The Interledger Community 🌱: Sarah Corley

AllianceDFA Core Support — ILF Grant Progress Report

Sarah Corley — Thu, 15 Oct 2026 16:16:19 +0000

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Brief Project Description

The Alliance of Digital Finance and Fintech Associations (AllianceDFA) connects and aligns digital finance and fintech associations globally to synthesise private sector perspectives, strengthen industry capacity and advance inclusive and responsible digital financial services. Through its global network, AllianceDFA facilitates peer learning, develops practical resources, convenes industry stakeholders, generates evidence, supports policy engagement and creates opportunities for collaboration. Interledger Foundation’s support contributes to AllianceDFA’s organisational capacity and its ability to deliver activities that strengthen associations, connect ecosystem stakeholders and ensure that diverse private sector perspectives inform the development of digital financial systems.

Project Update

AllianceDFA has continued to strengthen its global network, expand its programme of activities and increase its contribution to digital finance ecosystem development during the reporting period.

Strengthening the global network and institutional capacity

Membership expanded to 43 associations, including the USA through Miami Fintech Club.
Member engagement continued through regular monthly meetings covering topics including data and AI readiness, ecosystem networking, presentation from Miami Fintech Club, and network leadership principles.
A member-focused newsletter has been added, which showcases a member in the spotlight each month, as well as sharing opportunities and activities happening within the network.
Two new board members were appointed during Q3: John Patrick (J.P.) Ellis of Indonesia Fintech Association and Josefina Movillo Matta of FinteChile.
A new Member and Partner Committee is also being established to strengthen regional representation and engagement.

Developing knowledge and practical resources

AllianceDFA practical resources for the sector, including How to Pitch guides in English, Portuguese and French.
Two Data Maturity and AI Readiness workshops, delivered with Data.org, attracted 122 participants from 36 countries.
A Focus Note with AfricaNenda on Making Non-Bank Participation in Inclusive Instant Payment Systems a Reality in Africa was published.
AllianceDFA appeared on the Women’s World Banking podcast: From Invisible to Investable: How Fintech Can Unlock Growth for Women Entrepreneurs
AllianceDFA were a panellist on the webinar: Joined-up Regulation for Digital Financial Protection in Emerging Markets – Early insights and next steps organised by Financial Innovation for Impact
AllianceDFA were a panellist on the webinar Digital Public (Financial) Infrastructure, Human Rights and the Policy Choices That Determine Who Gets Left Behind, led by the Interledger Foundation as part of Financial Inclusion Week 2026.

