Course duration
3 June 2021 to 23 July 2021
Summary
Rapid advancements in financial technology, or fintech, are opening the door to greater financial inclusion and sustainable development in Asia and the Pacific. However, the growing knowledge gap between innovators and regulators regarding fintech and business models that apply it threatens to undermine the benefits while giving rise to new challenges.
If inadequately addressed, associated risks such as fraud, data privacy breaches, and other cyber vulnerabilities could increasingly harm consumers and financial stability. Regulatory deficiencies could also hinder competitiveness and growth within the fintech sector. Yet, for many policy makers, particularly in the region’s developing economies, keeping pace with fintech innovation is extremely difficult given their frequent lack of specialized knowledge and skills.
Against this backdrop, ADBI, the Cambridge Centre for Alternative Finance, and Cambridge Judge Business School Executive Education Limited convened an 8-week Online Course on Fintech & Regulatory Innovation. The course examined the latest advancements in fintech, its financial inclusion implications, and strategies and tools for mitigating associated risks.
Admission to the course was selective and open only to qualified government officials from Asian Development Bank (ADB) developing member countries. Selected applicants were awarded ADBI scholarships.
Objectives
- Strengthen fintech innovation and regulatory knowledge among government officials from developing economies from across Asia and the Pacific
- Build the capacity of government officials to address evolving regulatory needs within the fintech sector
Participants
ADBI welcomes applications solely from government officials who are citizens of ADB developing member countries and eager to develop their fintech systems. Women are encouraged to apply.
Each participant will be awarded an $1,800 scholarship.
Output
- Improved government official knowledge of fintech and regulatory innovation
- Greater recognition of fintech regulation capacity and development needs
- Enhanced networking, collaboration, and cooperation among government officials focused on fintech policy development
Partners
- Cambridge University’s Cambridge Centre for Alternative Finance
- Cambridge Judge Business School Executive Education Limited