Agent supervision is still an underdeveloped area in the majority of countries with the exception of a few countries that have created comprehensive and detailed supervisory frameworks, encompassing all phases, from licensing to monitoring, from inspections to enforcement.
The majority of countries have not yet fully developed their supervisory procedures to identify and mitigate agent risks, acting on a more reactive and ad-hoc basis.
The approach in supervising agents varies considerably depending on the overall approach taken by supervisors (with some being more intrusive and some more lax in supervising the financial sector)
In the countries where nonbanks (e.g. mobile money providers) have extensive agent networks (e.g. Tanzania), there is disparity in the approach to supervising bank-based vs. nonbank-based agents
In 2013, CGAP provided funding, technical assistance and knowledge sharing to one of mobile money player in Côte d’Ivoire. The objectives were twofold: (1) to expand the reach of mobile money services and improve the quality of the agent network, and (2) extract lessons learned.
Digital financial services (DFS) are rapidly rewriting the landscape of financial access in developing markets. This deck is meant to serve as a primer to the DFS space by explaining the basic concepts and strengths of DFS models; showing how they are so successful because they correspond to the weaknesses of traditional delivery; and showcasing some of the next generation of DFS products in order to illustrate that this is just the beginning of a cross-sectoral revolution of access.
Digital Cash Transfers and Financial Inclusion in IndiaCGAP
Developing a digital payments architecture in India:
Creates efficiencies and lessens leakages in government, by building digital rails in some of the hardest to reach and poorest areas of India;
Saves India $20 billion a year, or 1% of its GDP;
Achieves financial inclusion for millions of beneficiaries who can receive payments on time, access basic financial services, and use technology to provide feedback to government on those services.
In 2015, the CGAP-funded Financial Inclusion Insights Survey was conducted in Rwanda by InterMedia. The survey analyzes trends in mobile money usage in the country and highlights opportunities for growth in the industry.
In 2013, CGAP provided funding, technical assistance and knowledge sharing to one of mobile money player in Côte d’Ivoire. The objectives were twofold: (1) to expand the reach of mobile money services and improve the quality of the agent network, and (2) extract lessons learned.
Digital financial services (DFS) are rapidly rewriting the landscape of financial access in developing markets. This deck is meant to serve as a primer to the DFS space by explaining the basic concepts and strengths of DFS models; showing how they are so successful because they correspond to the weaknesses of traditional delivery; and showcasing some of the next generation of DFS products in order to illustrate that this is just the beginning of a cross-sectoral revolution of access.
Digital Cash Transfers and Financial Inclusion in IndiaCGAP
Developing a digital payments architecture in India:
Creates efficiencies and lessens leakages in government, by building digital rails in some of the hardest to reach and poorest areas of India;
Saves India $20 billion a year, or 1% of its GDP;
Achieves financial inclusion for millions of beneficiaries who can receive payments on time, access basic financial services, and use technology to provide feedback to government on those services.
In 2015, the CGAP-funded Financial Inclusion Insights Survey was conducted in Rwanda by InterMedia. The survey analyzes trends in mobile money usage in the country and highlights opportunities for growth in the industry.
2 billion people globally have no bank account, but 1 billion of them have a mobile phone. Markets for digital financial services are expanding worldwide.
Key challenges on Digital Financial Services for MFIsSimon Priollaud
101 on Digital Financial services
Key challenges on Digital Financial Services, Mobile Banking, Branchless Banking, Agent Banking
Roadmap to enter the market
Technical Report of ITU-T Focus Group on Digital Financial Services :
The Digital Financial Services Ecosystem
written by the following authors, contributors and reviewers:
Carol Coye Benson, Charles Niehaus, Mina Mashayekhi, Nils Clotteau, Trevor Zimmer, Bruno Antunes, Yury Grin, Peter Potgieser, Quang Nguyen, Graham Wright, Nathalie Feingold, Ashwini Sathnur, Johan Bosini, Jeremy Leach, Oksana Smirnova, Evgeniy Bondarenko
This Report defines the Digital Financial Services ecosystem and describes the players and their roles within the Ecosystem.
The report recognizes a goal of reaching “digital liquidity” – a state wherein consumers and businesses are content to leave their funds in digital form, therefore reducing the burden of the
“cash-in”, “cash-out” process. Various high-level challenges and issues in the ecosystem are acknowledged in the report
Saldazo, a Visa debit card product co-branded with Banamex bank, has made Mexico’s largest corner store retail chain – OXXO – the country’s number one transactional account supplier. This presentation provides a Mexican market overview and shares key success factors, challenges and insights from this project.
Overview of Digital Financial Services LandscapeJohn Owens
This presentation reviews the digital financial service landscape and is a primer for regulators and policy makers wishing to better understand current market developments.
Alternative lending options have grown rapidly over the past 10 years. This deck offers an overview of digital credit and key takeaways from contexts around the world.
Digital Financial Services for Financial InclusionJohn Owens
This presentation highlights some of the digital financial service trends, policy and regulatory issues and examples of digital financial services and the role it plays in financial inclusion in various countries in the Asia Pacific region.
