Welcome to our session discussing how we can catalyse cohesiveness in the industry to enable financial resilience and economic growth. In this session, we explore why we formed in-country Digital Finance Associations and the Alliance of Digital Finance Associations; share some success stories of the impact made and our vision for the future and why you should be involved. This session was part of the content of Financial Inclusion Week 2022.

The digital finance industry is siloed and fragmented. Different associations and industry bodies exist with the aim to support their part of the industry but there is no association uniting the entire ecosystem for change. Establishing a country-based DFA with an inclusive focus with a wide-ranging membership gives an independent and holistic partner for the industry to work with. They can be a thought partner to the regulator, impartially support the private sector and ideate with the development sector. These DFAs empower local digital finance experts to advocate, catalyse action, remove barriers and shape a digital finance ecosystem that allows for greater inclusion. DFAs have a large network of individuals and organisations within their country and have both the expertise and local knowledge needed to identify collective issues and challenges and together find faster resolution. They bring public, private and development sector together to develop policy, infrastructure, products, and services that brings greater financial inclusion and resilience to its population. We give examples of the activities and achievements DFAs have made, including supporting regulators and policy development, facilitating industry collaboration, and capacity building in Mozambique, the Philippines, Uganda, and Bangladesh.

The Alliance brings together DFAs to facilitate shared learning and strengthen them for impact and sustainability. We will give examples of the challenges the association’s face and how we are supporting their governance and development to enable them to influence industry standards, be independent thought partners and act as a catalyst for change. We will also present the convening power of the Alliance, and how its global footprint and reach can be accessed by organisations wishing to partner and collaborate. Finally, we will discuss The Alliance’s role in identifying best practices, key industry issues, challenges and opportunities, providing a unified voice for the inclusive digital finance profession, and how you can join, support or collaborate with The Alliance.

This session is recorded by:

• Ashraful Alam, Board Member of the Alliance of Digital Finance Associations; Advisor to Digital Finance Forum Bangladesh; Director at Bangladesh Bank

• Sarah Corley, CEO and Board Member of the Alliance of Digital Finance Associations; Divisional Director at Digital Frontiers • João Gaspar, Board Member of the Alliance of Digital Finance Associations; President of Mozambique Fintech Association; Founder and CEO at PayTek

• Jason Lamb, Board Member of the Alliance of Digital Finance Associations; Deputy Director, Focus Country Implementation at Bill & Melinda Gates Foundation

• Rob Ashley Madziva, Board Member of the Alliance of Digital Finance Associations; Advisor to Association of Digital Finance Practitioners Tanzania; Founder and Director at Digital Mobile Africa

• Camilo Téllez, Board Member of the Alliance of Digital Finance Associations; Deputy Managing Director at Better Than Cash Alliance at United Nations

• Lito Villanueva, Board Chair of the Alliance of Digital Finance Associations; Chair of Fintech Alliance Philippines; Executive Vice President and Chief Innovation & Inclusion Officer at Rizal Commercial Banking Corporation

• Diana Akullu Wanyama, Board Secretary of Alliance of Digital Finance Associations, Chair of Digital Frontiers Association Uganda; Contact Centre Manager at dfcu Bank