Convening stakeholders and supporting policy dialogue

The global launch of Questioning IPS Design Inclusivity: Unlocking Fintech and Non-Bank Participation in Domestic Instant Payment Systems attracted 303 registrations and 117 unique attendees from 57 countries. The recording is available to watch here.
In addition to the global launch, six local IPS launch events were held in partnership with associations in Cameroon, Chile, Kenya, Tanzania, Nepal and Nigeria, with a seventh scheduled in Q4 of 2026. 84 participants attended the six sessions and some of the actions agreed are:
The Payment Service Providers Association of Nepal are consolidating feedback from members at the event into a position note for follow-up engagement with relevant regulatory bodies. The discussion confirmed that the assessment’s five findings resonated strongly with the participants and with Nepal’s current digital payments landscape.
ADFP Nigeria are establishing a working group to document the true cost of IPS participation and models that both lower the cost to consumers but support a business case for fintechs. Nigeria’s instant payment system has been comparatively fair to non-banks in terms of pricing, channel breadth and use-case coverage. Switching fees are negligible (NGN 3.75 per transaction), and consumer fees are capped. The main costs of participation therefore lie elsewhere, particularly in licensing, capital requirements, collateral and historically bespoke integration, rather than transaction fees themselves However, structural asymmetries persist. Non-banks have historically participated indirectly through sponsor banks, while governance and board representation remain weighted towards banks and the Central Bank of Nigeria (CBN). Furthermore, although payments appear instant to end users, settlement is not truly instantaneous. Deferred net settlement across four daily windows means that interbank credit and liquidity risks remain between the time a payment is made and final settlement.
FinteChile will develop a technical short-form legislative proposal ("ley corta") tailored to the needs of the fintech sector. The objective is to contribute to future regulatory discussions aimed at increasing the participation of fintechs and non-bank actors in IPS. Additional research, incorporating a Chile-specific case study together with the insights gathered during the session should be produced with recommendations and set to appropriate authorities. A technical working group is to be established to draft the proposal and prepare the supporting document.
The discussion led by the Digital Financial Practitioners Association of Kenya has a strong consensus that interoperability should be treated as a founding principle rather than an outcome left to the market, and that a low-cost platform is non-negotiable. Calls were made for a clear framework governing the switching environment, including possible caps on transaction values and fees. Success, it was argued, must be measured on both usage and adoption, not adoption alone. The legal and regulatory framework was identified as both enabler and barrier. Concerns centred on the National Payment System (NPS) Act — in particular that its structure, including a requirement for a PSP licence per payment service scheme and liquidity requirements for non-bank participants, effectively squeezes out fintechs and makes entry difficult. The recurring question was whether a clear business case exists, and whether reform is realistic this year or a post-2027 agenda.
The discussion led by Tanzania Fintech Association felt the cost of participation was the biggest barrier. The cost to integration was high due to the multitude of APIs and requirements, the fees to integrate and transact with a sponsor bank was high. There was a call for arrangements that support aggregation for fintechs to onboard to Tanzania Instant Payment System (TIPS) that is cost effective and efficient.
AllianceDFA are working with the Association of Governance, Risk and Compliance (AGRC) on a working group examining the cost of ongoing regulatory compliance for micro, small and medium-sized financial service providers. The White Paper and webinar will launch in Q4 2026. More about the project can be read here.

Project Impact & Target Audience(s)

AllianceDFA’s primary audience is national digital finance and fintech associations and their members, including fintechs, banks, mobile money providers, insurtechs and payment service providers.

Our work places particular emphasis on small and medium-sized fintechs and financial service providers, whose perspectives are often underrepresented in industry discussions and regulatory engagement. These providers frequently play an important role in reaching underserved and unserved populations with innovative financial solutions.

By strengthening associations and amplifying the perspectives of these providers, AllianceDFA aims to support the development of inclusive and responsible digital financial services that improve financial health and well-being.

AllianceDFA is actively expanding its engagement with fintech associations across Latin America and the Caribbean (LAC). Miami Fintech Club has been onboarded as a member, bringing connections across the US, Caribbean and Latin America. We have also initiated engagement with associations in Peru, Argentina, Brazil and Mexico to broaden regional representation within the network. The Executive Director of FinteChile has also been appointed to the AllianceDFA Board to support our connections within LAC.

In December, Sarah Corley will attend a regional event in Costa Rica organised by the Luxembourg House of Financial Technology (LHoFT) and the Inter-American Development Bank (IDB). The gathering will bring together fintech associations from across the LAC region, alongside regulators and fintechs, providing an important opportunity to strengthen relationships with prospective members and support further onboarding. It will also deepen AllianceDFA’s understanding of the region’s fintech ecosystems and regulatory landscape, helping to inform future engagement and collaboration.

Communications and Marketing

All AllianceDFA activity is published to our LinkedIn page and website. I have embedded links within the report to help navigate to specific publications and information.

What’s Next?

AllianceDFA are in the process of launching four new initiatives to support member-led collaboration and industry development. These include
1) Thematic Forums,
2) Thinking Room
3) Ready · Trusted · Investable knowledge series to for fintechs and FSPs
4) Database of members

1) Thematic Forums
AllianceDFA Thematic Forums bring members and invited participants together to exchange experience, explore shared challenges and identify opportunities for collaboration across digital finance and fintech. Discussion-led but action-oriented, each Forum is led by one or two AllianceDFA members with relevant expertise, who facilitate discussions and capture key insights.

The Forums create value by enabling associations and their members to learn from peers, helping Forum Leads share expertise and build connections, informing AllianceDFA’s priorities and activities, and bringing diverse perspectives together to strengthen understanding of industry challenges and opportunities. Read more here.