This was the opening session of the panel on digital financial services and financial inclusion during the Asia Pacific Regional Forum on Universal Access and Services and Broadband Deployment 2015 in Bangkok, Thailand.
Global Landscape Study on P2G Payments: Summary of in-country consumer resear...CGAP
For this study on P2G (Person-to-government) payments, Rwanda was selected as a focus country given the potential reach and varied nature of two key initiatives: the IREMBO e-government platform and the Tap&Go smartcard for public bus transport. Digital payments for school fees and utility payments were also studied. Tap&Go is privately managed but offers P2G learnings for other countries where public transport is government-run.
The research sought to answer questions across three key areas:
1. How well did digital P2G payment solutions reach and address the needs of the financially excluded?
2. What were effective and sustainable business models between actors, and how were they set up?
3. How do current and planned solutions support and work with the evolving digital payments ecosystem in Rwanda?
Moving from Mobile Money to Digital Financial ServicesJohn Owens
In this webinar, I shared updates on the growing shift from mobile money to broader digital financial services to promote financial inclusion. These broader services include greater integration and convergence of electronic funds transfers, debit/ATM cards, and agent banking. Over the past couple of years, a range of public and private players such as USAID, the Better Than Cash Alliance, the Bill & Melinda Gates Foundation, the Alliance for Financial Inclusion, and other groups have actively supported or focused on policy areas that promoted the use of digital financial services for greater financial inclusion.
With the greater role of governments, regulators, private sector players, and more importantly, the role and perspective of clients at the base of the economic pyramid, this new emphasis on digital financial services, has a much better chance of accomplishing deeper financial inclusion than we have seen in the past. This presentation focuses on this broader approach to improving financial inclusion and shares lessons learned from a practitioner in the field point of view.
Digital Financial Services for Cocoa Farmers in Côte d'IvoireCGAP
Smallholder farmers, even those in structured value chains such as cocoa farmers in Côte d’Ivoire, are largely unable to access banks, microfinance institutions and other formal financial institutions. Providing meaningful financial services to these customers in an affordable and sustainable manner is a great challenge. In Côte d’Ivoire, transitioning from cash to digital payments may alleviate some of these challenges
This presentation details a digital financial services pilot project – implemented over 22 months by Advans Côte d'Ivoire with the support of CGAP – which has shown promising results.
FinTech Applications & Tools for Financial HealthJohn Owens
During my presentation in March in Kyiv, Ukraine, I shared global examples of FinTech tools and applications that can not only support greater financial inclusion but, more importantly, can address the overall financial health of customers and improve consumer protection.
The Global Landscape of Digital Finance InnovationsCGAP
More than half of the world’s adult population, nearly 2.5 billion people, remain unbanked. Technology – particularly the mobile phone – has been used in recent years to extend financial services past the limits of bank branches and reach new consumers in traditionally underserved segments. Initial efforts focused on payments but have now grown to include savings, insurance and credit products delivered by digital channels, known as “products beyond payments.” Despite a dramatic expansion in the number of digital financial service deployments, the offering of these financial services are not new services. Rather, they are existing services migrated to a lower-cost digital channel, therefore offering greater scale potential. And even then, use of these channels currently remain low.
This research seeks to accomplish four objectives:
Catalog the ways in which technology, especially mobile, can enhance access or use of financial services
Provide a comprehensive landscape of the latest innovations in digital finance
Consider the current and potential impact of these innovations on financial inclusion
Identify enabling conditions and investments needed to unlock the potential of the sector
Digital Money, from a regulatory point of viewPatrick Bucquet
Unclear regulation about digital money allows new comers to enter and change the market, and now regulators are struggling to push even more for financial inclusion while protecting the customers.
From local approaches to a global one, regulators and governance bodies need to share insights and anticipate developments to build a consistent framework.
FATF's June 2013 Guidance Note on a Risk Based Approach to Implementing AML/C...Louise Malady
Understanding and using FATF's June 2013 Guidance note of a Risk Based Approach to Implementing AML/CFT Measures for mobile money and other new payment methods
2 billion people globally have no bank account, but 1 billion of them have a mobile phone. Markets for digital financial services are expanding worldwide.
Key challenges on Digital Financial Services for MFIsSimon Priollaud
101 on Digital Financial services
Key challenges on Digital Financial Services, Mobile Banking, Branchless Banking, Agent Banking
Roadmap to enter the market
Technical Report of ITU-T Focus Group on Digital Financial Services :
The Digital Financial Services Ecosystem
written by the following authors, contributors and reviewers:
Carol Coye Benson, Charles Niehaus, Mina Mashayekhi, Nils Clotteau, Trevor Zimmer, Bruno Antunes, Yury Grin, Peter Potgieser, Quang Nguyen, Graham Wright, Nathalie Feingold, Ashwini Sathnur, Johan Bosini, Jeremy Leach, Oksana Smirnova, Evgeniy Bondarenko
This Report defines the Digital Financial Services ecosystem and describes the players and their roles within the Ecosystem.
