Promoting DFS adoption among underserved market segments: Insights from the Democratic Republic of the Congo, Indonesia and Kenya

This report explores how digital financial services (DFS) are reshaping access to finance in low- and middle-income countries, particularly for underserved individuals and nano, micro, and small enterprises. Despite significant progress—driven by innovations like mobile money—1.4 billion people remain unbanked, with women, rural communities, and less educated groups most affected.

Based on insights from the Democratic Republic of the Congo, Indonesia, and Kenya, the report examines the barriers and enablers of DFS adoption, from demand- and supply-side factors to broader macroeconomic conditions. It highlights lessons from these markets and sets out practical recommendations on issues such as trust, financial education, regulation, and collaboration across the ecosystem. Targeted at private-sector organisations, such as mobile operators and other DFS providers, as well as development partners aiming to enhance access to DFS products, the report provides evidence-based guidance on how to close the usage gap and ensure digital finance drives inclusion, resilience, and sustainable development.