Data Collection by Supervisors of Digital Financial Services
Data are at the core of financial supervision in any country, but supervisors’ data needs and data collection practices vary. Different approaches to data collection can affect data quality and, hence, the effectiveness of supervision. Digital financial services (DFS) supervisors in emerging markets and developing economies must answer some key questions: Which data should they collect? How frequently? In which format? Through which means? How can they improve data quality? What aspects should be considered when designing data collection mechanisms?
This paper describes DFS data collection practices and the most common reporting requirements with respect to e-money services and issuers and the use of agents and electronic payments. It provides report templates and other sample material that could be useful for DFS supervisors.