Policy and Regulation

 Policy and re-regulation to support and supervise financial technology and digital financial services is fundamental to the future, safe, secure expansion of a financial sector that can best respond to customer needs. New issues continue to emerge, relating to conduct, competition, data protection, cybersecurity, identity and neo banks.  Central Banks and policy makers must strive to balance innovation and risk, but start from very different levels of resourcing, capacities and legal and regulatory environments. First Principles applies its knowledge of the financial sector and its interactions with regulators, labs, payment specialists and fintechs to think through these emerging issues.

Reference Assignments· 

• A Policy and Regulatory Framework for Shared Services for SACCOs: Explored how SACCOs can collaborate to develop services that better enable SACCOs to respond to the ever-changing competitive environment. The assignment considered the policy and regulatory issues arising from the creation of shared services, including legal form and risks including cybersecurity and outsourcing.
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• Crowdfunding in Africa: The 2008 financial crisis spurred the growth of alternative finance mechanisms and financial technology. Donation, reward, loan, and equity based crowdfunds spread throughout the USA, Europe, and China. Crowdfunds in Africa, less affected by the 2008 crisis responded more slowly. This assignment consulted the African crowdfunding industry to assess constraints and opportunities for the industry. 

• Sustainability Pathways for Accelerators and Innovation Labs in Africa: Incubators, accelerators and innovation labs play a significant role in stimulating financial technology and linking it to the financial sector and to investors. However, few of the 1,000 or so labs in Africa are sponsored or hosted by financial institutions or technology companies. This assignment explores how these incubators, innovation labs and accelerators maintain their operations.