Financial Consumer Protection Standards for Digital Financial Services

Commissioned by GSMA, DTS conducted a global landscape study to map and assess the main frameworks and policy recommendations for financial consumer protection in the digital age. The research compares international standards from organisations such as the G20, OECD, World Bank, AFI, and CFI, analysing their convergence, gaps, and practical application in emerging markets. It also examines the evolving nature of consumer risks driven by technological innovations, digital platforms, and embedded finance models.

The study provides:

• A comparative analysis of leading financial consumer protection frameworks for digital financial services.
• Insights on emerging consumer risks in a digitised financial ecosystem, including risks linked to data use, AI-driven decisions, and cross-border services.
• Recommendations for strengthening legal, regulatory, and supervisory frameworks to safeguard consumers, promote responsible market conduct, and enhance trust in digital finance.

Published in March 2023, the report informs GSMA’s policy agenda and supports the development of safer, more inclusive digital financial services globally.