The present world is moving fast towards the digitization era. We are to harvest the benefits of secure, fast, cheap, and real-time experience. As a result, the financial sector grows more digital with various opportunities. Certified Digital Finance Practitioners play the driving role to create financial inclusion and digitization. We will explore all about the CDFP and DFI courses and their pioneering digital finance ecosystem.
Table of Contents
About Digital Frontiers Institute
Digital Frontiers Institute is a non-profit organization with headquarter in Loop Street, Cape Town, Western Cape 8001, ZA, South Africa. DFI is a part of the Digital Frontiers Group. The DFG focuses on primary professional development activities include training and facilitating associations of professionals with executive education courses.
Three visionary geniuses David Porteous, Gavin Krugel, and Ignacio Mas founded it in 2015. The DFI provides a framework for continued professional development in digital finance through learning and certification, knowledge sharing, peer networking, and mentorship programs. Since 2017, it has been offering the CDFP certification program to cater to the certification gap for the financial professionals in the ecosystem.
Communities of Practice(COP)
It has the physical communities of practice(COP) in 18 cities. More than 2000 participants from 90 countries have learned digital finance-related issues so far from DFI. In addition, around 1500 industry professionals from 60 countries in the private, public, and development sectors are connected.
Founders
David Porteous – Chairman
David has had international involvement in finance inclusion initiatives for more than two decades. He received his bachelor’s degree in Accounting from the University of Cape Town and later obtained an M.Phil in economics from Cambridge and a Ph.D. (Economics) from Yale. David has held executive roles in public and private financial institutions in Africa and is the founder and CEO of BFA, a consulting firm based in Boston.
Gavin Krugel – CEO
Gavin has experience in the payments and financial services industry for over 20 years. He has managed large global development programs as a former manager of the Mobile Money for the Unbanked and Mobile Health programs at the GSMA. Besides, Gavin has led large multinational organizations and start-ups. He completed an MBA from the Grenoble Graduate School of Business.
class=”wp-block-heading”>Ignacio Mas – Co-Founder and former Executive Director
Ignacio Mas worked at DFI from March 2015 to 31 December 2020. Ignacio is a Senior Fellow at CEME at the Fletcher School. He has been deputy director at the Bill & Melinda Gates Foundation, has held senior telecoms jobs at Vodafone and Intel, and has been an adjunct professor at the Business School at the University of Chicago. He holds an SB degree from MIT and a Ph.D. from Harvard.
DFI has around 40 employees. Some of the key personnel are:
- Gavin Krugel, Chief Executive Officer
- Iesrafeel Jakoet, Chief Financial Officer
- Paul Hobden, Chief Operating Officer
- Sarah Corley, Deputy Director
DFI Vision
DFI envisions a world in which-
- The Use Of Digital Services Becomes Common
- Necessary Digital Tools and Education Are Provided
- Differentiated Notions of Digital Identity Are Enabled
DFI Mission
DFI’s mission is to build human capacity in digital financial services by equipping a new generation of professionals with the information, skills, and vision they need to deliver and guide society towards inclusive digital financial solutions.
Funders and Partners
The funders include The Omidyar Network, FSD Africa, and the Bill & Melinda Gates Foundation.
Fletcher School, Tufts University has partnered with DFI to provide certification of some courses.
DFI courses
The Digital Frontiers Institute (DFI) offers a variety of courses on digital finance, digital health, inclusive digital economies, regulation, and supervision. These courses are designed to provide professionals with the knowledge and skills they need to succeed in these rapidly growing fields.
Here are some of the DFI courses that are available:
- Certificate in Digital Money: This course provides an overview of the digital money ecosystem, including digital currencies, digital wallets, and digital payment systems.
- Leading Digital Money Markets: This course examines the different digital money markets around the world, including the United States, Europe, China, and Africa.
- Customers and Uses of Digital Payments: This course explores the different ways that people use digital payments, including for retail transactions, cross-border payments, and remittances.
- Blind Spots: Gender in Digital Financial Services: This course examines the gender disparities in digital financial services, and what can be done to address them.
