Learn more about ITU’s work to expand digital financial inclusion (+VIDEO)
The study of the drivers of digital financial inclusion initiated by the ITU Focus Group on Digital Financial Services (FG DFS) has led ITU to partner with the World Bank and the Bill & Melinda Gates Foundation in establishing a new multi-partisan initiative aimed at accelerating progress towards universal access to financial services.
The new initiative will provide targeted assistance to selected countries in their pursuit of financial-inclusion targets. This implementation work stream will be supported by annual symposia and thematic working groups, with three envisioned working groups to focus on:
- Unique ID and its relationship with financial inclusion
- Electronic payments and merchants’ acceptance of these payments
- The ICT infrastructure underlying DFS, particularly in relation to security and quality of service
Learn more about the nascent initiative from the Chairman of FG DFS, Sacha Polverini, Senior Programme Officer of the Financial Services for the Poor programme at the Bill & Melinda Gates Foundation, in the latest post to the ITU Blog…
ITU issues 80 recommendations to drive digital financial inclusion
For the past two years, FG DFS has been looking at the key challenges facing the broader adoption of the DFS and mobile financial innovations that hold great promise to bring basic financial services to the estimated 2 billion adults still without access to a transaction account.
The group took an ecosystem approach to DFS innovation, supported by a diverse set of experts representing the ICT and financial-services sectors, the public and private sector, standardization bodies and the research community.
FG DFS has delivered 17 thematic reports and is in the process of finalizing a further 10. The reports support some 80 policy recommendations establishing guiding principles to assist the pursuit of digital financial inclusion at the national level. These reports and recommendations can be found on the Focus Group’s homepage…
Learn more about the work of FG DFS in an ITU interview with Sacha Polverini.