Many MSMEs across ASEAN are viable - but remain invisible to traditional finance. That insight emerged clearly from a recent discussion on Alternative Data and MSME Lending held on 10 February in Bohol, Philippines, jointly organised by the ASEAN Working Committee on Financial Inclusion (WC-FINC) and the ASEAN–UK Economic Integration Programme (EIP), where 40+ regulators and policy-makers explored how new data sources can help expand access to finance while preserving consumer protection, credit quality, and regulatory trust.

Key reflections from the discussion included:
 

• Alternative data shows the strongest promise in targeted use cases, particularly for MSMEs with limited or no formal credit history
• Responsible data use - including governance, consumer outcomes, and operational resilience - is essential to sustainable impact
• There is no one-size-fits-all approach, policy judgement and local context matter

Across ASEAN, thoughtful policy frameworks around alternative data can help widen access to finance without undermining trust or regulatory legitimacy.

Thank you to ASEAN, The ASEAN Secretariat, #WC-FINC, and participating finance ministries and central banks for a thoughtful exchange, and to colleagues from Foreign, Commonwealth and Development Office/FCDO for their continued partnership.

EIP is pleased to support policy-relevant dialogue that helps translate evidence into real-world outcomes across ASEAN.