March 31, 2016
With the fast pace of technology development and improving digital experience, electronic transfers globally are being adopted at a rapid pace. Even with increasing concerns over data privacy and security, the trend is expected to continue. National regulatory bodies and research centers are paying closer attention to the digitization trend to understand the impact and make sure the trend brings positive outcomes for the developing world as well as for most prosperous economies. Thus, the Consultative Group to Assist the Poor (CGAP), an independent policy and research center dedicated to advancing financial access for the world's poor, has taken a closer look at increasing electronic transfers and risks it creates for financial inclusion in the developing world.