Press Release: Reaching the world’s two billion unbanked: ITU Focus Group makes steady progress

Group shares initial findings from Digital Financial Services Ecosystem and Consumer Experience and Protection working groups

Geneva, 16 June 2016 – Today the International Telecommunication Union (ITU) Focus Group on Digital Financial Services has published the first of a series of thematic reports on Digital Financial Services, or DFS. The DFS Focus Group is looking at helping local policy and decision makers to accelerate their work on financial inclusion by providing practical tools, guidelines and recommendations on issues that are currently preventing the DFS market to develop organically. This represents the first step in developing an international roadmap of best practice guidelines for regulators, operators and providers in the telecom and financial services sectors and serving the unbanked in a sustainable manner.

Specifically focused around two of the four working groups, DFS Ecosystem and Consumer Experience and Protection, the four background documents were endorsed at the Focus Group’s recent meeting in Washington DC.

ITU Secretary-General Houlin Zhao said: “What makes this Focus Group different is its holistic approach. After more than a year of intensive work, experts are completing some preliminary analysis and have started to develop a robust and relevant framework together with very pragmatic recommendations that will hopefully deliver real change and opportunity.”


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