The report recognizes a goal of reaching “digital liquidity” – a state wherein consumers and businesses are content to leave their funds in digital form, therefore reducing the burden of the
“cash-in”, “cash-out” process. Various high-level challenges and issues in the ecosystem are acknowledged in the report
Saldazo, a Visa debit card product co-branded with Banamex bank, has made Mexico’s largest corner store retail chain – OXXO – the country’s number one transactional account supplier. This presentation provides a Mexican market overview and shares key success factors, challenges and insights from this project.
Overview of Digital Financial Services LandscapeJohn Owens
This presentation reviews the digital financial service landscape and is a primer for regulators and policy makers wishing to better understand current market developments.
Alternative lending options have grown rapidly over the past 10 years. This deck offers an overview of digital credit and key takeaways from contexts around the world.
Digital Financial Services for Financial InclusionJohn Owens
This presentation highlights some of the digital financial service trends, policy and regulatory issues and examples of digital financial services and the role it plays in financial inclusion in various countries in the Asia Pacific region.
This was the opening session of the panel on digital financial services and financial inclusion during the Asia Pacific Regional Forum on Universal Access and Services and Broadband Deployment 2015 in Bangkok, Thailand.
Global Landscape Study on P2G Payments: Summary of in-country consumer resear...CGAP
For this study on P2G (Person-to-government) payments, Rwanda was selected as a focus country given the potential reach and varied nature of two key initiatives: the IREMBO e-government platform and the Tap&Go smartcard for public bus transport. Digital payments for school fees and utility payments were also studied. Tap&Go is privately managed but offers P2G learnings for other countries where public transport is government-run.
The research sought to answer questions across three key areas:
1. How well did digital P2G payment solutions reach and address the needs of the financially excluded?
2. What were effective and sustainable business models between actors, and how were they set up?
3. How do current and planned solutions support and work with the evolving digital payments ecosystem in Rwanda?
Moving from Mobile Money to Digital Financial ServicesJohn Owens
In this webinar, I shared updates on the growing shift from mobile money to broader digital financial services to promote financial inclusion. These broader services include greater integration and convergence of electronic funds transfers, debit/ATM cards, and agent banking. Over the past couple of years, a range of public and private players such as USAID, the Better Than Cash Alliance, the Bill & Melinda Gates Foundation, the Alliance for Financial Inclusion, and other groups have actively supported or focused on policy areas that promoted the use of digital financial services for greater financial inclusion.
With the greater role of governments, regulators, private sector players, and more importantly, the role and perspective of clients at the base of the economic pyramid, this new emphasis on digital financial services, has a much better chance of accomplishing deeper financial inclusion than we have seen in the past. This presentation focuses on this broader approach to improving financial inclusion and shares lessons learned from a practitioner in the field point of view.
Digital Financial Services for Cocoa Farmers in Côte d'IvoireCGAP
Smallholder farmers, even those in structured value chains such as cocoa farmers in Côte d’Ivoire, are largely unable to access banks, microfinance institutions and other formal financial institutions. Providing meaningful financial services to these customers in an affordable and sustainable manner is a great challenge. In Côte d’Ivoire, transitioning from cash to digital payments may alleviate some of these challenges
This presentation details a digital financial services pilot project – implemented over 22 months by Advans Côte d'Ivoire with the support of CGAP – which has shown promising results.
FinTech Applications & Tools for Financial HealthJohn Owens
During my presentation in March in Kyiv, Ukraine, I shared global examples of FinTech tools and applications that can not only support greater financial inclusion but, more importantly, can address the overall financial health of customers and improve consumer protection.
The Global Landscape of Digital Finance InnovationsCGAP
More than half of the world’s adult population, nearly 2.5 billion people, remain unbanked. Technology – particularly the mobile phone – has been used in recent years to extend financial services past the limits of bank branches and reach new consumers in traditionally underserved segments. Initial efforts focused on payments but have now grown to include savings, insurance and credit products delivered by digital channels, known as “products beyond payments.” Despite a dramatic expansion in the number of digital financial service deployments, the offering of these financial services are not new services. Rather, they are existing services migrated to a lower-cost digital channel, therefore offering greater scale potential. And even then, use of these channels currently remain low.
This research seeks to accomplish four objectives:
Catalog the ways in which technology, especially mobile, can enhance access or use of financial services
Provide a comprehensive landscape of the latest innovations in digital finance
Consider the current and potential impact of these innovations on financial inclusion
Identify enabling conditions and investments needed to unlock the potential of the sector
Digital Money, from a regulatory point of viewPatrick Bucquet
Unclear regulation about digital money allows new comers to enter and change the market, and now regulators are struggling to push even more for financial inclusion while protecting the customers.
From local approaches to a global one, regulators and governance bodies need to share insights and anticipate developments to build a consistent framework.
FATF's June 2013 Guidance Note on a Risk Based Approach to Implementing AML/C...Louise Malady
Understanding and using FATF's June 2013 Guidance note of a Risk Based Approach to Implementing AML/CFT Measures for mobile money and other new payment methods
The Role of Regulations in the Development of Digital FinanceJohn Owens
This presentation focuses on the balancing act between innovation, safety and soundness of digital financial services as well as steps to support consumer protection. It also includes a review of the current guidelines and a checklist format to guide regulators and policy makers to compare their own regulations, policies, environments and supervisory capacity in relation to emerging developments in the field of DFS.
