Is Data Privacy Good for Business?
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As digital financial services grow rapidly, so do concerns over data privacy and protection especially for poor customers who are particularly vulnerable to abuses and injury from lax data policies. CGAP set out to test how much poor people value their data privacy and whether there was a business case for financial services providers to offer better data protection. The results from six experiments in Kenya and India make the case that customers will choose products with data policy and protection features built in, and they are willing to pay for them. This opens an avenue for voluntary self-regulation in markets that do not have strong consumer protection and data policies in place.
|Document Type||Technical Note|
|Author||Maria Fernandez Vidal and David Medine|
|Year of Publication||2019|
|Publisher||Consultative Group to Assist the Poor (CGAP)|
|Number of Pages||12 pages|
|Region / Country||Global /|
|Primary Language||English (en)|
|Keywords||Customers, Donors and Investors, Business and markets, South Asia, Sub-Saharan Africa, Kenya, India|