High-level representatives from 18 countries met in Windsor, UK from 8-9 March, UK to discuss the best way to regulate new modes of financial service delivery to reach poorer populations. 

At a seminar hosted by AFI, CGAP and the UK Department for International Development (DFID), policymakers from around the world underlined that implementing regulatory frameworks that strike the right balance between protecting customers and promoting innovation is critical to the further expansion and success of technological-based solutions – such as mobile phone financial services and the use of agents for service delivery. The seminar included leaders from the sector and representatives of the G-20 economies, which have committed to support the dissemination new modes of financial service delivery capable of reaching the poor. 

Building on the existing international dialogue between policymakers, the Windsor seminar – entitled the ‘Windsor Global Leadership Seminar on Regulating Branchless Banking’ – explored recent regulatory developments in the use of agent banking, highlighting the advantages and drawbacks of different approaches from around the world. The discussions focused on the kinds of entities that should be permitted to act as agents and how best to level the playing field to best enable the provision of financial services. 

“Many of the most innovative policy solutions for financial inclusion are coming from developing countries and it is vital that these experiences are listened to and learned from. Bringing developing country perspectives to the Windsor seminar will accelerate the international exchange of ideas and best practice, arming more regulators with the knowledge they need to implement proportionate and balanced regulation,” said Alfred Hannig, Executive Director of AFI. 

Representing the AFI network, Steering Committee member and Deputy Governor from the Bangko Sentral ng Pilipinas, Philippines Nestor A. Espenilla, gave remarks during the opening session on Monday 8 March. And Steering Committee Chair and Governor of the Central Bank of Kenya Professor Njuguna S. Ndung’u, gave a keynote address during the official seminar dinner. The Windsor event is the third annual seminar for high-level policy makers and regulators hosted by CGAP, DFID and AFI. 

Coverage of the seminar is available at http://technology.cgap.org.