OUTCOMES OF EVENTS

RESPONSIBLE FINANCE FORUM VI:EVIDENCE AND INNOVATION FOR SCALING INCLUSIVE DIGITAL FINANCE (September 7-9, 2015, Antalya)

Participants:  130 from industry, government, consumer representatives, researchers, donors and practitioners.

Purpose: Share evidence and experience of all pillars to develop more effective collaboration and coordination in promoting innovations in digital finance that protect clients and contribute to their financial well-being. 

Top Challenges: complexity of products, lack of interoperability, network reliability, agent network, fraud, level playing field, recourse and customer service, KYC/UID, payment infrastructure, and absence of standards.

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OUTCOMES OF EVENTS

RESPONSIBLE FINANCE FORUM VI:EVIDENCE AND INNOVATION FOR SCALING INCLUSIVE DIGITAL FINANCE (September 7-9, 2015, Antalya) (cont’d)

Key Action Area by Pillar:

Consumer: (1) Foster design and scale of financial products that work for consumers through incorporation of insights on consumer behavior. (2) Engage with consumer associations.Industry: (1) Advance industry-led common provider principles to improve the efficiency and safety of digital financial services and empower customers. (2)Test and build evidence to better structure incentives and concrete actions for financial services providers to reinforce industry principles.Regulator: (1) Provide leadership for coordinated regulatory policy with lead supervisor. (2) Provide leadership for collaboration and country-level digital ecosystems, building competitive markets and a level-playing field among all players in digital financial services space.Donor/Development Partner: (1) Find practical ways of donor coordination on responsible finance. (2) Support development of regulator capacity as well as capacity of consumer associations.

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MAIN OUTCOMES

G20 ROUNDTABLE ON INNOVATIONS ON AGRICULTURAL FINANCE(September 9, 2015)

The importance of value chains – a key ingredient for growth and scale Digital technology as a potential game changer Subsidies can be helpful, at many levels – but be SMART with them! Don’t forget building human capital, and using expertise throughout VC

Critical role of women in agriculture and in VCs Invest in better data Good governance/good overall legal framework is essential

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MAIN DELIVERABLES

G20 SME FINANCE COMPACT(Septembr 10, 2015)

Challengesmultiple segments, poor data, no unified definitionscapacity constraints (SME/FI/regulator)cumbersome legacy procedures (Fis/DFIs/regulators)lack of bank financing alternativeslack of transparency in financial offerings

What the G20 can doSupport national SME inclusion strategiesUse G20 to promote effective practices (wider dissemination of best practices)Promote development of financial markets infrastructure in G20 and non G20 Lobby with SSBs to balance stability/inclusion better for SME financeLinking supply and demand  (SME Finance Forum/World SME Forum)

Promote capacity building Encourage donor coordination at country level

New AFI SME inclusion declarations – 32 countries! 4

MAIN DELIVERABLES

4. GLOBAL PLATFORM SUPPORTING YOUNG ENTREPRENEURS (GLOBAL YE!)

Launching a Global Platform for young entrepreneurs, September 10, 2015 , Antalya. The platform will contribute to:

•create of a global community of young entrepreneurs and practitioners involved in the field;

•connect young entrepreneurs with potential funding partners and funding opportunities;

•provide a framework for implementation of a national platform supporting policies fostering youth entrepreneurship nationally;

•gather data on youth entrepreneurship practices, policies and trends at a global level.

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