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NDIC Kicks Off International Virtual Conference On Financial System Stability, Fintech, Others

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The Nigeria Deposit Insurance Corporation (NDIC) has taken the front seat in the international finance community to drive public discourse on the impact, risks, challenges and opportunities of Financial Technology (FINTECH) by organising a two-day Virtual International Conference with the theme “Financial System Stability, Fintech and Emerging Risks: Challenge for Bank Supervisors” from Thursday, 22nd to Friday, 23rd October 2020.

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.

According to a statement by the NDIC Director, Communications and Public Affairs Department (CPAD), Mr. Bashir Nuhu, 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.

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.

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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