FMI and Fintech: Oversight and Innovation in Payments and Settlements

Why Attend

•What are the implications of CBDCs for payments and settlements? •How are technological innovations and advancements impacting payments and settlements? •Where do the opportunities lie to improve payments? Innovation in financial technology continues to re-draw the contours of the oversight landscape. New players, new risks, new products, new networks. In 2022, CBDCs, crypto assets, and stablecoins have the potential to revolutionize payments, yet they also present significant challenges and disruptions. Traditional methods of payments increasingly seem outdated, and central banks are at risk of falling behind if they do not foster the new developments. The question for overseers is how to strike a balance between promoting innovation, encouraging competition and protecting the financial system. This course is designed to equip central bankers to meet these challenges. Each day will feature three hours of expert-led Live Content to maximise the opportunity to share and learn. The chair will ensure participants have opportunities to network throughout the course, culminating in the Practical Implementation Workshop

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Course Objectives


  • At the end of the training, participants will be able to:
  • • Understand how financial market infrastructures are responding to innovation
  • • Assess the key challenges facing FMIs such as bigtech, CBDCs and DLT
  • • Assess the opportunities for improving cross-border payments
  • • Gain insight into how oversight frameworks are changing
  • • Apply network analytics to FMI design and oversight


Target Audience


Suitable for central Bankers, Banking Supervition, Fintech

The Key Risks in the Changing Landscape of Payments

Impact of technology on the oversight framework: key challenges in focus

  • The state of the art of financial technology in 2021
  • Key forces, trends and dynamics shaping financial market innovation
  • Unavoidable risks, critical challenges and emerging opportunities
  • Discussion: how do central banks need to change to make the most of fintech?

CBDCs, stablecoins and crypto assets: what are the implications for payments and settlements?

  • Differences and overlaps between privately issued crypto assets and central bank digital currencies (CBDC)
  • Building blocks of effective regulatory and supervisory frameworks for privately issued crypto assets
  • Implications of CBDCs for financial stability, payments and settlements
  • Discussion: do CBDCs represent a realistic and desirable goal?

Financial inclusion and digital financial services

  • Overview of current state of Financial System Ecosystem
  • Understanding Financial Inclusion 
  • Mobile Money and Agency Banking
  • Discussion: How is DFS enhancing financial inclusion?

Regulating and Improving Payments

Impact of technology on the oversight framework: key challenges in focus

  • The state of the art of financial technology in 2021
  • Key forces, trends and dynamics shaping financial market innovation
  • Unavoidable risks, critical challenges and emerging opportunities
  • Discussion: how do central banks need to change to make the most of fintech?

Making real-time payments a reality: an overseers’ guide

  • What is the distinction between wholesale and retail payments?
  • What are the different approaches central banks can take for real time payments?
  • Challenges that have arisen as more and more central banks create real-time payments
  • Opportunities from central bank experiences

 

Enabling CBDC and the role of digital identity in payments

  • Tokenisation for real time settlement
  • CBDC experimentations
  • How digital identity can be integrated in compliance processes

Use of Technology within Payments and Settlements

Fintech and innovation: sandboxes, incubators and accelerators

  • Sandboxes, incubators and accelerators: a central bankers guide
  • Role and functions in innovation strategies
  • Tips for helping innovation comply with legal and regulatory requirements
  • Issues for funding resourcing cross-jurisdictional cooperation

Introducing a CBDC - how to apply advanced analytics and simulations to understand the opportunities and risks

  • State of play - CBDC and Digital Money
  • CBDC Simulation - overview and key applications for Central Banks
  • Demonstration - CBDC Simulation in action

Regulatory implications of fintech

  • Emergence of new services and actors
  • The impact on regulatory frameworks
  • Consequences for regulatory approaches
  • The global perspective
  • Outlook

Strengthening the Future of Financial Market Infrastructures

How will big tech, DLT and digital money affect financial market infrastructure?

  • Financial market infrastructure: a guide to the new normal
  • Overview of key disruptive forces and dynamics challenging FMIs
  • How are FMIs changing to utilise fintech?
  • Discussion: what do these changes mean for central banks as overseers and settlement providers?

Applying network analytics and agent-based modelling in FMI design and oversight

  • Impact of fintech on the evolution of FMIs
  • Applications of advanced technology in the areas of network analytics and agent-based models for FMI oversight
  • Tips for collecting and effectively combining qualitative and quantitative statistic

 

Closing remarks and delegate action plans

  • Summary of the course
  • Discussion of the observed trends and case studies
  • Application of learning points in the delegates’ home organizations
  • Preparation of action points

 

Implementation Workshop

Benefits of attending the Implementation Workshop:

  • Developments in the area since the live content sessions, including new resource material
  • Questions arising since returning to the central bank
  • Challenges of implementation: where are the roadblocks?
  • Medium-term goals: what is realistic?
  • Establishment of group network to keep in touch with peers and share best practices

Step 1: Select Prefered Schedule


Date Fee (GHS)

Step 2: Choose Registration Type