Operational innovations in AML/CFT compliance processes and financial inclus...CGAP
This report contains the findings of a research project to identify and categorize leading operational AML* compliance practices among financial service providers for the identification, verification and ongoing monitoring and management of lower income customers. This project began with the hypothesis that an increasing number of financial service providers with products targeting lower income population segments are reducing client acquisition and monitoring costs, and improving efficiency and effectiveness of the processes in scope.
The implications of de-risking on the financial system in Latin AmericaJohn Owens
In May 2018, I traveled to Asunción, Paraguay to present on the implications of de-risking on the financial sector, especially in Latin America. I highlighted what de-risking is, its impact, regional and international groups working on de-risking and some of the potential steps that the industry can take to address the thorny issue of de-risking.
Let me now your thoughts.
Digital Customer Due Diligence: Leveraging Third-Party UtilitiesCognizant
By leveraging digital technologies, automation and third-party models, banks can more successfully navigate the complexities of the client onboarding process.
Though digital credit has been in Tanzania for years, there have been few analyses of the country’s digital credit market. Existing studies raise important concerns about digital credit’s impact on customers. To help fill this knowledge gap in Tanzania, CGAP and the Busara Center for Behavioral Economics, at the request of the Bank of Tanzania, analyzed data from three digital credit providers and built a first-of-its-kind, data-driven picture of the digital credit market’s evolution and current state. In total, we looked at transactional and demographic data for more than 20 million loans disbursed over 23 months.
This playbook discusses the various value-added services (VAS) that could increase uptake of mobile retail payments in Tanzania and similar emerging markets.
Digitizing Merchant Payments: What Will It Take?CGAP
A staggering amount of cash is paid to retail merchants worldwide -- around $19 trillion out of a total of $34 trillion in payments. What will it take for digital payments to beat cash?
Wallet and Over-the-Counter Transactions: Understanding Financial IncentivesCGAP
How well do financial incentives encourage customers to opt for wallet transactions instead of over-the-counter transactions? To find out, CGAP looked at four diverse markets in Africa and Asia: Bangladesh, Ghana, Pakistan, and Tanzania.
Real-Time Customer Interactions via SMS (Juntos and Mynt)CGAP
Myntpartnered with Juntos to impact customers’ financial behavior. Phase I was focused on driving GCash transactions and the purpose of Phase II was to engage customers on topics of credit and the Instaloan product.
Digital Rails: How Providers Can Unlock Innovation in DFS Ecosystems Through ...CGAP
This document explains the concept of “Open APIs” in digital finance services (DFS), how they enable increased innovation, and the role they can play in expanding DFS ecosystems.
Smartphones & Mobile Money: Principles for UI/UX Design (1.0)CGAP
CGAP holds that Smartphone interfaces are likely to become the main interface for mobile money use. A well-designed interface will drive growth, profitability, and a much improved user experience. This presentation outlines 21 principles for UI/UX design.
Customer Segmentation: Design and Delivery (Webinar)CGAP
This webinar, recorded in September with SPTF, covers the design and delivery of customer segmentation work. Included are example cases from CGAP's work, sharings by webinar participants, and a preview of CGAP's forthcoming Customer Segmentation Toolkit. The webinar recording is available at https://youtu.be/RJfthuKif80
Why Star Ratings Matter for Financial InclusionCGAP
Using the example of MercadoLibre, this presentation details the ways in which e-commerce sales data--not typically available for credit scoring--can enrich existing scoring models and improve their predictive power, with positive implications for the financially excluded.
Services Financiers Numériques pour les Producteurs de Cacao en Côte d’IvoireCGAP
Les petits exploitants agricoles, même ceux des chaines de valeur structurées comme celle du cacao en Côte d’Ivoire, n’ont généralement pas la possibilité d’accéder aux services des banques, institutions de microfinance et autres institutions financières formelles. Fournir à ces segments de clients des services financiers adaptés qui soient abordables et durables constitue un défi majeur.
L’un des nombreux défis en Côte d’Ivoire est de sortir du système de paiement en espèces pour qu’ainsi un lien soit établi entre ces exploitants agricoles et les institutions financières. Le canal mobile offre une opportunité unique pour effectuer cette transition du cash vers les paiements numériques mais la proposition de valeur pour les exploitants agricoles doit être attractive.
C’est ce défi qu’Advans Côte d'Ivoire s’est engagée à relever et les résultats du projet pilote – mis en œuvre au cours des derniers 22 mois par Advans avec l’appui du CGAP - sont prometteurs.
Digital Finance and Innovations in Education: Workshop ReportCGAP
CGAP’s Digital Finance Plus initiative convened a workshop in Nairobi on 7 April 2016 aimed at bringing together stakeholders interested in the opportunities for digital finance to improve the affordability of education for low-income households. This document captures themes from the workshop presentations and design thinking session.
