NDIC hosts fintech conference

The Nigeria Deposit Insurance Corporation (NDIC) is organising a two-day virtual international conference on “Financial System Stability, Fintech and Emerging Risks: Challenge for Bank Supervisors” on Thursday and Friday next week.

The conference, which is the first of its kind to be hosted by three deposit insurance system (DIS) in the African region, is informed by emerging developments and financial system stability effects of Fintech and COVlD-19 pandemic.

According to a statement from director, communications and public affairs of the corporation, Bashir Nuhu, the conference, brings together speakers & participants 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 conference is part of an effort to promote knowledge and experience sharing amongst key stakeholders on Fintech, as well as provides an opportunity to promote broad discussion on policy options to address emerging risks and opportunities associated with Fintech.

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 (P535); and identifying the Potential Impact of Disruptive Technologies on On-Site Supervision.

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