In the past century we’ve observed a strong emphasis on technology, while The Human Factor is just as important in terms of digital transformation. Without readiness of the human domain, none of the digital transformation efforts will be successful. The topic for the first day of this event is “The Human Factor” in the 21st century. The purpose of this day is to enable the mindset of each of the participants towards digital transformation.
On the second day of this event the theme is “FinTech”. The purpose of this day is to give the audience some insights on how Fintech is reshaping the financial world on a monetary and business level based on these topics: Governments Digital Coins, Ripple vs Swift, Data analytics for Banking , Banking & Ecommerce, Mobile money based on blockchain technology.
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Different studies give insights in the different skills that will be needed for the 21st century. One thing is certain that in the near future the human factor will play an important role. “As the 21st-century learning movement expands internationally, we’re seeing an abundance of frameworks, assessments, and semantic labels as different organizations put their spin on what’s worth knowing. The unifying theme of these various frameworks seems to be the human factor. The core skills of collaboration, communication, and critical thinking are things that humans do well and machines not so well,” argues Ross. “Machines are getting better at them,” he adds, “but perform them best in concert with humans.” Source: https://www.edsurge.com/news/2019-01-22-its-2019-so-why-do-21st-century-skills-still-matter
In the past century we’ve seen that there was an emphasis on technology instead of the Human factor. With day 1 of this summit we want to give the audience valuable insights from different perspectives (Employeeship, Citizenship, Artificial Intelligence, entrepreneurship and inclusion) why the human factor will be more important than ever in the 21st century.
Digital transformation is not only changing organizations to the point of survival but is dramatically affecting the employment landscape.
Employees need new capabilities, different skills and special personal characteristics to continue adding value to the organizations in this new era. Artificial Intelligence and Machine learning will make this change and requirements even more complex and challenging.
Given this changes, what are organizations like Cisco looking for in their talent acquisition efforts? What are the key elements for people entering the labor market? Can the new talents and requirements be obtained and trained? What technologies and training can help employees perform appropriately under this new paradigm?
To be determined
Our ability to unleash our full potential is proportional to our awareness that no-one and nothing ‘is’. ‘Is’ is simply a story our brain uses to make meaning of people and things so we can predict their behavior and adapt our own.
Using unique simulations and experiments I will share with the audience, I help people and organizations become more aware of their automatic behavior induced by stories of role, ethnicity and gender. Such stories impede responsibility, creativity and leadership and stifle progress.
When we start to wake up and see beyond our social conditioning of who we think we and they “are”, we can unleash our true human potential - and transform our world.
“Equality is the state of being equal, especially in status, rights, or opportunities. In order to achieve equality, people must be fair and respect differences in their values and status.”
For example: “Equality in Employment is regulated by a combination of UK Laws and UK regulations leading to the Equal Opportunities and Discrimination Act (Equality Act 2010).The act contains a number of key concepts or ‘protected characteristics’ which include:
- Age
- Disability
- Gender reassignment
- Marriage and civil partnership
- Pregnancy and maternity
- Race
- Religion of belief
- Sex
- Sexual orientation
” Source: https://newmanstewart.co.uk/news/2018/08/behaviours-that-support-equality-diversity-and-inclusion-at-work/184
Why does diversity and Inclusion matter?
Lunch will be catered by Torarica and is offcourse included in the ticket price. There will also be some entertainment for your benefit.
We weten ondertussen wel hoe technologie grote veranderingen in maatschappij en economie teweeg kan brengen. AI, artificial of augmented intelligence mag rustig worden gezien als een hele grote golf welke zal rammelen aan zekerheden in de menselijke geschiedenis tot nu toe. Nieuwe ronde, nieuwe kansen en bedreigingen voor big tech en ook voor kleine ondernemers.
“ The definition for "business" in past centuries and for several years into this one might be summed up as “providing goods and services to satisfy human needs and desires.” But, today, this basic concept alone won't fly if you want to thrive and find yourself a piece of the entrepreneurship pie.”
“Indeed, there are already more than enough people supplying goods and services to customers. Today, those customers are looking out for the spectacular. Today, creativity, innovation and out-of-the box are the factors spurring success.” Source: https://www.entrepreneur.com/article/293326
What skills are needed for the entrepreneur of the 21st century?
To be determined
Time to walk-in and register your ticket
“Digitization of the Financial Services Industry
Digitization has a strong impact on the financial services industry. One major reason is that financial products are almost exclusively based on information. Examples are payment transactions or credit contracts which, in contrast to purchasing a car, do in most cases not include any physical components. Another reason is that most processes are almost entirely implemented without any physical interaction such as for example online payment or stock trading – exemptions are some physical forms of interaction such as client advisory. Due to recent developments in information technology (IT), the ongoing process of digitization is not only leading to an increasing automation of processes, but to a fundamental reorganization of the financial services value chain with new business models (e.g., robo-advisors) and new actors entering the market (e.g., Apple). The term “financial technology” or short “fintech” reflects this...
