University of Cambridge – Digital Public Infrastructure and Digital Financial Services

The report focuses on the convergence of digital public infrastructure (DPI) and digital financial services, along with related landscapes and regulatory aspects.

DPI, such as digital identification, real-time payments, and consent-based data sharing, are transforming the design, delivery, and regulation of financial services. These systems can enhance operational efficiency, reduce costs, and improve access to financial services, especially for underserved populations. However, there is a risk that the implementation of DPI may outpace regulatory understanding, creating gaps in knowledge about the design, users, and impact of these systems. Clear governance frameworks and empirical data are needed to assess the effectiveness of DPI initiatives.