The digitization of consumer finance in low- and middle-income countries (LMICs) has given rise to a proliferation of new consumer risks and widespread misconduct, which are often underappreciated or misunderstood. LMIC financial regulators are increasing their use of sophisticated digital technologies and cutting-edge analytics that more effectively respond to the new types of misconduct common in digital financial services. This paper reviews recent regulatory and supervisory innovations in LMICs, drawing heavily on examples from the central banks of Nigeria and the Philippines, which have experimented with data-intensive, future-facing supervision approaches in recent years, as well as examples from other leading digital finance markets across the globe. We propose two future priorities to protect consumers from the new risks of digital consumer finance: (1) building proactive, not just reactive, market monitoring models and solutions; and (2) fostering cross-cutting approaches to reporting and data-collection that link consumer protection to other government agencies and policy priorities.