Responsible Financial Access

Developing a national financial inclusion strategy (NFIS) can help countries chart a clear and coordinated path toward greater financial inclusion. This toolkit provides practical guidance on developing and operationalizing a NFIS. The toolkit draws on over 20 country experiences and is informed by the World Bank Group’s role as a technical partner in NFIS development and operationalization in a diverse range of country contexts.

Since the 2012 edition, international guidance and country practices regarding financial consumer protection have substantially evolved. The 2017 Good Practices is a comprehensive reference and assessment tool for policymakers that consolidates the latest research, international guidance, and country examples. This guide emphasizes implementation aspects and expands upon priority areas such as supervisory techniques, effective disclosure, and digital finance.

New sources of data and new ways to process data have contributed to an ongoing expansion in the availability of digital financial services. Such data can be used to design and market customer-centric products, create credit scores for consumers with limited credit histories, meet and facilitate know-your-customer requirements, and minimize the risk of fraud. Yet a great variety of personal information may be processed in this context. This discussion note provides an overview of benefits and risks arising from the use of new types of data and identifies areas for further research.