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Digital innovation is transforming the finance industry, with advances in financial technology such as mobile money, peer-to-peer lending, robo advice, and InsurTech reshaping many areas. Technology advances in connectivity, data processing, and storage have enabled the creation of huge amounts of capturable data, new tools to analyse data, and new business models. This has made the finance industry more diverse, competitive, efficient and inclusive, while also increasing access to finance. There are now more than 5 billion mobile subscriptions worldwide, and nearly 1.6 billion registered mobile money accounts in 2022.