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IFC Launches its DigiLab Programme in the Middle East and Africa to Help Financial Institutions Improve Digital Services

DigiLab Finance is a capacity building programme that equips selected financial institutions – including banks, microfinance institutions and digital financial services providers – with practical knowledge and tools to help them develop digital strategies, helping them adapt and adopt to technological trends accelerated by the COVID pandemic and improve customer relations. The first 4 financial institutions come from Ethiopia, Ghana, Nigeria, and Zambia and began the 6-week online DigiLab programme on June 1.

At the end of the training programme, participating financial institutions present their strategies and roadmaps for implementing a digital strategy to a panel of experts that provides feedback to help them incorporate improvements to their digital finance operations. IFC (the International Finance Corporation – a part of the World Bank) introduced DigiLab Finance in Latin America and the Caribbean in 2018 and then in Europe and Central Asia in 2020. Since it started, DigiLab has assisted 23 financial institutions to implement new business structures, launch digital products that better serve customer needs, and explore partnerships with FinTech’s or other tech providers.

Alastair Tempest

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