- Digital Finance for All: This course provides an introductory perspective on how credit, insurance, and savings products for the informal majority have evolved and how they operate in today’s increasingly digital world.
- Digital Financial Inclusion Supervision 2.0: This course is designed for financial policymaking, regulatory and supervisory authorities. It covers planning, developing and implementation of an action plan for current and emerging risks.
CDFP (The Certified Digital Finance Practitioner)
The Certified Digital Finance Practitioner (CDFP) is a professional certification program offered by the Digital Frontiers Institute (DFI). The CDFP is designed to provide professionals with the knowledge and skills they need to succeed in the rapidly growing field of digital finance. It is a 3-year program set for digital aspirants to design and dominate their position and products in the era of technology.
You are learning and growing together with world-class professionals for continuous learning for a lifetime.
DFI launched its CDFP program in 2017 to cater to professional certification for digital financial services. It was a timely decision as the businesses, including financial institutes, grew heavily. It has more than 100 CDFPs now.
The CDFP program consists of 22 courses that cover a wide range of topics, including:
- Digital money and leading digital money markets
- The customers and uses of digital payments
- Regulation of digital financial services
- Technology and operational enablers
The CDFP program is delivered online and can be completed at your own pace. The program is also self-paced, which means that you can choose the courses that are most relevant to your interests and career goals.
The CDFP is a valuable certification for professionals who want to work in the field of digital finance. The certification demonstrates your knowledge and skills in this rapidly growing field.
Here are some of the benefits of becoming a Certified Digital Finance Practitioner:
- Increased knowledge and skills in digital finance
- Enhanced professional reputation
- Increased job opportunities
- Higher salary potential
If you are interested in a career in digital finance, the CDFP is a great way to get started. The program will provide you with the knowledge and skills you need to succeed in this exciting field.
WHAT ARE THE INTENDED OUTCOMES?
Professionals with the CDFP program should have a complete and world-class real-life idea and understanding regarding digital financial services, exposures, business models, product designs, and use cases.
The Graduates will get specialization in any of the three self-selected areas based on their career choice. Specializations areas are:
- The regulation of digital financial services;
- Customers and uses of digital payments; and
- Technology and operational enablers.
WHO SHOULD ATTEND?
The course is not for all the people around there. Professionals who are in the area of digital financial services and financial inclusion are the right fits for the CDFP course. The program for the longer term propels financial sector digitization.
WHAT TO EXPECT FROM THE PROGRAM
The CDFP program delivers both education and a community of professionals. Participants expect to get all the resources for analysis and understanding of the digital finance ecosystem.
Duration of the PROGRAM
CDFP program is excellent in terms of the self-paced system. You may take all the courses at your comfortable speed. The duration to complete the program is three years. However, with a flexible schedule, you can achieve with ease.
Class System
DFI is digital in the real sense. It operates courses online with its digital classroom. However, students will engage with many schedules like class calls, quizzes, the faculty lounge, etc.
Credit System
CDFP program graded out of the total 130 credits in two ways. Participants have to earn 110 credits with the short courses and 20 credits with the practical tasks, including research, webinars, peer review, literature review, etc. Credits earnable from the short courses are as below:
And for the practical points for 20 credits, you may take some of the routes below:
- Research Paper-Maximum 12 credits
- Peer Review-Maximum 4 credits
- Literature Review-Maximum 8 credits
- Blog Writing-Maximum 3 credits for each blog
- Webinar- Maximum 3 points
- Communities of Practice (COP) participation and engagements- Maximum 8 points
- Student Choice-Credits are negotiable with DFI.
How much does CDFP cost?
The CDFP program costs $4,000 nearing Tk 3,50,000. It is neither too much costly nor cheap. However, it is worth the investment if you consider the value and impacts. You will benefit a lifetime from the course. It will add value to your portfolio, confidence, and performance.
CDFP Graduates
Let us find some CDFP graduates who have been serving versatile organizations and catering to the necessity of digital supports worldwide.
1. CHRIS STATHAM is the first CDFP. He is from the United Kingdom with 13 years of DFS and MFI experience, primarily as a freelance consultant in Sub-Sahara Africa. The Mastercard Foundation sponsored his CDFP program.
