Page 32 - ITU-T Focus Group Digital Financial Services – Recommendations

ITU-T Focus Group Digital Financial Services
Recommendations

4 Technology, Innovation and Competition recommendations

The recommendations here are further categorized under different streams:

1) Security
2) Identity and authentication

3) Mobile handsets use
4) Competition

5) Distributed Ledger Technology
6) DFS Vendor Platform
The recommendations are detailed below.

Title of recommendation Cooperation and MOUs

Working Group Technology, Innovation and Competition
Workstream Security

Audience for recommendation DFS Providers, MNOs, regulators

MOUs between the central bank and the telecommunications regulator should clearly delineate the need for the
telecommunications regulator to undertake – with or without the cooperation of the telecommunications infra-
structure licensee – monitoring of vulnerabilities in the telecommunications infrastructure, particularly in areas
where there is a high volume of DFS transactions.

Cooperation should be strengthened between MNOs providing DFS services, the Central Bank, telecommunication
regulators, payment service providers (PSP), and banks to assess and mitigate many of these security risks.

26