AML/CFT in a Fintech World: Understanding Your Fintech Customer



  • Intense and value-for-money 3-day programme
  • Ideal for AML and Compliance professionals from conventional FIs (banks, insurers, CMOs, PFAs, PFCs), money service businesses, consultants working with conventional FIs, staff of regulatory agencies in AML and related supervisory functions, members of FIs’ intelligence/investigation teams, members of KYC/CDD teams, outsourcing partners providing KYC/CDD/Customer Risk Assessment support, internal auditors (particularly those responsible for AML/CFT reviews/testing and AML/CFT function’s audit), internal control officers and law enforcement/investigative officers
  • The programme draws on real-world operational experiences and emerging financial crime typologies encountered when serving FinTech clients
  • Valuable AML/CFT materials put together specifically for you

Enhancing Knowledge, transforming minds


AML/CFT in a FinTech World: Understanding Your FinTech Customer

 Programme Overview

Financial technology companies (FinTechs) leverage online and mobile applications to offer newfinancial services with efficient and cost-effective customer experience. However, the non-face-to-face (non-f2f)natureof FinTechbusinessesposesrisksthatfraudstersorothercriminalsmayseektoexploittheseremoteplatformsandrelatedproducts.

Robust customer due diligence (CDD) is one element of an overall risk management architecture that can mitigate these threats. FinTechs are uniquely suited to harness and develop innovative CDDapproaches, owing to their dynamic business models and comfort in using technological solutions

This programme provides examples of leading practices in CDD among FinTechs, offering practical insight for FinTech c ompanies and other stakeholders such as banks and regulators, seeking to better understand the industry. The programme providesexamples of how FinTechs are utilising innovative CDD approaches to manage risks while alsoenabling a high-quality customer experience. For example:

  • FinTechs are leveraging numerous data points and employing innovative analytical approachesto enable a dynamic and holistic view of customer risk
  • This includes the use of facial recognition techniques, interactive user interfaces, innovativedocument scanning and analysis, Internet Protocol (IP) geolocation, predictive analytics andmachine learning/artificial intelligence.
  • These solutions can enable FinTechs to employ a genuinely risk-based approach to CDD astheir customer base and service offerings evolve

This programme also assesses areas where FinTechs can benefit from further development and exploration.For example:

  • FinTechs should carefully consider the appropriate balance of in-house and third partysolutions for their business model
  • FinTechs must be prepared to conduct thorough and formal assurance testing of both in-houseandthird-partysolutionsandoutsourced services
  • As they scale, it is important that FinTechs have in place adequate governance arrangementsto manage risks that come with changes to their CDD systems and controls

This highly interactive, compressed and intense 3-day programme provides participants with opportunity to learn leading practice KYC/CDD processes used by FinTechs

Participants will learn through our blended learning approach, including presentations, case studies, role plays, insights from real-world AML practitioners and theoretical and empirical evidence on how tostrike the right balance between supporting innovations and managing any ML/TF risks that may arise from business relationships with FinTechs

Programme Objective

First, the objective of this programme is to raise awareness and enhance the existing knowledge of participants about FinTech businesses as both potential and existing customers. Second, the objective is to provide a robust, comprehensive and leading practices insight into AML/CFT in a FinTech world.

The programme will provide insight into the operational aspects of different types of FinTech businesses and the potential inherent financial crime risks they can face. The programme will also explore the unique FinTech approaches to customer on-boarding, transaction monitoring and data storage and how these can affect business relationships.

The target outcome of the programme will be to provide participants with the tools needed so that Financial Institutions (“FIs”) can appropriately and effectively establish business relationships with FinTechs and demonstrate a solid understanding of their risk profiles, from a financial crime perspective.

