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Data Collection by Supervisors of Digital Financial Services

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Reliable, timely, complete, and readily accessible data are crucial for efficient and effective risk identification and assessment in financial sector supervision and enforcement. They are particularly important for financial supervisors in emerging markets and developing economies (EMDE) who face fast innovation and a regulatory perimeter that is getting bigger because of growing digital financial services (DFS) for financial inclusion in EMDE. Which data should the DFS supervisor collect? How frequently? In what format? Through which means? How should the DFS supervisor improve data? What aspects should be considered? Based on primary and secondary research, this working paper highlights practices in data collection for DFS supervision and the issues and emerging trends in regulatory data collection mechanisms that are relevant to DFS supervisors. It provides material for DFS supervisors to exploit opportunities created by developments such as RegTech and SupTech to rethink their approach to data collection, with the goal of strengthening supervision while fostering financial inclusion.

Document Information

Document Type Paper
Author Denise Dias; Stefan Staschen
Year of Publication 2017
Publisher Consultative Group to Assist the Poor (CGAP)
Region / Country Global /
Primary Language English (en)
Keywords Access To Finance, Mobile Banking, Legal & Regulatory Environment
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