.Kimberly Beaton
Publisher : International Monetary Fund
Page : 83 pages
File Size : 49,7 Mb
Release : 2020-07-01
Category : Business & Economics
ISBN : 9781513512242

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The Promise of Fintech by Ms.Ratna Sahay,Mr.Ulric Eriksson von Allmen,Ms.Amina Lahreche,Purva Khera,Ms.Sumiko Ogawa,Majid Bazarbash,Ms.Kimberly Beaton Pdf

Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.

Financial Inclusion in Asia-Pacific

Ms.Elena Loukoianova,Yongzheng Yang,Mr.Si Guo,Ms.Leni Hunter,Mrs.Sarwat Jahan,Mr.Fazurin Jamaludin,Umang Rawat,Johanna Schauer,Piyaporn Sodsriwiboon,Mr.Yiqun Wu
Financial Inclusion in Asia Pacific Book PDF

Author : Ms.Elena Loukoianova,Yongzheng Yang,Mr.Si Guo,Ms.Leni Hunter,Mrs.Sarwat Jahan,Mr.Fazurin Jamaludin,Umang Rawat,Johanna Schauer,Piyaporn Sodsriwiboon,Mr.Yiqun Wu
Publisher : International Monetary Fund
Page : 139 pages
File Size : 53,7 Mb
Release : 2018-09-18
Category : Business & Economics
ISBN : 9781484371015

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Financial Inclusion in Asia-Pacific by Ms.Elena Loukoianova,Yongzheng Yang,Mr.Si Guo,Ms.Leni Hunter,Mrs.Sarwat Jahan,Mr.Fazurin Jamaludin,Umang Rawat,Johanna Schauer,Piyaporn Sodsriwiboon,Mr.Yiqun Wu Pdf

Asia has made significant progress in financial inclusion, but both its across-country and intra-country disparities are among the highest in the world. The gaps between the rich and the poor, rural and urban populations, and men and women remain deep. Income is the main determinant of the level of financial inclusion; but other factors, such as geography, financial sector structure, and policies, also play important roles. While some countries in the Asia-Pacific region are leaders in fintech, on average the region lags behind others in several important areas such as online (internet) purchases, electronic payments, mobile money, and mobile government transfers. This Departmental Paper aims to take stock of the development and current state of financial inclusion and shed light on policies to advance financial inclusion in the region. The research focuses on the impact of financial inclusion on economic growth, poverty reduction, and inequality, linkages between financial inclusion and macroeconomic policies, as well as structural policies that are important for improving financial inclusion. Given the increasing importance of financial technologies (fintech), the paper also provides a snapshot of the fintech landscape in the Asia-Pacific.

Financial Digitalization and Its Implications for ASEAN+3 Regional Financial Stability

Asian Development Bank
Financial Digitalization and Its Implications for ASEAN 3 Regional Financial Stability Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 112 pages
File Size : 46,6 Mb
Release : 2023-02-01
Category : Business & Economics
ISBN : 9789292700119

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Financial Digitalization and Its Implications for ASEAN+3 Regional Financial Stability by Asian Development Bank Pdf

This publication examines the impact of digitalization on the financial stability of the members of the Association of Southeast Asian Nations and the People’s Republic of China, Japan, and the Republic of Korea (ASEAN+3). The region is a global leader in digital financial services, and economic and financial links among ASEAN+3 markets are growing. The publication discusses the opportunities and risks of digitalization, explores how to manage financial integration in the digital era, and identifies changes in regulations and supervision needed to reduce risk and successfully transform the traditional banking model.

The Digital Financial Revolution in China

David Dollar,Yiping Huang
The Digital Financial Revolution in China Book PDF

Author : David Dollar,Yiping Huang
Publisher : Brookings Institution Press
Page : 210 pages
File Size : 55,9 Mb
Release : 2022-05-10
Category : Business & Economics
ISBN : 9780815739562

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The Digital Financial Revolution in China by David Dollar,Yiping Huang Pdf

Describes how China is in the lead in transforming finance for the digital age This book is the product of a joint research project between economists at the National School of Development, especially the affiliated Institute of Digital Finance, at Peking University and at the Brookings Institution. It investigates the impact of financial technology on job creation, income distribution, and consumer welfare in China. It also examines larger systemic issues such as monetary policy, stability of the banking sector, and international trade and payments.