Page 92 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition

ITU-T Focus Group Digital Financial Services
Technology, Innovation and Competition

present, such as USSD, NFC, and web apps from the view of remote and proximity access, the top services,
such as cash in/out, remittance, and critical system functions, such as security and account management.

The vendor platform features expected of a typical DFS deployment should include access options, cooperation
with third party partners, interoperability, key service functions, and system features. A reference instance of
an architecture for a DFS vendor platform to support a variety of services is present within the report.
Using the best practice for the system function can make it easier for any operator to implement and
deploy the vendor platform. The reference architecture will provide more details about how to potentially
structure the vendor platform – with separation of functionality to ensure clear understanding of any regulatory
requirements for an implementation. The specifics pertaining to capabilities and technologies are present for
reference as a best practice, and supporting future extensions of the initial services, such as the BPM tool (to
support prototyping) and the specific account and identity model.

Regulators need to consider the advancement of future services – many services will be combined to create
new services. By providing clear guidance on the controls and mechanisms required in the relevant data
sets and access channels, a vendor can advance their platform with confidence that the platform will meet
developing market needs within a robust regulatory framework. A good example is identity capture – many
current regulatory processes require the capture of physical paperwork, however digital techniques and
processes can overcome the weaknesses in such a process.

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