Across the developing world, financial institutions have leveraged digital technologies and innovative business models to expand access to digital financial services (DFS), such as digital transaction accounts and payment services, which serve as the gateway to financial inclusion. Providers are now diversifying their products offerings to newer DFS, such as credit, insurance, and savings. A recent World Bank Group report examines DFS products geared toward longer-term savings. Financial Inclusion Beyond Payments: Policy Considerations for Digital Savings, looks at how these digital savings products—though not yet mature–have the potential to advance an important element of digital financial inclusion. Read more
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