Development of NBE’s DFS Data Management Solution

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Introduction :

Introduction

The National Bank of Ethiopia (NBE), like other central banks in emerging and frontier markets, stands at a critical juncture in the evolution of the Ethiopian financial sector. Digitization is driving rapid growth in financial services, spurred on by supportive regulation geared towards advancing digital financial services (DFS) and inclusion. However, a bigger, more digital, and complex financial ecosystem also presents challenges for supervisors and regulators. 

To facilitate the growth and regulation of Digital Financial Services (DFS) in the country, the National Bank of Ethiopia (NBE) is focused on enhancing its data management capabilities. The objective is to automate the collection and storage of data, ensuring efficient and sustainable management, as well as more effective analysis. This step is crucial in supporting the burgeoning DFS sector. To initiate this automation process, NBE, in partnership with UNCDF, has recently carried out a comprehensive diagnostic assessment of its existing data architecture. This assessment was aimed at understanding the most effective ways to utilize DFS data for the improved regulation and supervision of the sector, marking a significant stride towards modernizing its data handling approach.

To this end, NBE aims to develop a robust web-based application that automates the collection, management, and analysis of DFS data as detailed in the solution specifications below. The Payment & Settlement System Directorate will host this solution, focusing on streamlining payments-related data.  

The primary goal of the portal is to institutionalize data automation processes. This will ensure that transaction-level and highly disaggregated data can be efficiently shared between the financial service providers (FSPs) and NBE, enabling near-real-time data availability, advanced analytics, data visualization, and seamless integration with existing NBE information systems. Ultimately, the developed solution should streamline data collection, improve data quality, enhance analytical capabilities, and provide actionable insights to promote financial stability, integrity, inclusion, and evidence-based policy decisions

 

[SCOPE OF TENDER……]

The key objective of the assignment is to develop a solution that enables the NBE to achieve the following goals:   

·     Automate the collection of transaction-level and highly disaggregated DFS data from FSPs in near-real time (daily) and eliminate all possible manual intervention. 

·     Ensure data accuracy and integrity through robust data verification mechanisms. 

·     Enable integration with FSP systems and existing NBE information systems to facilitate seamless data sharing and collaboration. 

·     Provide highly interactive and customizable dashboards for data visualization, real-time analytics, and printable/shareable reports. 

·     Enhance data security and protection. 

·     Facilitate efficient rollout, training, and ongoing support to maximize user adoption and system reliability. 

NBE aims to improve data collection and management processes to adopt a more proactive regulatory and supervisory approach, given the rapidly changing DFS landscape. The solution should be developed with consideration for the current context of different entities regulated by NBE, ensuring it facilitates compliance during the transition to full automation. 

 

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Documents :

Negotiation Document(s)
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UNCDF – TANZANIA

Deadline :

10-May-24 @ 05:00 AM (New York time)

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