An Introduction to Digital Credit: Resources to Plan a DeploymentCGAP
This is a workshop/course offering guidance in developing new digital credit products. This content is designed for a broad audience of banks, mobile operators, lenders, and fintech firms. It may also be of interest to regulators, policy makers and investors/donors.
With any comments or to request more materials (including the financial model [Excel] or original PPT presentation with detailed presenter notes), please write to cgap [@] worldbank.org.
Understanding the East African Aggregator LandscapeCGAP
What are aggregators?
Aggregators can be thought of as the glue that helps many parts of the digital financial services (DFS) ecosystem to work together.
They allow Payment Instrument Providers (PIPs) – like Mobile Network Operators (MNOs) offering mobile money services or banks offering mobile banking - to easily integrate with entities that want to send money to or receive money from end customers. These entities can be utility companies who want to receive payments, businesses who want to pay salaries or donors who want to pay recipients, for example.
Why do they matter?
Aggregators enable the seamless collection, disbursement and circulation of digital payments across multiple payment providers. They mostly work in the background, and millions of transactions in East Africa pass through them everyday–usually without customers even being aware of them.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Experience in Supervising Banks and Non-banks Operating through Agents
1. Experience in Supervising Banks
and Nonbanks Operating through
Agents
Stefan Staschen, Denise Dias, Wameek Noor
August 2015
2. Content
I. Research methodology
II. General observations from research countries
III. Country overview on regulation and supervision
IV. Supervisory tools and techniques
V. Supervisory structure and capacity
VI. Common challenges and solutions
2
3. Part I: Research Methodology
3Sudipto Das, 2013 CGAP Photo Contest
4. Research methodology
Objective: Building the evidence base on supervisory approaches and tools
1. Chose a sample of countries with well-established, large
agent networks across different continents and using different
models (bank and nonbank agents)
2. Visited most of them to collect more detailed information
talking primarily to supervisors, but also to providers and other
sector experts
3. Collected relevant information (sorted in the order of
accessibility)
• Sector data
• Supervisory processes
• Reporting formats
• Supervisory tools (manuals, checklists, etc.)
4. Structured evidence and distilled insights for supervisors on
implementing an effective risk-based supervisory approach
4
6. Twofold outcome of research
6
“Experience in
Supervising Banks
and Nonbanks
Operating through
Agents”
• For a broader
audience
• Focusing on general
observations
“Supervision of Banks
and Nonbanks
Operating through
Agents”
• Main audience:
Supervisors and
other interested
parties
• Summarizing current
practice and distilling
insights for
supervisors
More in-depth research at country level will allow to test
the validity of the recommendations
7. 7Mohammad Saiful Islam, 2013 CGAP Photo Contest
Part II: General Observations
from Research Countries
8. Bank and nonbank agents in the sample countries*
Date in brackets
8
Tanzania
Kenya
Uganda
Brazil
Colombia
Pakistan
Peru
Philippines
Mexico
# of bank
agents
600
(05/14)
24,000
(03/14)
0
377,300
(1/15)
49,100
(12/13)
204,100
(12/14)
20,900
(06/14)
0
25,600
(09/13)
# of nonbank
agents
157,000
(05/14)
125,000
(08/14)
63,000
(06/14)
0 0 0 0
24,000
(12/13)
0
Total # of
agents
157,600 149,000 63,000 377,300 49,100 204,100 20,900 24,000 25,600
Total # of
agents per
100,000 adults
(15+)
580 580 325 248 140 170 97 37 30
*Data for total agents as well as data for active agents is not available for all countries.
All data provided by supervisory authorities, country population data from World Bank.
9. Current trends with relevance for agent supervision
9
Nonbank agents becoming more
common in Latin America and bank
agents more common in Africa
learning from each other?
Growth in size of agent networks is this a
reason for the supervisor to get more
involved or rather to rely even more on the
provider to manage its agent network?
Growing diversity of actors: agents,
sub-agents, super agents, agent
network managers, aggregators, etc.
what are the implications for
supervisors?
Increasing number of agents working
for multiple providers implications
for agent supervision (e.g. with
different reg. framework for bank and
nonbank agents)?
10. What are the risks supervisors are concerned about?
Consumer risks
• Main concern of supervisors and one that receives increasing
attention
• Issues such as fraud, unauthorized fees, lack of receipt, lack of
liquidity (cash at agent), system downtimes, inadequate dispute
resolution, abusive treatment
Operational risk
• The other main concern of supervisors as agents as a new
channel give rise to new operational risks
• Issues such as IT continuity, contingency planning, and internal
controls
Money laundering and terrorist financing (ML/FT) risks
• Transaction limits mitigate ML/FT risks
• The supervisors’ focus on ML/FT depends on importance of the
topic more generally (e.g., a high priority in Pakistan)
10
11. Current practice in agent supervision
Agent supervision is still an underdeveloped area in the
majority of countries with the exception of a few countries
that have created comprehensive and detailed
supervisory frameworks, encompassing all phases, from
licensing to monitoring, from inspections to enforcement.
The majority of countries have not yet fully developed
their supervisory procedures to identify and mitigate
agent risks, acting on a more reactive and ad-hoc basis.
