RESOURCE CENTER

Digital Financial Services

The Management Standards for the Responsible Provision of Digital Financial Services (DFS)

Digital financial services (DFS) have great potential to increase inclusion and innovation, but they also create substantial new risks for customers. To mitigate these risks, Cerise+SPTF encourages financial service providers to implement the new Management Standards for the Responsible Provision of Digital Financial Services (the “DFS Standards”).
 
The DFS Standards gather the best practices identified by financial service providers and other associated stakeholders around the world for offering digital financial services inclusively and responsibly. The DFS Standards integrate many of the indicators and details from the Universal Standards for Social and Environmental Performance Management, but adapted to a digital context, while also adding new management practices that mitigate customer protection risks and harms from the use of digital products and channels.
Download the DFS Standards Manual
English
Français
Español
English
Français
Español

The DFS Standards Evaluation Tool​

The DFS Standards Evaluation Tool is a free evaluation tool that combines the DFS Standards along with fields to score to what extent a financial service provider is implementing each practice, and graphical functions to display summary results. As a financial service provider, you can use this tool to evaluate and report on your current level of implementation of the DFS Standards.

Once you have completed your evaluation and identified a strategy and road map for improving your practices, how do you proceed? Cerise+SPTF is able to offer technical assistance, in the form of resources, training and activities to help you implement your improvement plan. Cerise+SPTF also co-finances improvement projects through the Responsible Inclusive Finance Facilities that can help you access the financial resources you may need to implement training to achieve these improved practices. To assist you in deepening local capacity, Cerise+SPTF has a network of professionals around the world and regional experts who are able to come to your organization and work with you to address the areas you have identified for improvement.

Download the DFS Standards Evaluation Tool (Excel)

Error with your download? Extract the “.zip” file and unblock macros in Excel. Click here for help.

The DFS Standards Manual

The DFS Standards gather in a comprehensive manual, the best practices identified by financial service providers and other associated stakeholders around the world for offering digital financial services inclusively and responsibly.
Download the DFS Standards Manual

The DFS Standards Assessment Tool​

The DFS Standards Assessment Tool is a free evaluation tool that combines the DFS Standards along with fields to score to what extent a financial service provider is implementing each practice, and graphical functions to display summary results. Financial service providers can use this tool to evaluate and report on their current level of implementation of the DFS Standards.

Download the DFS Standards Assessment Tool (Excel)

Error with your download? Extract the “.zip” file and unblock macros in Excel. Click here for help.

Trainings on the DFS Standards

  • Training on the DFS Standards in English for members of the Alliance of Digital Finance and Fintech Associations (Alliance DFA)
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Results from the DFS Standards Pilot!

We hosted webinars in three different languages to share the results of pilot testing the DFS Standards.

ENGLISH

Presentation
Recording

FRENCH

Presentation
Recording

SPANISH

Presentation
Recording

Pilot Testing the Digital Financial Services (DFS) Standards

Throughout 2023, Cerise+SPTF will be pilot testing the DFS Standards. The resources below explain who is eligible to participate, what the benefits are, what the cost is, what specifically pilot testers will do, how Cerise+SPTF developed the DFS Standards in collaboration with experts, and how accredited assessors may conduct pilot testing. If you or one of your partners would like to participate in the pilot, please contact Amelia Greenberg (ameliagreenberg@sptfnetwork.org). 

Letter to potential participants explaining the benefits and activities related to pilot testing: 

Power Point presentation introducing the DFS Standards to assessors: 

Recording of two-part training of assessors on the DFS Standards:

Overview of the DFS Standards Development Process​

Between 2021 and 2022, Cerise+SPTF reviewed research and interviewed 50+ experts from all stakeholder groups to understand best practices in providing responsible and inclusive DFS. Based on these interviews, in February 2022, Cerise+SPTF published a first working draft of the DFS standards. Throughout 2022, the working group debated and refined those standards ultimately agreeing on a set of concepts to be included. See below for the recommendations of the working group. From December 2022 to March 2023, the Cerise+SPTF technical team transformed the recommendations of the working group into DFS standards to pilot test with 29 DFS providers in Africa, Asia, and Latin America.

  • DFS working group recommendations in English
  • DFS working group recommendations in French
  • DFS working group recommendations in Spanish

Throughout 2023, Cerise+SPTF will be pilot testing the DFS Standards. The resources below explain who is eligible to participate, what the benefits are, what the cost is, what specifically pilot testers will do, how Cerise+SPTF developed the DFS Standards in collaboration with experts, and how accredited assessors may conduct pilot testing. If you or one of your partners would like to participate in the pilot, please contact Amelia Greenberg (ameliagreenberg@sptfnetwork.org). 

Letter to potential participants explaining the benefits and activities related to pilot testing: 

Power Point presentation introducing the DFS Standards to assessors: 

Recording of two-part training of assessors on the DFS Standards:

Materials from Working Group Meetings

September 28, 2022
In-person full review of the entire draft DFS Standards document and discussion of implementation plan 


July 20, 2022
Reaching the hardest to reach populations, and understanding client outcomes



June 8, 2022
Data Rights & Privacy and Partnerships


May 31, 2022
Responsible Pricing and Transparency


May 17, 2022
Cybersecurity and Fraud


May 3, 2022
Complaints Mechanism and Fair & Respectful Treatment of Clients


April 12, 2022
Algorithm Bias


March 15, 2022
Agent Management


February 15, 2022
Overview of the Responsible DFS Working Group

Practical Dreamers

Cerise+SPTF are practical dreamers. Since our origins in the late 1990s-early 2000s (when inclusive finance was better known as microfinance), there has been steadily growing interest in social performance: in making sure that vulnerable low-income clients are not exploited, and that products and services help create better lives. Many organizations have published high-level principles and frameworks. Cerise+SPTF translate those aspirations into concrete, practical actions.
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Cerise+SPTF is a joint venture between SPTF | US, SPTF | Europe, and Cerise. Cerise+SPTF pursues a common strategic plan and shares resources under a Memorandum of Understanding. For legal purposes, we remain three separate entities incorporated in, and subject to the laws of, our respective home countries.