4.19. How to make Africa’s digital financial services more cyber resilient?
12.15 - 13.15
Recording of session 4.19
Digital financial services have become essential for strengthening financial inclusion worldwide. Only in Africa, there are thousands of financial institutions responsible for managing the assets of about 250-300 million customers. Multiplication of critical cyber incidents could hamper the development of the sector and its effort to fight poverty. Therefore, cyber resilience of the financial sector is a prerequisite to the development of a safe and responsible financial inclusion and securing the rapid development of financial services, digital financial services and FinTechs.
- What are the barriers to overcome and potential solutions to implement (trust building, community management, organisation, procedures, tools, capacity building) to build a trusted and diverse community composed of central banks, banks, insurances, microfinance, microinsurance, telecom networks, fintech and electronic money operators?
- How to strengthen cooperation and information sharing between different stakeholders, including central banks, incident response teams or regulatory bodies and scale up rapidly?
- What are the lessons from the financial services that are relevant or could be leveraged for other sectors?