The approach in supervising agents varies considerably
depending on the overall approach taken by supervisors
(with some being more intrusive and some more lax in
supervising the financial sector)
In the countries where nonbanks (e.g. mobile money
providers) have extensive agent networks (e.g. Tanzania),
there is disparity in the approach to supervising bank-
based vs. nonbank-based agents
11
12. Part III: Country Overview on
Regulation and Supervision
12
Joseph Moura, 2013 CGAP Photo Contest
13. Specific set of regulations for bank and nonbank agents
Ex: Kenya, in the pipeline for Tanzania and Uganda
13
Banks and other
regulated deposit-
taking financial
institutions
Nonbanks such as
mobile network
operators offering
retail payments and e-
money services
Bank agents Nonbank agents
Banking Law and
subsidiary legislation
on agent banking
Nonbank authorization
to provide payment
services including their
use of agents
14. Specific set of regulations for nonbank agents
14
Nonbanks such as
mobile network
operators offering
retail payments and e-
money services
Nonbank agents
Nonbank authorization
to provide payment
services including their
use of agents*
Ex: Uganda
*In Uganda, the licensed entity is the partner bank of the mobile money service provider
15. Specific set of regulations for bank agents
15
Banks and other
regulated deposit-
taking financial
institutions
Bank agents
Banking Law and
subsidiary legislation
on agent banking
Ex: Mexico, Tanzania (no separate regulations for nonbank agents)
16. General agent regulation applicable to banks and nonbanks
Ex: Brazil, Colombia, Ghana, Peru
16
Banks and other
regulated deposit-
taking financial
institutions
Nonbanks such as
mobile network
operators offering
retail payments and e-
money services
Bank and nonbank agents
Agent Regulation applicable to all regulated financial
institutions making use of agents as a channel
17. The legal framework for agent regulation and supervision
Tanzania Kenya Uganda
(only nonbanks)
Mexico
(only banks)
Legal basis for
operating agents
(year in brackets)
Banks: Agent
Banking
Guidelines (2013)
Banks: Agent
Banking
Guidelines (2013)
Banks: prohibited
to use agents
Annex to Banking
Act (2008)
Nonbanks: only
broad authority
under BOT Act
Nonbanks:
National Payment
Systems
Regulations
(2014)
Nonbanks: Mobile
Money Guidelines
(2013)
Supervisory
authority
Banks: BOT
Directorate of
Banking
Supervision
Banks: CBK
Supervision Dept. BOU: Commercial
Banking
Department
(Supervision
Function)
CNBV: Supervision
of Operational and
Technological RiskNonbanks: BOT
Directorate of
Payment Systems
Nonbanks:
Payments
Division (soon to
be Department)
17
BOT: Bank of Tanzania; CBK: Central Bank of Kenya; BOU: Bank of Uganda; CNBV: National
Banking and Securities Commission
18. The legal framework for agent regulation and supervision (contd.)
Colombia
(only banks)*
Pakistan
(only banks)
Brazil
(only banks)*
Peru
(only banks)*
Philippines
(only
nonbanks)
Legal basis for
operating
agents (year in
brackets)
Decrees
authorizing
SFC-licensed
institutions
(2006)
Branchless
Banking
Regulations
(2008, revised
in 2011)
Agent
regulations
updated
continuously
since 1970s,
latest version
Resolution
3954 (2011)
Circular B2147
(2005)
Circular 471
(2005)
Supervisory
authority
Superinten-
dencia
Financiera de
Colombia
SBP: Banking
Policy and
Regulation
Dept. and
Banking
Inspection
Dept
Central Bank
of Brazil,
Supervision
Dept and
Market
Conduct
Supervision
Dept
Banking
Superinten-
dence,
Supervision
Dept and
Consumer
Protection
Dept
BSP: Core IT
Specialist
Group
18
*These countries have recently adopted e-money regulations allowing for nonbanks to use agents, but
operations have not been launched yet
SBP: State Bank of Pakistan; BSP: Central Bank of Philippines
19. The lack of legal authority with regard to nonbanks can create
challenges in supervision and enforcement
• Mobile Payments Regulations still in draft form, Payments Law has
passed (2015)
• ‘Letter of no objection’ instead of license
• Electronic Payment Services Guidelines provide authority to impose
penalties and sanctions
Tanzania
• The Mobile Money Guidelines require nonbanks to partner with licensed
financial institutions, with only the latter getting approval from BoU and
carrying the regulatory risk
• No legal power to license nonbanks (waiting for Payments Law)
Uganda
• Regulations for nonbanks have only been adopted in 2014 and
supervisory framework only being set up now
• Despite being one of the largest agent networks in the world, previously
only regular meetings and some basic reporting (without sanctions other
than withdrawing the letter of no objection)
Kenya
19
20. Authorization and ongoing supervision
Tanzania Kenya Uganda
(only nonbanks)
Mexico
(only banks)
Authorization for
channel use
Nonbanks: No
separate
authorization
Nonbanks: No
separate
authorization No separate
authorization
Authorization
Banks: Authorization
Banks:
Authorization
Authorization for
individual agents
Banks: In bulk Banks: In bulk
None
Only notification
plus regular
certification by
bankNonbanks: None Nonbanks: None
Onsite inspection
Banks: Authority to
visit banks and
agents (but BOT has
not done so yet)
Banks: Inspection
of bank & sample
of agents
Not regularly, but
one examination
of mobile network
operator (not of
agents)
