SINGAPORE, November 8, 2023 – The Mojaloop Foundation on Tuesday announced that it will take part in a panel discussion at the 2023 Singapore Fintech Festival. Mojaloop Foundation Executive Director Paula Hunter will lead a session titled “Empowering Emerging Nations in Achieving Data Sovereignty and Financial Inclusion,” which will feature experts from the Monetary Authority of Singapore (MAS) and the Bill & Melinda Gates Foundation. The panel is scheduled for Wednesday, November 15, at 3:40 p.m. and is open to all attendees.
The other panelists are Kosta Peric, Financial Services for the Poor, Bill & Melinda Gates Foundation (Panelist) and Sopnendu Mohanty, Chief FinTech Officer, MAS. Paula Hunter, Executive Director, Mojaloop Foundation will moderate the session.
Many smaller African and Asian countries face substantial obstacles in their efforts to promote financial inclusion. These countries are unable to achieve the same level of interoperable instant payment systems (IIPS) that larger nations like India have effectively deployed.
To maintain the security of personal information, increase competitiveness, and protect fundamental principles and strategic objectives, nations must maintain control over their hardware, data, and technological infrastructure. In an effort to provide digital financial services to everyone, the session will look at growing concerns about digital sovereignty and the possibility of data and digital colonialism in emerging nations in Asia and Africa.
Mojaloop Foundation Executive Director Paula Hunter stated, “The integration of 1.4 billion financially excluded individuals into the digital economy hinges on the development of interoperable, instant payment systems that unite entire populations. During the panel discussion, we will tackle the complexities of creating resilient digital sovereignty frameworks alongside the development of payment systems that improve financial inclusion, accessibility, and security. By delving into cooperative strategies, technological innovations, and open source frameworks, we can propel financial inclusion through payment systems that empower both digital sovereignty and universal access to financial services.”