Can Digital Footprints Lead to Greater Financial Access? via @thetenthkabir @CGAP
Kabir Kumar write a great blog here Can Digital Footprints Lead to Greater Financial Access? on CGAP, advancing financial access for the worlds poor. It is about a full report which is here
“..cell phone users generates data – from basic call data records, to mobile money transactional data, to data from social media usage and so on — that leaves what can be called a ‘digital footprint.’ Whether we call it digital footprint or something else, the truth is that the existence of this data is quite extraordinary for those of us interested in developing services for the poor and people with little or no formal financial access. In fact, in a number of countries, basic cell phone usage data may be the only source of information on vast sections of the low-income population that is both electronic and available in aggregate form in one or two data warehouses. In other words, it is available in a way that can be analyzed.”
There is so much great material in this report you have to read it as it highlights some early experience on the potential of digital footprints from mobile phone use. Most of this initial work is experimental.
The conclusion…
The following will need to happened for digital footprints from mobile phone use to make a difference to the unbanked poor
- Better understanding of the availability and quality of data
- More openness to experimentation by providers, either in partnership with existing analytics companies or through investments in their own home-grown analytics teams
- improvements in regulation and clear guidance to providers on protection for consumers when it comes to data privacy, security, and ethical use