Yes, banks
periodically and
agents mostly at
time of
authorization
Nonbanks: only
visits to providers,
not to agents
Nonbanks: only
visits to providers,
not to agents
20
21. Authorization and ongoing supervision (contd.)
Colombia
(only banks)
Pakistan
(only banks)
Brazil
(only banks)
Peru
(only banks)
Philippines
Authorization
for channel
use
Authorization Authorization
No
authorization
required
Authorization None
Authorization
for individual
agents
None for
individual
agents, but
approval for
new retail
network
None None None
Yes, individual
license as
remittance
agents
Onsite
inspection of
provider and
agents
Once every 2-
3 years,
agents not at
time of
authorization,
but only later
(small sample
of agents)
As part of
regular
inspection of
banks with
visits to
sample of
agents
Yes, but
considered
minor
operational
risk.
Consumer risk
most
important.
Agents visited
rarely
Yes, focused
on consumer
and
operational
risks
Yes, providers
visited with
focus on agent
selection and
risk
management;
individual
agents visited
rarely
21
22. Offsite surveillance and overall assessment of supervisory
intensity
Tanzania Kenya Uganda Mexico Colombia
Offsite
Surveillance
Periodic reports on aggregate level; broken down by municipality (Mexico), county
(Kenya)
Overall
assessment
Medium touch
with limited
legal authority
for nonbank
agents
Light touch for
nonbank
agents,
medium touch
for bank
agents
Light touch for
nonbank
agents
Heavy touch
especially on
authorization,
but not so much
on individual
agents
Medium touch
(initially frequent
authorization for
changes in
model contract)
22
23. Offsite surveillance and overall assessment of supervisory
intensity (contd.)
Pakistan Brazil Peru Philippines
Offsite Surveillance
Periodic reports;
AgentChex with
monthly and need-
based reporting on
individual agents
currently being
rolled out
Aggregate
transaction data
every 6 months;
basic information
on individual
agents
permanently
updated online
Monthly reports on
aggregate level
broken down by
municipality
No periodic
reporting, but
specific requests
by the BSP on an
ad hoc basis
Overall assessment
Medium touch,
moving towards
heavy touch with
launch of
AgentChex (focus
on offsite)
Light touch with no
authorization and
limited reporting
Light touch with
streamlined
authorization and
limited reporting
Light touch with
putting onus on
provider and no
regular reporting
23
25. A wide range of tools and techniques to choose from
25
26. Authorizing the use of agents: Observed tools and techniques
and recommendations
26
Current practice Examples Recommendation
Authorization
of channel
use and of
individual
agents
• 1 or 2 stage
(channel
authorization and
authorization of
individual agents)
• One-off or periodic
• 2 stage: Tanzania
and Kenya with
regard to banking
agents
• Periodic
certification by the
bank in Mexico
• Risk of delaying agent rollout/closure;
overstretching supervisory capacity
no approval of individual agents (or If
required, then permit bulk approval)
and only new authorization for
significant changes to original agent
business proposal
What to
check at time
of
authorization
?
• Review model
contract
• Business and
operational plan
• Financial
projections
• Agent due
diligence docs and
agent roll-out plan
• IT infrastructure
• Colombia (see next
slide)
• Opportunity to bar poorly designed
agent businesses
• Use model agent contract to be
approved by supervisor or min.
standard clauses
• Check contracts with third parties such
as aggregators
• Look at agents as part of broad
operational risk review of the
supervised entity
27. Example of authorization process for use of agents in Colombia
27
Looking at operational risk (SARO) and money laundering risk (SARLAFT)
Good
Practice:
Clear criteria
broken down
by risk
category
28. Ongoing supervision: Observed tools and techniques and
recommendations
28
Current practice Examples Recommendation
Inspecting
providers
• Targeted inspection vs.
being part of regular
inspections
• Transaction
simulations
• Agent due diligence
procedures
• Internal controls
• Access rules to IT
system
• Etc.
• General review of
regulatory
compliance in
Brazil
• Review of agent
business as part of
operational risk
review in Colombia
and Peru
• Consider materiality of agent
business for the provider
• Make use of offsite analysis
and previous onsite
inspections to plan for visits
• Focus on headquarters and
review of risk management
program
• Also visit agent network
managers if heavily involved
in operation of agents
• Check quality of reporting
process
Offsite
surveillance
• Wide range of intensity
from detailed database
with data on agent
level to no regular
reporting on agent
activities
• Quality of reporting?
