Financial Inclusion Beyond Payments

Abstract

The report discusses key policy issues that enable and constrain digital savings market development and offers policy considerations within the context of the G20’s High-Level Principles for Digital Financial Inclusion. Based on current market observations, three policy considerations seem most important for facilitating digital savings account deployments: Enable banking institutions to pursue digital savings partnerships with nonbank entities. Support the development of interoperability between banks and nonbank e-money issuers. Harmonize customer due diligence standards for emoney wallets and low-risk bank deposits.