Digital Finance

Digital financial inclusion can be defined broadly as digital access to and use of formal financial services by excluded and underserved populations. Such services should be suited to customers’ needs, and delivered responsibly, at a cost both affordable to customers and sustainable for providers. Digital Financial Services (DFS) refer to delivery of financial services through technologies such as mobile telephones, the internet and other electronic devices and channels.

DFS aim to address access to financial services in all economic sectors, including financial, agriculture, insurance, transportation, water, health, education, clean energy etc. We undertake this by working with regulators to create an enabling environment for mobile financial services and agency banking in Zambia. We seek to ensure that these services are delivered responsibly, at a cost affordable to the customer, and with a business case for the providers.

Therefore, we also work with financial service providers including Mobile Network Operators to move the market forward and bring banking and other services within reach of the poor. We use an infrastructure approach working with stakeholders in the areas of policy and regulation, providers, distribution (expanding agent networks), high volume (creating large-scale demand), and customers (appropriate products). We support training, technical assistance and share the cost of reaching new markets and using new channels.

FSDZ focuses on making shifts between stages of market development, moving from Inception to Start-up to Expansion and eventually a mature market known as the Consolidation phase. Through each stage, FSDZ uses interventions at the Policy & Regulation, Provider, Agent, High Volume and Customer levels to improve market conditions and facilitate shifts.