The 18th Edition of Connected Banking Summit, organized by the International Centre for Strategic Alliances, took place at the Kempinski Hotel on February 19, bringing together key players in the banking sector to discuss the future of digital banking and the pressing need for cybersecurity enhancements.
The event, themed “Empowering Sustainable Banking through Digital Inclusion and Innovation,” stressed the importance of embracing digital transformation to fortify financial institutions against emerging cyber threats.
Mohammed Thoufiq, Vice President of Strategic Partnerships at the International Centre for Strategic Alliances, emphasized Ghana’s significant role in digital banking evolution, citing the Bank of Ghana’s recognition of the industry’s robust framework.
“Ghana Digital Summit has since evolved… and in the last four years, we have rebranded it to Connected Banking because we no longer talk about digital banking alone, but all aspects that make the banking sector a strong one,” he noted.
He also highlighted Ghana’s remarkable achievement as the first country in Africa to attain 100% financial inclusion, reinforcing its position as a leader in digital finance.
Cybersecurity remained a dominant topic of discussion, with stakeholders stressing the urgent need for proactive measures to combat digital fraud.
Dr. Kenneth Ashigbey, Chief Executive Officer of the Ghana Chamber of Telecommunications, urged financial institutions to enhance customer awareness and collaborate with academia in testing innovative solutions to counter cyber threats.
“The only way to deal with this wicked problem is through research and the application of research findings,” he stated.
He further called on banks, fintech companies, and telecommunication firms to share fraud-related data with researchers to facilitate the development of effective cybersecurity solutions.
Stephen Cudjoe Seshie, Deputy Director-General of the Cyber Security Authority, reinforced the connection between governance and risk management in cybersecurity.
He urged financial institutions to adopt a collaborative approach to safeguarding the banking ecosystem.
Similarly, Dr. Dominic Oduro-Antwi, President of the Ghana-India Trade Advisory Chamber, stressed the need for Ghanaians to embrace digital advancements in banking. “We have to improve our systems. We cannot be working in the same old traditional banking ways,” he stated.
The conference concluded with a call to action for the banks, fintech and telcos sector to accelerate digital adoption while strengthening security frameworks to sustain growth and trust in the financial system.
Some highlights from the event;
