Potential Actions for Signatories are based on recent industry examples, and are not intended to be used as a compliance checklist given digital financial services standards are still evolving.  Rather, examples of potential actions should be used for a more comprehensive due diligence assessment, and an opportunity for Signatories to develop new products and solutions for customers. Signatories may test, refine and adapt current industry evidence so as to be more relevant to their digital financial services investments, business models, market context, among other factors.
Examples of potential actions:
  • Assess and manage risks more comprehensively, defined as all risks impacting (1) customers or consumers, (2)
    providers and (3) financial markets sector/DFS ecosystem as relevant to the business model/market context.
  • Integrate consumer risk into institutional risk management systems, policies and procedures; include KPIs in
    audit and control procedures, with regular and timely reporting to Board and Management for action.
  • As a group of investors, regularly exchange among ourselves on the new risks identified arising from the use of
    new digital technologies; share lessons learned to promote and scale responsible digital inclusion.