This Report by ITU, defines the Digital Financial Services ecosystem and describes the players and their roles within the Ecosystem. These players include users (consumers, businesses, government agencies and non-profit groups) who have needs for digital and interoperable financial products and services; providers (banks, other licensed financial institutions, and non-banks) who supply those products and services through digital means; the financial, technical, and other infrastructures that make them possible; and the governmental policies, laws and regulations which enable them to be delivered in an accessible, affordable, and safe manner.
The report recognizes a goal of reaching “digital liquidity” – a state wherein consumers and businesses are content to leave their funds in digital form, therefore reducing the burden of the “cash-in”, “cash-out” process. Various high-level challenges and issues in the ecosystem are acknowledged in the report: many of these are the subject of more detailed reports produced by the Focus Group. Finally, the report looks at the many products and services that comprise the DFS ecosystem.