Feb 14, 2020

Industry Gathers to Discuss Scaling-up Financial Inclusion

The Greater Sub-Mekong Region is in the midst of a coordinated push towards inancial inclusion. In Myanmar, adults with access to at least one formal financial product increased from 30% in 2014 to 48% in 2018, surpassing the initial 2020 targets of 40%. Current figures on formal financial inclusion in Cambodia show an inclusion rate of 59%. More needs to be done to bridge the gap in the region. The 11th Mobile Money & Financial Inclusion Summit 2020 will be convening in Yangon, Myanmar on 18-19 February to discuss current and innovative developments in the digital transformation of payments and progress towards financial inclusion. Over the years the participants have contributed in a meaningful manner to help shape reforms and innovation. Special recognition and appreciation is extended to key supporters of the event over the years including the Central Bank of Myanmar (CBM), the Financial Regulatory Department (FRD), regional central banks, local and regional banks,technological innovators and developmental agencies. This 11th Edition will see the gathering of payments and banking players. Key speakers at the 2020 Summit include experts from AYA Bank, CB Bank, KBZ Bank, Yoma Bank, Wave Money, Asia Green Development Bank, UNCDF, Advanced Bank of Asia, Modusbox, CGAP, and many others. Highlights of key sessions include: the State of Financial Inclusion and Implications for Mobile Money;Digital payments Interoperability; Building Trust and Financial Literacy; Cyber Policy Issues and Regulatory Developments; the Financial Eco-system for SMEs; Agents Network at the Last Mile; and Innovative Financial Products for Women. One of the Summit Sponsors is MIBS/Tata Advanced Systems. They will be showcasing the critical operational capabilities required for handling cyber security. The 11th Mobile Money & Financial Inclusion Summit 2020 will be co-located with the 3rd Emerging Asia E-Commerce & Last Mile Logistics Summit 2020. Both events will be dedicated to explore the challenges and opportunities of the rapidly-changing landscape with emphasis on technology, innovation and shaping reforms for the benefit of the region. Conference organizer Magenta Global (Singapore)'s CEO, Maggie Tan, added: “Companies must adapt to the rapidly evolving geopolitical, banking and financial landscape. The journey to financial inclusion will require a continuous investment in technology, coordinated participation and strong collaboration among mobile operators, finance and payments companies, technology companies and government agencies. We are very excited to present the 2020 Summit which will provide an operationalization platform for the industry to share practices and innovation. We invite all companies in this whole new emerging ecosystem to join and engage the industry at this Summit.” The Summit will be held at the ParkRoyal Hotel in Yangon, Myanmar. Magenta Global Pte Ltd Contact: Jose Carpio International Marketing Manager DID: +65 6846 2366 Email: jose@magenta-global.com.sg Notes for Editor: About Magenta Global – Owner & Organizer Magenta Global Pte Ltd is a premier independent business media company that provides pragmatic and relevant information to government and business executives and professionals worldwide. The organization provides the opportunity to share thought- provoking insights, exchange ideas on the latest industry trends and technological developments with thought leaders and business peers. With a strong focus in emerging economies especially in Africa, Middle East and Central Asia, Magenta Global works in partnership with both the public and private sectors. www.magenta-global.com.sg.