SANTO DOMINGO.- The banking sector and other financial agents face the challenge of embracing new technologies to optimize and transform their products and services, facilitate inclusion, and adapt to the needs of their clients, says Daniel Echavarría Wartenberg, an expert in financial regulation, capital markets, and innovation projects.
The professional will be one of the facilitators who will address the changes in financial markets and disruptive technologies in the Fintech and Digital Banking diploma course, which will be held by the Association of Multiple Banks of the Dominican Republic (ABA), through its continuing education platform Aula ABA (www.aulaaba.com.do), starting on April 15.
It highlights that the traditional financial ecosystem has changed in recent years with the incursion of new technologies and agents such as financial technology companies (fintech), so it is essential to identify the trends that will set the standard for an effective adaptation of business models in order to meet the needs of customers.
"It is essential to understand which spaces will traditionally remain part of the traditional financial system (including banks, trust companies, pension funds and other agents) and in which synergies will need to be created, as these are issues that are possibly more characteristic of new technologies and where disruptive actors can give added value and competition to traditional agents," explains Echavarría.
Another topic that will be covered in the diploma course is the changes in the regulatory and supervisory frameworks of different nations, as a consequence of the evolution of financial markets based on the digital economy and the use of emerging technologies.
In this regard, the specialist comments that the Dominican Republic has progressively embraced the adoption of better financial practices, with the support of international organizations, and has the opportunity to learn from the experience of other countries that have begun the transformation in terms of regulations on financial innovation.
The diploma program also includes an analysis of the structure of digital banking and Fintech startups, their business and monetization models, the costs and risks involved in their operations, the benefits they bring to a digital economy, among other topics, the ABA reported in a press release.
About Daniel Echavarría Wartenberg
Daniel Echavarría Wartenberg is a senior advisor to the Bogotá Energy Group (GEB), specializing in innovation and venture capital projects. He is an expert in financial regulation, capital markets, sustainability, and innovation projects.
Prior to joining GEB, he served as Director of Market Access at the Financial Superintendency of Colombia, where he previously worked on the regulation team and has held positions in banks, trust companies and investment banks, as well as in several of the country's largest law firms.
He is a lawyer from the University of Los Andes, with a Master of Laws (LL.M.) from New York University and an MBA from INALDE. He also teaches financial law, fintech, legaltech, and investment banking at several universities in Colombia.
