Principal of the National Banking College Gloria Quartey has commended the Bank of Ghana’s Sand Box approach, designed to support financial innovation while maintaining market integrity.
She however calls for regulatory architecture that keeps up with the speed of innovation. Madam Quartey has been speaking to GBCNEWS ahead of the maiden Financial Architecture Summit scheduled for July.
Ghana’s financial system is undergoing structural recalibration.
The macroeconomic recovery process, exchange rate dynamics, evolving liquidity conditions, and digital transformation of payments and market infrastructure have collectively reshaped the architecture of financial intermediation.
Concurrently, digital finance is accelerating faster than regulatory adaptation, payment ecosystems are expanding beyond traditional banking channels, while Cybersecurity risk has become systemic risk.
According to the Principal of the National Banking College, Mis Gloria Quartey the July summit creates a platform for regulatory re-focusing.
“We are also trying to look at accelerating the interoperability and the digital integrations that we see, so that it’s not just the banks doing their things, but how they can work together with the telcos, how they can work with the fintech so we have a really broad-based, covered. A lot has been done in that space, but then there is still so much more to be done. “
While Commending the Central Bank for its sand box approach to understanding virtual asset innovation, madam Gloria Quartey wants regulators to stay ahead of the digital financial innovation curve.
‘One area requiring urgent attention is the artificial intelligence space. We find out that a lot of the institutions, especially the financial institutions, have deployed AI-enabled platforms, a lot of it, and they’re doing wonders with it. It’s brought a lot of ease to their customers, and people have much more confidence, convenience, and all the things that go with it. But again, in it, are the issues of threats. And it is very important that we begin to look at how cybersecurity regulations and operational resilience got factored into these things. And we believe that with this dialogue, it should be able to bring out some of these things and to prefer practical ways of addressing them.’
The Financial Architecture Summit is expected to Serve as a neutral platform for structured policy–industry engagement, provide a forum for clarifying regulatory expectations and supervisory direction while enabling constructive dialogue between regulators, market operators, and technology enablers.
About the National Banking College
Founded in 1994, the National Banking College (NBC) was the first specialized professional training institution for middle to top level bankers in Ghana.
Over the years the College has grown to carve a new mission and vision offering, from relevant applied research spanning a uniquely broad range of fields to specialist consultancy services. NBC now specialises in creating high impact and engaging learning programmes that are customised to the requirements of our customers’ environments.