2) Thinking Room
Thinking Rooms are peer-to-peer sessions that provide a collaborative space for AllianceDFA members to explore an idea, challenge or problem with others in the network. Rather than presenting finished solutions, participants draw on shared experience, constructive challenge and collective thinking to generate fresh perspectives, explore potential approaches and learn from one another.

Any AllianceDFA member association can request a session, either to lead the discussion themselves or bring one of their members to present a challenge. The format encourages open, practical and collaborative discussion, helping participants develop ideas, identify opportunities and benefit from the collective expertise of the network. Read more here.

3) Ready – Trusted – Investable Series
Ready · Trusted · Investable is designed to support fintech founders at different stages of their journey, from early-stage ideas to business growth and international expansion. The series aims to provide practical insights from people with experience in building, scaling, investing in and regulating fintech businesses, while creating opportunities for collaboration between founders and wider ecosystem stakeholders.

The programme will feature regular one-hour sessions exploring four themes: Inspiration, sharing founders’ experiences and lessons learned; Innovation, examining emerging technologies, trends and changing customer needs; Building, focusing on investment readiness, regulatory compliance and business viability; and Expanding, addressing new markets, regulatory requirements and partnerships.

Through a combination of practical workshops, fireside chats, panels and webinars, the initiative aims to equip founders with relevant knowledge, fresh perspectives and practical approaches to support their growth, while building a global community of founders and ecosystem leaders, including financial institutions, investors and regulators.

4) Member Database
The member database is being developed to create a central record of the people leading and working within AllianceDFA member associations, including their roles, expertise and areas of interest. This will help strengthen connections across the network, facilitate peer-to-peer engagement, identify opportunities for collaboration and ensure the right people can be connected to relevant discussions, initiatives and expertise.

Together, these four initiatives are designed to strengthen connections across the AllianceDFA network, make it easier for members to share knowledge and expertise, and turn collective experience into practical action. They create structured opportunities for members to collaborate on shared challenges, contribute their expertise, connect with relevant peers and access insights that support their work and the wider industry. By linking people, ideas and opportunities across the network, the initiatives aim to build a more connected and engaged community, strengthen member-led collaboration and increase AllianceDFA’s capacity to identify emerging priorities and catalyse collective action.

Community Support

Please do sign up to join our webinars, thematic groups and other initiatives. All opportunities are posted to our LinkedIn Page.

Additional Comments

Questioning IPS Design Inclusivity: Unlocking Fintech and Non-Bank Participation in Domestic Instant Payment Systems

Sarah Corley — Fri, 17 Jul 2026 14:31:55 +0000

Project Description
The Alliance of Digital Finance and Fintech Associations (AllianceDFA), in partnership with Contigo Global LLC, was awarded a public policy activation grant from the Interledger Foundation (ILF) to lead a new global initiative aimed at making Instant Payment Systems (IPS) more inclusive and accessible to fintechs, and non-banks. The project‘s focus is to identify and document the challenges and successes that fintechs and other non-banks are experiencing in their markets, and will explore ways to strengthen the voice of inclusive finance actors in IPS governance, while identifying solutions to overcome the barriers that limit their integration and impact.

The interim progress report is available here: https://community.interledger.org/sarah_747/midterm-report-making-ips-more-inclusive-and-accessible-to-fintechs-and-non-banks-assessment-2p5k

Project Update
The project progressed very well overall, although the timeline was extended by one month due to four key factors:
Availability of fintech associations and focus group participants: We learned that January is a particularly slow period for engagement, especially across Asia and Latin America. Securing focus group dates required persistence, leveraging personal relationships, and dedicated outreach, but ultimately we successfully conducted 17 of the planned 18 focus groups and engaged five associations across Latin America and the Caribbean. The focus groups brought together participants from countries across three continents, Latin America and the Caribbean, Africa, and Asia, representing a diverse range of contexts, from small to large economies and populations, and from emerging to more established IPS ecosystems.

The volume and quality of insights generated: The focus groups produced exceptionally rich and detailed insights. As a result, the time required to process, categorise, analyse, and write up the findings was greater than originally anticipated, and the final assessment was approximately double the length initially planned. We also captured many powerful participant quotes, which we felt were important to include to ensure authentic voices were reflected throughout the assessment and to strengthen its overall impact.We believed the additional time and expanded length were warranted given the consistency of findings emerging across regions and stakeholder groups, as well as the value of documenting the depth and nuance of participant experiences and perspectives.

