1、FinTech Regulation in With the support of:Please cite this study as CCAF(2021)FinTech Regulation in Sub-Saharan Africa,Cambridge Centre for Alternative Finance at the University of Cambridge Judge Business School,CambridgeThis study was funded by the UK Foreign,Commonwealth and Development Office(FC

2、DO)through the Cambridge Alternative Finance Collaboration Network(CAFCN)Programme implemented by the Cambridge Centre for Alternative Finance(CCAF)at the University of Cambridge Judge Business School.Table of ContentsForewords.5Research Team.8Acronyms .9Glossary.101.Executive Summary.12 2.Introduct

3、ion.17The regulation of FinTech and its importance .17The impact of COVID-19 on regulating FinTech.173.Literature review and methodology.21Literature review:The regulatory approach to FinTech in SSA.21Methodology .234.Regulatory approach in specific verticals .27Digital payments.27E-money(including

4、mobile money).28International remittances.30P2P lending.31Equity crowdfunding.335.Cross-sectoral themes.37Data protection.37Cybersecurity.38Open banking in SSA.41Financial consumer protection(FCP).43Anti-money laundering(AML)and electronic-know your customer(eKYC).466.Regulatory innovation initiativ

5、es in SSA.50Innovation offices in SSA.50Regulatory sandboxes in SSA.51RegTech and SupTech initiatives in SSA.517.Identifying gaps,and understanding challenges in SSA .54The existence of regulatory frameworks and regulatory innovation initiatives is uneven.54Frameworks and the FinTech market .58Facto

6、rs that might impact regulatory response to FinTech .60 8.Concluding remarks and future research .659.The regulatory approach to FinTech in Kenya.67Examples of positive practice.68Regulatory innovation initiatives.68Consumer Protection.69Agents .69Proportionality.69Simplified customer due diligence.