Patrick Njoroge told financial technology (fintech) sector players in Nairobi that they must ensure data from clients is protected so as to build consumer trust and confidence.
Dr Njorge made the call at a time data processing and data sharing by technology companies is under the spotlight.
Protecting customer data privacy will determine the success of financial technology for lenders, the Central Bank of Kenya (CBK) has said.
Governor Patrick Njoroge told financial technology (fintech) sector players in Nairobi that they must ensure data from clients is protected so as to build consumer trust and confidence.
This is by ensuring consumer personal data is processed securely and confidentially by the new disruptive technologies being adopted by financial sector players.
“The point is to be customer-centric. The customer needs to understand that information is not to be used without authorisation,” said Dr Njoroge during the Euromoney East Africa Conference in Nairobi.
The conference highlighted how fintech and innovation are reshaping the financial services industry.
Dr Njorge made the call at a time data processing and data sharing by technology companies is under the spotlight.
This week Business Daily reported that global social networking giant Facebook, which is facing a storm of international protest over its data mining and consumer data protection, is collecting additional citizen data through the Wi-Fi Express programme it launched last year in Kenya, Tanzania, Nigeria, India, and Indonesia.
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