The global MSME finance gap has swelled to $5.7 trillion, with certain demographics like women remaining largely underserved. However, we have witnessed how digitalisation is enabling new services and business models to address this. In addition, newer types of financial services providers, such as digital banks, are changing the landscape rapidly. New data scoring models are also emerging, and usage of alternate data is opening new avenues that can enable access to financial services for data poor SMEs. In this session, we will learn how digital banks are evolving to offer innovative SME finance solutions, as well as how IFC is supporting digital banks in Asia enhance access to financial services for SMEs and convening global stakeholders through its SME Finance Forum.