By the end of the programme each participant will be able to:

  • Learn how to identify if a customer is a FinTech or not
  • Understand the business model of FinTechs
  • Recognise the financial crime risks inherent in FinTech businesses
  • Learn how financial crime risks for FinTechs are different from those faced by conventional financial institutions; and how they are similar
  • Identify and understand the controls used by FinTechs to mitigate risk
  • Understand the different context in which FinTech customers operate, if the participant is from a bank, insurance company, CMO, money service business, regulator or a law enforcement agency
  • Explore the types of KYC/CDD processes used by FinTechs
  • Gain the tools to develop a personal and organisational response to CDD in a digital world
  • Develop techniques and strategies to enable high-quality and high-tech CDD
  • Equip himself or herself with practical knowledge on how to conduct robust CDD in the face of new technologies and business models
  • Further his or her knowledge on digital identities (IDs)
  • Discover how FinTech governance can differ from conventional financial institutions
  • Gain insights into the unique factors that may make FinTechs vulnerable to financial crime
  • Learn how to onboard new FinTech customers, and effectively monitor existing ones
  • Develop an effective financial crime risk management strategy for potential and existing FinTech customers
  • More effectively manage relationships with FinTechs as customers and business partners

Expand the horizons of self and those of co-participants and build a network of high-level professional


We are first a research company, and everything we do, be it training or consulting, is based on research we have conducted ourselves or those conducted by others. So, we do not just train on the basis of emotions. Our training programmes are based on strong theoretical and empirical findings. These findings allow us to provide our programmes’ participants up to date perspective on areas of interest.

In addition, we are locals and we understand the business environment. We have a good blend of both consulting and real-world day-to-day practical business experience in Nigeria. We have folded our sleeves before and we can fold it for you. Indeed, we are not just trainers and facilitators, we have a good understanding of how things are done in practice in Nigeria. We pride ourselves to be subject matter experts (SMEs) in the areas we train on. If we cannot provide contemporary insights and in-depth knowledge on a particular subject area, then we would say it from the outset.

Furthermore, we have developed our competencies in a lot of areas and we can be a one-stop shop for your organisation in terms of consulting, training and research (qualitative or quantitative) in the areas of leadership, governance, strategy, change management, risk management, compliance, AML/CFT (for financial institution), ethics, team functionality, emotional intelligence, legendary customer service, internal control and standard operating procedures (SOPs) development. We also go out of our way to adopt the best model for each training programme we offer and we are even ready to go “Down Under” (Australia) if that is where we will find the best model. Aut Optimum Aut Nihil; this Latin maxim is not just a philosophy to us, we live it.

Finally, we have few partner firms in South Africa that we can occasionally collaborate with in areas where we need additional capacity.

Why Attend this Programme?

The financial ecosystem is changing rapidly due to the increased use of information technologies by financial institutions and new competitors. Traditional financial companies are modernising their operations, and new competitors are concentrating their activities on information technologies. Moreover, FinTech services are accessible from anywhere and at any time through online or mobile platforms. Some companies provide products and services offered by traditional financial entities such as payment processing, trading and investment, portfolio management, credit granting, and capital raising applying technology in innovative ways to enhance their operations. Other FinTech firms provide new products such as cryptocurrencies. The growth of FinTech is a global phenomenon supported by venture capital on FinTech start-ups.

With all of these rapid changes, financial institutions must learn how to balance the benefits and risks associated with FinTechs and the different aspects to take into consideration for the development of innovative products and services from an AML/CFT perspective.

This programme provides you with real tools to identify different ways to innovate on AML/CFT and KYC/CDD in this new world full of digital-technology-driven products and services. You will learn how to seize the opportunities brought by the digital revolution and turn challenges into possibilities. You will explore the key FinTech products and services, as well as the benefits and risks associated with them. You will gain insights into different FinTech business models and cultures and the opportunities and risks associated with such models. There will be extensive discussions on the concept of FinTech, RegTech and InsurTech. Practical approaches to applyingholistic CDD measures and recordkeeping to FinTech customers will be  discussed and most of the discussions will be driven home with practical examples, exercises and case studies. The facilitators, who have been AML practitioners for so many years and have deep understanding of AML/CFT in a digital world, will engage participants on how to turn the disruption caused by digital technology into advantages.


Lagos Nigeria

19 – 21 April, 2021

Fee (inclusive of tax)-N275,999.50 ($766.67 for foreign parcipants) per parcipant special 10% discount for groups of 4 or more.

Lagos, Nigeria

19 – 21 April, 2021

Fee (inclusive of tax)-N275,999.50 ($766.67 for foreign parcipants) per parcipant special 10% discount for groups of 4 or more.