Mondato Summit — Catalyzing the digital finance & commerce ecosystem

Last week Agata Szydlowska was a speaker at Mondato Summit “Catalyzing the digital finance & commerce ecosystem”, which took place in South Africa.

The panel discussion she joined was focusing on “Promoting Consumer Protection amongst DFC stakeholders” where we discussed consumer awareness and how the current digitalization affects consumers and its impact on financial inclusion. One of the interesting take-aways from this summit were comments from one of the biggest MFIs in Africa region called FINCA stating: “MFIs in order to scale up and be in competition with digital money lenders must change their models of running business – main component of such chnage being credit scoring and data analytics”.

It is good to see that mobile lenders and fintech industry are the disruptive force not only to the formal banking sector but also same happening within MFI sector. It just supports the statement that data is the king and data analytics is fundamental part of the financial services. Creditinfo Group is here to support such changes and shifts in the business models.