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As stated in the foreword to the 2012 Core Principles for Effective Banking Supervision (“Core Principles”) of the Basel Committee on Banking Supervision, “…effective banking supervisory practices are not static. They evolve over time as lessons are learned and banking business continues to develop and expand”. Therefore, this Guidance is intended to help supervisors respond to changes and innovations in the products, services and delivery channels of financial institutions working to reach the approximately 2 billion adults currently unserved or underserved by formal financial institutions. The Guidance may also help supervisors respond to innovations not specifically designed for unserved and underserved customers.
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