The existing risk-management techniques worked well at predicting small day-to-day losses in the middle of the distribution but failed to anticipate severe losses that are much rarer. But clearly, it is exactly those severe losses that matter most.
As part of the Bank’s policy to transform the financial  ecosystem,  the  first  phase  of  mobile  money  interoperability project was implemented in May 2018. Under the project, disparate mobile money platforms were linked through the central switch to facilitate funds transfer across mobile money networks.