2
GUIDELINE NOTE: HOW FINTECH FACILITATES MSME ACCESS TO FINANCING
CONTENTS 1
EXECUTIVE SUMMARY
3
2
INTRODUCTION
3
3
FINTECH USE CASES AND BUSINESS MODELS FOR MSME ACCESS TO FINANCE
5
Crowdfunding Regulatory Framework
6
POLICY GUIDELINES: REGULATORY FRAMEWORK FOR FINTECH AND DIGITAL CREDIT
8
Regulatory Oversight on FinTech or Digital Credit
8
4
Sandbox for Emerging FinTech Regulatory Frameworks
10
Market Conduct Enforcement on Digital Credit
12
Comprehensive and Effective Credit Referencing Systems
15
Credit Information Sharing
15
Data Privacy and Consumer Protection
17
Policy Guidance
18
5
POLICY GUIDELINES: FINANCIAL STABILITY
20
6
CONCLUSION
21
7
REFERENCES
22
ACKNOWLEDGMENTS This guideline note is a product of the SME Finance Working Group (SMEFWG) and its members. Contributors: From the AFI Management Unit, Diana Taty Azman (Policy Analyst – Policy Programs and Regional Initiatives), Nik Kamarun Nik Kamil (SME Finance Senior Policy Manager, Alliance for Financial Inclusion) and Dr. Hamid Alavi (independent consultant). This report benefited from key inputs provided by Eliki Boletawa (Head of Policy Programs and Regional Initiatives) and Ghiyazuddin Mohammad (Senior Policy Manager of Digital Financial Services Working Group) The guideline note benefited from the careful review by members of the SME Finance Working Group: Jason Barrantes Rojas (SUGEF Costa Rica), Ellen Joyce Suficiencia (Bangko Sentral Ng Pilipinas), Waleed Samarah (Central Bank of Jordan), Peter Owira (SASRA Kenya), Gul Badshah Safi (Da Afghanistan Bank), Dominic Sikakau (Bank of Papua New Guinea), Lukman Abdulkadir Sale (Central Bank of Nigeria) and Olga Ilyukevich (National Bank of the Republic of Belarus) We would like to thank AFI member institutions, partners, and donors for generously contributing to the development of this publication.
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© 2021 (June), Alliance for Financial Inclusion. All rights reserved.
money transfer. Kenya. (Photo by Billy Miaron/Shutterstock)
