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E-FINANCE IN BRAZIL

• REGIONAL HIGH-LEVEL WORKSHOP ON ELECTRONIC
  COMMERCE AND ICT FOR CENTRAL AMERICA AND THE
  CARIBBEAN (25-27 JUNE 2002, CURAÇAO, N.A.)
• Roberto Bedrikow
• Legal Manager, SERASA

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PRESENTATION OUTLINE

• Introduction
• Digital inclusion a shared challenge
• Security of electronic information the Gov-PKI
• Security of e-commerce and e-finance Brazil-PKI
• The New Brazilian Payments System
• Other initiatives for improving the internets
  reliability
• Conclusions

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INTRODUCTION

• E-finance internet-mediated financial services
• Expert Meetings recommendations on e-finance
  - friendly regulatory environment -
  secure methods of electronic transmission -
  legally binding e-messages and e-contracts -
  supportive institutional environment -
  public-private co-operation
• Development of effective e-finance services in
  Brazil - Government/private actions -
  adoption of minimum regulatory measures -
  market demand for legally binding contracts

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DIGITAL INCLUSION (I)

• 1999 INFORMATION SOCIETY PROGRAMME requires
  actions from the Government the
  private sector the civil society
• 2000EXECUTIVE COMMITTEE ON E-COMMERCE 6
  Ministries 1 National Telecommunications
  Agency 1 Academic Community 6 Private
  Sector - 3 Industry, Commerce and Transport
  - 1 Software Services Companies - 1
  Internet Providers - 1 Banks

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DIGITAL INCLUSION (II)

• FINANCIAL TRANSACTIONS AUTOMATED 1998
  60.3 2000 74.7 R12.2 billions
  (1USR2.7) 2001 R20 billions
  () Financial system in a leading
  position in introducing new technologies
  creating a new technological culture
• HOUSEHOLDS WITH ACCESS TO INTERNET 2000
  /2001 50 growth 2002 13 millions

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DIGITAL INCLUSION (III)

• INTERNET BANKING 370 MILLIONS (2000)
• ON-LINE BUSINESS US 1.7 BILLIONS (2000)
• PERSONAL CREDIT 1995-99 103 GROWTH 1995-00 5
  86 GROWTH
• CREDIT INFORMATION (SERASA) 2002
  2.5 MILLIONS QUERIES/DAY

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DIGITAL INCLUSION (IV)

• PRIVATISATION OF TELECOMMUNICATIONS INCREASED
  THE OFFER OF SUCH SERVICES TO BRAZILIANS IN
  GENERAL
• DEVELOPMENT OF E-FINANCE DEPENDS MUCH MORE ON
  SECURITY OF THE TRANSACTIONS AND THE LEGALLY
  BINDING NATURE OF ELECTRONIC DOCUMENTS AND
  MESSAGES THAN ON TECHNOLOGICAL REVOLUTION AS TO
  ACCESS TO INTERNET AND E-FINANCE
• FULL ACCESS TO INTERNET IS STILL UNACHIEVED
  PUBLIC POLICIES NEEDED

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THE GOV-PKI

• Governments commitment to new technologies in
  the Federal Administration
• The Security Issue 4 principles
  - availability - integrity -
  confidentiality - authenticity

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THE GOV-PKI

• Trust defined required public and private CA and
  RA to be formally approved and operate under a CA
  Root
• Before came into operation the private sector
  expressed its interest in broadening the scope of
  Gov-PKI
• The Brazilian Banks Associations Federation asked
  for a regulated-PKI allowing for secure and
  legally binding financial transactions, that is
  for real e-finance

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THE BRAZIL-PKI

• Three main concerns -
  security - trustworthiness - legal
  validity

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THE BRAZIL-PKI

• Medida Provisória (Presidential Act) 2.200-2
• Art. 10, paragraph 1 legal validity of
  electronic documents and transactions, provided
  made using Brazil-PKI digital certificates or
  other previous agreed by the parties
• Federal entities required to use only Brazil-PKI
  digital certificates
• The AC Root (Information Technology Institute)
  moved from MST to be attached directly to the
  Presidency of the Republic itself

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The New Brazilian Payments System

• Since 22 April 2002
• Payments transfers are made electronically
• Amount of money available increases
• Credit risks decreases
• Security improved since positions are updated
  many times during the day
• BPS uses Brazil-PKI digital certificates by
  SERPRO (public sector) and SERASA

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Other Initiatives

• BS 7799 and ISO 17799
• Bills on privacy and consumer protection
• Bills on cybercrime (Government, Parliament and
  Civil Society)
• Credit risks decreases

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CONCLUSIONS

• Government is committed and gives the example
• Financial sector introduces technology and
  culture
• Co-operation between Government and private
  sector, particularly the financial sector
• Security d-commerce
• Legal validity of documents and transactions
• Trust
• Public Policies must always continue (long term
  effect)

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CONTACT AND INFORMATION

• E-mail robertobedrikow_at_serasa.com.br
• www.iti.gov.br
• www.icpbrasil.gov.br

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