Press Release: ITU-T Focus Group on Digital Financial Services publishes new position papers ahead of final meetings, 6-8 December
ITU’s dedicated Focus Group for Digital Financial Services (DFS) published today eight new reports that reveal key findings on how mobile banking services can help alleviate poverty for millions ahead of final meetings in December.
“Mobile banking services bring direct benefits to millions of the previously unbanked,” said Houlin Zhao, ITU’s Secretary-General. “These reports thoroughly review the key challenges facing digital financial services globally. Think how much more we could do.”
The key findings from each report, made by four Working Groups of the Focus Group, will be unveiled at its concluding meeting 6-8 December at ITU headquarters, Geneva. These reports will conclude two years of work, aiming to guide both the regulatory and commercial sectors in increasing access to basic financial services for the estimated two billion people around the world that currently have no access.
The latest announcements bring to sixteen the number of papers that have been published dealing with a broad range of key issues that the Focus Group has been reviewing. Today’s reports include analysis on electronic B2B (business to business) payments, merchant data and lending, the role of postal networks, bulk payments, agriculture value trains and the role of social networks and two further reports on payment system oversight and interoperability.