通过数字信贷加强韧性和金融健康

The GSMA is a global organisation unifyingthe mobile ecosystem to discover, developand deliver innovation foundational to positivebusiness environments and societal change.Our vision is to unlock the full power ofconnectivity so that people, industry,and society thrive. The GSMA’s Mobile Money programme works toaccelerate the development of the mobile moneyecosystem for the underserved. For more information, please contact us: www.gsma.com/mobilemoneymobilemoney@gsma.com Representing mobile operators and organisationsacross the mobile ecosystem and adjacentindustries, the GSMA delivers for its membersacross three broad pillars: Connectivity for Good,Industry Services and Solutions, and Outreach. This activity includes advancing policy, tacklingtoday’s biggest societal challenges, underpinningthe technology and interoperability that makemobile work, and providing the world’s largestplatform to convene the mobile ecosystemat the MWC and M360 series of events. We invite you to find out more at gsma.com Author Isabelle Carboni Acknowledgments The author is grateful to the following people for peer reviews and input:Lisa Chassin, Ashley Olson Onyango. Marketing support was provided byImelda LimandJoyce Kong. Contents 01Introduction 04 02The growth of digital credit in Sub-Saharan Africa2.1The high cost of formal digital credit0607 03The potential impact of digital credit08 04Commercial models4.1What types of digital credit are available to customers?4.2Responsible lending principles091013 05A practical framework for sustainable growth16 06Charting the path forward 01Introduction As mobile money has expanded across low- and middle-incomecountries (LMICs), so has access to formal sources of credit via mobilemoney accounts. Credit is an important means of managing cash flow,smoothing consumption, dealing with unexpected shocks and enablinglarger purchases or investments. Mobile-enabled credit has unlockedaccess for millions more adults, with easy applications, approvals inminutes and funds transferred almost instantly into a digital wallet. Digital credit has the potential to improve resilienceand financial health, giving borrowers a greater senseof well-being.1Primarily short cycle and low value,digital credit helps underserved customers solvea cash-flow problem via a formal financial service,instead of borrowing from friends and family orother informal sources. Formal borrowing also buildsa credit history and financial profile, which unlockaccess to other financial services. markets, while others mandate partnerships withtraditional banks. It is crucial for financial sectorauthorities to strike a balance between enablinginnovation for greater financial inclusion and ensuringconsumer protection to support improved financialhealth. The need for credit continues to outstrip provision.As mobile money transactions continue to grow,digital payments in particular, “thin file” customersare able to build a financial profile – critical datafor assessing creditworthiness. Combined withadvances in data analytics and AI, there is a majoropportunity for mobile money providers (MMPs) todeliver tailored credit products for different customersegments, including women, micro, small and mediumenterprises (MSMEs) and smallholder farmers. Yet, this ease of access has also increased the riskof consumer harm. Innovation in digital financialservices outpaces regulation and this lag has allowedirresponsible and predatory lending platforms toproliferate. At the same time, low financial literacy hascontributed to defaults, over-indebtedness and stressfor some consumers, diminishing their financial health. Partnerships between MMPs, fintechs, banks and techplatforms are driving new innovations in MSME credit,embedded finance and buy-now-pay-later (BNPL)solutions. Backed by improved regulation, securedata sharing and instant payment systems, these newsolutions can deepen consumer trust in digital creditservices and build digital habits. As the mobile money industry matures,regulation is improving, with strongersupervisory authority over digital creditproviders and a greater focus on consumerprotection and data privacy. “Test and learn” approaches are applied in some Box 1 What is digital credit? Digital credit has three main attributes: Remote Instant Automated end-to-end processvia a mobile device credit decisions take only afew minutes or even seconds credit decisions are made viaalgorithm, not by a loan officer Types of digital credit include: Short-cycle, low-value consumer creditMedium-value productive credit or cash flow loans for MSMEsMobile money agent loans for set-up and/or floatEmbedded financing for BNPL offerings The growth of digital creditin Sub-Saharan Africa02 Uptake of digital credit has risen substantially acrossLMICs. According to the GSMA, 44% of MMPs offereda digital credit product in 2024, and from September2023 to June 2024, the number of unique customerstaking out a loan with