There is a lack of a universal definition and comprehensive understanding of overindebtedness, including its symptoms and impacts. There is a need for better benchmarking of best practices in digital credit, focusing on identifying industry leaders who prioritise customer well-being and transparency. Regulatory gaps can hinder innovation in microcredit, and vulnerable individuals often face digital disadvantages and low literacy levels. Additionally, promising customer segments like aspiring buyers and small enterprises remain underserved by digital credit products. MMPs’ emphasis on serving unbanked and underbanked individuals opens opportunities to consider tailored, business oriented digital credit products for entrepreneurial customers that could support both financial inclusion and business growth.
Download the full report to understand the digital credit landscape with observations and recommendations on mobile money.