In light of the technological development and the shift towards digitalization due to the repercussions of the Corona pandemic, especially the challenges resulting from the successive developments and innovations in digital technology, which has opened new horizons for banks to create development, growth, and change opportunities in order to rapidly conform to the current era requirements, banks have shifted to digital transformation in terms of products, services and processes with the aim of reaching a more comprehensive understanding of the requirements of financial consumers in the digital era, and working on meeting their needs in light of the growing competition from the emerging financial technology firms.
The COVID-19 crisis that emerged at the beginning of 2020 proved the efficiency and effectiveness of relying on digital technology tools in many business activities, and this was evident in banking and in providing financial services to customers at the peak of the pandemic. This has made digital transformation imperative for banks as it demonstrated the positive role of banks in dealing with the repercussions of the crisis. Nevertheless, there are still many issues & challenges that still face the banking industry in providing financial services.
This is the reason behind the importance of the Banking and the Future of Financial Services Forum, organized by the Union of Arab Banks to highlight the impact of digital banks and digital innovations on the future of financial services, with focus on the role of central banks and regulatory and supervisory requirements in light of the global changes. In addition to focusing on the advantages of the 2020 Egyptian central bank and banking system law. The forum will also discuss the impact of the Coronavirus pandemic on digital payments and financial inclusion, the risks of money laundering and terrorism financing, in addition to the banking risk management in the digital are, in order to identify the most important opportunities and challenges facing banking & financial services.
OBJECTIVES
This workshop aims to:
• Global developments in banking and the challenges it faces due to COVID-19
• The role of central banks in the digital era and the regulatory and supervisory requirements in light of global changes
• Managing money laundering and terrorist financing risks associated with the spread of COVID-19
• Reviewing bank strategies in establishing digital banking & the future of financial services
• The role of risk management departments in facing future challenges in the digital era
TOPICS
• The 2020 Egyptian central bank and banking system law: Central Banks in the Digital Era.
• The impact of the COVID-19 on Digital Payments & Financial Inclusion: Opportunities and Challenges
• Digital innovations and the future of financial services
• Digital banks, now and in the future
• Models of financial technology platforms for digital lending and the future of bank credit
• Risks of money laundering and terrorism financing associated with the spread of COVID-19
• The role of digital transformation in banks to face the repercussions of COVID-19
• Banking risk management in the digital era
• Central bank digital currencies – Basic characteristics and principles
• Due diligence procedures related to financial inclusion products and services
• Partnership between Arab banks and stock exchange, and the importance of Unifying e-KYC rules to activate financial markets and financial inclusion
