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Arab Banking Conference for 2018 “ Fintech Innovations and the Future of Financial Services”

Arab Banking Conference for 2018 “ Fintech Innovations and the Future of Financial Services”
29-30 April, 2018 Cairo – Egypt   - The Grand Nile Tower Hotel

Background:
In the past few years, financial technology (or Fintech) has created a revolution in the delivery of traditional financial services, reshaping the financial landscape, as innovative technologies are increasingly meeting customer demands for speed and affordability.

Fintech products and services are often developed by startups – nascent companies that operate in the financial technology sector – which have succeeded in offering a wide range of digital financial services including payment solutions, digital currencies, money transfer, crowdfunding and other lending solutions, as well as wealth management and insurance (insurtech). Amid rapidly evolving technological innovations and shifting consumer preferences, Fintech startups have succeeded in creating demand for these innovative digital products and services both globally and regionally; a phenomenon which has cast a shadow over the future of traditional financial services.

Competition between traditional financial institutions and Fintech firms may arise in the provision of financial services, with ensuing challenges that both banking sectors and regulatory bodies must address. Therefore, many banks and non-bank financial institutions are seeking to introduce some changes in their business models by expanding their investment in technological infrastructure and engaging in partnerships with Fintech startups to foster the digitization of financial services and improve their competitiveness.

Consequently, regulators are facing a trade-off between the contending goals of mitigating financial stability risks and facilitating financial innovation, as over-regulation might disincentivise the development of Fintech solutions. Hence, the need arises for a comprehensive legislative, regulatory and supervisory framework which fosters innovation and provides opportunities for the growth of Fintech business models in a competitive environment, while ensuring that new technologies do not become tools for fraud, money laundering and terrorist financing, and that they do not jeopardize long-sought financial, economic, and social stability.

In this context, the 2018 Arab Banking Conference will be convened to shed light on recent innovations in the fintech sector and their crucial role in promoting financial inclusion, through exploring fintech business models, products, and services as well as examining fintech startups and their interconnected relationships with other financial institutions.

Moreover, the conference will highlight the role of governments, central banks, and supervisory authorities in safeguarding economic and financial stability by regulating fintech business activities and managing any subsequent systemic or idiosyncratic risk that may arise.

Objectives:
The conference will discuss the future of traditional financial services in light of thriving fintech innovations, as well as the ensuing challenges that the financial community may face. Furthermore, conference topics will include enhanced management and supervision of e-banking activities and operations as well as the role of governments, central banks, and financial institutions in achieving financial and economic stability.

The conference will also shed light on the latest developments in financial technology sectoral innovations, products and services, and will relay the experiences of fintech startups, in addition to the role of financial institutions, regulators and supervisors in safeguarding economic and social stability by managing and mitigating risks arising from the upsurge of financial technology.

The panels will be presented and moderated by distinguished Arab financial and banking experts in addition to owners and CEOs of fintech startups.

Discussion Topics:
1. Developments and innovations in financial technology and the expected impact on financial stability.
2. Fintech startups, incubators, and accelerators: success stories.
3. The opportunities and threats of Fintech business models: payments (online payments, mobile wallets, digital currencies…) lending (crowdfunding, P2P lending…), insurance, wealth and investment management.
4. The role of governments in supporting financial technology and digital transformation.
5. Financial technology as a new mechanism to promote financial inclusion, support small and medium enterprises, and combat money laundering and terrorism financing.
6. The role of central banks: regulatory and supervisory challenges in managing fintech risks (Suptech and Regtech).
7. Cyber security, information security and financial crimes.
8. Financial technology and the future of financial institutions (banks and non-banks).

Target Institutions:
• Arab and Foreign Central Banks
• Supervisory and Regulatory Authorities
• Regional and International Financial Institutions
• Arab and Foreign Banks
• Combating Money Laundering and Terrorism Financing (AML/CFT) Units
• Compliance and Risk Units in Banks & Financial Institutions
• Insurance Companies, Investment Firms, and Fintech Startups & Firms (Success Stories)
• Business Incubators (ex.: The American University) and Accelerators
• IT and Information Security Companies
• Payment and Credit Card Companies (Visa or MasterCard)
• Security Agencies Specializing in Financial and Electronic Crimes

Quick Links
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UAB Magazine - Issue 468 November 2019
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