The rapid evolution of digital wallet ecosystems is transforming the financial landscape by providing a seamless, convenient, and often instant payment experience. This technology, however, introduces a new and a complex set of credit risks that a traditional banking model is not prepared to address. The velocity of a transaction, the anonymity of a user, and a lack of a conventional credit history in a new user create a unique set of challenges for a risk manager. The new risks, which can include a fraud, a chargeback, and a money laundering, require a specialized understanding of a user's behavior, a transaction pattern, and a digital footprint.

This training program is meticulously designed to provide a comprehensive understanding of a credit risk in a digital wallet ecosystem. You will learn to move beyond a conventional risk assessment and develop a robust framework that integrates a digital transaction data into your analysis. The curriculum covers everything from an innovative data collection strategy to the role of a machine learning and its associated risks. By the end of this course, you will be equipped to identify, measure, and mitigate a risk in a digital wallet ecosystem, helping your organization to make a sound financial decision while contributing to a secure and a seamless digital transaction experience.

Duration: 10 days

Target Audience:

• Banking and financial professionals
• Risk and credit analysts
• Data scientists and modelers
• Product managers in a digital wallet
• Professionals from public and private sectors engaged in a credit risk management
• Consultants specializing in a digital finance
• Anyone interested in the intersection of a finance and a technology

Objectives:

• Understand the core concepts of a digital wallet and its unique risk profile
• Learn to identify and quantify a financial and a non-financial risks
• Master the principles of an integrated risk management framework for a digital wallet
• Gain proficiency in applying specialized risk assessment techniques
• Understand and mitigate the risks of a data privacy and its implications
• Learn to navigate the regulatory and reporting requirements for a digital wallet
• Develop skills in communicating and reporting on a digital risk
• Prepare for a future change in a data and its impact on a risk
• Implement a continuous monitoring system for a digital wallet
• Learn to use a data and an analytics for a more accurate risk assessment

Course Modules:

Module 1: Foundations of a Digital Wallet Ecosystem

• The history and evolution of a digital wallet
• The different types of a digital wallet
• The unique risk profile of a digital wallet
• The key stakeholders in a digital wallet
• The importance of a clear and a consistent definition of "digital"

Module 2: Transaction-Specific Risk in a Digital Wallet

• The importance of a fraud risk
• The role of a chargeback risk
• The challenges of a money laundering risk
• The importance of a transaction velocity
• The impact of an operational risk

Module 3: The Use of a Data and an Analytics

• The importance of a data-driven approach
• The use of a behavioral segmentation
• The role of a customer journey
• The importance of a continuous monitoring
• The challenges of a data availability and a reliability

Module 4: The Role of a Machine Learning

• The importance of a machine learning
• The role of a supervised and an unsupervised learning
• The challenges of an explainable AI
• The importance of a model interpretability
• The impact of a machine learning on a model performance

Module 5: The Use of a Behavioral Score

• The importance of a credit limit management
• The role of a pricing and a product offering
• The challenges of a collection strategy
• The importance of a customer retention
• The impact of a behavioral score on a customer experience

Module 6: Implementation and Integration

• The importance of a system integration
• The role of an API
• The challenges of a legacy system
• The importance of a real-time scoring
• The impact of a technology on a business process

Module 7: The Role of a Cross-Functional Team

• The importance of a collaboration between a data science and a business
• The role of a communication and a feedback
• The challenges of a different goal
• The importance of a clear and a consistent process
• The impact of a team on a project success

Module 8: The Use of a New Data Source

• The importance of a social media data
• The role of a geospatial data
• The challenges of a satellite imagery
• The importance of a new data source
• The impact of a data source on a risk

Module 9: Documentation and Regulatory Requirements

• The importance of a model documentation
• The role of a regulatory compliance
• The challenges of a fair lending
• The importance of a clear and a transparent reporting
• The risks of a non-compliance and a penalties

Module 10: The Use of a Guarantees and Collateral

• The importance of a clear legal agreement
• The challenges of a cross-border guarantee
• The role of a collateral and its valuation
• The importance of a clear and a transparent documentation
• The risks of an unenforceable guarantee

Module 11: The Use of a Fraud Detection

• The importance of a rule-based system
• The use of a machine learning in a fraud detection
• The role of a network analysis
• The importance of a real-time monitoring
• The challenges of a false positive

Module 12: Stress Testing and Scenario Analysis

• The importance of a stress test
• The use of a hypothetical and a historical scenarios
• The role of a reverse stress test
• The importance of a clear and an actionable result
• The challenges of communicating stress test results to stakeholders

Module 13: The Role of an Innovative Financial Instrument

• The importance of a microcredit
• The role of a digital loan
• The challenges of a buy now, pay later
• The importance of a mobile banking
• The impact of a new product on a risk

Module 14: Case Studies and Best Practices

• A deep dive into successful digital wallet projects
• The challenges of a real-world implementation
• The importance of a strong cross-functional team
• The role of a leadership in adopting a data-driven culture
• Lessons learned from the field

Module 15: Final Project and Discussion

• A hands-on project to build a digital wallet risk framework
• The role of a new technology (e.g., blockchain)
• The future of a digital wallet
• The importance of a continuous learning mindset
• A final discussion on a remaining challenge and an opportunity

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.