2. KOMBE KAPONDA is the second CDFP graduate from Zambia. Kombe is currently serving at the Central Bank of Zambia. Before joining the Central Bank, he worked for the US Department of State (DOS) with the United States agencies in Zambia. FSD Africa sponsored his CDFP program.
Kombe did his CDFP practical on the State of Cryptocurrencies and Regulatory Challenges in Zambia.
3. CHARITY CHIKUMBI is DFI’s first female CDFP graduate from Zambia, the Policy & Digital Financial Services (DFS) Head at FSD Zambia. FSD Zambia sponsored Charity’s CDFP program.
4. TAVONGA MASENDEKA is the fourth graduate from Zimbabwe. He is a Senior Manager in the Digital Value Office for a financial services company with around 10 years of experience in digital transformation and fintech. FSD Africa sponsored his CDFP program.
5. MOHAMMAD RASHED is the fifth global and first Asian CDFP from Bangladesh. He has been working in Bangladesh Bank as a Joint Director since 2006. He has vast experience in AML/CFT regulations and supervision, foreign exchange operations, mobile money, financial inclusion, etc. He contributed to forming the financial professional association’ Digital Finance Forum Bangladesh’ and is now the Founding Convener. Moreover, he is also DFI’s COP facilitator in Dhaka.
6. OPHELIA AMA ONI is the sixth CDFP from Ghana working at Fidelity Bank for over 12 years with experience in e-banking, mobile money, and financial inclusion. She is a founding member of the Financial Inclusion Forum Africa and COP facilitator in Accra. The Mastercard Foundation sponsored his CDFP program.
7. ROBINSON MBAE is the seventh CDFP graduate from Rwanda. Robinson is a Digital Product Owner for the Bank of Kigali. Before joining Bank of Kigali, he worked as Assistant Manager at Chase Bank Kenya Ltd. He is the first East African CDFP.
8. EDMOND MACHENGETE, 8th CDFP, is a Zimbabwean working as an Acquiring Technical Lead at Bank of Kigali, Rwanda. Before joining the Bank of Kigali, Edmond worked as an EFT Engineer with EFT Corporation, Harare, Zimbabwe, where he implemented and supported payment platforms across Africa. The Mastercard Foundation sponsored his CDFP program.
9. FAHAD SHAHAB is the ninth graduate from Pakistan. He is a founding member of 1LINK, Pakistan’s national payment switch. He is also DFI’s COP Facilitator for Pakistan.
10. LUBASI MPASA is the tenth CDFP born in Zambia. Lubasi is an experienced Product Manager with a demonstrated history of working in the banking and telecom industries. Her CDFP topic focused on an investigation into the relationship between digital money penetration, cashless society, and financial inclusion in Zambia.
CDFP Graduates in Bangladesh
With the visionary leadership of MOHAMMAD RASHED, Bangladesh is performing outstandingly in the CDFP journey. Mr. Rashed is the first CDFP in Bangladesh and South Asia and 5th in the world. There are 27 CDFPs in Bangladesh and another 82 is very close to the finishing line doing their practical parts after completing the requirements.
100. DFI has crossed the milestone of 100 graduates recently and spotlighted the 100th CDFP graduate Shaila Afrin Mousumi is Deputy Director in the Banking Regulation and Policy Department at Bangladesh Bank, with a role in the Foreign Exchange Department. She is DFI’s 100th Certified Digital Finance Practitioner and graduated from the University of Dhaka with a Masters in Professional Banking.
Shaila holds the position of Communication Secretary of the Digital Finance Forum Bangladesh. She hopes that soon people will start using less cash and more digitally enabled payment solutions. Furthermore, she wants policymakers to create an inclusive framework that helps the financially excluded in Bangladesh.
Why should you choose DFI?
