Luanda - The National Bank of Angola (BNA) plans to launch, in the second half of this year, a program to assess the quality and consistency of data that reports banking risk information in the country, announced yesterday, in Luanda, the governor of the Central Bank, Manuel Tiago Dias.
When speaking at the closing ceremony of the 2nd edition of the “Angola Banking Conference” event, the manager considered it to be an exercise that will involve all banking financial institutions.
He said that the program will also look at the prevention and mitigation of IT risks linked to cyber-attacks, digitalization and the growing dependence on the outsourcing of services, such as the open finance ecosystem, including cloud computing services.
According to Manuel Tiago Dias, the implementation of the aforementioned system will culminate in the construction of an open finance ecosystem, which will require legislative reforms and the development of an adequate regulatory environment, with emphasis on the protection of customer data.
He pointed out the access of new participants to the financial system and healthy competition between operators in a governance model for this ecosystem as other benefits of this initiative.
With this, he said, the BNA plans to promote an open finance system through the incorporation of actions that aim to create a regulatory, operational and high legal security environment for all participants in the ecosystem.
He added that the aforementioned program will also promote an innovative environment in terms of expanding the offer of financial products and services, as well as promoting competition and financial inclusion, with more favorable conditions for citizens to join.
On the other hand, the BNA governor considered it essential to guarantee decision-making based on high-quality data, regarding the accuracy, consistency, integrity and reliability of financial data.
Held under the motto “Challenges, trends and opportunities for banking in Angola”, the 2nd edition of the Angola Banking Conference featured the participation of several experts, who debated on data issues, innovation and cybersecurity, as drivers of digital transformation, in an initiative joint venture between Revista Economia & Mercado and PwC.
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