Technology for Enabling Data-driven Decision-making in LDCs: Solutions deployed in Congo, Ghana, and Rwanda

The development of innovative new technologies is transforming the money transfer industry, which can potentially make cross-border remittances safer, faster, cheaper, and more effective. Likewise, technology can improve the implementation of international methodologies to advance data collection efforts of central banks and national statistical offices, foster financial inclusion, and strengthen financial integrity. Investing in technology also enables more accurate remittance data that clearly impacts the components of remittance-dependent countries’ sovereign credit ratings, with the positive impact of remittances in financing the deficit affecting the balance of payments, size of the economy, economic growth, and external finance flows. As part of UNCDF’s webinar series on Better Remittances Data for Better Decisions, this webinar will showcase ways to use technologies to remediate the challenges with digital transformation—e.g., in managing reporting and process automation for remittance data—to bring precision, safety, and stability to the mobile money and digital remittance markets, especially in LDC countries. Eminent panelists from GVG, Regnology, and Sunoida will present technology solutions implemented in Congo, Ghana, and Rwanda where the systems have helped authorities improve policy formulation and address the gender gap in enabling access to financial services.