TRACK PROGRESS TO MITIGATE RISKS AND EXPAND DFS OPPORTUNITIES

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:
  • Work collaboratively as investors to update evolving good practices to refine standards or benchmarks for responsible digital financial services.
  • Encourage investors and investees to publicly share impact results for cross learning and support of research into client over indebtedness, pricing and efficiency benchmarks, consent and disclosure methods, consumer data protection and data privacy, inclusive digital finance algorithms, etc.
  • Investors may support as relevant, alignment of social indicators (such as gender, age etc.) and reporting metrics for investees to reduce the reporting burden.
  • Encourage investors, fund managers and investees to apply or sign up to relevant impact industry reporting standards, for example: B Analytics/GIIRS/IRIS; MIX Market Financial Inclusion Data; SPTF, etc.