How are KYC Requirements Impacting DFS Adoption?

Know Your Customer Requirements for Digital Financial Services

Expertise Area

Policy and Ecosystem Development

Client Name

UNCDF

Country

Uganda

Project Period

June - July 2017

The United Nations Capital Development Fund’s (UNCDF) Mobile Money for the Poor (MM4P) program contracted BFA to conduct a Study on KYC Requirements for Digital Financial Services in Uganda. The key objectives of the study were to:

  • Clarify the Know Your Customer (KYC) requirements for opening and operating different digital financial services (DFS) accounts, including accounts for individuals, informal merchants and traders, formal businesses, and non-citizens such as refugees;
  • Understand how financial service providers are interpreting and implementing KYC requirements for the aforementioned accounts today;
  • Assess the impact of the interpretation and implementation of KYC requirements on DFS adoption; and
  • Offer recommendations for addressing KYC challenges to foster DFS growth and uptake.

Explore Know Your Customer Requirements for Digital Financial Services

Know Your Customer Requirements for DFS in Uganda

Download

Summary: Know Your Customer Requirements for DFS in Uganda

Download

Other Projects

Gender Disaggregated Data and Women’s Financial Inclusion Study
Financial Inclusion
Development of Digital Financial Services Policy in Ghana
Digital Financial Services
Better Than Cash Alliance (BTCA) Payments Diagnostics
Digital Payments
Payments and Transactions "Data Stack" in Nigeria
AKF Digital Savings Group Alpha Pilot
Financial Services
Flexipay Payment System
Payments
Updated January 2018