The Task Force formally launched on 29 November 2018. Read and watch the events from the launch, and visit this page often for news and updates as the Task Force’s work gets underway.
News

Call for Contributions

Last week the Task Force issued our Call for Contributions. It seeks input from technical experts, opinion leaders, and citizens from all over the world about our core mandate: how to harness the power of the digital technologies that are

Read More »
Voices from Davos

VOICES FROM DAVOS

What other broad-based things can digital financing do? We can use big data to empower more activity for small and medium enterprises. Watch Task Force member Natalie Jabangwe’s remarks from the Inaugural Meeting

Read More »
Voices from Davos

VOICES FROM DAVOS

The fundamental economic behavior remains payments. If payments can be made easier, more convenient, and lower cost, that alone can unlock growth. Watch Task Force member Eric Jing’s remarks from the Inaugural Meeting.

Read More »
The Bookshelf

How much does 1GB of data cost?

A new interactive map illustrates how much people pay for data by country: the darker the country, the more expensive. A lot of countries where mobile data is cheapest are around the former USSR, and some of the most expensive

Read More »

DEFINITION OF TERMS

 

Digital

Involving or relating to the use of computer technology.

Digitization

The process of changing from analog to digital form

Digital Finance

Financial services delivered through digital processes and infrastructure.

Digitization

The process of changing from analog to digital form

Digitalization

Generally refers to how different political, social and economic domains are restructured around the broad use of digital technologies, often leading to new business models, services of employment as well as in interaction and engagement

Digitization of Finance

The impact of conversion from analog to digital technologies on financial functions, i.e. back office automation, transaction processing, improving “the plumbing” of financial service functions, resulting from digitization.

Digitalization of Finance

Systemic changes to the financial ecosystem due to digital technologies i.e., disintermediation of the banking and capital market sectors, shifting role of regulators due to cross-border transactions.

Digital Transformation

Digital transformation is the application of digital technologies to fundamentally impact all aspects of business and society.

Financial Ecosystem

A network of players (i.e., intermediaries, regulators, money managers, insurers, fintech, risk evaluators, etc.) that interact and provide services in the form of borrowing, lending, insurance, investment and payments and others.

Fintech or “financial technology”

Computer programs and other technology used to support or enable banking and financial services, traditionally referring to the technology of back-end work of financial institutions, and more recently referring to a fast-growing sector that applies technology to improve financial activities.

Technologies under consideration by the Task Force include, but are not limited toartificial intelligence, blockchain, cloud computing, online and mobile platforms, Big Data and/or the Internet of Things.

Sustainable Development

Sustainable Development that meets the needs of the present without compromising the ability of future generations to meet their own needs and encompasses society, environment, culture and economy (United Nations 1987 Bruntland Commission Report)