Assessment of consumer risks related to digital financial services and digital credit

Assessment of consumer risks related to digital financial services and digital credit, with a focus on women and rural zones

The study aimed to provide an analysis of the risks associated with the use of Digital Financial Services (DFS), and digital credit in particular, with specific attention paid to female clients and to clients living in rural zones. The results of this study will contribute to CGAP’s Consumer Protection Lab on the use of DFS in the WAEMU zone. The study included: 

• An analysis of customer complaints and claims filed with Financial Institutions, Mobile Money providers, and national out-of-court redress bodies; an analysis of the providers’ processes to handle customer complaints; and recommendations on possible improvements.
• Two quantitative customer surveys on: (i) the risks associated with the use of DFS, and (ii) the impacts and risks related to digital credit. A specific focus was made on the uses and risks to which women and people living in rural areas are exposed

The summary report is available on CGAP’s website