CONCLUSION

The three case studies examined the current policies, regulations, and practices related to leveraging digital ID and e-KYC to advance FDP financial inclusion in Rwanda, Mauritania and eSwatini. It is clear that there are risks and opportunities in using digital ID and e-KYC, and the issue of data protection and privacy is particularly delicate in the context of FDPs. While e-KYC is not fully developed in the countries, there is great potential to use their digital ID systems to apply e-KYC towards increasing financial inclusion among FDPs residing in their jurisdictions.

Based on an analysis and synthesis of the experiences in these countries, this report discussed the main challenges and bottlenecks preventing the wider adoption of digital ID and e-KYC to advance the financial inclusion of among FDPs, and presented some actionable policy recommendations that can be implemented by financial policymakers and regulators addressing FDP financial inclusion. Towards that end, multi-stakeholder collaboration, a deep understanding of FDPs’ data protection and privacy challenges, as well as deliberate efforts to ensure their integration with host communities are imperative.