Guideline Note on Data Privacy for Digital Financial Services

The digital financial services market is being transformed at an exponentially fast rate, helping to achieve financial inclusion goals, poverty alleviation and economic growth benefits.

However, these innovations raise significant data privacy issues for data subjects, known as data privacy for digital financial services (DP4DFS). Of particular concern are the likely financial capability and technology challenges of data subjects in a financial inclusion context. The purpose of the Guideline Note is to provide non-binding guidance for a comprehensive, risk-based and proportionate policy and regulatory framework for DP4DFS.