Digital disruption and inclusion: challenges and opportunities

A virtual conference hosted by the Asia School of Business and the Bank for International Settlements, 26-28 January 2022

Digital technology has long held the great promise of putting within reach the goal of financial inclusion. The achievements of digital technology seem to have gone beyond the low-hanging fruit of mobile payments and into micro-savings and micro-credit. Nonetheless, these remarkable technological advances seem to have yet to transform the lives of most of the poor.

This conference brought together some of the leading thinkers in digital technology and financial inclusion. The discussions assessed where we stand and allow an exchange of views on the best ways of moving forward.

Day 1 

Models of digital inclusive finance and stories of success (00:08:24)

by Zeti Akhtar Aziz and Agustín Carstens

26 Jan 2022 ASB-BIS virtual conference, 26-28 January 2022

This session discusses the frontier in digital payments and digital credit in achieving financial inclusion. What models are working? What can we learn from China and India as leading models? What are the key elements of successful digital innovation?

Day 2

Financial resilience in the large and in the small (00:14:51)

by H.M. Queen Máxima of the Netherlands, Benjamin E Diokno, Leora Klapper, Dilip Asbe, Sethaput Suthiwartnarueput and Hyun Song Shin

27 Jan 2022 ASB-BIS virtual conference, 26-28 January 2022

This session considers financial resilience at two levels – the level of the individual household and the level of the economy at large. To what extent does increased access to credit translate into unsustainable indebtedness? How does low financial literacy interact with transparency and ethical practices such as sales tactics, fee structures and detailed terms and conditions?

Day 3

Central banks as enablers (00:23:22)

by Nor Shamsiah Mohd Yunus, Robert Merton, Henry Ohlsson, Ravi Menon, Fernando Restoy and Eddie Yue

28 Jan 2022 ASB-BIS virtual conference, 26-28 January 2022

This session is about creating an environment that fosters both digital financial inclusion and financial stability. What enabling role should central banks have in digital infrastructure, building trust, mitigating risks, education, and working with other regulators?