By Modupe Gbadeyanka
A two-day training programme to equip members of the House of Representatives Committee on Digital and Electronic Banking to understand the legal and regulatory frameworks governing digital banking and financial technology (fintech) in Nigeria has been organised by Interswitch Group.
The workshop, which took place on Friday, May 24 and Saturday, May 25, 2024, was part of the company’s sustained efforts to shape the financial services landscape in the country.
Over 40 lawmakers from the lower chamber of the National Assembly led by Mr Emmanuel Ukpong-Udo, the Chairman of the House Committee on Digital and Electronic Banking, participated.
They engaged in insightful sessions covering a diverse range of topics crucial to the digital banking ecosystem, including payments and regulation in fintech operations, fintech innovation and emerging technologies, digital transformation and financial inclusion, risk management and security, among others.
They were tutored by experts and top executives from Interswitch Group who facilitated various informative sessions, carefully curated to furnish them with essential knowledge and valuable insights to navigate the evolving landscape of digital banking and fintech regulation in Nigeria.
“We are delighted to have hosted such an impactful event aimed at empowering these members of the House with the knowledge and skills necessary to navigate the complexities of digital banking and electronic finance.
“At Interswitch, we are committed to driving positive change and innovation in the digital payment industry through collaborative initiatives like this, at every level,” the founder of Interswitch Group, Mr Mitchell Elegbe, stated.
Business Post reports that the participants were exposed to a holistic perspective on the evolving dynamics of the digital payments industry, as the Divisional Head of Core Operations at Interswitch Group, Halima Usman, on the first day, put them through the Regulatory Landscape of Fintech Operations.
The Chief Customer Success Officer at the firm, Oremeyi Akah, engaged the federal legislators on Innovation and Emerging Technologies, while the MD of Interswitch Financial Inclusion Services, Titilola Shogaolu, enlightened them on the Role of Digital Transformation in Financial Inclusion.
The next day, the lawmakers learned the Legal and Regulatory Frameworks in Digital Banking from the Head of Legal Operations at Interswitch, Isimenmen Omiunu, as the Chief Compliance Officer Alexander Ude, explored Fintech Regulations and Regulatory Technology (Regtech) with the participants, who paid rapt attention to the presentation. It was not different when Executive Vice President of Risk and Information Security at Interswitch, Griffith Ehebha, opened the eyes of the House of Reps members on the Risk Management and Security Trends in the ecosystem.
Adedapo Adesanya