Introduction

Globally, the mortgage banking industry is navigating a transformative era driven by technological innovation. Emerging technologies such as artificial intelligence (AI), blockchain and machine learning are redefining traditional banking processes. AI and machine learning enable mortgage banks to automate underwriting and risk assessment, resulting in faster and more accurate loan processing. Blockchain technology offers enhanced security and transparency in transactions, reducing fraud and increasing trust among stakeholders. These technological advancements necessitate that board members and senior management stay abreast of the latest developments to strategically integrate them into their operations. The ability to harness these innovations is critical for sustaining competitiveness and achieving operational excellence in the modern financial landscape.

Cybersecurity has emerged as a paramount concern for the mortgage banking industry, given the increasing frequency and sophistication of cyberattacks. Financial institutions are prime targets for cybercriminals due to the sensitive financial and personal data they handle. A successful cyberattack can lead to significant financial losses, legal repercussions, and a severe erosion of customer trust. Therefore, it is imperative for board members and senior management to prioritize cybersecurity. This involves not only implementing robust security measures but also ensuring compliance with regulatory standards, fostering a culture of cybersecurity awareness among employees, and developing comprehensive incident response plans to mitigate the impact of potential breaches.

Digital transformation is reshaping the mortgage banking industry by integrating digital technologies into all facets of business operations. This transformation enhances customer engagement, streamlines processes, and drives innovation. For example, digital platforms enable mortgage banks to offer personalized services, improve customer convenience, and gain deeper insights into customer needs through data analytics. However, the journey toward digital transformation requires effective leadership and a strategic approach. Board members and senior management play a pivotal role in guiding their institutions through this change, aligning digital initiatives with organizational goals, and managing the cultural shifts that accompany technological adoption. Through this, mortgage banks can achieve greater agility, efficiency, and customer satisfaction, positioning themselves for success in an increasingly digital world.

Therefore, it is against this background that the Mortgage Banks Association of Nigeria (MBAN) and FITC under the auspices of the Central Bank of Nigeria (CBN) are jointly organizing the programme, to enhance the board and Senior Management understanding of this contemporary, dynamic and evolving technological landscape, which will enable them to operate efficiently, safeguard their stability and security of the Mortgage Banking system. Also, understanding of the changing technological landscape will help the leaders to build a more resilient and future-ready Mortgage Bank that can effectively navigate the opportunities and challenges brought by emerging technologies, cybersecurity threats, and digital transformation.

Target participants:

• Directors and Board members of all Mortgage Banks who are responsible for governance, oversight, and strategic decision-making.
• Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Information Security Officers (CISOs), Chief Risk Officers (CROs), and other senior executives responsible for technology, cybersecurity, and risk management within Mortgage Banks.
• Representatives from regulatory bodies and supervisory authorities like CBN, NDIC, etc
• Government officials and policymakers involved in formulating regulations and policies related to technology, cybersecurity, and financial system stability.
• Industry Experts and Consultants

Learning Outcomes

• Gain a heightened awareness and knowledge of emerging technologies such as artificial intelligence, blockchain, and cloud computing, and their continuous impact on Mortgage Banks, and the associated risks and challenges.
• Develop the ability to assess and analyze cybersecurity threats, data breaches, and vulnerabilities that may arise from the adoption of new technologies and evaluate impact of these risks on the Mortgage Banks.
• Equip Directors and Senior Management leaders with more practical knowledge and skills to fulfill their responsibilities effectively by incorporating technology into strategic decision-making processes and ensuring compliance with relevant regulations.

Learning objectives

Explore options to effectively integrate emerging technologies into the overall business strategies, to enable the Mortgage Banks leverage technology to improve operational efficiency, enhance customer experiences, and drive innovation.

Gain comprehensive understanding of emerging technologies such as artificial intelligence, blockchain, cloud computing, and their extraordinary impact on the Mortgage Banks.

Evaluate risks posed by the emerging technologies, as well as identify potential cybersecurity threats, data breaches, and vulnerabilities that may arise from the adoption of new technologies.

Gain deeper understanding of cybersecurity best practices and the importance of robust cybersecurity strategies, measures and structure, to safeguard sensitive data, and protect against cyberattacks.

Examine the role of boards in overseeing technology and cybersecurity risks, establishing effective governance frameworks, and integrating risk management practices into decision-making processes.

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