On 9 September 2015, the G20 Global Partnership for Financial Inclusion (GPFI) brought together policymakers, financial service providers and researchers to discuss key trends and gaps in agricultural finance. The demands on the global food system are rising rapidly. The agricultural sector is essential for food security, job creation and overall economic growth around the world.
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On 10 September 2015, policy-makers, development financial institutions and regulators came together to discuss access to finance for small businesses. Small and medium-sized enterprises are essential for economic growth because they account for over 95% of businesses worldwide and provide more than half of all jobs.
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Financial innovation through a rusty regulatory framework only falls into a vicious circle. It is a game in which no one wins. While fintechs are kept out of the real competition, banks are still fighting their own high compliance costs. Their partnership leads to some hope of better financial services for customers but this is far from being a reality.
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This report finds that while mobile is already the largest banking channel by volume of transactions, its adoption by new customers is now entering an exceptionally rapid phase. The report warns that banks who do not have clear mobile banking strategies will lose customers and cross-sell opportunities in the short-term, as well as risk jeopardizing competitive advantage.
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Recent global economic slowdown requires a new growth model for Asia, where SMEs play a greater role in boosting national productivity. This publication reviews various country aspects of SME finance covering the banking sector, nonbank sector, and capital markets.
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