The intentional design of the methodology and focus groups: The methodology and focus group design were highly deliberate and proved to be very effective. Given the strength of the engagement and resulting discussions, we also included an additional section outlining what we identified as the five key factors that contributed to generating such high-quality insights. This section was titled Five Design Principles for Inclusive Private Sector Engagement.

Decision to peer review before publishing: To further strengthen the quality and credibility of the assessment, two external peer reviews were conducted at different stages of the process. A detailed technical review was undertaken by Arunjay Katakam, whose feedback informed a series of refinements to the structure, framing, and articulation of the findings. Following these revisions, a second high-level review was conducted by David Porteous to provide an additional perspective on the overall coherence and positioning of the assessment.

The peer review process helped validate that the findings were well connected, clearly explained, and supported by a coherent methodology and narrative flow. Feedback from reviewers reinforced the strength of the assessment and the relevance of its core themes. David described the assessment as “clear and compelling”, while Arunjay highlighted in particular the way the research “surfaced the tension between acquisition-phase incentives and long-term sustainability of IPS” and noted that “reframing governance as a determinant of accessibility rather than merely an administrative function is an important point.”

The assessment has been published and is available here: https://alliancedfa.org/2026/05/19/questioning-ips-design-inclusivity-unlocking-fintech-and-non-bank-participation-in-domestic-instant-payment-systems/

The assessment's value has been further validated through its acceptance by FinDev Gateway as a resource in their online knowledge bank, broadening its visibility among global financial inclusion practitioners https://www.findevgateway.org/paper/2026/05/questioning-ips-design-inclusivity-unlocking-fintech-and-non-bank-participation-in

*Project Impact & Target Audience(s) *
The research surfaced perspectives that have not been captured in discussions on IPS. In selecting markets and participants, deliberate effort was made to engage a broad mix of countries and to ensure representation from smaller fintechs, non-bank providers, and early-stage firms, and countries researchers often overlook. These actors are less visible in policy and industry dialogue, despite operating closest to underserved customer segments and being highly affected by infrastructure, access, and regulatory decisions. Their contributions added important practical insight into how IPS design and governance decisions can influence innovation, competition, and the ability to reach financially excluded groups.

The project also demonstrated strong engagement among ecosystem stakeholders. Participating associations highlighted the usefulness of the findings for informing advocacy priorities, member engagement, and dialogue with regulators and IPS operators. Across regions, there was clear interest not only in the final findings themselves, but also in opportunities to better understand how similar challenges are being approached in other markets.

This created momentum beyond the research process alone. The assessment and planned dissemination activities (including webinars and local events) are therefore intended to support ongoing peer learning and collaboration between associations and ecosystem actors, while helping translate shared experiences into stronger advocacy, programme design, and policy engagement.

Within the findings section of the assessment, attention is also given to the potential implications of identified barriers for underserved consumer groups. Each section includes an Impact on Marginalised Communities component, exploring how the findings may affect groups such as women, rural populations, and people with disabilities. These reflections draw on existing research and, where relevant, insights shared by contributors. They are intended to provide contextual interpretation of the possible downstream effects of the identified barriers and enablers, rather than present primary findings generated directly through this assessment.

Progress on Objectives

Supporting membership deepening within AllianceDFA, particularly in Latin America and the Caribbean.
Deliverable met with the onboarding of FinteChile. In addition, Miami Fintech Club is being onboarded in May 2026, which has members from the US, Caribbean and Latin America, which will support our reach in the region.
Produce a published Assessment on the Deeper Needs & Challenges of FinTechs in Integrating into their local IPS.
Deliverable met, the assessment has been published: https://alliancedfa.org/2026/05/19/questioning-ips-design-inclusivity-unlocking-fintech-and-non-bank-participation-in-domestic-instant-payment-systems/
Internal Assessment: An Internal Set of Recommendations on What Deeper Solutions Could Serve the Global FinTech Ecosystem to Increase Inclusive Governance.
Deliverable met, the assessment has been submitted to and received by the Interledger Foundation.

