The rapid growth of financial technology (FinTech) presents a dual challenge for regulators: how to foster innovation that benefits consumers and the economy while simultaneously safeguarding financial stability and consumer protection. This training course offers a strategic and practical guide to the modern regulatory approaches designed to meet this challenge, with a special focus on the crucial role of regulatory sandboxes. We will explore how these controlled environments can enable new technologies to be tested in a safe, monitored space, providing a crucial pathway for innovation. This program is an essential resource for policymakers and financial professionals seeking to develop forward-thinking regulatory strategies for the digital age.

This intensive five-day program goes beyond traditional compliance to equip participants with the skills to design, implement, and manage a flexible regulatory framework. We will delve into the policy trade-offs involved in regulating digital assets, payment systems, and lending platforms, and examine the critical role of data protection and cybersecurity. Through a combination of global case studies and practical exercises, attendees will gain the expertise to foster a thriving FinTech ecosystem while effectively mitigating risks. By the end of this course, you will be prepared to lead the integration of innovative and responsible FinTech regulation.

Duration: 5 days

Target Audience:

• Financial regulators and supervisors
• Central bank policy and research staff
• FinTech entrepreneurs and innovation leads
• Compliance officers and risk managers
• Government officials in finance ministries
• Legal and governance professionals
• Information technology and cybersecurity experts
• International financial institution staff
• Academics and students of regulatory policy
• Commercial bank innovation teams

Objectives:

• Understand the key drivers and risks of financial technology
• Analyze the different regulatory approaches to FinTech
• Design and implement a regulatory sandbox or innovation hub
• Formulate policies that balance innovation with consumer protection
• Interpret the legal and governance challenges of digital assets
• Evaluate the effectiveness of different FinTech regulatory frameworks
• Assess the role of data privacy and cybersecurity in regulation
• Develop strategies for cross-border cooperation and harmonization
• Apply lessons from global case studies to local contexts

Course Modules: Module 1: The Landscape of FinTech and Its Risks

• The evolution of FinTech and its key sectors (payments, lending, wealth tech)
• The benefits of FinTech for financial inclusion and efficiency
• Identifying the unique risks of FinTech: operational, cybersecurity, and systemic
• The challenges of regulating non-traditional financial service providers
• The role of big data, AI, and machine learning in FinTech

Module 2: Regulatory Responses and Frameworks

• The case for traditional vs. adaptive regulation
• Principles of proportionality and technology-neutral regulation
• The rise of RegTech and SupTech
• The role of central banks in FinTech oversight
• The impact of regulatory uncertainty on FinTech growth

Module 3: Designing and Implementing a Regulatory Sandbox

• The rationale and objectives of a regulatory sandbox
• Key design features: eligibility criteria, safeguards, and exit strategies
• The application process and supervisory support
• The role of a sandbox in fostering innovation
• Practical challenges in sandbox implementation

Module 4: FinTech-Specific Risk Management

• Managing cybersecurity and data privacy risks
• The regulation of crypto-assets and stablecoins
• Anti-money laundering (AML) and counter-terrorist financing (CTF)
• Consumer protection in digital lending and payments
• The role of a sandbox in stress testing new business models

Module 5: Consumer Protection and Market Conduct

• Ensuring fair and transparent digital financial products
• The regulation of digital advice and robo-advisors
• Addressing risks from high-frequency trading and algorithmic markets
• The role of central banks in digital financial literacy
• Protecting consumers in a cross-border FinTech environment

Module 6: Data, Privacy, and Cybersecurity

• The legal and ethical challenges of using consumer data
• The role of data protection regulations (e.g., GDPR)
• Designing a cybersecurity framework for financial services
• The regulation of open banking and data sharing protocols
• Strategies for incident response and resilience

Module 7: International Cooperation and Standards

• The need for cross-border regulatory collaboration
• The role of international bodies (FSB, BIS, IOSCO)
• Harmonizing regulatory approaches across jurisdictions
• The impact of global standards on local FinTech markets
• Case studies in multi-jurisdictional sandboxes

Module 8: Case Studies and Lessons Learned

• A deep dive into successful regulatory sandboxes worldwide
• Analyzing the outcomes of different regulatory approaches
• Learning from FinTech failures and regulatory gaps
• The impact of FinTech on the traditional banking sector
• Policy lessons from specific FinTech innovations

Module 9: The Future of FinTech Regulation

• The path toward a dynamic, principles-based regulatory model
• The role of artificial intelligence in supervision
• The regulation of central bank digital currencies (CBDCs)
• The challenges of regulating decentralized finance (DeFi)
• Adapting to a rapidly changing technological and economic landscape

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 7 working days before commencement of the training.