The vice-governor of the Central Bank of West African States ( Bceao ) considers that the
development and the roadmap that will emerge from the regional consultation for the implementation of
the interoperability of digital financial services in WAEMU, will reflect the challenges to be met before and
after the launch of the interoperable system.
Come to preside over the opening of the work of the regional consultation, this Monday, September 30 at the headquarters of the
BCEAO in Dakar, Mr. Abdoulaye Diop believes that these challenges concern, first and foremost, the overall security of the
system.
Launched in April 2017, the main objective of the interoperability project is to achieve the construction
a diverse, inclusive, convenient and efficient payment ecosystem.
It must lead to the adoption of instant services, available 24 hours a day, 7 days a week, based on
quality and safety requirements. In addition, it will simplify the life of users.
To this end, the vice-governor of the BCEAO considers that the question of the overall security of the system must
be strengthened to maintain user confidence and the quality of services.
For this, it is useful to pay particular attention to the protection of the personal data of
users, the robustness of the platform, the fight against fraud, money laundering and
financing of terrorism, he considers.
In this dynamic, Mr. Diop thinks that the second challenge relates to the pricing of services
interoperable and interchange fees, which must be aligned with inclusion goals
finance and the development of digital financial services.
He will then cite the quality of services, in particular telecommunications networks, which constitute
the highway of digitalization of financial services.
In addition, continues the Vice-Governor of the Central Bank, the implementation of a strategy of
Coordinated communication is also needed to build buy-in from all stakeholders and
ensure the rapid integration of interoperability into usage.
As a fifth project, Mr. Diop puts it on the rapid adoption of the regulatory framework for interoperability,
which should facilitate fair competition between players and protect the interests of consumers.
Building on this momentum, he argues that the establishment of governance of the system is also a
essential prerequisite. On this point, added the Vice-Governor, GIM-UEMOA must speed up its
institutional reform and strengthen its technical and operational capacities.
This is how he committed the services of the Central Bank to continue the modernization projects
of the Union's payment systems, in order to bring them into line with developments in our environment.
For him, the home stretch of the interoperability project must therefore mobilize everyone more, both the
Central Bank, GIM-UEMOA, States and financial institutions for compliance with commitments
which will result from this consultation which is due to end on October 3, 2019.