 Good evening and welcome to day one of the Fiji Symposium in Bangalore, a platform for all talks and dialogues on financial inclusion. And we have with us from the World Bank, Mr. Douglas Pierce. Welcome to the Fiji Symposium. First of all, tell us, how does it feel to be part of the first ever Fiji Symposium? It's great to have it finally started. It's been, this is an important initiative for us at the World Bank Group. And the Symposium is the first big event that's taking place in this three-year program. So great to be here and it's also, it's great to see the strong engagement of the telecoms regulators, of fintech firms and of leading IT industry actors. So that's a very welcome development, as well as the financial sector engagement, which is also very strong. So could you tell us more about the potential, about digital financial services in increasing financial inclusion? Sure, we see technology and digital technologies and innovative practices as essential to reach full financial inclusion. Financial inclusion is expanding at an impressive rate, particularly in India. But to get to the difficult to reach groups, the higher cost underserved groups where information symmetry is a problem, where there just isn't the data to a price risk accurately, where the data isn't available to tailor products to meet people's needs. That's where digital technology comes into its own. The data from transactions, from digital payments, can then inform pricing, risk and can lead to tailored products which meet the needs of underserved people. The other very important area is around reducing costs, the costs of serving people and reaching people. So around use of data, tech mean information symmetry, tailored products, mitigating risks and reducing costs of delivery, a huge potential for technology to enable full financial inclusion to be reached more quickly. What exactly is Fiji and how does it plan to stimulate financial inclusion? Well Fiji is a financial inclusion global initiative. It has three components. One is around the symposium which we're here for. The other two are around country led reforms and actions to improve financial inclusion including through digital technology. For us in the World Bank Group we work with countries who have prioritised financial inclusion as a goal. We work to support them in achieving those goals by implementing a set of reforms and other actions. Through Fiji we put together programs of country support, technical support data, technical partnerships, policy advice. We complement those country programs with the third component of Fiji which is the working groups. And the working groups bring together regulators, industry, academics and others to address gaps. So gaps where the technical tools aren't available for national authorities to take the kind of ambitious reforms which India has done in this area or it can be areas where guidelines or guidance is needed or it could just be a shortage of data and knowledge. So working groups, country programs and symposia we see as the three core elements of Fiji. Also with specifically to the World Bank what are the main concerns and the main issues that they're going to attack to actually bridge the financial inclusion gap? Well at the World Bank Group we have launched a new blockchain lab which is really part of a first stage of our effort to match technology and IT expertise with financial sector expertise and we want to make that available for central banks, for national authorities beyond just blockchain across fintech and technology more broadly. We also have as a priority supporting the capacity of regulators to basically encourage innovation so allowing new entrants, new fintech providers, new types of actors requires the ability of supervisors to identify risks, monitor risks, protect consumers. So there's a capacity challenge there for regulators. Now we want to support regulators and we do very actively support regulators and national authorities in putting in place an enabling framework for innovation and for technology. That can be through regulatory sandboxes, through fintech accelerators. It can be through use of data, applying machine learning to data to mitigate risks or to improve financial literacy. And it can just be the cool work we do with over 60 countries around in putting in place basic payment systems, critical financial inclusion reforms and then enabling the use of data and of entrants of new technologies. All right, that's great. Thank you so much for your time and thank you so much for your answers.