Identity in Support of Financial Systems for Digital Transformation: The case of Perú. Ing. Luis Bullón Salazar, PhD. GERENTE GENERAL RENIEC
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1 Identity in Support of Financial Systems for Digital Transformation: The case of Perú Ing. Luis Bullón Salazar, PhD. GERENTE GENERAL RENIEC
2 PERU RENIEC PERU AND THE INTERNATIONAL FINANCIAL SECTOR PERU FINANCIAL SECTOR
3 PERU
4
5 Total Area Km2 Capital: Lima 24 Departments + Callao Total Population Hab. Population by Age Minors % Adults 69.56% Genre Population Women 49.87% Men 50.13% Oficial Language Spanish Quechua Aimara 5 5
6 REPUBLIC 25 REGIONS 199 PROVINCE 1669 DISTRICTS
7 Key Indicators ( e ) 2018 ( e) Growth GDP Real (var.%) 3,9 3,5 3,8 Inflation (var.%) 3,6 2,8 2,3 Fiscal Deficit (%GDP) -2,3-2,4-2,1 Government Debt (%GPI) 23,8 26,1 27,3 Balance(%GDP) -2,8-2,6-2,7 International Reserve (MMS) 61,9 62,5 63,0 Fuente:BCRP,MEF,Fitch
8 OVERVIEW OF OF THE GLOBAL ECONOMIC PERÚ GDP US$ MMM 2016: : : : 201 Global sale US$ Enterprise % sale Micro 96,2% 5% Small 3,4% 15% Grand 0,4% 80% 2006: 88,6
9 BANK`S CREDIT Population`s Age >18 23 MM Population Score 1,2 MM AAA Banked ,2 MM AA 4,2 MM Previous Evaluation 2,9 MM Denied (25% - 15%) 0,7 MM AA Unbanked 12,2MM 4,8 MM Previous Evaluation 4,3 Denied Loan in MMUS$ 2016: $ : $ : $195 Sources: Equifax, ASBANC
10 RENIEC
11 (NATIONAL REGISTRY OF IDENTIFICATION AND CIVIL STATUS) A constitutionally autonomous public body Created on July 12, 1995; Law N Technology that identify us 2:04:39
12 Register Offucess 1339 (On line Register Offices) Oficinas RENIEC Cantidad Oficina Registral OR 53 Oficina Registral Auxiliar ORA 104 Agencia 87 Punto de Atención 138 Plataforma Virtual Multiservicio 11 Total 393 OREC Afiliada Cantidad Municipalidad Provincial 174 Municipalidad Distrital 560 Municipalidad de Centro Poblado 11 Total 745 Consulate Cantidad Consulate 201 Total 201 PIU LAM TUM CAJ CAL AMA LAL ANC SAM HUC 9 14 LIM LOR PAS JUN HUV AYA 5 ICA UCA APU ARE CUS MOQ PUN MDD TAC Abreviatura AMA ANC APU ARE AYA CAJ CAL CUS HUV HUC ICA JUN LAL LAM LIM LOR MDD MOQ PAS PIU PUN SAM TAC TUM UCA Descripción Amazonas Áncash Apurímac Arequipa Ayacucho Cajamarca Callao Cusco Huancavelica Huánuco Ica Junín La Libertad Lambayeque Lima Loreto Madre de Dios Moquegua Pasco Piura Puno San Martín Tacna Tumbes Ucayali 12
13 REGISTER OFFICES 3887 (Municipalities with Manual Register) Tipo de OREC TUM PIU LAM Cantidad Municipalidad Provincial 3 Municipalidad Distrital 1098 Municipalidad de Centro Poblado Comunidad Nativa 451 Oficina Auxiliar de Registro del Estado Civil 34 Total AMA CAJ LAL ANC CAL LOR SAM HUC UCA PAS JUN HUV CUS LIM ICA APU AYA ARE MDD PUN Abreviatura AMA ANC APU ARE AYA CAJ CAL CUS HUV HUC ICA JUN LAL LAM LIM LOR MDD MOQ PAS PIU PUN SAM TAC TUM UCA Descripción Amazonas Áncash Apurímac Arequipa Ayacucho Cajamarca Callao Cusco Huancavelica Huánuco Ica Junín La Libertad Lambayeque Lima Loreto Madre de Dios Moquegua Pasco Piura Puno San Martín Tacna Tumbes Ucayali Nota: No incluye Lima Metropolitana y callao por estar MOQ incorporado TAC 13
14 IDENTIFICATION SYSTEM Keeping the Unique Registry of Identity updated CIVIL REGISTRATION SYSTEM Registration of births, marriages, divorces and deaths ELECTORAL SYSTEM Preparing the Electoral Roll and Verification of Residence CERTIFICATION AND DIGITAL REGISTRY Certification and Digital Registry (Law. N 27269, D.S. N PCM)
15 Payment on eid A significant barrier to financial inclusion is reliable proof of identity Financial Inclusion Strategies Reference Framework, World Bank, June 2012
16 INTER- OPERABILITY Peruvian State Cloud Tramittaion Site/ Digital Services Unique Window Electronic Address/ Citizen ś File Digital Services Digital Identity Digital Certificates (PKI)
17 What is available? Digital Certificates(PKI) Law of Digital Signatures and Certificates N Reglamento D.S. N PCM Private Sector Public Sector
18 On Line Registers CUI: UniqueCode of Identification, support 99 million of registers Compound of 8 digits CUI One digit is used for errors`s detection 18
19 Tecnological Convergence used to innovate and provide better service to citizens Digital Identity REGISTRY DATA (RUIPN) BIOMETRY GEOLOCATION DIGITAL IDENTITY 19
