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The value of digital transformation of microfinance providers on deepening financial inclusion around the globe

Digital financial services have the potential to speed up financial inclusion in developing countries and trigger real benefits for both customers (convenience, faster transactions, diversified financial services, last-mile solutions) and providers (competitive market advantage, better risk mitigation, increased operational efficiency, rural outreach at lower cost). It is not if microfinance providers (MFP) like microfinance institutions, SACCOs and Credit Unions want to embark on the digital transformation journey but when.