The International Finance Corporation (IFC) launched its DigiLab Finance training and support programme to increase financial inclusion as well as support the digital transformation of financial institutions across Africa and the Middle East. DigiLab Finance is a capacity building programme that equips selected financial institutions with practical knowledge and tools to help them develop digital strategies, helping them adapt and adopt to technological trends accelerated by the COVID-19 pandemic and better serve their clients.
At the end of the six-week 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 introduced DigiLab Finance in Latin America and the Caribbean in 2018 and then in Europe and Central Asia in 2020. Since its launch, DigiLab has supported 23 financial institutions to implement new business structures, launch digital products that better serve customer needs, and explore partnerships with fintechs or other tech providers.