20 4 types of use Digital Identity Basic Data of Identity Advanced Data of Identity (ICAO) Biometric Application (MOC/ Match on Card) PKI Application (Digital Identity)
21 1,000 forms of application Digital Identity Electronic Vote Property Job International Trade Payment Services Justice Electronic Invoice Police Record Certificate Banking and Financial Services Electronic DNI Transportation (Drivers License) Seguridad Citizen Ciudadana Security Creation of Companies Health and Social Security Education Social Programs
22 NUMBER OF CONSULTS MADE BY ENTITIES OVER EXTERNAL SERVICES BY YEARS ACCORDING TO THE TYPE OF ENTITY AND SERVICES, ,300 ENTITIES SERVICE/ TYPE OF ENTITY AÑ O TOTAL TOTAL PRIVATE Dedicate Linea Internet Biometric WEB PUBLIC Dedicate Linea Internet Biometric WEB
23 AÑ O SERVICE/ TYPE OF ENTITY TOTAL TOTAL PRIVATE NUMBER OF CONSULTS MADE BY ENTITIES OVER EXTERNAL SERVICES BY YEARS ACCORDING TO THE TIPY OF ENTITY AND SERVICES, Dedicate Linea Internet Biometric WEB Dedicate On Line Services Sector % Financial Sector 52,40% TELCO 32,60% SUNAT + MTC 12,40% BIOMETRIC Sector % Financial Sector 24,40% TELCO 50,10%
24 AÑ O SERVICE/ TYPE OF ENTITY TOTAL TOTAL PUBLIC NUMBER OF CONSULTS MADE BY ENTITIES OVER EXTERNAL SERVICES BY YEARS ACCORDING TO THE TIPY OF ENTITY AND SERVICES, Dedicate Linea Internet Biometric WEB DEDICATE LINEA (US$ 0,09) RANGES TASA TASA DESC , ,27 0, ,24 0, ,22 0, ,20 0,10 PRECIO BASE , BIOMETRIC (US$ 0,42) RANGES TASA TASA DESC , ,84 0, ,42 0, ,27 0, ,27 0, ,19 PRECIO BASE ,40
25 Confianza en Instituciones INSTITUCIONES PUBLICAS RENIEC 55% 59% 67% 83% 2. 40% 49% 59% 63% 3. 45% 45% 45% 57% 4. 34% 51% 42% 55% 5. 44% 43% 45% 55% 6. 43% 39% 52% 50% 8. 33% 37% 43% 48% 7. 37% 39% 39% 43% 9. 31% 23% 32% 36% % 23% 27% 25%
26 FINANCIAL SECTOR
27 Fighting Fraud, Crime & Corruption Most countries were able to reduce crime with a reliable identification reliable identification methods electronic payments Reduce: - Fraud - Corruption - Black economy - Organized crime - Operating costs - Tax evation Increase: - Transparency - Efficiency
28 Potential Savings in Benefit Programs Savings related to social benefit fraud South Africa: $186m of savings related to social benefit fraud after the introduction of biometric checks Reduction of financial system operating costs U.S.A. : $1 billion of savings over 10 years South Africa: $375 million of savings projected for the first 5 years
29 OVERVIEW OF FINANCIAL INCLUSION ECOSYSTEM PERÚ 2000: Digital Law 2005: Enables bank to use retailing agents 2011: SBS Commited to the Maya declaration 2012: MEF participation in G20 Financial Inclusion 2012: Signing the Los Cabos Declaration of Financial Inclusion: Multisectorial Commision of Financial Inclusion
30 OVERVIEW OF FINANCIAL INCLUSION ECOSYSTEM PERÚ 2013: Establish regulatory framewok for e-money - Digital signature 2015: The National Strategy for Financial Inclusion was approved 2016: Mobile Wallet BIM was launched 2016: Administrative simplification through interoperability:biometric register, geo-location, labour, payroll, invoice, justice ś notifications, health ś historic, car ś license, educational history, properties, address. 2017: 65 government institution in the PIDE: Digital Notification-Justice, Digital History Health,
31 NATIONAL STRATEGY FOR FINANCIAL INCLUSION 2015 Enabling Legislation Published in 2015 Goal: 75% of adults banked by 2021 Critical legislation and regulation: enable developers to design and launch new products Almost 70% of Peruvian lacking access to a bank account, but 65% have mobile phone Focus: digital payments Antecedents Mobile Payment: Gross transaction between US$ 2,2 MMM
32 Combining National eid with Payment Convincing benefits: Nationwide deduplication of identities (by biometrics) Addresses Know Your Customer (KYC) rules Serves as bank savings account for everyone Thoroughly verified target for government disbursements Security against identity theft (Perú: 1% - 5% of Net Income) No separate identification necessary during purchases Can be combined with mobile payment schemes Money Remittance by expatriates to home families Increases electronic transactions Helps to counter tax evasion and corruption
