Policy and Ecosystem Development

Supporting financial authorities, fostering innovation and protecting consumers

BFA's Policy and Ecosystem Development practice supports policymakers, regulators and supervisors as they face an increasingly complex and data-rich market for financial services. We help our clients throughout the policy cycle; from policy design and implementation through impact evaluation.

To enable evidence-informed policy making, we conduct research to develop technology-enabled solutions for the collection, analysis and use of data by financial authorities. We do so to foster innovation and create competitive markets while ensuring that consumers are treated fairly. This area of work is informed by the customer and business value propositions, and the emerging fintech world through collaboration with other BFA areas of expertise.

Regtech for Regulators Accelerator

Partnering with leading financial authorities in the Philippines and Mexico to prototype RegTech and SupTech solutions

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Data Stack

BFA is working with the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System Plc (NIBSS) to redesign their data infrastructure converting voluminous raw data into easily digestible insights.

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What Policy & Ecosystem Development does:

  1. RegTech for Regulators – We work with regulators and innovators to prototype technologies that help financial authorities to improve market oversight reduce providers’ cost of compliance and inform policy design through evidence extracted from data generated from the market and customer experience.
  2. Digital Identity – We promote adoption of robust unique identification systems that can help to reduce account access barriers for customers, combat fraud, and foster the development of a customer-centric digital ecosystem.
  3. Data Analysis and Privacy – We provide technical assistance to regulators, DFS providers, and international stakeholders on how to foster innovation that harnesses the full power of digital data to achieve economic and social inclusion while promoting customer choice and control over the use of their personal information and ensuring compliance with relevant data protection regulation.
  4. Regulatory Impact Assessment – We help policymakers to evaluate how regulation has impacted business models, product development and customer adoption; and to determine the potential impact of proposed regulatory reforms.
  5. Design of Policy and Regulatory Frameworks – We assist Finance Ministries and Central Banks in the development of evidence-based policy and regulation to enable the development of safe and inclusive financial sectors.

More Policy & Ecosystem Development Projects

Policy and Ecosystem Development helps financial authorities make informed decisions and improve the efficiency and effectiveness of policy-making.  By aiding policymakers, regulators, and supervisors to better understand the financial inclusion marketplace and the needs of providers and consumers, we help them to create a conducive business environment that fosters innovation while ensuring fair treatment of customers, and to provide all stakeholders with a clear vision of the future of inclusive financial systems.

More from Policy & Ecosystem Development

Regulatory Impact Assessment

This assessment can assist in determining the change effected by regulation/policy and isolating the right variables to achieve the objectives.

Know Your Customer Requirements for DFS in Uganda

BFA conducted a study for UNCDF on Know-Your-Customer (KYC) Requirements for Digital Financial Services in Uganda.

BTCA Ghana

This Diagnostic Report shows Ghana has taken important steps toward digitizing its economy, and has several of the building blocks of an inclusive digital ecosystem already in place.

Government Payments Diagnostic - Zambia

This diagnostic was carried out to map the landscape of payments of the Government of the Republic of Zambia and to identify which payments are made in cash and what proportion is digitized.

Going Beyond Regulatory Sandboxes to Enable Fintech Innovation in Emerging Markets

Reform for governments to consider in order to create a holistic and multi- dimensional ecosystem for FinTech innovation.


Explore Our Areas Of Expertise

Customer Insights

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Business Insights

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Inclusive Fintech

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Finance For Life

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Updated January 2020