E-learning course on Fintech and Digital Financial Services

BACKGROUND

Technology is rapidly transforming financial systems around the world, creating new opportunities and new
risks for the financial sector. In the MEFMI region, for many years innovations in the financial sector were
centred on mobile money following the success of M-Pesa in Kenya. However, new technologies such as
application programming interfaces (APIs) have led to the emergence of a wide array of digital financial
services and fintech products. The COVID-19 pandemic accelerated the adoption of digital products.
The nature of Fintech and DFS presents new challenges for the current regulatory paradigm. In their bid to
create an enabling regulatory environment for Fintech, financial sector regulators should aim to balance thetraditional regulatory objectives of financial stability and consumer protection – which have been the focus
of post-crisis regulatory reforms – with the new objective of promoting inclusive growth and innovation.

OBJECTIVES
The course is aimed at introducing participants to the foundational aspects of regulation of Fintechs and
DFS.
CONTENT
Specifically, the course will seek to enhance participants’ understanding of:
1. FINTECH and Digital Financial Services;
2. Virtual Assets and other FINTECH products/services;
3. Risks and Consumer Protection; and
4. The different approaches to Fintech Regulation.
TARGET GROUP
This course targets junior officials from the different financial sector regulatory and supervisory agencies
whose roles interface with Fintech and DFS