Evaluate FinTech license applications from a technology perspective, focusing on:
Network infrastructure: Assess the robustness, scalability, and security of the proposed network architecture.
IT infrastructure: Review the hardware, software, and cloud services proposed by the applicant.
Data security: Analyze measures taken to protect sensitive data, including encryption, access controls, and incident response protocols.
Review any tech aspect in the application.
Provide recommendation and expert opinion on any emerging technology : BlockChain, Cloud services, AI, Crypto, etc.
Assess compliance with regulatory requirements related to technology, including data protection laws and industry standards.
Provide recommendations to the central bank regarding the technological soundness of the FinTech applicant.
Collaborate with other departments or external experts as needed to ensure thorough evaluation.
Stay updated on emerging technologies and security threats in the FinTech industry.
Risk expert:
Assess the risk framework of FinTech license applicants, focusing on:
Risk identification: Identify and assess potential risks associated with the FinTech's operations, products, and services.
Mitigation strategy: Evaluate the effectiveness of risk mitigation measures proposed by the applicant, including internal controls and risk management processes.
AML (Anti-Money Laundering) and KYC (Know Your Customer): Review compliance with AML/KYC regulations and the effectiveness of customer due diligence procedures.
Data protection: Assess measures to protect customer data and ensure compliance with data protection laws.
Provide recommendations to the central bank regarding the risk profile of the FinTech applicant.
Collaborate with other departments or external consultants to address specific risk-related concerns.
Stay updated on regulatory changes and industry trends impacting risk management in the financial sector
