Forming a G20 Fintech Association Forum to Broker International Partnerships Promoting Financial Inclusion in Developing and Emerging Economies

By Krish Chetty, Jaya Josie, Ephafarus Mashotola, Babalwa Siswana, Kim Kariuki, Shenglin Ben, Zheren Wang, Edward Brient, Wenwei Li, and Man Luo

Abstract

Establishing international fintech partnerships is recognised as a crucial strategy to promote the development of the fintech sector. Although such partnerships represent a promising opportunity for growth and greater financial inclusion, the asymmetric power dynamics amongst fintech operators internationally leaves fintech operators in the emerging/developing economies reluctant to partner with the well-skilled and resourced fintech giants. The formation of a G20 Fintech Association Forum provides an opportunity to form partnerships on a level playing field. The G20 provides necessary leadership and trust to overcome barriers to collaboration and partnerships, whilst protecting the interests of small-scale fintech operators.