” Source: Puschmann, T. Bus Inf Syst Eng (2017) 59: 69. https://doi.org/10.1007/s12599-017-0464-6
The blockchain technology also had an big impact on how Fintech was adopted by organisations and governments. On the second day of this summit we want to give the audience some insights on how Fintech is reshaping the financial world on a monetary and business level.
“The Eastern Caribbean Central Bank (ECCB) and the Barbados-based fintech company, Bitt Inc. (Bitt) have signed a contract to conduct a blockchain-issued Central Bank Digital Currency (CBDC) pilot within the Eastern Caribbean Currency Union (ECCU).
The watershed contract was signed on 21 February at the ECCB’s Headquarters in Basseterre, St Kitts and Nevis.
This ECCB CBDC pilot is the first of its kind and will involve a securely minted and issued digital version of the EC dollar (DXCD). The digital EC dollar will be distributed and used by Licensed Financial Institutions and Non-Bank Financial Institutions in the ECCU. The DXCD will be used for financial transactions between consumers and merchants, including peer-to-peer transactions, all using smart devices. For example, an individual in St Kitts and Nevis will be able to send DXCD securely from his/her smartphone to a friend in Grenada in seconds - and at no cost to either party.
The Governor of the ECCB, Timothy N. J. Antoine, emphasised that in contrast to previous CBDC research and experiments, the ECCB is going a step further.”
Source: https://www.eccb-centralbank.org/news/view/eccb-to-issue-worldas-first-blockchain-based-digital-currency
Why has the ECCB chosen to implement a digital currency based on the blockchain technology to facilitate their monetary system?
What’s the vision of the ECCB on governments using blockchain technology for creating digital currencies.
Ripple connects banks and payment providers via RippleNet to provide one frictionless experience for sending and receiving money globally. Ripple can be seen as a robust counterpart of the current SWIFT system. “Swift is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions.” Source: https://www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp
For Suriname Ripplenet can be seen as a major opportunity to, also, manage cross border payments, because most of the cross border payments done by banks now are managed only by SWIFT. In this session the pros and cons in comparison to SWIFT could be shared with the audience.
“Some of the areas where banking and financial institutions are increasingly using data analytics include:
Fraud detection
Managing customer data
Risk modelling for investment banks
Personalized marketing
Lifetime value prediction
Real-time and predictive analytics
Customer segmentation
Customer spending patterns
Transaction channel identification
Customer feedback analysis and application”
Source: https://www.osganalytics.com/industry-insights/financial-services-industry-insights/data-analytics-banking-financial-services/
How is data analytics used for the areas mentioned above and what impact did it have on the way banks are doing business?
Lunch is catered by Torarica and included in the ticket price.
"Innovation in the Financial Services Industry
Emerging Technologies and data tools are fueling the growth of change in the financial services industry. These winds of change are unstoppable. The sector is only able to deal with this innovation if they are willing to make a fundamental shift in strategy, in the culture, in the focus of the leadership teams and embrace the change.
Business Model Innovation will be an important growth opportunity for Banks. Innovative banks are taking the lead and look to go “beyond banking” offering new value added services to their customers. The mix of commerce and banking provides unique opportunities for banks and merchants to collaborate and provide additional value to consumers and businesses. Michael will highlight some of the trends in the industry, the state of fintech and present some concrete use cases of these so-called ‘value added services’. He will also make an announcement for an upcoming new service in Suriname."
The lack of interoperability of mobile money platforms is a major barrier to effective competition and stalls further progress in the development of mobile money services. Without Wallet to Wallet interoperability, mobile money platforms operate as ‘walled gardens’ wherein users of one platform are unable to directly transfer money to users operating on a second platform. We will examine how the application of blockchain based Central Bank Digital Currency (CBDC) to mobile money has the potential to transform Retail Payment Systems with greater interoperability, increased trust in mobile financial services, facilitate cost-savings and reduce the key payment risks and liquidity constraints that are typically associated with mobile money.
To be determined
Business Borrel / Entertainment
The ICT-Association Suriname is proud to present our sponsor document. Please download our pdf (6mb) and see all the necessary info needed to be part of our event.
Digtal Impact Suriname 2019 Sponsor Document
Interested sponsors can contact the treasurer Nathalie Klaverweide at connect@ictevents.sr before the deadline and submit the following: organization, contact person, sponsorship level.
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