The banking and financial landscape in the past 5 years have been inundated with ‘techs’. FinTech, InsurTech and RegTech are just some of the new buzzwords. However, in an environment of thinning margins, low global growth and increasing cost of compliance and doing business, no Islamic financial institution can afford to ignore the march of technology particularly. Cheaper, simpler and more efficient financial solutions which do not necessarily require banks or any forms of intermediation are becoming commonplace.
REDmoney are pleased to bring you a one-day intensive workshop that will examine the most critical issues facing Islamic financial institutions with regards to financial technology. This is not necessarily a technology event. More, it is an event looking to highlight, examine and address key strategic and operational issues about future market positioning, product structure and placement, delivery channels, and customer requirements in a dramatically changing world. Included in this will be an examination of the present and likely future regulatory environment surrounding technology and financial institutions.
KEY LEARNING OUTCOMES
This one-day seminar is designed to help participants:
Gain an understanding of ‘technology disruption’ and its impact on Islamic banking and finance
Determine future client needs and requirements, as well as product delivery channels
Appreciate the impact of technology disruption and FinTech on your Islamic Financial Institution’s future growth and profitability
Assess bank strategy and positioning in the light of the growth of financial technology
Understand Shariah and other risk areas associated with technology disruption
Gain insights on some of the Islamic FinTechs available and how banks work with FinTechs, locally, regionally and internationally
Devise the best mode to deal with technology disruption and FinTech, including possible modes of FinTech collaborations
WHO WILL BENEFIT?
C-suite executives and middle management of Islamic financial institutions involved in:
Corporate strategy
New business and/or product development
Technology banking
Branch/channel management
Compliance
Risk managers
Legal counsel
Islamic financial institutions regulators particularly those in supervision department
Capital markets regulators regulating P2P exchanges and crowdfunding platforms
Exchanges and platform providers
As a participant in the CFA Institute Approved-Provider Program, SHAPE Knowledge Services has determined that this program qualifies for 6 credit hours, including 0.5 hour in the content areas of Standards, Ethics, and Regulations (SER).
If you are a CFA Institute member, credit for your participation in this program will be automatically recorded in your CE tracking tool.
Agenda
Session 1: Discussing the Evolution of FinTech & Islamic FinTech
Identifying the origin, growth and development
Highlighting Shariah compliance among Islamic FinTech: the nuts and bolts
Identifying and addressing other risk areas
Session 2: Outlining Related Developments of FinTech, InsurTech and RegTech
The nexus
Discussing relevant and important developments
Are these just tech hype?
Session 3: Watching Islamic FinTech in Action
Examining some popular types of Islamic FinTech and rationale
Learning from others: leading jurisdictions and their initiatives
Analyzing Islamic FinTech disruption: a SWOT analysis
Session 4: Assessing Public Sector and Regulatory Perspectives
Evaluating regulatory sandboxes: a comparison among jurisdictions
Highlighting and discussing Government initiatives for the development and integration of FinTech
No government, no regulator, no go?
Session 5: Looking Ahead: Technology Disruption and FinTech - Banking in 2030
Understanding and predicting customers’ expectations
Identifying important external factors that are expected to influence the financial landscape
Assessing providers, products and services offerings, and delivery channels
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