Page 7 - The Digital Financial Services (DFS) Ecosystem

Table of Contents

Foreword iii

Table of Contents v

I The Digital Financial Services Ecosystem 1

Executive summary 2

1 Introduction 3
1.1 What is the DFS Ecosystem? 3
1.2 The Goal of Digital Financial Services 3
1.3 The Digital Financial Ecosystem and Its Components 4
1.4 The Evolution of the DFS Ecosystem 7
1.5 Issues and Challenges in the Ecosystem 8

2 Products, Services and Use Cases 9
2.1 Requirements 9
2.2 Products and Services 10

II Regulation in the Digital Financial Services Ecosystem 21

Executive Summary 22

1 Introduction 23

2 Categories of Regulation 23
2.1 Category 1: Agents 23
2.2 Category 2: Consumer Protection 23
2.3 Category 3: Market Access 24
2.4 Category 4: Payment Systems 24
2.5 Category 5: Risk Management 24
2.6 Category 6: Other 25

3 Managing the Regulatory Environment 25
3.1 Survey of Regulators 25
3.2 Survey Conclusions 28
3.3 Template for an In-Country Memorandum of Understanding 29
3.4 Cross Country Considerations for a Memorandum of Understanding 33

Bibliography 34

III Review of National Identity Programs 35

1 Introduction 37

2 Methodology 39

3 Overview of Selected National Identity Programs 40

v