- Certification
- Digital Classroom
- Practical orientation
- Best of its kind
- Rare of its kind
- Wide coverage
- Scholarships
- Flexibility
- Community
- Lifetime
- Supportive
Foundation courses
Certificate in Digital Money
CIDM is a 10-week foundation course covering all aspects of digitizing money and payment systems, financial services, etc. You will find the basics and in-depth areas of digital money. CIDM at a glance:
- The course Cost-$1500
- Duration – 10 weeks
- Available in two languages: English & French
- Credits in the course: 30
- Certification by Fletcher School, Tufts University
The major areas you will learn in CIDM:
Leading Digital Money Markets
LDMM is A 10-week course covering all the meaningful and impactful global experiences on digital finance and money ecosystems. The use cases and expertise will help the digital finance practitioners lead the digital markets for money efficiently and effectively. LDMM at a glance:
- Listed costs-$1500
- Duration – 10 weeks
- Final Registration – 13 February 2022
- Available in two languages: English & French
- Credits in the course: 30
- Certification by Fletcher School, Tufts University
The major areas you will learn in CIDM:
SPECIALIZATION COURSES
Specialization digital finance courses will focus on specific areas to make the participants experts. Such studies are for different areas of the digital payment ecosystem ranging from regulations to use cases and technologies.
Technology and operational enablers
Mobile Money Operations
Mobile Money Operations is a specialized course by DFI to equip the participants with all aspects of technology, regulation, and use cases required for leading and operating mobile money business. The 5-week course offers all that you need to know and consider.
- $250/finance Available
- Course Duration – 5 weeks
- Available in English & French languages
- The course fee is $250
- Certification by Digital Frontiers Institute
BLOCKCHAIN & CRYPTOCURRENCY BITCOIN
BCB is a very hot course by DFI as the kingdom of Bitcoin has been spreading over the last couple of years. In this 5-week course, you will learn all that comes in the blockchain and cryptocurrency ecosystem.
- Course Duration – 5 weeks
- Available in English & French languages
- The course fee is $250
- Certification by Digital Frontiers Institute
Digital Identity
It is a 4-week course that introduces you to digital identity concepts. The study attempts to cover all the requirements, considerations, and challenges in ensuring the identity digitally. In addition, you can learn the use cases of the world’s most significant digital identity projects and noteworthy experiences like e-Estonia, Aadhaar, BankID & Mobile Connect.
- Course fee $250
- Course Duration – 4 weeks
- Available in two languages: English & French
- Certification by Digital Frontiers Institute
AI in Finance
AI is a new phenomenon to come as the controlling factor in the future in the fourth industrial revolution. Finance is taking the benefits of artificial intelligence for fast and accurate decisions these days. DFI has introduced a 9-week course on AI to equip finance professionals with all areas to know, grow, and focus on AI when implementing in finance.
- Course fee $500
- Course Duration – 9 weeks
- Language of instruction
- Certification by Digital Frontiers Institute
Understanding Tech In Business
It is a self-paced course offered and sponsored by DFI to understand all you need to know about technology in the business world.
You will learn versatile tech-based issues with interviews, quiz and use cases from experienced personnel. The course comes in 5 modules with lots of resources and ideas in the forms of foundational knowledge, vocabulary, and contexts.
- No fee as Sponsored by DFI
- Course Duration – Self Paced
- Start Date – Immediately
- Certification by Digital Frontiers Institute
Regulation of Digital Financial Services
Consumer Protection
Consumer protection is a 4-week course covering every aspect of protecting your customers in digital financial services. It also sheds light on the challenging areas and how to solve them securely at a low cost.
- Course Duration – 4 weeks
- The course fee is $250
- The language of instruction is English
- Certification by Digital Frontiers Institute
Regulation in Digital Finance
Regulation in Digital Finance presents all the regulatory aspects, frameworks, and impacts affecting digital financial services. Since the rules and regulations are tech-focused, it is also called the regtech in the digital finance arena.
- The course fee is $250
- Course Duration – 4 weeks
- Available in both English & French
- Certification by Digital Frontiers Institute
Anti-Money Laundering & Compliance
With the rise of terrorism worldwide, money laundering, terror financing, and the technological tools to combat them are getting attention. Anti-Money Laundering & Compliance is a 4-weeks course to equip digital finance professionals to fight against money laundering, terror financing with practical information, tools, and mechanisms.
