How COVID-19 is rapidly evolving digital financial inclusion 

How COVID-19 is rapidly evolving digital financial inclusion 

COVID-19 has helped to rapidly expand digital financial services which can benefit of low-income households and small firms, says the IMF.

But there is plenty that needs to be done to ensure maximum inclusion post-COVID-19.



The COVID-19 pandemic could be a game-changer for digital financial services. Low-income households and small firms can benefit greatly from advances in mobile money, fintech services, and online banking. Financial inclusion as a result of digital financial services can also boost economic growth. While the pandemic is set to increase use of these services, it has also posed challenges for the growth of the industry's smaller players and highlighted unequal access to digital infrastructure. Several actions will need to be taken to ensure maximum inclusion going forward.







Low-income households and small firms can benefit greatly from advances in mobile money, fintech services and online banking.

“” Ulric Eriksson von Allmen, Purva Khera, Sumiko Ogawa, and Ratna Sahay









The shift towards digital financial services was already helping societies advance financial inclusion before the pandemic started, benefiting many low-income households and small firms with typically little access to traditional financial institutions. Lockdowns and social distancing are accelerating the use of digital