Digital Financial Services

Digital Financial Services (DFS) Standards

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 DFS Standards alongside the Universal Standards. Cerise+SPTF developed the DFS Standards over two years with input from many dedicated people (learn about our development process here) and has pilot tested them with 29 DFS providers in Africa, Asia, and Latin America.

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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.

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.

  • 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