Communications and Marketing
The report's launch was marked by a coordinated global outreach effort: six local events and one global webinar delivered across a 10-day period in June 2026. Each local event was led by the respective association partner engaged in the IPS assessment, spanning six markets, Cameroon, Chile, Kenya, Nepal, Nigeria, and Tanzania, and convening approximately 60 participants in total. A seventh event, in the Caribbean, is scheduled for July, following the launch of BimaPay, the region's own IPS, in Barbados.

These local events were designed to sustain the momentum of the original research, creating a direct feedback loop with the focus groups that shaped the assessment. Findings were debated in-market, priority areas for continued advocacy were identified, and association partners will carry the advocacy forward, with AllianceDFA's ongoing support.

These events culminated in a global webinar on 18 June, with the following speakers :

Ayden Ferdeline – Interledger Foundation
Jacqueline Jumah - AfricaNenda
Holti Banka - World Bank
Selassie Tay, CEO - Accelerex (Ghana)
Constanza Munoz Torrez, Chief Legal Officer - ProntoPaga (Chile)
Arianne Ferrer, Director of External Affairs - Tala (Philippines)
Danielle Lawrence, COO at FINASA (South Africa)
Nandini Harihareswara, Director, Contigo Global

The session opened with Sarah and Nandini presenting the assessment's methodology, the role of associations in the research, and its five key findings. This was followed by a panel of four fintech representatives, who grounded the findings in lived market experience, offering candid, practical examples of the barriers and enablers shaping fintech participation in IPS across their respective regions.

The webinar closed with panel, moderated by Nandini, drawing together global perspectives on the Inclusive IPS agenda. Holti Banka of the World Bank spoke to the critical role fintechs play in advancing inclusive payment infrastructure, a view reinforced by a statement from AfricaNenda, delivered in writing after Jacqueline was unable to join in person due to illness. The session closed on a clear, unifying message: for instant payment systems to genuinely serve new and underserved consumers, IPS design must move beyond incumbents to actively accommodate fintechs and non-banks, and enable them to build new products and services on the rails.

The webinar itself underscored the scale of global interest in this agenda: 303 registrations and 117 unique participants (39% attendance rate), drawn from 57 countries, a footprint that speaks to the breadth of the assessment's international relevance.
In addition, opportunities will be explored to present the findings through conferences and webinars hosted by partner and peer organisations, as well as through collaborative dissemination activities such as blogs, articles, and podcasts. This will include collaboration with organisations such as Interledger Foundation to help broaden the reach and visibility of the work.

What’s Next?

Following dissemination of the findings, we plan to assess which themes resonate most strongly with stakeholders, where there is greatest appetite for further engagement, and which issues partners, including central banks, IPS operators, and ecosystem actors, may be most interested in advancing. These insights, alongside recommendations provided to Interledger Foundation, will help inform opportunities for future collaboration, funding, and follow-on activities aimed at strengthening the inclusivity of IPS for fintechs and non-bank providers.

Midterm Report: Making IPS More Inclusive and Accessible to FinTechs and Non-Banks Assessment

Sarah Corley — Wed, 18 Feb 2026 17:32:15 +0000

Project Description
The Alliance of Digital Finance and FinTech Associations (AllianceDFA), in partnership with Contigo Global LLC, was awarded a grant from the Interledger Foundation (ILF) to lead a new global initiative aimed at making Instant Payment Systems (IPS) more inclusive and accessible to FinTechs, and Non-banks. The project‘s focus is to identify and document the challenges and successes that FinTechs and other Non-banks are experiencing in their markets, and will explore ways to strengthen the voice of inclusive finance actors in IPS governance, while identifying solutions to overcome the barriers that limit their integration and impact.

Project Update
The project aims to engage focus groups in 18 countries. To date, we have spoken with groups in six countries — Chile, Nepal, Nigeria, India, Ghana, and Kenya — with seven additional focus groups scheduled and five pending. To ensure holistic inclusion, we are intentionally targeting a mix of countries with established Instant Payment Systems (IPS) as well as those with emerging payment systems or markets still deciding which IPS to build or integrate. We are also prioritizing countries with unique market features to test whether the common barriers and enablers we have identified resonate across contexts, and to surface new insights from diverse environments. Across these discussions, stakeholders are sharing both challenges and successes related to the governance of existing payment infrastructure.

