The AFI network- wide webinar featured a plenary of financial regulators, standard setters and private sector representatives who discussed the role of digital identity (ID) for financial inclusion in response to the global emergency and for the recovery from COVID-19 global pandemic. These include government and commercial digital ID solutions for e-KYC, AML/CFT implications, and concerns related to data privacy and protection, cybersecurity, and awareness or education among end-users.
The COVID-19 global pandemic has impacted the world at varying levels. However, what is observed to be consistent across all our experiences is the irrefutable importance of digital identity (ID) during a time when movement restrictions have been strictly imposed and physical distancing dutifully enforced to prioritize the health and wellbeing of society.
Almost overnight, there was a renewed reliance on technology and the internet to maintain economic activities ranging from access to banking, government social assistance programs, and other critical financial services which have necessitated the need for secure, user-friendly ways to verify identities online. While digital ID is important for modernizing financial systems and accelerating financial inclusion, there is an equally urgent necessity to be proactive in innovatively devising policy and regulation that comply to AML/CFT standards and safeguard financial integrity using a risk-based approach (RBA).
Speakers:
Sally Abdelkader, Central Bank of Egypt
Ramizul Islam, Bangladesh Bank
Yuri Bozhor, Central Bank of Russia’
Norbert Mumba, AFI
Marcelo Bellini Garcia, Mastercard
Kate Eagle, IDEMIA
Shana Krishnan, Financial Action Task Force
Moderator:
Mariam Jemila Zahari, AFI
Context setting:
Adeyemi Omotoso, AFI
Read more about the webinar in a COVID-19 “stress tests” digital ID infrastructure: [ Ссылка ]
Learn more in Digital ID and eKYC: a Catalyst for Financial Inclusion: [ Ссылка ]
#Covid19Response #FinancialInclusion #LeaveNoOneBehind
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Global Standards Proportionality Working Group: [ Ссылка ]
Digital Financial Services Working Group: [ Ссылка ]
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About AFI:
AFI is the world’s leading organization on financial inclusion policy and regulation. Roughly 100 member institutions make up the AFI network including central banks, ministries of finance and other financial regulators from over 80 developing and emerging countries. AFI works on empowering policymakers to increase access and usage of quality financial services for the underserved through formulation, implementation and global advocacy of sustainable and inclusive policies.
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