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Fintech: NDIC hosts virtual conference on bank supervisors’ challenges

The Nigeria Deposit Insurance Corporation (NDIC) has said that it is organising an international virtual conference as part of its efforts to drive public discourse on the impact, risks, challenges and opportunities of financial technology (Fintech).


In a statement, the Corporation said that the two-day conference, which has as its theme: “Financial System Stability, Fintech and Emerging Risks: Challenge for Bank Supervisors,” begins today, Thursday, 22nd of October to Friday, 23rd October, 2020.


According to the statement: “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.”


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 effort to promote knowledge and experience sharing amongst key stakeholders on Fintech, as well as provides opportunity to promote broad discussion on policy options to address emerging risks and opportunities associated with Fintech. Specifically, the 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.”

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