In addition, while we are on track in reaching our targeted number of countries in Asia and Africa, we are currently struggling getting traction in several Latin America and Caribbean markets. In LAC, we have confirmed interviews with Chile and the Caribbean, and possibly Peru and the Bahamas. However, despite several "pings" through Whatsapps and emails from AllianceDFA, we have not yet been able to get firm confirmations from Brazil, Colombia, Mexico or Uruguay, due to prior commitments and holidays.

We were mindful of not creating an experience where associations felt we were extracting contacts and insights without offering meaningful value in return. The associations involved in this work vary widely in their capacity, some operate with more than twenty staff and robust budgets, while others are volunteer‑run with annual resources of less than $1,000. Inviting their participation meant drawing on their time, networks, and knowledge, and it was important to us that the benefits flowed both ways.

A few of the most resource‑constrained associations asked whether a small financial contribution could be provided for their involvement. This did slow momentum in some markets as this was not possible within the current project budget. Fortunately, the inherent value of the research was recognised and we were able to identify alternative ways to ensure their contributions were acknowledged and value gained. We are also still exploring ideas with the Interledger Foundation team that create recognition of the value that associations shared.

We began by asking a simple question of our members: what would make participation in this research both feasible and genuinely valuable? The early conversations were candid. Members told us that response rates to research are often low and that anything demanding multiple meetings would struggle to land. They stressed that the process must not feel extractive; participation had to offer concrete benefits to their members and also for themselves as an association. This guidance shaped our design decisions.

Together with associations, we agreed on a single 90-minute session per market. We fused a short, anonymous survey with a facilitated discussion so that participants could identify priorities while also explaining the context behind them. Where a discussion ran long, or where someone could only join for 60 minutes, we followed up to complete the survey afterward, keeping our promise on time while protecting data quality.

To earn trust and ensure a positive response to the invitation and the focus group experience, we invested in how we invited people to participate. We sent personalised emails that framed the global significance of the work and explained why their market mattered. We shared the discussion topics in advance to reduce uncertainty and support an open, transparent dialogue. We also emphasised the Chatham House Rule and offered optional attribution as recognition of participants’ time and contribution. The invitation introduced all convening organisations (AllianceDFA, Contigo Global, the local association, and the Interledger Foundation) to demonstrate the credibility and legitimacy of the work. Co-branding with the local association signalled shared ownership and reinforced the standing of both the association and the research team.

Choosing to partner with AllianceDFA member associations added tangible value through their practical, context-specific guidance and deep local connections. Associations shared what typically works for their members, such as preferred meeting days, communication channels, and notice periods, and advised on the most appropriate way to manage invitations in their markets. Their networks were also instrumental in identifying the right participants to participate. We aligned our methodology with their recommendations, which has contributed directly to the success of the engagement so far.

We also deliberately gave associations choice in how they wished to be involved, recognising that they were leveraging their own reputations and relationships. In some markets, the association chose to take a leading role in sending invitations and convening, whilst others preferred this to be led by AllianceDFA with association endorsement. We adapted to each market’s preference while ensuring consistency in acknowledging and thanking associations as partners throughout the process.

At the start of each session, we ensured that everyone shared a common understanding of the focus of the research: formal Instant Payment Systems (IPS). To support this, we used a concise slide deck that defined what an IPS is and provided familiar examples (e.g. India’s UPI, Brazil’s PIX, Ghana’s GHIPPS, and Tanzania’s TIPPS) to anchor the discussion and its focus. Participants were invited to name their own IPS and comment on its level of maturity where one existed. These steps helped prevent misunderstandings and ensured that contributions were focused on the topic of IPS.

We introduced five broad categories of potential enablers and barriers using deliberately neutral language such as, “In some markets we have heard…” or “You may have…” to avoid implying that these factors necessarily applied to their context. The intention was to provide a starting point for the conversation without leading participants toward particular answers. We emphasised that they were not expected to comment on every category and should instead focus on what genuinely felt relevant or significant in their market. This approach allowed participants to surface their own priorities while ensuring the discussion remained unbiased and participant-led.