- The course fee is $250
- Course Duration – 4 weeks
- Available in both English & French
- Certification by Digital Frontiers Institute
Cybersecurity
Cybersecurity has been one of the most critical focus points worldwide over the last few years. All types of organizations are now prone to cyberattacks. Financial institutions are the most lucrative targets for such attacks. Thus, digital finance professionals need proper cybersecurity fundamentals. Cybersecurity course by DFI comes with ideas to identify and manage cybersecurity in an organization.
- The course fee is $250
- Course Duration – 4 weeks
- Available in English
- Certification by Digital Frontiers Institute
Customers & Users of Digital Payments
Money Transfers
Money transfer is a 4-week course that shows all the history, present, and future of transferring funds(remittance). It is a comprehensive guide to understanding the remittance industry’s development, growth, and operations in different regions. The cost related to the fund transfer is also explained in detail. Financial advisors may also benefit from the course.
- The course fee is $250
- Course Duration – 4 weeks
- Available in English
- Certification by Digital Frontiers Institute
DIGITIZING HUMANITARIAN & SOCIAL ASSISTANCE
The course focuses on mechanisms and considerations for digital payments and funding in humanitarian aids, focusing on the mechanics of digital aids and social assistance.
- The course fee is $250
- Course Duration – 6 weeks
- Available in English
- Certification by Digital Frontiers Institute
Digitizing Agriculture: THE LAST MILE IN SMALLHOLDER AGRICULTURE
The course comes in 4-weeks and explores all the digital tools used in agriculture. The functionalities of the tools and impacts on agriculture, especially smallholder farmers. You will have realistic views about the digitization of agriculture around the world.
- The course costs $250
- Course Duration – 4 weeks
- Available in English
- Certification by Digital Frontiers Institute
Gender BlindSpots
The 4-week Gender BlindSpots course identifies and suggests ways to remove the barriers to access to DFS for women. It presents all inconsistencies prevailing and solutions to gender equality.
- The course fee is $250
- Course Duration – 4 weeks
- Available in English
- Certification by Digital Frontiers Institute
Understanding and Managing Risk
This 6-week course will cover everything with risks a business faces. An in-depth analysis of the types and nature of risks is presented with use cases worldwide.
- The course costs $250
- Duration of the course– 6 weeks
- Available in English
- Certification by Digital Frontiers Institute
Product Management
The Product Management course comes with all the areas that help understand product management in the tech-fin and fintech entities in the emerging and developing markets. Experts on the course include:
- Shabnam Osman, Head of Product, Yoco
- Muhammed Hamayun Sajjad, Head of Innovation & Digital Transformation, UBL
- Nuvin Jatala, Head IT & Strategy FINCA Microfinance Bank Limited, Pakistan
- Neil Schwartzman, Venture Builder, Econet
The Product Management at a glance:
- The course costs $850
- Duration of the course– 5 weeks
- Available in English
- Certification by Digital Frontiers Institute
Digital Finance for All
Digital Finance for All is a 4-week course covering all aspects of the evolution and operation of banking, insurance, and savings for the informal majority.
- The course costs $250
- Duration of the course – 4 weeks
- Certification by Digital Frontiers Institute
- Available in: English & French
Marketing In Emerging Markets
The course explores the marketing strategies and positioning for financial services in emerging countries with lower income and remote communities. It highlights the use of technology in marketing for the untapped population in hard-to-reach areas.
- The course costs $250
- Duration of the course – 4 weeks
- Certification by Digital Frontiers Institute
- Available in: English & French
MSME Finance
The course explores all the access to finance gaps, and barriers the Micro, Small, and Medium Enterprises(MSME) face in real life.
Then it presents the solutions to solve the problem from experience in many areas of the world. Therefore, professionals working with MSME are highly encouraged to enroll and explore the potentials MSME may provide if proper access to finance is available.
