The 4th Annual Bankers conference set for 26th July 2021 will discuss how the financial sector can thrive in the 4th Industrial revolution.

Organized by Uganda Bankers Association (UBA), the 4th Annual Bankers conference that has been scheduled to take from 26^th through 27th July 2021 under the theme "Bend but Don’t Break: How the financial sector can thrive in the era of the 4th industrial Revolution” will attract bankers, insurance, regulators sector players and other industry experts among others to focus on strengthening capacity to thrive in the 4th industrial revolution.

The conference will feature high-level panel discussions covering topical issues facing the industry at both the global & domestic levels including developments in the payment space, financial inclusion & cyber security among others.

During a virtual press conference held on 13^th July 2021, The Chairman, Uganda Bankers Association, Mathias Katamba, said that the Bankers’ Conference is among key activities in the UBA’s annual calendar that brings together regulators, practitioners and various industry experts from domestic, regional, international, and national spheres involved in delivering financial/banking services.

According to Chairman Mathias Katamba who doubles as the MD- DFCU Bank in picture above said that the strategic partners will aid in adequately scanning their operating environments, redefining conventional definitions of value, and closing the loop between reporting and strategy formulation.

“To leverage opportunities presented by the 4th industrial revolution & manage the potential risks thereto, financial service entities & the business fraternity require assistance of strategic partners in the realms of governance, risk & compliance” he said

The keynote address at this year conference will be delivered by the Governor Central Bank of Kenya, Dr. Patrick Njoroge. Other key conference speakers will include the Governor Bank of Uganda and the Permanent Secretary Ministry of ICT and National Guidance who will preside over the opening ceremonies

Mathisa added that the sub-themes that will be discussed include; emerging trends /developments and future outlook in the payments space, confronting fraud & cyber security risks, redefining financial inclusion & deepening access to financial services which he said are influencing the banking sector in this digital era.

“Ugandan Banking & financial services sector is going through a digital transformation to leverage technology for better customer satisfaction.” he said  

The event was last held in 2019 focusing on strengthening support to the agricultural sector.

On a virtual call, Mark Charles Mwanje Managing Director at Experian said that financial cards issued by Experian a credit bureau formerly Compuscan are enablers of business growth as they help the business community to activate, and realize business dreams through credit.

“Data is crucial in facilitating business today. The data we collect helps inform banks on risks which is a key aspect when banks are accessing their clientele for credit” he said

Speaking at the virtual Press Conference held James Byaruhanga General Manager at Raxio Data Centre Uganda emphasized that Technology is indeed the driving force of business & that the 4th industrial revolution is truly here & COVID-19 is only a catalyst which will require data as a major influencer for recovery of the financial sector.

“COVID-19 has become a catalyst for the 4th Industrial revolution in Uganda forcing a lot of innovation that is supporting the banking sector. Data storage is a key element in the fourth industrial. Collection of data is important but analysis of that data should not be neglected as an equally important role for businesses to move forward" he said