Our facilitation approach was designed to encourage contributions from every participant and to guide the group toward a collectively validated understanding of the market’s barriers and enablers. We kept video on and invited others to do so when bandwidth allowed, used the hand-raise feature to manage turn-taking and ensured no single participant dominated. The most productive moments were when people challenged and built on one another’s experiences; associations often validated whether a point matched what they heard across their membership, giving our findings breadth, depth and validity.

We have found that some associations we approach do not have the interest or capacity to host a session. In these cases, we are pivoting to using our own personal connections and networks, and those of the Interledger Foundation, to convene a group of relevant stakeholders directly and asking them to invite a small number of peers. This approach allows us to include these markets and capture their perspectives; however, we recognise that association-led sessions typically yield a more diverse and representative group, which in turn supports the surfacing of a wider range of voices and insights.

Project Impact & Target Audience(s)
We have included markets within our work that are interesting yet are not often researched or written about in research relating to IPS and/or fintech. Within these focus groups, we have also prioritised hearing from the smaller fintechs, non-banks and start-ups. The voices of these entities are often under-represented in both a local and global stage, yet are at times even more impacted by national payment infrastructure and policy decisions. They also are the actors in the digital finance ecosystem which are most likely currently serving or aspiring to serve marginalised consumers, such as women, rural dwellers and micro/small entrepreneurs. They often have a greater insight into the needs of these consumers and can also bring important perspectives on their needs and the impact of decisions on the ability to serve these consumers.

The value proposition for participants is: sharing their experiences in a global study, contributing to cross-market learning, and gaining insights from other jurisdictions once the results are shared. For associations, the work provided several benefits: new insights that could inform their strategic planning and strengthen their in-country advocacy with central banks or IPS operators; visibility through co-branding; and an activity they could report back to their members as part of their annual programming. Participants and associations expressed eagerness to read the report.

What is emerging as being important to associations and participants, is the request to share back what we are learning through the process. The final assessment, alongside a series of complimentary webinars and knowledge products, will equip participants and associations with insights on the common challenges and ideas for best practices. Associations can use the information to strengthen their own advocacy strategies and programming. Several associations have also expressed desire to participate in cross‑country learning, envisioning a space where associations can collectively explore best practices and collaborate on shared advocacy priorities. This interest underscores the potential for the project not only to gather knowledge but to catalyse networks of peer learning that support collective and local action.

Progress on Objectives
We have 3 Key Deliverables:
1 - Supporting membership deepening within AllianceDFA, particularly in Latin America and the Caribbean. Update & Progress: Deliverable met with the onboarding of FinteChile. In addition, Fintech Armenia and PSP Association Nepal have been onboarded, bringing total membership to 42. Chile and Nepal are participating in the IPS research. Discussions are ongoing in other LAC countries as well as with a new association currently in formation in the region.

2 - Produce a published Assessment on the Deeper Needs & Challenges of FinTechs in Integrating into their local IPS. Update & Progress: We are concentrating our energies on scheduling and implementing focus groups. We aim to be finished with focus groups by mid-February, and will move into writing the report ready for publishing in March.

3 - Internal Assessment: An Internal Set of Recommendations to Interledger Foundation on What Deeper Solutions Could Serve the Global FinTech Ecosystem to Increase Inclusive Governance. Update & Progress: Our internal assessment relies on feedback from focus groups, and we will work on clarifying and refining these recommendations once the focus groups have been concluded in mid-February. Based on the first 5 focus groups completed, the original set of potential deeper solutions has merit. However, we are seeking more data to understand how these solutions address the common challenges we are hearing. We are including a quantitative survey within our focus group discussions to help us analyze these potential solutions and their utility more closely.

Communications and Marketing
AllianceDFA has published the approved press release on their website and has included the language in their messages to member Associations. Other than the approved press release, we have not yet published any social media. We are concentrating on scheduling and having focus groups.

What’s Next
We remain optimistic that we will complete our interviews and deliverables by March 13.

Community Support
If any ILF community members have good connections with the FinTech associations in Mexico, Brazil, Colombia or Uruguay, please reach out to Sarah Corley: sarah@alliancedfa.org