If MFIs fail to digitalize, it could mean the end of financial services for the rural poor, because the business case is so challenging, particularly compared to the diverse, low-cost opportunities to serve the higher-value, connected urban market. In short, this could end years of progress towards financial and social inclusion.
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Editor's Note:
If you were hoping that the faiV would be a pleasant distraction from the overwhelming flow of AI-related content, sorry. For the record, the faiV had “ai” built in before Anthropic existed. And a housekeeping note: we’ve finally jumped ship from Mailchimp to NYU’s mailing platform—I guess if you’re reading this it’s been a seamless transition and if you’re not, well, you’re not. Feedback on the faiV’s content and format and delivery methods is always welcome, just drop me an email.
- Tim Ogden
Editors’ Note: Hi, Laura and Jonathan here. A few of the pieces this week come from people who spent years up close with how poor households actually handle money, and keep coming back with something more tangled than the story usually told, and more persistent. Tim will be back for the next edition. - Laura Freschi and Jonathan Morduch
Ten years ago, FAI managing director Tim Ogden published Experimental Conversations, a collection of interviews with economists and other people who critique, promote, and use randomized controlled trials (RCTs) in development economics. One of the interviewees was Michael Kremer, a pioneer of the movement, now a Nobel laureate, and recently appointed Chief Economist of the World Bank.