Can blockchain come back from the doldrums? Yes, writes Chris Skinner, if the right technologies for the systems required can be identified.
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The 2017 SWIFT African Regional Conference (ARC), which is being hosted in Abidjan, Côte d'Ivoire, will bring together more than 500 leading financial services executives from over 45 countries to discuss the trends that are shaping the continent’s future. The three day programme will cover the outlook for the regional economy, including processes of economic diversification and the role of fintech hubs in the real economy, as well as developments in correspondent banking, compliance and cyber security.
Further discussions will consider the role of blockchain in the development of Africa’s securities markets and the key innovations that are shaping the future of corporate treasury and trade. Now in its 24th year, the African Regional Conference is firmly established as the region’s standout annual financial sector event. Key sessions for the 2017 conference will include:
- Future of Africa’s economy – development from within
- FinTech hubs: do they have a role in the real economy?
- Cooperation and consolidation in Africa’s securities markets
- Correspondent banking – new and improved!
- Mitigating the impact of de-risking
- Cyber criminality – how can the industry fight back?
- Free pre-event workshop on the Global Payments Initiative (gpi) and CSP roadshow on 15 May
This year will also see the return of the Innotribe Startup Challenge, providing young African financial technology startups with the chance to showcase their potential and to receive expert mentoring.
James King, Africa and Middle East editor, will cover the key themes and discussions from the African Regional Conference 2017. Register today for free access to three articles every month and ensure you are fully up to date with all the topics discussed at ARC 2017.
African Regional Conference 2017 Videos
Thierry Chilosi, Swift’s head of markets and initiatives for Emea, tells Brian Caplen how African banks can respond to disruptive technologies and keep correspondent lines open in a derisking environment.
Nigeria was once feted as Africa's leading economy. However, attacks on its oil infrastructure and a dollar liquidity crunch have pushed it into recession. But the government is determined to push through strategies that will revive this regional powerhouse, as James King reports.
African M&A was down in 2016 from the previous year as foreign investors stayed away, with only Egypt enjoying notable activity. However, economic headwinds are likely to drive consolidation, especially among smaller regional banks, in 2017. James King reports.
The withdrawal of correspondent banking from high-risk markets, or ‘derisking’, is an increasingly common response from banks wanting to avoid punitive fines. But its human cost means there is an urgent need for alternatives, as James King reports.
The recent $81m cyber heist at Bangladesh's central bank was a wake-up call for financial institutions to improve their basic cyber security hygiene. But it also had profound implications for the soundness of the banking system as a whole. Joy Macknight reports.
Faced with an economic squeeze, Nigeria has devised a masterplan to energise its capital markets. But while major companies are gradually starting to list on the Nigerian Stock Exchange, low liquidity and inflation are acting as a brake on recovery. Chris Stein reports.
Only one-quarter of the top 20 African banks showed an increase in Tier 1 capital in the The Banker's rankings, as the continent suffered a combination of currency volatility, low commodity prices and political instability. James King reports.
Related articles by SWIFT
A wave of money is flowing into financial technology on a global level as a result of increased customer service expectations. Disruptive Fintech companies have identified opportunities and are challenging existing banking models. However, banks are fighting back.
Correspondent banking enables banks to access products and services which might otherwise be unavailable. By enabling cross-border transactions and access to overseas products, correspondent banking plays an important role in the global payments landscape.