Similarly, the recent measures such as better customer control on card usage, shorter Turn-Around-Times for transaction failures, tokenisation are all initiatives intended to protect the customer. 12. Regulation of digital lending apps is another example of regulations aimed at responsible practices and customer protection.
At the heart of any  financial system is public trust; regulation can help confer legitimacy on regulated service providers, but the value of this support is quickly eroded if the underlying integrity of governance structures is not well-entrenched.