The session will explore how AI and big data technologies are creating opportunities for financial inclusion while requiring readiness to address the privacy and security risks that accompany them. AI and big data are employed to reduce risk through improved customer identification and predictive analytics, resulting in lower non-performing loan (NPL) rates. Accuracy, bias and challenges of explainability of algorithms pose additional challenges, particularly in automated decision making. The innovative approaches implemented by providers through privacy enhancing technologies and machine learning to address these concerns will be discussed.
Related FIGI SIT Working Group report: Big data, Machine learning, Consumer protection and Privacy
Speakers:
The session will explore how central banks can address cyber risk and improve the cyber resilience of the financial sector, as a critical enabler for financial stability and financial inclusion. Several central banks, from different parts of the world, will share their experience, approach and challenges, as well as some of the responses and tools they have implemented and are using to boost their cyber resiliency. The event is organized in partnership by the WBG and IMF to help advance cyber resilience in the financial sector, drawing on the guidance from standard-setting bodies such as the CPMI, and the experience of central banks that have developed and deployed unique and leading tools and initiatives.
Speakers:
Aditya NarainDeputy Director of Monetary and Capital Markets (MCM) Department- Rogier BesemerHead of Cyber Unit
- Takeshi ShirakamiDeputy Head of Secretariat, CPMI
- Tan Yeow SengExecutive Director
- David PapuashviliDeputy Head, Specialized Risk Department
- Fiona Van EchelpoelDeputy Director General, DG Market Infrastructures & Payments
- Robert DartnallHead of Intelligence
- Constantinos ChristoforidesTest Manager
Moderators:
The session will explore how central banks can address cyber risk and improve the cyber resilience of the financial sector, as a critical enabler for financial stability and financial inclusion. Several central banks, from different parts of the world, will share their experience, approach and challenges, as well as some of the responses and tools they have implemented and are using to boost their cyber resiliency. The event is organized in partnership by the WBG and IMF to help advance cyber resilience in the financial sector, drawing on the guidance from standard-setting bodies such as the CPMI, and the experience of central banks that have developed and deployed unique and leading tools and initiatives.
Speakers:
Moderators:
The session will explore the vulnerabilities that can impact the security of these applications operating on basic and feature phones. Some of the vulnerabilities that will be examined in this session include man in the middle attacks, SS7 vulnerabilities, social engineering, replaying of sessions, including those that can impact the SIM card as well. The session will also examine the measures that have been implemented by DFS regulators and Mobile network operators to mitigate the impact of these threats and also consider the rise of phishing attacks on digital finance during the pandemic.
Related reports from FIGI SIT Working Group:
Speakers:
Performance and user-experience metrics play an important role in the evolution of digital financial services using mobile networks. These metrics cover the service itself as well as the mobile network used, as both elements are required for the consumer being able to complete a DFS transaction. The main objective of this session will be to share the findings of the studies undertaken in the Security, Infrastructure and Trust Working Group to measure the key performance indicators (KPIs) for the quality of service of digital financial services.
This session is intended for regulators of the telecom and financial services sectors, DFS providers and mobile network operators who are involved in monitoring quality of service for digital financial services.
Related FIGI SIT Working Group reports:
- Methodology for measurement of Quality of Service (QoS) Key Performance Indicators (KPIs) for Digital Financial Services
- Methodology for measurement of QoS Key Performance Indicators (KPIs) for inter-operator and cross-border P2P money transfer
- ITU-T Recommendation based on FIGI SIT WG output: P.1502 Methodology for QoE testing for DFS
Speakers:
In this hands-on session, the security of applications based on Android platforms will be discussed as well as the security tests that can be conducted to audit DFS applications in the DFS Security Lab in ITU. The session will also examine the security tools and software frameworks that can be used for performing analysis of application code and interfaces, including a walkthrough of how such an assessment of a smartphone application can occur in practice, as well as a discussion of vulnerabilities and security best practices to be adopted by developers.
Related report from FIGI SIT Working Group: Digital Financial Service Security Assurance Framework
Speakers:
