Innovative finance as defined by Georgia Levenson Keohane

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Innovative finance refers to “creative ways to finance and pay for unmet needs and public goods”. It can take various forms, such as new applications, financial inclusion, disaster relief, etc. Many successful forms of innovative finance involve technology. M-Pesa, Kenya’s highly popular mobile money platform, is one of them.

[fulltext] =>

Innovative finance refers to “creative ways to finance and pay for unmet needs and public goods”. It can take various forms, such as new applications, financial inclusion, disaster relief, etc. Many successful forms of innovative finance involve technology. M-Pesa, Kenya’s highly popular mobile money platform, is one of them. M-Pesa has allowed a significant portion of the unbanked population in the country to access a variety of financial services, and is also used to finance solar panels for Kenyan households. However, technological innovation is only truly beneficial when facilitated through human interaction. Poor, underserved populations are more likely to adopt, and to benefit from, financial services if they are assisted by a trusted agent.

 

Even so, innovative finance cannot solve all problems. In some cases, when working in particularly challenging geographies or conditions, for instance, it might not be sufficient to do away with the need for external support. But even in these situations, innovative finance helps by highlighting the advantages of prevention (vaccines, early childhood education, etc.). As a matter of fact, many of the most successful innovative finance examples involve cost-effective investments in prevention, through public-private partnerships. It is thus important that government policy should support such initiatives.

 

Read the original article. 

 

 

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Read more on LSL World Initiative's blog. 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Innovative finance refers to “creative ways to finance and pay for unmet needs and public goods”. It can take various forms, such as new applications, financial inclusion, disaster relief, etc. Many successful forms of innovative finance involve technology. M-Pesa, Kenya’s highly popular mobile money platform, is one of them.

{K2Splitter}

Innovative finance refers to “creative ways to finance and pay for unmet needs and public goods”. It can take various forms, such as new applications, financial inclusion, disaster relief, etc. Many successful forms of innovative finance involve technology. M-Pesa, Kenya’s highly popular mobile money platform, is one of them. M-Pesa has allowed a significant portion of the unbanked population in the country to access a variety of financial services, and is also used to finance solar panels for Kenyan households. However, technological innovation is only truly beneficial when facilitated through human interaction. Poor, underserved populations are more likely to adopt, and to benefit from, financial services if they are assisted by a trusted agent.

 

Even so, innovative finance cannot solve all problems. In some cases, when working in particularly challenging geographies or conditions, for instance, it might not be sufficient to do away with the need for external support. But even in these situations, innovative finance helps by highlighting the advantages of prevention (vaccines, early childhood education, etc.). As a matter of fact, many of the most successful innovative finance examples involve cost-effective investments in prevention, through public-private partnerships. It is thus important that government policy should support such initiatives.

 

Read the original article. 

 

 

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Innovative finance refers to “creative ways to finance and pay for unmet needs and public goods”. It can take various forms, such as new applications, financial inclusion, disaster relief, etc. Many successful forms of innovative finance involve technology. M-Pesa, Kenya’s highly popular mobile money platform, is one of them. M-Pesa has allowed a significant portion of the unbanked population in the country to access a variety of financial services, and is also used to finance solar panels for Kenyan households. However, technological innovation is only truly beneficial when facilitated through human interaction. Poor, underserved populations are more likely to adopt, and to benefit from, financial services if they are assisted by a trusted agent.

 

Even so, innovative finance cannot solve all problems. In some cases, when working in particularly challenging geographies or conditions, for instance, it might not be sufficient to do away with the need for external support. But even in these situations, innovative finance helps by highlighting the advantages of prevention (vaccines, early childhood education, etc.). As a matter of fact, many of the most successful innovative finance examples involve cost-effective investments in prevention, through public-private partnerships. It is thus important that government policy should support such initiatives.

 

Read the original article. 

 

 

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