The report provides insights and concepts shared by vendors and customers of DFS platforms who participated in the ITU Focus Group Digital Financial Services. This report captures all the functions, features and access options required to deploy and manage a mobile money ecosystem. It defines how potential interoperability can be supported – both with third parties and other mobile money operators. It also provides a reference modular architecture that supports the creation of complex account structures and services.
All these items have been collated to provider the regulator an understanding of all the elements that may be deployed. Regulators can then focus their efforts on the services already adopted, give clear guidance for security and data controls, and also prepare for new services that may be deployed as the ecosystem matures. This will allow the regulator to promote the common and general features of the platform they wish to advance in their market, it will give any potential operator an insight into the best practices for the system functionality – using a common framework to remove any potential ambiguity and allow regulators to provide clear guidance on the controls and mechanisms required in the relevant data sets and access channels. A vendor can advance their platform with the confidence that it will meet developing market needs within a robust regulatory framework.