Page 18 - FIGI Digital Financial Services Consumer Competency Framework

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1�4 Manage digital identity and credit profile
To understand what a digital identity is and how it can be used for KYC purposes and how it enables the consumer to
access DFS securely. To understand that one’s credit profile as a digital consumer can be established, modified, manip-
ulated and exploited, and thus it needs to be regularly reviewed. To manage the data that one generates through their
DFS transactions.
Knowledge area CA1.4-K1 Know that digital identity data is analyzed for marketing purposes and know-
ing which type of information is processed by certain services (ex: geolocation data).
CA1.4-K2 Be mindful of one’s digital footprint and reputation and understanding the
benefits and risks of having several online profiles.
CA1.4-K3 Understand the importance of protecting login credentials against identi-
ty/privacy and security theft. [For gender sensitivity: Explain why it is important for
women to own their own mobile device for DFS].
CA1.4-K4 Understand the digital identity and the general KYC requirements of DFS.
CA1.4-K5 Know the benefits and risks of being a digital consumer, when your digital
identity is captured by the DFS provider.
Skills area CA1.4-S1 Use digital tools available to create, manage, or delete one’s online profile
from a commercial platform.
CA1.4-S2 Remember that pricing discrimination can occur based on gender and the
digital identity data available online.
CA1.4-S3 Be able to determine if the credit being offered is actually needed or not.
CA1.4-S4 Be able to securely protect one’s login credentials and digital identity from
potential fraud.
CA1.4-S5 Use privacy and data protection tools for securing online information and
data 17
Proactive steps CA1.4-P1 Claim one’s rights , and be aware of online tracking, such as incognito
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search options.
CA1.4-P2 Take active steps to review one’s digital profile and make necessary correc-
tion, if required.
CA1.4-P3 Ensure that terms and conditions of usage of digital profiles by DFS provid-
ers are clearly communicated to consumers.

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