Stanbic Bank Uganda Limited, the Capital Markets Authority, and other partners have united to discuss how to meet the changing technological needs of their clients.
The head of investor services, Africa region at the bank Harry Chaitanya said there has been a change in technology and tech- enabled competition- necessitating adoption of new trends.
"A lot of things changed because of the Covid 19 pandemic and as a result new technology came up which required us to adopt it", Chaitanya said.
Chaitanya also urged partners and custodian banks to be vigilant of the cyber threats in the sector imploring banks to evaluate threats.
The director legal and board affairs at capital Market Authority Miriam Musaali urged Stanbic Uganda to seek partnership with the authority on the importance of custodian banks and the benefits of Capital Markets Investment.
A chartered finance analyst and investment manager at the deposit Fund Allan Lwetabe observed there should be continuous engagement of custodians compared to firm managers in order to benchmark security.
"There is no important party other than the custodian who handle bulky of cash other than the firm managers", Lwetabe said.
