AccionMfB Explores Digital Lending Impact On Informal Sector At Seminar

Accion Microfinance Bank (AccionMfB) has said it will be exploring the impact of digital lending at its 7th annual Financial Inclusion Seminar.

According to the bank, the event taking place virtually, is part of its continued commitment to advancing financial inclusion in Nigeria. This year’s event is with theme “Digital Lending: A Path to Financial Inclusion or a Barrier for the Informal Sector?”

In a statement by the company, it says, “This annual event continues to solidify Accion MfB’s position as a key player in the financial inclusion sector, driving transformative conversations and shaping the future of inclusive finance in Nigeria and beyond. Over the years, Accion MfB has been at the forefront of driving crucial conversations around the evolving role of microfinance banks in expanding access to financial services. From the 2017 seminar that outlined a vision for making financial inclusion a reality by 2020 to last year’s focus on digital literacy, products, and services, the Financial Inclusion series has consistently explored critical areas shaping the future of financial access for financially excluded communities.

“This year’s theme builds on this legacy by addressing the impact of digital lending platforms on the informal sector. As a microfinance bank dedicated to bridging financial gaps, Accion MfB will continue to lead discussions on how digital solutions can be used responsibly to empower low-income members of society. The global push towards financial inclusion has made significant strides in recent years, primarily through the rise of digital platforms and technologies. One of the most notable developments in this landscape is the emergence of digital lending. Peer-to-peer lending and other forms of digital credit are often hyped as a way to provide financial access to the informal sector, which is typically excluded from traditional banking services.”