Cybersecurity – A governance framework for mobile money providers

Wednesday 11 Sep 2019 | English | Financial services products | Global | Industry positions | Mobile access and use | Mobile internet | Mobile Money | Operational best practices | Policy and regulation | Report | State of the industry and trends |

Cybersecurity – A governance framework for mobile money providers image

Cybercrime has become one of the greatest challenges of the digital age. The ubiquity of technology has intensified the risk of cyberattacks, and the rise of innovative and disruptive technologies in the digital economy has heightened the need for trust and stability.

Cybersecurity is a vital issue for mobile money providers, who must maintain trust and confidence in their services to drive adoption and use and continue to innovate in new directions. With 1.7 billion people in the world still unbanked, it is critical that mobile money remains a reliable path to financial access and that services continue to expand and innovate.

This report presents a holistic framework that mobile money providers can use to improve security and provide safeguards against cybercrime. The framework has three dimensions — People, Process and Technology — and provides guidance for mobile money providers to ensure the security of their operations and their customers.