33 Top challenges for Peru Financial Inclusion: 75% of adults by 2021 Fraud, Crime & Corruption: All money transactions will be digital by 2021 Government Disbursement Cost & Fraud: Estimated saving : US$ 2MMM
34 Beneficiaries : 40 thousand Benefits: Paperless: Savings of 2 million soles per year It can be done anywhere Less time: from 25 to 2 days
35 MODELO PERU: Mobile Wallet BIM (Billetera Movil) 2016 Te world first shared mobile payment platform Goal: Digital payments to five million Peruvians in the next five years Antecedents: Clearing house, share ATM strong level of trust Partnerships: 34 financial institution ASBANK Long term value Jointly founded: Pagos Digitales Peruanos US$ 10 MM 2.5 years Developed: a business program called BIM Launched: February BIM included The brand : Mark and Mkt campaign The technology: accessible to even the oldest feature phones The business rule: all user types, interoperability, openness, agents, fees, transactions Agents: 10,000 points of services
36 MODELO PERU: Mobile Wallet BIM (Billetera Movil) Clearing and setting of transactions work Standard integration process One core transactional platform Real time transaction Cycle 24 hours: Balance of funds between issuers Initial cycle: Funds held by the issuers equal the value of funds held by their BIM customers Characteristics of BIM Does not require a bank account to sign up Users do not need available minutes or data on their mobile plan to send or receive money BIM allows for transaction deposits transfers or withdrawals of up to S/ 999 soles (US$ 300)/day, S/ 4,000 soles (US$ 1,200) per month
37 MODELO PERU: Mobile Wallet BIM (Billetera Movil) Incentives for using BIM Platform works anywhere and every where Lower cost More efficient The government has launched a digital invoice Reduce risk especially of the most vulnerable Cost of transaction: S/0.10 (US$0.03) for < S/50 (US$15) Use of BIM PDP only provide services directly to the issuers Entry point to using BIM are the financial institutions Banks differentiate themselves via their product choice of serving that meet their clients needs 2016: 300,000 suscribers.
38 TAX PAYMENTS World wide (2016) US$ 7,7 trillion worth of payments Tarzania: Increases the country ś annual revenue by almost $ 500 MM/year Uganda: Boosting revenue by 167% per year Peru Gateway system to make tax payment digitally: Individual Corporate Move people and business out of the shadow economy
39 OVERALL BENEFITS Inclusion Low income people in Peru do not like going to bank offices 39% of the districts do not have a bank or ATM Overcome poor infrastructure and difficult geography Credit rating for users based on their transactions Minimize informal economy Reduction of transactions cost More than 10 MM Peruvian adults do not use any financial service al all due to the high transaction cost, financial illiteracy, and remoteness
40 FUTURE SERVICES IN PERU ALL TH SERVICES WITH N-eID Disasters: Biometric enrollment of all the people Food programs Electronic vouchers Pension 65: Make and receive payments electronically Mobile money payment for wages Donations: digital platform from all over the world. Make contribution from your mobile phone RED Card: A debit card program to help families pay for basic needs or to repair their homes Microcredits Microinsurance Microsaving Identification of all passengers who travel by interprovincial ś bus
41 5. TRANSFORMACIÓ N Y FUTURO DIGITAL The today citizens are very connected They are waiting for100% of digital services better from de Government
42 1 Robert Cull, Asli Demirguc-Kunt, Jonathan Morduch, Banking the World: Empirical Foundations of Financial Inclusion, Massachusetts Institute of Technology, Klapper and Demirguc-Kunt, Measuring Financial Inclusion: The Global Findex Database, World Bank Policy Research Paper 6025, 2012 Financial Inclusion Situation: Missing access to formal financial services for a huge part of the population Approx. 2.5 billion people worldwide1 over 2/3rds of adults in most developing countries2 76% of the population in sub-saharan Africa
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