EMTECH, a fintech company, and Global InfoSwift Consulting Ltd have partnered to deliver capacity building in central bank digital currency, regulatory sandbox framework, and API and open banking.
The companies said in a statement that the partnership would enable regulators, banks, and fintechs to accelerate changes in the financial services regulatory environment. According to them, as African central banks move to innovate digitisation efforts, there is a need for collaboration and regulatory framework to enable the success of the efforts.
The Founder and Chief Executive Officer, EMTECH, Carmelle Cadet, said “EMTECH is pioneering a new approach as a fintech for central banks, and as such, also other financial services regulators and financial services providers.
“We are positioned to serve as a bridge between the regulator and regulated within the financial services industry by providing modern technology platforms and tools to enable an inclusive and resilient financial market.
“That’s always been our mission and we’re doing so with our Modern Central Bank Sandbox Platform and a Modern CBDC Platform built with an open banking architecture. With that, we recognise the need to complement this by providing enhanced education and understanding of the impact of technological innovation on regulatory and policy approaches to the ecosystem players.”
Cadet said the capacity building programme would facilitate the convergence of knowledge on innovative solutions.
He said it would enable supervisory agencies’ regulatory frameworks to foster innovation, financial inclusion, financial system resilience as well as compliance of financial service providers’ emerging product and business models with relevant regulatory and consumer protection requirements.
The Founder and Chief Executive Officer, Global InfoSwift Consulting, Afolabi Oke, said, “Our objective is to provide this capacity building programme to the entire financial services ecosystem in Nigeria. This means attracting all financial services regulatory agencies and all financial services providers, from commercial banks to fintechs.
“We are excited to team up with EMTECH, who have hands-on experience with their API-led Modern Regulatory Sandbox
According to the statement, the programme is set to launch in the next 90 days with engagements of key stakeholders across the ecosystem.
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