A financial sector that works for consumers has a suite of products and features that are suitable to consumers’ needs, are safe from cybercrime and that protect consumers’ privacy. Ideally, empowered consumers exercise an informed choice, understand the information disclosed to them, and have their voice heard in their interaction with financial services providers and agents.
The reality is often different. Cenfri’s consumer outcomes work aims to bridge the gap. We have worked with Consumers International, CGAP, GIZ, FSD Kenya, FSCA South Africa and the SADC Secretariat. Our track record includes policy briefs, regional consumer protection guidelines, financial inclusion measurement, measurement of consumer outcomes, and country-level consumer protection technical assistance.
We also have a significant body of work on behavioural science and its application in the financial sector.
Consumer outcomes: the holy grail. If you think about it, consumer protection is the ultimate raison d’être of all financial sector regulation. But what is “success” in consumer protection? The approach to financial consumer protection regulation has evolved over time. In recent years, more regulators have started to shift from a
Consumers face several frustrations with the potential to affect their experience of digital financial services. These include system glitches, inappropriate design, fraud, cybercrime, data breaches, opaque pricing, and more. The Digital finance: The consumer experience, 2023 report, which Cenfri developed for Consumers International, provides an assessment of the scale of
2025 is a pivotal year in global development, as we are only five years away from the current deadline for the Sustainable Development Goals (SDGs). With slowing economic growth and other macroeconomic challenges putting pressure on already declining development aid, exacerbated by the recent steps by the US government to
Our work at Cenfri rarely follows the typical rhythms of the calendar year, yet, as 2024 draws to a close, we thought it would be good to reflect on what we’ve achieved. It’s been a busy few months: we’ve worked on around 50 projects and undertaken work-related travel to 19
From experiencing the informal remittance journey first-hand on the bus to Harare, to unpacking payment system barriers in Côte d’Ivoire and Togo, to developing a cross-border payments strategy in the East African Community – payments is one of our long-standing thematic areas at Cenfri. It’s also the digital financial service
Micro and Small Enterprises (MSEs) are crucial drivers of economic growth in emerging markets, yet there is a persistent financing gap that restricts their access to essential capital. This financing challenge affects their ability to scale, manage cash flow, and build resilience against economic shocks, stifling both growth and sustainability. One
Rwanda has set ambitious goals to transition from an agrarian economy to a knowledge-based one by 2050. This is operationalised through initiatives like the Smart Rwanda Master Plan. The dream is to make Rwanda the digital hub of Africa, and a key focus is the digitisation of government services through
Consumer outcomes: the holy grail. If you think about it, consumer protection is the ultimate raison d’être of all financial sector regulation. But what is “success” in consumer protection? The approach to financial consumer protection regulation has evolved over time. In recent years, more regulators have started to shift from a
Digitalisation per se has marginal impact; the crux is the way it is leveraged and implemented. We need a better understanding of how digital transformation could create welfare-enhancing societal outcomes. Where does the impact break down and why? What are the risks of negative impacts and how to manage societies’
Fintechs have the potential to significantly improve the options available to financially underserved individuals. Many fintech start-ups in Africa, however, struggle to reach the scale and level of maturity that would make them viable alternatives to the offerings from traditional financial service providers. This is particularly true for fintechs launched
Digital financial services are transforming global financial service provision and access. Rapid developments in fintech are disrupting and transforming financial landscapes worldwide, leading to new partnerships, including those with traditional financial service providers, to better serve existing customers and reach previously underserved consumer segments. However, the benefits of DFS are
