The regulator’s perspective on the right timing for inducing interoperability

Interoperability is a crucial characteristic of financial and ICT infrastructures for the purpose of fostering financial inclusion through digital financial services. While a consensus has been reached concerning the role that regulators play in making systems interoperable, the scope and timing for regulator action is still being discussed. The Regulator’s Perspective on the Right Timing for Inducing Interoperability provides an overview of DFS systems and the challenges to interoperability. Not all service providers consider it important. Nevertheless, authorities from 18 countries were surveyed to obtain their opinions on the question of the right timing for inducing interoperability in DFS. This report highlights the survey answers of authorities from five countries – Brazil, Liberia, Nigeria, Philippines and Uganda – to allow for evaluation so that regulators can learn from the lessons.