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Know Your Customer: Balancing Innovation and Regulation for Financial Inclusion. (arXiv:2112.09767v2 [cs.CY] UPDATED)
cs.CR updates on arXiv.org arxiv.org
Financial inclusion depends on providing adjusted services for citizens with
disclosed vulnerabilities. At the same time, the financial industry needs to
adhere to a strict regulatory framework, which is often in conflict with the
desire for inclusive, adaptive, and privacy-preserving services. In this
article we study how this tension impacts the deployment of privacy-sensitive
technologies aimed at financial inclusion. We conduct a qualitative study with
banking experts to understand their perspectives on service development for
financial inclusion. We build and …
customer financial financial inclusion inclusion innovation know your customer regulation