New Digital Payments Strategy & Regulations for an African National Bank

Challenge

A national bank in a region where financial services players were racing to embrace digital technology urgently needed to create an efficient and well-regulated payments ecosystem that accorded with global best practices and standards.

Result

This program resulted in the development of a national strategy for interoperability for all payment systems, payment providers, mobile money, card networks, mobile operators, and payment switches that addressed both the emerging trends and advances in technology and telecommunications. In addition, the team drew up guidelines and a framework for the regulation of payments—with a focus on anti-money laundering, digital identity, and data privacy—along with a roadmap for implementation.

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