• AgentChex system
in Pakistan; more
hands-off
approach in Brazil
• Only collect information that
feeds into the risk
assessment or serves other
regulatory purposes (e.g.,
financial inclusion monitoring)
• Automated process
• At a minimum quarterly
reporting on aggregate level
29. Example of agent supervision manual from Mexico
29
Good
Practice:
Few
countries
seem to have
separate
agent
supervision
manual
30. Ongoing supervision: Observed tools and techniques and
recommendations (contd.)
30
Current practice Examples Recommendation
Inspecting agents • Random sample
• Targeted samples
according to
certain criteria
(top/worst
performers, most
fraud cases, most
complaints, etc.)
• Mystery shopping
• Most countries
don’t do this on a
regular basis
• Mystery shopping for
consumer protection
purposes in Peru
• Brazil as part of
thematic reviews
• Inspect individual
agents only with very
clear supervisory
purpose (e.g. To check
price disclosure,
conduct transaction
simulations, audit
particularly problematic
agents) and prioritize
targeted sampling
Enforcement actions • Wide range of
measures
available vs. only
withdrawal of letter
of no objection
• No serious
enforcement
actions have been
taken yet
• Uganda and Tanzania:
withdrawal of letter of
no objection (in UG
this has been effective
to enforce non-
exclusivity)
• Mexico: requested
changes in data
security features
• Sufficient enforcement
powers needed
including for changes in
contracts, suspending
or prohibiting certain
practices, and penalties
31. Pakistan’s AgentChex as example of comprehensive
database used as offsite supervisory tool
31
Online submission of agent data into
specialized web portal with some data
updated monthly, others on need basis
Includes data points on, among others:
• Date of last training received by agent
and training hours
• Agent education
• Agent status (normal, under warning,
suspended, terminated, blacklisted) as
categorized by the bank
• Electronic Credit Bureau report
• GIS coordinates
• Number of complaints against agent
• Etc.
32. The degree of engagement of supervisors varies widely
32
Brazil
• Agents not considered
priority risk for supervisor
• No regular reporting on
agent operations besides
aggregated data for retail
payment system statistical
monitoring (twice a year).
• No individual agent
monitoring or inspection if
no strong reason
• Agent risk and blacklisting
seen as industry's role, not
supervisor's
• Eventual agent checks only
for consumer protection
purposes, focused on loan
sales practices
Pakistan
• Comprehensive
diagnostic on agent
operations in 2013
(may be repeated)
• Currently populating
AgentChex database as
an “agent reference
bureau”
• Quarterly Branchless
Banking Newsletter with
detailed industry data
based on separate data
request
• Separate report on
fraud and complaints
vs.
33. Part V: Supervisory Structure
and Capacity
33Yolanda Luna, 2012 CGAP Photo Contest
34. It depends on local context where best to locate the responsibility
for agent supervision
• Bank supervision dept. typically has relevant experience with supervision
• Often split in onsite and offsite teams, with the former organized in
smaller groups for specific types of financial institutions
• Mexico has also specialized risk teams (e.g., operational risk)
• Payment system dept. might be involved regarding nonbank agents and has
necessary expertise in retail payment oversight, but lacks onsite experience
• Both depts. might be involved if regulatory framework is different for
bank and nonbank agents
• There might also be a separate consumer protection dept. and financial
intelligence unit
• Most important is level playing field ( same risk = same level of oversight),
to make the best use of pre-existing knowledge, resources and skills, and
ensuring effective coordination among different departments
34
35. Capacity and qualification of supervisory staff
35
Agent supervision may be conducted by
generalists with specialized training on IT
issues
• Drawing on IT specialists might be an
option for specialized IT inspections, but
not needed in all cases
• Good understanding of the agent
business and how providers manage
agents and agent risks
• While many researched supervisors
organize in-house and external trainings,
only Brazil has conducted specific
training on agent supervision
• Supervision manuals are useful tools to
advance supervisory capacity
36. Part VI: Common Challenges
and Potential Solutions
36Sumon Yusuf, 2013 CGAP Photo Contest
37. Some common challenges in supervising providers operating
through agents and early insights on how to address
37
Implementing a truly risk-based approach focusing on provider risk
management process:
• Risk-based approach defined as rationalizing the use of scarce
supervisory resources by focusing on issues posing the highest
risk to the achievement of the main policy objectives of
inclusion, stability, protection and integrity. Some supervisors
continue applying a compliance-based system that may not
focus on the highest risk areas.
• Use materiality tests considering the risk of the agent business
to the system as a whole and to individual institutions
Building sufficient capacity and qualification of supervisory staff
• Pragmatic solution building on existing supervisory know-how
and optimizing use of scarce resources
38. Collecting relevant data
• Granularity of data varies significantly across supervisory
authorities; financial service providers should understand why
data is being collected and supervisor should only seek
information that they have capacity to use/analyze, and check
on its reliability
• Data should not only look at individual agents, but also consider
the effect of agent business on the providers (e.g., share of the
business conducted through agents rather than conventional
channels)
Creating a level playing field in supervising bank and nonbank agents
• Issue general rules applicable to banks and nonbanks and
considering risks depending on type of products offered, not on
who is the provider
• If separate departments are in charge, closely coordinate
38
Some common challenges in supervising providers operating through
agents and early insights on how to address (contd.)