Innovation for Inclusion: A Roadmap for Inclusive Finance Policy to Navigate Rapid Technological Change
Three out of four adults in low- and middle-income countries now have access to formal financial accounts, progress that has been driven by waves of innovation in inclusive finance, like microfinance and digitization. However, significant gaps remain, with 1.3 billion adults unbanked, 4 billion uninsured or underinsured, and many still financially vulnerable.
The future of financial inclusion depends on timely, forward-looking policy as much as technology. Innovations such as generative and agentic AI, open data, tokenization, and embedded financial services offer great promise but also introduce new risks. Effective, intentional policymaking is crucial to ensure these benefits are widely shared and do not deepen existing divides.
This paper presents a policy roadmap that outlines six key priorities for financial sector authorities, including:
- Leveling the playing field for diverse players.
- Making payments systems fit for purpose.
- Expanding open finance frameworks to open data.
- Establishing an approach for inclusive AI.
- Creating a framework for responsible use of tokenization.
- Building adaptive and innovation-ready ecosystems.
