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FIGI Symposium 2021 - Shared screen with gallery view
madhavan pallan International
01:07:40
Good morning, afternoon and evening everyone. Have a great day ;)
ITU Secretariat
01:23:24
Hello everyone, thank you for joining this session on Consumer Risks of Fintech!Please feel free to ask brief questions in the Q&A tab, and use the chat function to message "all panelists" or "all panelists and attendees".You can find these 2 functions at the bottom center of your screen.
David Magoudaya
01:25:06
Hi okay thanks
madhavan pallan International
01:29:54
+2 likes
Thamsanqa Robert Ncube
01:31:24
Hi to Everyone: Thamsanqa Robert Ncube from South Africa.Organization: (UNESCO) United Nations Educational Scientific and Cultural Organization.Designation: Global NGO
Samuel N'KAMBUA
01:32:54
Hi, it's Samuel from DRC
Samuel N'KAMBUA
01:33:42
are the slides available?
Jennifer Chien
01:35:18
Hi Samuel - the slides will be shared on the FIGI Symposium website.
Helen Luskin Gradstein
01:46:23
FYI - the slides will be shared on the FIGI Symposium website.
Dawit Gebremariam
01:47:35
Thanks that is awesome.👍
Dilnavoz Narzullaeva
01:54:11
Great! Thank you Helen
Dilnavoz Narzullaeva
01:54:27
Sorry, I have to leave for another training
Vandy Kamara
01:54:41
Okay, it is absolutely necessary for participants to have access to the slides
Killian Clifford
01:57:28
Question to Jen (and apologies if you covered - I only caught the 2nd half of your presentation)
Killian Clifford
01:58:15
What would your recommendation be to regulators as to the role of mobile operators in digital credit esp in countries where it is offered over mobile money (eg SSA)
Killian Clifford
01:58:50
Operators often say the irresponsible lending comes from over the top players over which they’ve no influence
Killian Clifford
01:58:57
Do they protest too much/
Killian Clifford
01:59:00
?
Jennifer Chien
02:01:53
Hi Killian - I unfortunately did not have time to get to this specific topic, but it is partly an issue of regulatory perimeter and approach. As a starting point, it is preferable to regulate by activity - i.e. the same regulatory responses discussed in the slides should be applied to all providers of digital microcredit, including those linked to mobile wallets or app-based lenders.
Jennifer Chien
02:02:24
The challenge then becomes how that is achieved, which depends on the country context and regulatory perimeter of the financial authorities.
Jennifer Chien
02:03:17
Some emerging approaches include leveraging powers of other authorities, such as the competition authority (you've probably seen the Kenya example) or data privacy authority in the Philippines. Another approach is to require platforms to place standards on app developers.
Jennifer Chien
02:03:28
None of these are ideal but they are practical.
Jennifer Chien
02:04:12
And to answer one part of your question, there is indeed research showing that irresponsible behaviors are more common among non-bank digital microcredit providers.
Helen Luskin Gradstein
02:08:44
Hi Killian - I unfortunately did not have time to get to this specific topic, but it is partly an issue of regulatory perimeter and approach. As a starting point, it is preferable to regulate by activity - i.e. the same regulatory responses discussed in the slides should be applied to all providers of digital microcredit, including those linked to mobile wallets or app-based lenders.The challenge then becomes how that is achieved, which depends on the country context and regulatory perimeter of the financial authorities.Some emerging approaches include leveraging powers of other authorities, such as the competition authority (you've probably seen the Kenya example) or data privacy authority in the Philippines. Another approach is to require platforms to place standards on app developers. None of these are ideal but they are practical.And to answer one part of your question, there is indeed research showing that irresponsible behaviors are more common among non-bank digital microcredit providers.
Helen Luskin Gradstein
02:14:52
Original Question: Question to Jen (and apologies if you covered - I only caught the 2nd half of your presentation). What would your recommendation be to regulators as to the role of mobile operators in digital credit esp in countries where it is offered over mobile money (eg SSA). Operators often say the irresponsible lending comes from over the top players over which they’ve no influence. Thoughts?Answer: I unfortunately did not have time to get to this specific topic, but it is partly an issue of regulatory perimeter and approach. As a starting point, it is preferable to regulate by activity - i.e. the same regulatory responses discussed in the slides should be applied to all providers of digital microcredit, including those linked to mobile wallets or app-based lenders.The challenge then becomes how that is achieved, which depends on the country context and regulatory perimeter of the financial authorities.Some emerging approaches include leveraging powers of other authorities
Helen Luskin Gradstein
02:14:56
cont: uch as the competition authority (you've probably seen the Kenya example) or data privacy authority in the Philippines. Another approach is to require platforms to place standards on app developers. None of these are ideal but they are practical.And to answer one part of your question, there is indeed research showing that irresponsible behaviors are more common among non-bank digital microcredit providers.
Daniel Allain
02:21:17
Thank you very much for your answer,
Killian Clifford
02:27:29
Thank you!
madhavan pallan International
02:28:15
thanks :)