Thanks for joining: PwC Nigeria's FS Webinar COVID-19 and the Financial Services Industry Conversations with Business Leaders Building Digital Infrastructure Resilience Presentation starts: 2:00pm
Toyebi Oyeyinka Technology, Advisory Senior Manager PwC Nigeria The Moderator Welcome
Andrew S. Nevin Partner and Chief Economist & West Africa Financial Services Leader Opening Remark
Damola Yusuf Technology, Advisory Partner PwC Nigeria Subject Matter Expert 1 Coming up next
COVID-19 and its impact on the Nigerian FS industry Building Digital Infrastructure Resilience April 2020
Content COVID -19 Response - Key challenges for the CIO and CTO 3 Global responses to COVID-19 Key Considerations for building Digital Infrastructure Resilience Internal Date February 2020 NNPC Retail Limited Lubricants Business Plan 6 PwC 6
COVID -19 Response - Key challenges for the CIO and CTO
Challenges for building Digital Infrastructure Resilience Financial Services players in Nigeria face the following challenges in responding to the impact of COVID-19. 01 Flexible and Remote working capabilities with the right controls in place 01 02 Main body text here 02 Operational resilience of middle and back office processes goes here goes here goes here that are manual or require paper based approval goes here goes here goes here goes here goes here goes here 03 Availability of infrastructure and hardware for staff/organisation to execute their duties effectively 05 03 04 Cybersecurity breaches, Information security risks, social engineering and fraud incidents 04 05 Business Continuity Plan Rollout constrained by IT support & services COVID-19 and Digital Infrastructure Resilience April 2020 PwC 8
Global Responses to COVID-19
COVID-19 pandemic: Key Financial Services responses from selected global territories China India United States of America United Kingdom • China’s financial services sector has • Enhanced use of digital and • Banks are leveraging non-traditional • Banks have activated business experienced a very significant traffic mobile banking platforms. channels such as telephone banking, continuity plans that were put in spikes in key digital channels during the • Offering employees remote work mobile and online platforms to support place outbreak. customers’ needs options. • The Reserve bank of India he RBI • In addition to leveraging existing digital • Regular deep cleaning of ATM • Few branches operating at reduced has directed all lenders to make channels, banks also accelerated the machines and banking facilities working hours while service status banking facilities available on path to digitized core-banking processes • Temporarily closure of most updates are available for customers on mobile applications to prevent any such as electronic know your customer some bank’s websites branch lobbies to the public until disruption in service (eKYC), digital signature collection, and further notice • Banks are providing information/advice • Push for digital payments as a online document submission • Limiting direct banking services to on personal finance as well as FAQs and safer alternative to cash • Reduced opening hours, enhanced ATM personal appointments and drive- a digital assistant on their website to transactions services, and deep-cleaning programs alleviate the customers’ demand on the up windows at locations where • Customers are directed to use are some of the responses to the they are available call centres mobile applications, online COVID pandemic • Disruptions expected in new • Insurance firms are establishing channels for sending money or • Banks defined a remote working “emergency trading protocols” to ensure Insurance business and paying bills framework dependent on staff needs underwriting processes due to business including encouraging electronic • Most employees engaged in and requirements adapted their digital dependence on paper applications placing rather than the traditional practice administrative jobs are to work resources to enable the shift to remote and medical underwriting of brokering face-to-face deals from home while essential workers working are split in working spaces COVID-19 and Digital Infrastructure Resilience April 2020 PwC 10
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Alfred Yadua Technology, Advisory Senior Manager PwC Nigeria Subject Matter Expert 2 Coming up next
Key Considerations for Building Digital Infrastructure Resilience
Digital Office Framework The Digital Office Framework provides a holistic view of how organisations can employ digital to continue operations Employees use… Access devices PCs Smartphones Tablets … supported by … Communications Infrastructure Communications Infrastructure Remote Connectivity Office Connectivity … to access applications that facilitate business … and enhance collaboration across interactions, such as … The virtual workplace environment Business Applications Video teleconferencing Core business applications (front, middle and back office) Collaboration applications Meeting room technology Workplace utilities … governed by … Digital Security Workplace access Application access End point access Network access COVID-19 and Digital Infrastructure Resilience April 2020 PwC 14
Setting up your COVID-19 response: Considerations (1 of 2) COVID-19 response strategy Network Planning & Business Continuity Planning Digital & Mobility Strategy Optimisation Maintain productivity with a virtual Provide adequate support to Proactively react to change to ensure business workplace environment employees and stakeholders to continuity enable operations • Leverage a digital office framework employing IT • Activate the Business Continuity Plan (BCP), the • Optimize network capacity to support hardware, communications infrastructure and plan should include critical business processes, remote workforce (voice, video, data, business applications that is governed by digital Business Impact Analysis (BIA), Call tree etc. bandwidth etc. ) security and access controls • Identity gaps in the business continuity plan and • Determine License requirements and • Review Digital IT infrastructure capacity develop future proof updates to the business implication for remote working. • Introduce virtual desktop infrastructure continuity plan in light of experience • Ensure centralized management of • Define and implement digital integrated solutions • Define communication strategy across the physical and remote branches via • Conduct digital process automation enterprise for customers, partners, employees etc. Digital Network Architecture (DNA) • Define mobile workforce strategy and capability • Understand and anticipate failure points in current • Ensure availability of the most adequate (mobile CRM, mobile BPM, mobile ERP and finance operations and up-to-date remote access mobile BI solutions, BYOD) • Identify resource constraints and spikes in demand technology (e.g., virtual private network • Ensure seamless access to information and against supply chain – VPN), perimeter protection technology people in the organisation • Ensure internal technical support are sufficiently • Provide over-the-phone digital banking training equipped to accommodate potentially new and to customers who are not able to transact via elevated levels of requests digital channels • Leverage existing enterprise wide tools such as intranet for communications and ensure collaboration channels are always open COVID-19 and Digital Infrastructure Resilience April 2020 Source: PwC COVID-19 Response Considerations PwC 15
Setting up your COVID-19 response: Considerations (2 of 2) COVID-19 response strategy Cloud Strategy IT Security & Control Leverage cloud hosting for remote Introduce control measures to ensure working information security • Assess the readiness of the business for • Consistently monitor any potential vulnerabilities cloud adoption and threats to the business • Identify candidate applications for cloud • Reinforce network security and monitor network migration traffic • Develop a cloud adoption roadmap that will • Develop governance and control framework in line help with business continuity and remote with remote working and mobility strategy working in the short, medium and long term • Review and upgrade cybersecurity and anti-fraud tools • Revise relevant policies to enable employees work from home • Ensure encryption of sensitive data, such as employee or customer personal information, and company business data • Employees should be trained regarding information security measures relating to remote access COVID-19 and Digital Infrastructure Resilience April 2020 Source: PwC COVID-19 Response Considerations PwC 16
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Questions & Answers All
Adedoyin Amosun Operations & Financial Services Advisory, Associate Director PwC Nigeria The Survey Coming up next
COVID-19 Implications- FS CTOs, CIOs and CDOs survey April 2020
The Survey respondents were drawn from across the FS Industry April 2020 PwC 21
About 36% of FS Technology executives are of the view that the impact of the pandemic will last for 6-12 months. April 2020 PwC 22
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