ISLAMABAD: Chairman National Database and Registration Authority (NADRA) Lieutenant General Muhammad Munir Afsar, on Wednesday, said that we are committed to strictly implementing robust cybersecurity measures and ensuring that our systems are secure, resilient, and trustworthy in concert with the fintech sector.

The NADRA chairman said this while addressing the Financial Sector Stakeholders’ Conference organised by the NADRA at its headquarters.

The conference was attended by the representatives of Pakistan Fintech Network (PFN) including Digital Banks, Electronic Money Institutions (EMIs), Non-Banking Financial Institutions (NBFIs) and the Securities and Exchange Commission of Pakistan (SECP).

The main objective of the stakeholders’ conference was to review mutual collaboration and evolving a path for the future to harness digital technology to enhance financial inclusion, reduce fraud risks, and promote a secure and efficient financial ecosystem supported by identity management.

The NADRA chairman emphasised the concerns regarding cybersecurity and citizen’s data protection, particularly, at the edges of the digital ecosystem. “As we embrace digitalisation, we must prioritise the security and privacy of our citizens’ data,” he said.

Representatives from the SECP, Digital Banks, EMIs, and NBFIs shared their perspectives on the benefits and challenges of current eKYC, highlighting the need for interoperability, standardisation, and customer convenience.

Participants expressed their concerns, especially the onboarding regime. The NADRA chairman assured them that they will be provided access within the given timelines through standardised, interactive and online processes.

Copyright Business Recorder, 2024