Building on the success of DigiLab LAC 1.0 (603362), the LAC Digital Innovation Lab 2.0 program (608955) is an immersive initiative designed to accelerate the digital transformation of financial institutions (FIs). It achieves this by assessing FIs and assisting them in creating comprehensive strategies and roadmaps to advance their digitalization journeys, adopt Open Finance and disruptive technologies, to broaden and deepen their services and enhance both efficiency and profitability. The program will implement activities through three program offerings: 1) Open Finance; 2) DigiLab; and 3) Advisory Services engagements. The program enhances FIs’ digital and innovation capabilities by providing them with the tools and knowledge needed to navigate the rapidly evolving digital financial landscape, improve institutional performance, and strengthen their value proposition. Additionally, it supports financial regulators and supervisory authorities in building capacities to develop policies, procedures, and use cases. Ultimately, the program seeks to foster greater financial inclusion by enabling institutions to expand their reach to underserved population segments and improve socioeconomic conditions in the region. The LAC Digital Innovation Lab 2.0 program will accomplish its objectives through cohort-based sessions and one-on-one engagements. The program can integrate both approaches, providing FIs with foundational knowledge through group sessions and personalized guidance through one-on-one support. This combined method strengthens learning outcomes and supports institutions achieve lasting digital transformation.

Indicator	Cumulative
Number of participants providing feedback on satisfaction	null

Performance Standard	Description and Potential Impact	Mitigation
Performance Standard 1: Assessment and Management of Environmental and Social Risks and Impacts	As part of its Due Diligence, and as mandated by IFC Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance standards. Environmental and social risks will be further reviewed throughout the life-cycle of the project.	IFC advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as final decision maker, in gaining a good understanding of IFC's Performance Standards, and provide recommendations for appropriate mitigation measures whenever warranted.