The UNDP, MAS, and other international parties have launched a concept called Universal Trusted Credentials (UTC). This unique concept will enable MSMEs to create digital identities and trusted credentials through a non-collaterized set of date points. Once these UTC are accepted by financial institutions, MSMEs will be able to access a wider and deeper level of financing. This concept has a huge potential to uplift MSMEs globally.
The UNDP will host a session for UTC introducing it as a concept, highlighting its current progress, and seeking areas for which it could further advance. The panel members include senior central bank leaders and financial institution partners.
The aims of the session are to:
1. Advance industry thinking on UTC and specifically around process and benefits.
2. Harness collective experience and best-practices.
3. Connect with different countries in order to expand and deepen UTC use in represented markets.
Elevandi Insights
Roundtable 3
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