The Nepal Bankers’ Association (NBA), in partnership with the International Finance Corporation (IFC), conducted a workshops in Janakpur, Madhesh province under the theme “Knowing your Digital Payment Services for Digital Empowerment.” The workshop aimed to deepen participants’ understanding of the development of digital financial services (DFS) in Nepal, the associated regulatory frameworks, and the vital role of financial inclusion.
Ms. Suvekshya Bhandari Subedi from IFC, inaugurated the workshop by outlining its objectives and providing an update on the DFS Nepal project. She underscored the importance of enhancing digital financial literacy, with a particular focus on improving access to and the security of these services, especially at the grassroots level.
Following the opening remarks, Mr. Sanjib Subba, a Digital Financial Services Expert, led an engaging quiz session titled “Ice-Breakers.” This activity highlighted the significance of digital services and brought attention to security issues such as phishing and fraud. Mr. Subba also facilitated interactive sessions under the theme “Digitally Empowered Employees,” where he showcased various digital financial services and products available in Nepal, exploring strategies to increase their adoption and support the development of a more inclusive digital financial sector.
The workshop explored used cases like M-Pesa and discussed the role of artificial intelligence in enhancing digital financial inclusion, as well as innovations such as credit scoring models. Topics included the “bank-in-a-box” concept, the challenges that “legacy banks” face due to the emergence of digital banks, digital lending, the significance of QR code interoperability, and consumer rights concerning their use. Additionally, the sessions addressed the rising concern of cyber fraud, even among the educated population, emphasizing the need for ongoing consumer education on fraud prevention. Mr. Subba pointed out that the primary drivers of fraud are GIF—Greed, Ignorance, and Fear.
The event saw participation from over 45 banking officials representing various commercial banks.
