Committee on Digital and Electronic Banking
As part of its sustained efforts to shape the financial services landscape in Nigeria, Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, recently organized a two-day capacity building training session for Honourable members of the Federal House of Representatives’ Committee on Digital and Electronic Banking.
The training programme took place from Friday, May 24th to Saturday, May 25th, 2024, and focused on deepening the Honourable members’ understanding of the legal and regulatory frameworks governing digital banking and fintech in Nigeria.
The training session, which was the first of its kind from Interswitch’s stables, featured a robust lineup of experts and top executives from Interswitch Group who facilitated various informative sessions during the two-day programme. The sessions were carefully curated to furnish participants with essential knowledge and valuable insights to navigate the evolving landscape of digital banking and fintech regulation in Nigeria.
The programme saw the participation of 40 Honourable members of the House, led by Rt. Hon. Emmanuel Ukpong-Udo (PhD), Chairman of the House Committee on Digital Economy.
Attendees 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.
Attendees were also given a holistic perspective on the evolving dynamics of the digital payments industry. On the first day, Halima Usman, Divisional Head of Core Operations at Interswitch Group, discussed the ‘Regulatory Landscape of Fintech Operations’. This was followed by Oremeyi Akah, Chief Customer Success Officer, who presented on ‘Innovation and Emerging Technologies’. The day concluded with Titilola Shogaolu, MD of Interswitch Financial Inclusion Services, emphasizing the ‘Role of Digital Transformation in Financial Inclusion’.
The focus shifted on the second day to the ‘Legal and Regulatory Frameworks in Digital Banking’, facilitated by Isimenmen Omiunu, Head of Legal Operations, who provided an overview of the legal landscape. Alexander Ude, Chief Compliance Officer, then explored ‘Fintech Regulations and Regulatory Technology (Regtech)’. The training ended with Griffith Ehebha, EVP of Risk and Information Security, discussing ‘Risk Management and Security Trends’.
Speaking about the training session, Mitchell Elegbe, Founder and Group Managing Director, Interswitch Group, said, “We are delighted to have hosted such an impactful event aimed at empowering these Honourable 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 training underscored Interswitch’s commitment to promoting knowledge sharing and capacity building initiatives that contribute to the advancement of the digital economy in Nigeria. By partnering with key stakeholders such as the Federal House of Representatives Committee on Digital and Electronic Banking, Interswitch continues to play a pivotal role in shaping the future of financial services in Africa.
