The Stories Algorithms Tell: Bias and Financial Inclusion at the Data Margins

This publication explores what algorithms can say about who is creditworthy in emerging markets, the risks for those it leaves out, and what it all might mean for inclusive finance.

The publication has two main objectives:

1. To ground some universal challenges on the use of algorithms, automated decisions, alternative data, and bias in the context of inclusive financial services.
2. To present the current state of play among inclusive finance actors from desk research and interviews with a sample of fintechs, regulators, and other experts.

These insights are aimed primarily at financial inclusion stakeholders who can influence the trajectory of the inclusive finance industry, with specific recommendations for regulators, investors, and donors.