AIF and Mastercard co-organise cybersecurity training for financial regulators

The Alliance for Financial Inclusion (AFI) and Mastercard co-hosted the Cybersecurity Challenges and Resilience Management regulatory training. The first of its kind, the two-day event brought together more than seventy participants from over 35 countries around the world.Aimed at building capacity of financial regulators from across the AFI network, the training focused on sharing the best ways to detect, prevent, and respond to cyber-attacks. Mastercard and industry security experts provided comprehensive insights on cybercrime and data breach detection, mitigation and prevention strategies, as well as policies to enhance trust in digital payments.

This training was conducted within the framework of AFI Public-Private Dialogue (PPD). A unique global platform, the PPD enables members to benefit from systematic dialogue and knowledge sharing with key private sector partners. Discussions were centered on solving, through public-private collaboration, critical challenges and harnessing opportunities arising from the adoption of digital financial services for financial inclusion.

The first of its kind training on cybersecurity for financial regulators, brings together more than seventy participants from over 35 countries

“We believe impactful financial inclusion happens only through effective stakeholder partnerships, to which PPD initiatives are critical contributors.  Mastercard continues to be a key AFI PPD partner. With our partnership in its 4th year, Mastercard has been extremely receptive to the evolving needs of AFI members. It has worked closely with the AFI Capacity Building and Policy team to continually refine the content and delivery of the trainings,” said Dr. Alfred Hannig, Executive Director, Alliance for Financial Inclusion.

Dr. Hannig also highlighted that the PPD evolved over the years, with some very effective results. “The 2017 results of AFI’s Member Needs Assessment show an impressive 88.2% rating for PPD partners, adding value to AFI’s capacity building events. It also shows an 88.0% rating on the knowledge gained from private sector partners contributing to implementing in-country policy changes. The demand for in depth technical training by PPD partners rated 86.7% amongst AFI members. Capacity building is one of the seven strategic pillars of AFI and trainings under the PPD initiative is an important service AFI provides to its members,” he noted.

“For over 50 years, Mastercard has been at the forefront of safeguarding the payment ecosystem with innovative solutions to mitigate fraud risk. With global cybersecurity threats becoming ever more sophisticated and stronger, AFI’s PPD platform provides us the unique opportunity to share information and best-practices to help build capacity and keep payments safe against such threats,” said Ravi Aurora, Executive Director, Global Policy Affairs & Community Relations, Mastercard.

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About the Alliance for Financial Inclusion

 The Alliance for Financial Inclusion (AFI), http://www.afi-global.org, is a global peer-learning network of 113 policymaking and regulatory institutions from 94 developing and emerging countries working together to advance financial inclusion policy. AFI members represent over 85 percent of the more than two billion unbanked people, most of whom live in poverty. Follow us on Twitter @NewsAFI and on AFI Blog http://www.afi-global.org/blog.

About Mastercard

 Mastercard (NYSE: MA), www.Mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.