In a world navigating dynamic financial landscapes, Alliance of Digital Finance and Fintech Associations (AllianceDFA), remains steadfast in its commitment to fostering positive change, promoting inclusivity, and shaping a sustainable future for the digital finance industry. In response to these challenges, AllianceDFA took center stage, releasing its AllianceDFA Annual Report 2023 that highlights the crucial role played by Digital Finance and Fintech Associations (DFAs) in driving innovation, collaboration, and digital transformation. The AllianceDFA Annual Report 2023 serves as a testament to the transformative impact of AllianceDFA and its member associations.
The report highlights the influential work of DFA Members globally. Notable examples include:
- Standards and a code of conduct set by Fintech Association for Consumer Empowerment (FACE) and Fintech Alliance Philippines (Fintech Alliance.ph).
- The Mozambique Fintech Association (Fintech.MZ) influenced changes in Government to Person (G2P) payments, ensuring wider access.
- Partnerships with central banks, such as those in Fintech.MZ and Fintech Alliance.ph played a role in contributing to their countries’ National Financial Inclusion Strategy.
- Digital Finance Association (DFA) Uganda engaged key mobile operators, and the regulator, Bank of Uganda, to identify interoperability opportunities in the ecosystem and their potential impact on market innovation and growth.
- Fintech Association of South Africa’s (FINASA) engagements resulted in new regulations, establishing a payment industry body and providing the fintech industry a voice in shaping financial services.
- In 2023, DFA Members organised over 50 events, attended by more than 2100 professionals, enhancing industry capacity, skills, and networks. Capacity building emerged as a key element, with associations like the Fintech Association of Botswana (FAB) partnering with a university to integrate fintech into finance degree courses.
The report showcases AllianceDFA’s accomplishments, providing a visual summary and context for the noteworthy milestones and contributions of the past year. Particularly, the AllianceDFA Accelerator Program emerges as a key achievement, addressing identified knowledge and capacity gaps in establishing and running a DFA. This six-modular program delivers practical advice, guidance, and adaptable templates, facilitating the acceleration of DFAs from inception to operational efficiency.
A focus for 2024 includes supporting DFAs to establish and achieve impact, amplifying their achievements, producing thought leadership, and growing membership through collaborations and partnerships. With strategic goals defined for 2024, AllianceDFA is poised to maintain its leadership role, driving the profession forward through innovation, collaboration, and a steadfast commitment to financial inclusion.
Heartfelt thanks to the Bill & Melinda Gates Foundation, Digital Frontiers, AllianceDFA Board, partner members, and DFA Members for their unwavering support, guidance, and actions driving a responsible and inclusive fintech and digital finance industry. Your commitment propels our shared mission forward, making a lasting impact in the financial landscape.