CFI Fellows Program: Responsible Digital Credit

What does responsible digital credit look like?Responsible Digital Credit FINAL Cover

All over the world, small loans to invididuals and very small business are increasingly made using digital channels, whether online, via a mobile devide or through an agent. However, trust, confidence and responsible lending practices need to be in place to ensure this industry is successful and its customers are protected and empowered. In Responsible Digital Credit, CFI Fellow John Owens outlines the digital credit landscape and the risks customers face, and examines the best practices, standards and initiatives that exist or should be implemented to improve consumer protection in digital lending. Ultimately, John argues, it will take a village to ensure that digital credit clients are protected—including governments, regulators, industry players, advocates and consumers themselves. He sees three key activities: 1) industry self-regulation, 2) certification of digital credit providers, and 3) directly empowering consumers, as key to the future of what responsible digital credit looks like.

This report  was made possible by support from Mastercard Foundation and other partners.

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