The mobile money and digital assurance is important to mitigate the root cause areas of leakage such as errors in pay out of commissions & fees, money laundering etc. If not followed it leads to challenges like:
- Blindsided on risk of onboarding high risk customers
- Poor visibility into transaction errors between P2P or P2B
- Increased risk of partner disputes and error in pay out of commissions & fees
- Ineffective approach to increase mobile money adoption
- Low visibility on use of mobile money platform for use of money laundering and financial terrorism