Page 275 - The Digital Financial Services (DFS) Ecosystem

ITU-T Focus Group Digital Financial Services
Ecosystem

5.2.4 Agency and transparency

Social networks could be the digital on-ramp for poor populations and transform how they do business, but
there is also room for exploitation, for example:
• a chatbot named "Merchant Deal Finder" steering customers to its owner’s primary business;

• raising prices to certain consumers whose banking activity suggests greater wealth;
• customer service chatbots presenting customers with higher margin but inferior solutions.
These problems already exist in physical and online commerce, but growing software sophistication makes
exploitation much easier. Factor in a population with limited technology experience and there is even greater
risk to the BoP. At some point a poor farmer may ask himself or herself, "Is my chatbot lying to me?" but
until then, they are exploited. The normal deterrent, reputational risk, might not apply. A chatbot with a bad
reputation is one brand change away from a clean start.

Regulators can draw upon related topics, such as agency disclosure laws, but regulatory frameworks should
reflect the unique context. For example, should chatbots have to send a disclosure message that says, "I receive
a commission if you buy the product I just recommended?" Regulations are not the only way of managing the
risk. Industry self-regulation, or independent parties such as TrustE can play a role.

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