FinTech in Uganda: Implications For Regulation

84 Pages Posted: 30 Jun 2020

See all articles by Philip Rowan

Philip Rowan

affiliation not provided to SSRN

Kieran Garvey

University of Cambridge - Cambridge Centre for Alternative Finance

Bryan Zheng Zhang

Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge

Miguel Soriano

Singapore Management University - Lee Kong Chian School of Business

Zain Umer

affiliation not provided to SSRN

Katherine Cloud

University of Cambridge - Cambridge Centre for Alternative Finance

David J Cracknell

affiliation not provided to SSRN

Anup Singh

MicroSave

Sam Kutosi

affiliation not provided to SSRN

Doreen Ahimbisibwe

MicroSave

Date Written: November 7, 2018

Abstract

FinTech holds great potential for both financial inclusion and economic development in a wider sense. Digital financial solutions have been expanding access and reach to consumers, especially the unbanked and under-banked. They have been significantly lowering the costs of providing financial services, making it possible to serve the base of the pyramid in a more profitable way. Fintechs have also enabled new business models that offer expanded services to customers and continue to generate new revenue streams for financial service providers.

FSD Uganda, the Cambridge Centre for Alternative Finance (CCAF), and MicroSave collaborated to assess FinTech in Uganda, and its implications for policymakers and regulators. This study outlines key priority areas necessary for regulatory and policy development in Uganda to address the challenge of facilitating responsible development of inclusive digital finance. It draws upon insights, experiences, and best practices with respect to the regulatory and policy developments of FinTech from a number of other leading regulators and standard-setting bodies around the world, including the UK, Kenya, Australia, South Africa, the Financial Stability Board, and the International Monetary Fund.

Keywords: FinTech, Regulation, Uganda, Africa, Payments, Mobile, Savings, Lending, Alternative Finance, Insurance, Digital Identity, Financial Inclusion

JEL Classification: F65, G18, G28, G38, K2, K22, O3, O31, O32, O38, O55, O1,

Suggested Citation

Rowan, Philip and Garvey, Kieran and Zhang, Bryan Zheng and Soriano, Miguel and Umer, Zain and Cloud, Katherine and Cracknell, David J and Singh, Anup and Kutosi, Sam and Ahimbisibwe, Doreen, FinTech in Uganda: Implications For Regulation (November 7, 2018). Available at SSRN: https://ssrn.com/abstract=3621272 or http://dx.doi.org/10.2139/ssrn.3621272

Philip Rowan (Contact Author)

affiliation not provided to SSRN

Kieran Garvey

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

Bryan Zheng Zhang

Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge ( email )

Trumpington Street
Cambridge, CB2 1AG
United Kingdom

HOME PAGE: http://www.jbs.cam.ac.uk/ccaf

Miguel Soriano

Singapore Management University - Lee Kong Chian School of Business ( email )

469 Bukit Timah Road
Singapore 912409
Singapore

Zain Umer

affiliation not provided to SSRN

Katherine Cloud

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

David J Cracknell

affiliation not provided to SSRN

Anup Singh

MicroSave ( email )

B-52, Mahanagar Extension
Kapoorthala
Lucknow
India

Sam Kutosi

affiliation not provided to SSRN

Doreen Ahimbisibwe

MicroSave ( email )

B-52, Mahanagar Extension
Kapoorthala
Lucknow
India

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