Background

The financial services sector is undergoing a significant transformation, driven by rapid technological advancements and digital innovation. The integration of Artificial Intelligence (AI), Machine Learning, FinTech developments, and enhanced cybersecurity measures has fundamentally altered the global financial landscape. This evolution is particularly evident in the rise of Digital Financial Services (DFS), which have played a crucial role in promoting financial inclusion for marginalized communities, especially in the West African region. As these innovations continue to unfold, they catalyze economic growth and foster inclusive development, reshaping the way financial services are delivered.

Undoubtedly, the paradigm shift brought about by digital transformation has redefined the outlooks of the financial environment, ushering in an era filled with fresh opportunities and challenges. Emerging technologies such as AI-driven automation, machine learning for risk assessment, blockchain, and cloud computing are revolutionizing the provision of financial services, creating new efficiencies, and opening up pathways to unexplored markets. However, as these technologies advance, they also introduce new vulnerabilities, underscoring the urgent need for robust cybersecurity frameworks and AI-driven risk management strategies to ensure data integrity and secure transactions. The financial sector must adapt to these changes while addressing the associated risks to maintain trust and stability. In this rapidly evolving landscape, it is imperative for financial institutions to enhance their leadership capabilities with strategic foresight and AI-driven decision-making. Board members, senior executives, and general managers play a critical role in guiding digital strategies, managing AI-related risks, and fostering continuous financial innovation. Thus, it is incumbent upon both the Board and Management of Financial Institutions to continually embrace, advocate for, and efficiently navigate the realms of AI, Machine Learning, FinTech innovation, cybersecurity, and digital transformation to remain competitive in a technology-dominated financial ecosystem.

Therefore, it is against this backdrop that FITC in collaboration with the West African Bankers Association (WABA) is excited to present the 2025 flagship partnership programme, titled, “Shaping the Future of Financial Services: Accelerating the Adoption of AI, Machine Learning, FinTech Innovation, Cybersecurity, and Digital Transformation”. The programme is specially tailored to the Board members and Senior Management Leaders of Banks and Other Financial Institutions, across the West African region. The edition delves into the Diverse dynamics of financial services, exploring how AI and FinTech innovations are accelerating financial inclusion, elucidating the pivotal role of cybersecurity in mitigating emerging threats, and charting out strategic frameworks for seamless digital transformation.

Target participants:

• Directors and Board Members of financial institutions responsible for governance, oversight leadership, and strategic decision-making, including both executive and non-executive directors.

• Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Information Security Officers (CISOs), Chief Risk Officers (CROs), General Managers, and Deputy General Managers involved in technology adoption, cybersecurity strategy, risk governance, and financial innovation.

• Senior Executives, Business/Sales Leaders, and Functional Heads driving AI adoption, digital transformation, and regulatory compliance in financial institutions.
• Representatives from regulatory bodies and supervisory authorities within the West African region, including Central Banks, Deposit Insurance Organisations, Securities Exchange Commissions, and Insurance Regulators.

• Government Officials and Policymakers involved in shaping regulatory frameworks for AI, FinTech, cybersecurity, and financial system stability.

• Industry Experts, Consultants, and Key Stakeholders influencing the adoption of AI, Machine Learning, FinTech innovation, and cybersecurity in the financial sector.

Learning Outcomes

• Gain a heightened awareness of AI, Machine Learning, FinTech innovation, and cybersecurity, and their continuous impact on financial services, along with the associated risks and opportunities.
• Develop the ability to assess and mitigate AI-driven cybersecurity threats, data breaches, and digital vulnerabilities, evaluating their potential impact on the stability of financial systems.
• Equip Board Members, Senior Executives, and Financial Leaders with practical knowledge and skills to effectively oversee AI adoption, cybersecurity governance, and FinTech-driven digital transformation, ensuring compliance with relevant regulations.

Learning objectives

• Gain a comprehensive understanding of AI, Machine Learning, FinTech innovation, blockchain, cloud computing, and cybersecurity, and their extraordinary impact on the financial services industry.
• Evaluate the risks and vulnerabilities associated with AI adoption, digital transformation, and emerging technologies, including cybersecurity threats, data breaches, and regulatory challenges.
• Gain a deeper understanding of cybersecurity best practices and the importance of robust AI-driven security frameworks to safeguard sensitive financial data and protect against cyberattacks.
• Examine the role of Boards, Senior Executives, and key stakeholders in overseeing AI, FinTech, and cybersecurity risks, establishing effective governance frameworks, and integrating risk management into strategic decision-making.
• Explore strategic approaches to accelerating AI, FinTech, and digital transformation initiatives, enabling banks and other financial institutions to enhance operational efficiency, improve customer experiences, and drive sustained financial innovation.

Content Outline

• Emerging Technologies and Digital Innovations Driving the Global Financial System: Business Implications for West African Financial Services, with a Focus on AI, Machine Learning, FinTech Innovation, Cybersecurity, and Digital Transformation.

• Evolving Responsibilities of the Board and its Committees in the Effective Oversight of AI, Machine Learning, FinTech Innovation, cybersecurity, and Digital Risk management, including the Implementation of a Comprehensive Cyber/Digital Risk Strategy.

• Emerging Responsibilities of the Board and Senior Executives in mitigating AI-Related Risks, Fostering Digital Innovation and Ensuring Compliance for Optimal Business Value.

• Imperatives for Designing an AI-Integrated Cybersecurity and Digital Risk Management Framework for Financial Services, Ensuring Resilience, Regulatory Compliance, and Proactive Threat Mitigation.

• Repositioning West African Financial Institutions through AI-Enabled Digital Transformation: Perspectives and Imperatives for Boards and Management in Driving Innovative Technology, Operational Efficiency, and Sustainable Growth.

• Future Trends and Opportunities in Financial Services Technology:
  • The impact of AI, Machine Learning, FinTech, and DeFi on Financial Ecosystem.
  • Quantum Computing Applications and their Implications for Financial Modelling, Fraud Detection, and Cybersecurity.
  • Strategies for Staying Ahead of Technological Disruptions Through Continuous Learning, Strategic Collaboration, and AI-Driven Experimentation.

• Regulatory Perspectives on Effective Board Oversight and Strategic Management of AI, Machine Learning, FinTech, Cybersecurity, and Digital Transformation, Aligning with both Global and West African Regulatory Frameworks.

• Capstone Project:
  • Collaborative strategy development, applying AI, cybersecurity, FinTech innovations, and digital transformation concepts to enhance resilience, innovation, and regulatory compliance in a financial services organization.