- Course Fee $250
- Duration – 4 weeks
- Language- English
- Certification-Digital Frontiers Institute
Financial Inclusion
Financial inclusion is an excellent course exhibiting how digital financial services have ensured the financial inclusion of the unbanked, untapped, and underprivileged people living remotely. You will also get ideas on the inclusion process and benefits to replicate in other countries or regions.
- Fee-$250
- Duration – 4 weeks
- Languages: English & French
- Certification-Digital Frontiers Institute
Financial Aid
DFI attempts to digitize the financial and payment ecosystem with knowledge-based and capable professionals and communities. Financial capacity cannot be a bottleneck in this mission. DFI tries to make your digital journey affordable with flexible payment options, financial aids, and scholarships. In case you need support regarding funding or payment, contact info@digitalfrontiersinstitute.org.
Affordable Payment plans
Feel free to talk to your course advisers for bringing flexibility to your payment schedules, if necessary. There are always multiple relaxing options to make your journey to digital knowledge in DFI.
Option 2 – Sponsorships and Scholarships
Digital Frontiers Institute aims at creating a society with the full potential of digitization in financial services and attempts to ensure that financial inclusion is in place for all. To gain the goals, the professional community needs a lot. DFI ensures none is left behind merely for funds. It strives to manage funds and scholarships for the participants from various sponsors like The Bill and Melinda Foundation.
Option 3 – Referral Program
Digital Frontiers Institute is ready to subsidize your courses on referrals. When you refer, there are opportunities for your free course availability.
For foundation Courses: Your foundation course is free of charge if you refer eight foundation participants.
For other Specialization Courses: Your specialization course is free of charge if you refer four participants successfully.
CDFP and DFI courses in Bangladeshi Perspectives
Bangladesh is very serious about digitization to take benefit of the coming fourth industrial revolution(4IR). Digital Bangladesh has been a buzzword since 2008 when the declaration came. Every year Digital Bangladesh has been celebrated for the last 5 years on December 12. All sectors are implementing digital innovations to go digital.
The financial sector under the leadership of Bangladesh Bank is also growing digitally in full swing. The wave of digitization in the financial sector has brought so many opportunities and even some threats. So, it has been a must to build digital knowledge-based human resources in this sector.
Here comes the name of a visionary central banker Mohammad Rashed who pioneered the new form of knowledge-based finance professionals. He is the first Asian CDFP, fifth globally. His practical orientation in various fields of the financial ecosystem and visionary attitude paved the way for so many CDFPs in Bangladesh. Bangladesh Bank, as the regulator and facilitator of the ecosystem, needs digitally sound officials. Mr. Rashed has successfully done that task in the collaboration with Digital Frontiers Institute.
Apart from the collaboration with DFI, he relentlessly worked to manage scholarships from the Bill & Melinda Gates Foundation for public officials working in the areas of MoF, BB, MRA, etc. The result is fast and fantastic. There have been around 20 CDFPs from merely the Bangladesh Bank to lead the banking and payment sector digitally. The number is on the rise with his facilitation.
Mr. Rashed is a savior in the journey of Digital Bangladesh. People will feel his valuable contributions in the years to come. He played a pivotal role in the formation of the professional association ‘Digital Finance Forum Bangladesh’ and now is in the role of Founding Convener. In addition, he is also DFI’s COP facilitator in Dhaka which is one out of 18 globally. Mr. Rashed, Convener, Digital Finance Forum Bangladesh is representing in the #Steering_Committee of The Alliance of Digital Finance.
Leaders of digital finance and Fintech country associations as well as Digital Frontiers Institute joined the conference organized by the Alliance of Digital Finance Associations (ADFA) in Cape Town, South Africa in April 2022.
Final Note
DFI has been playing a driving role in the digital space specially in areas of techfins and fintechs with its vesatile training products. Interactive, self-paced, remote training courses on digital platform are truly timely initiative that has drawn the attention of the change makers and donors worldwide. It has also created windows for communities in many countries to ensure a sustainable digital ecosystem. Thanks to Mr. Rashed who initiated the CDFP journey in Bangladesh to cater the real impact of digital Bangladesh especially in the financial sector. It is a great investment that is worth the money and time you put for the CDFP DFI courses to accelerate your career in the digital world.
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