Digital technologies and AI reshape global financial services

The financial services sector is undergoing a rapid transformation driven by artificial intelligence, digital assets, and evolving payment technologies. At the FinTech2030 conference in Malta, the Malta Financial Services Authority (MFSA) discussed how technological shifts like tokenization, stablecoins, and the EU’s Markets in Crypto-Assets Regulation (MiCA) are creating both new opportunities and complex risks for regulators.

In Ghana, financial institutions are working to integrate the informal economy into the digital ecosystem. Visa and Access Bank Ghana have introduced ‘Visa Accept,’ a smartphone-based technology designed to allow micro-merchants to accept contactless card payments without traditional point-of-sale hardware. This initiative aims to bridge the gap for small businesses that currently rely on cash.

Furthermore, the rise of AI and stablecoins is expected to disrupt traditional cross-border payment systems. Industry leaders suggest that AI is already being applied to fraud detection, regulatory compliance, and liquidity management, offering businesses more efficient ways to manage international transactions and foreign exchange volatility.