Ivo Jenik of the World Bank’s Consultative Group to Assist the Poor (CGAP) discusses the opportunities for digitalization to support greater financial inclusion, as well as crucial prerequisites to ensure we don’t leave others behind, most notably in reliable internet access and affordable data usage plans.
Ivo also discusses the role of regulatory sandboxes, describing some of the highlights from his most recent CGAP report, How to Build a Regulatory Sandbox: A Practical Guide for Policy Makers. Ivo cites the role of Sandboxes in helping regulators to learn about new technologies and innovations, while simultaneously explaining the sandbox as just one of several tools available, and with some important design considerations and exit scenarios.
We also discuss the scope and the continued growth of the Global Financial Innovation Network (GFIN), of which CGAP was a founding member, and how the GFIN can help to promote effective cross-border innovation.
Sandbox Decision Tree
(Jeník, Ivo, and Schan Duff. 2020. “How to Build a Regulatory Sandbox: A Practical Guide for Policy Makers.” Technical Guide. Washington, D.C.: CGAP)