This is a progressive step to help customers gain control over their financial data and use it for accessing a variety of products including credit, insurance, investments for their own benefit. Centralised KYC (CKYC) and Video KYC are other enablers to facilitate seamless onboarding of customers in a digital and cost effective manner. We are giving greater focus on these initiatives. 19.
To illustrate this point, I would like to draw on two examples: First, can coordination help moderate volatility in response to specific shocks, especially those emanating from global players? Second, can it prevent the emergence of global imbalances?