Gamification and nudges are emerging as powerful tools to engage customers, foster sustainable financial behaviors, and promote social development.
Climate change is hitting Asia and the Pacific hard, with many countries ill-prepared for the crisis. Yet, financial institutions stand poised to make a difference if they promote sustainable practices and receive the right support.
The Internet of Things—a rapidly growing network of connected devices—can help bring financial services to those most in need.
Cloud-based services can provide solutions for banks and other financial institutions that serve the poor and people in remote areas.
Government-backed digital currencies can help remote communities leap-frog the limitations of traditional currencies and get more people into financial systems.
The popular instant credit system could be a powerful tool to help Asia’s unbanked establish credit, open bank accounts and otherwise reap the benefits of the formal financial system.
The risk of “de-risking” – the process of international banks disassociating from financial partners, such as small remittance providers and local banks – is that it could push people out of the financial system completely.
The pandemic is changing consumer behavior and expectations in the Pacific, particularly when it comes to using digital tools for financial transactions.
New digitized financial services are coming to previously poorly connected areas in Southeast Asia and the Pacific. It should be inclusive and cost effective, and serve the interests of people at large.