NDIC holds FinTech virtual International conference

By Chika Otuchikere

The Nigeria Deposit Insurance Corporation (NDIC) has put together a two-day virtual international conference on Financial Technology (FinTech).

By this conference, NDIC is championing the international finance community public discourse on the impact, risks, challenges and opportunities of Financial Technology (FinTech).

The theme of the event which hold from Thursday, 22nd to Friday, 23rd October 2020 is “Financial System Stability, Fintech and Emerging Risks: Challenge for Bank Supervisors”.

According to the NDIC director of communication and public, Bashir Nuhu, “the Conference, which is the first of its kind to be hosted by a Deposit Insurance System (DIS) in the African region, is informed by emerging developments and financial system stability effects of Fintech and COVID-19 pandemic”.

Nuhu also said the conference is part of NDIC’s effort to promote knowledge and experience sharing amongst key stakeholders on Fintech, as well as provide opportunity to promote broad discussion on policy options to address emerging risks and opportunities associated with Fintech.

Speakers and participants will be drawn from the International Association of Deposit Insurers (IADI), World Bank, International Monetary Fund (IMF), sister deposit insurers, supervisory & resolution authorities, as well as professionals & practitioners in the financial systems across the globe.

Some of the local participants are drawn from the Central Bank of Nigeria (CBN), FITC, Chartered Institute of Bankers of Nigeria (CIBN), Independent Corrupt Practices Commission (ICPC), Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), amongst others.

“The two-day virtual conference will address pertinent topics such as: How Big Tech and Asian Banks are Reinventing Banking; Emerging Issues on Cyber Risks; Artificial Intelligence, Machine Learning; and Consumer Protection in the Fintech era.

“Other topics include, the use of Regulatory and Supervisory Technologies as Early Warning Signals; Regulation of Fintech Payment Service Banks (PSBs); and Identifying the Potential Impact of Disruptive Technologies on On-Site Supervision,” he stated.

The Chairman, NDIC Board of Directors, Mrs. Ibironke Sokefun will give the Opening Remarks, while Managing Director/Chief Executive of the Corporation, Umaru Ibrahim will give the Welcome Address. Also, the International Association of Deposit Insurers (IADI) Secretary General, Mr.David Walker, will deliver Keynote Remarks.

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