Introduction

The rapid evolution of FinTech is transforming financial services, offering unparalleled innovation in areas like digital payments, blockchain, AI-driven lending, and wealth management. However, this transformative power comes with a complex web of regulatory challenges, requiring financial institutions and technology firms alike to navigate a dynamic landscape of compliance obligations. This essential training course focuses on FinTech Regulation and Compliance Audit, equipping professionals with the critical knowledge and practical methodologies to understand, implement, and rigorously audit adherence to the diverse regulatory frameworks governing this fast-paced industry. You will gain expertise in addressing crucial areas such as Anti-Money Laundering (AML), Know Your Customer (KYC), data privacy, cybersecurity, and consumer protection, ensuring your organization's innovative solutions remain robustly compliant.

This intensive training course delves into the global FinTech regulatory landscape, covering key directives and principles from various jurisdictions, including those impacting digital banking, cryptocurrency activities, and open finance. We will explore the nuances of regulatory technology (RegTech), its role in automating compliance, and the unique audit considerations for new technologies like AI and blockchain. Participants will gain hands-on experience in conducting risk assessments specific to FinTech products and services, designing effective internal controls, and preparing comprehensive compliance audit reports. By the end of this training course, you will possess the expertise to strategically guide your organization through the complexities of FinTech compliance, mitigating risks, fostering trust, and unlocking sustainable growth in the digital financial ecosystem.

Target Audience

• Compliance Officers
• Internal & External Auditors
• Legal Counsel in Financial Services
• Risk Management Professionals
• FinTech Product Developers
• Regulatory Affairs Professionals
• Chief Technology Officers (CTOs)
• Financial Crime & AML Analysts

Course Objectives

• Understand the fundamental concepts of FinTech and its impact on the financial industry.
• Learn about the overarching global regulatory frameworks for FinTech.
• Master methodologies for auditing Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance in FinTech.
• Develop skills in assessing data privacy and cybersecurity controls within FinTech operations.
• Understand the regulatory requirements for digital banking and payment systems.
• Learn about the legal and compliance challenges associated with cryptocurrencies and blockchain.
• Explore best practices for implementing consumer protection measures in FinTech services.
• Master techniques for utilizing Regulatory Technology (RegTech) solutions for compliance.
• Understand the common FinTech risks (operational, strategic, reputational) and mitigation strategies.
• Learn about preparing comprehensive FinTech compliance audit reports.
• Apply practical FinTech regulation and compliance audit strategies to real-world scenarios.

Duration

5 Days

Course Content

Module 1: Introduction to FinTech & Regulatory Landscape

• Defining FinTech and its diverse categories (e.g., payments, lending, InsurTech, RegTech).
• Exploring the drivers of FinTech innovation and market disruption.
• Understanding the purpose and evolution of FinTech regulation.
• Overview of global approaches to FinTech governance (e.g., regulatory sandboxes, innovation hubs).
• The importance of regulatory adherence for sustainable FinTech growth.

Module 2: Anti-Money Laundering (AML) & KYC in FinTech

• Mastering the principles of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF).
• Understanding Know Your Customer (KYC) requirements for digital onboarding and customer due diligence.
• Techniques for auditing AML/KYC processes in FinTech platforms.
• Exploring the challenges of AML/KYC in cross-border FinTech operations.
• The role of technology in enhancing AML/KYC compliance.

Module 3: Data Privacy & Cybersecurity for FinTech

• Learning about critical data privacy regulations impacting FinTech (e.g., GDPR, CCPA).
• Understanding the unique cybersecurity risks faced by FinTech companies.
• Techniques for auditing data protection measures and secure data handling.
• Assessing incident response and breach notification protocols.
• Ensuring ethical data use and privacy by design in FinTech products.

Module 4: Digital Banking & Payment Systems Regulation

• Exploring the regulatory framework for digital banks and neobanks.
• Understanding the licensing and authorization requirements for payment service providers.
• Mastering the compliance obligations under Payment Services Directives (e.g., PSD2, Open Banking).
• Techniques for auditing payment system security and operational resilience.
• The role of interoperability and standardization in digital payments.

Module 5: Cryptocurrency & Blockchain Regulation

• Understanding the evolving regulatory landscape for cryptocurrencies and digital assets.
• Learning about the legal classification of various crypto assets.
• Exploring AML/CTF requirements for virtual asset service providers (VASPs).
• Assessing the compliance challenges of DeFi (Decentralized Finance) and NFTs.
• The implications of central bank digital currencies (CBDCs) for regulation.

Module 6: Consumer Protection & Market Conduct

• Mastering the principles of consumer protection in FinTech services.
• Understanding requirements for fair lending practices and transparent disclosures.
• Techniques for auditing customer dispute resolution mechanisms.
• Addressing issues of financial inclusion and algorithmic bias.
• Ensuring ethical marketing and responsible product design.

Module 7: FinTech Risk Management, RegTech & Audit Reporting

• Identifying and assessing key FinTech risks: operational, reputational, systemic.
• Exploring the application of Regulatory Technology (RegTech) to automate compliance processes.
• Strategies for establishing a robust FinTech compliance audit program.
• Preparing comprehensive FinTech compliance audit reports and communicating findings.
• The future of FinTech regulation and the auditor's evolving role.

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.