The evolution of digital financial services represents an opportunity to reach previously excluded and underserved populations with more tailored financial services. However, this fast-paced growth comes with drawbacks in the form of consumer risks.

Limited digital and financial literacy are barriers to the effective adoption of digital financial services. The AFI network defines digital financial literacy (DFL) as acquiring the knowledge, skills, confidence and competencies to safely use digitally delivered financial products and services, to make informed financial decisions. DFL has been on the agenda of policymakers for many years, and the AFI network sees a growing need to particularly strengthen the DFL across member countries. 

This guideline note, complementary to the toolkit, presents key considerations for regulators and policymakers to understand, develop, facilitate policies and design interventions at advancing digital financial education and financial literacy.