Absa Bank Uganda has convened a high-level workshop bringing together financial institutions, regulators, fintechs, and data protection experts to strengthen sector-wide collaboration on data privacy. The event, held in Kampala on September 29, 2026, focused on addressing privacy challenges in an increasingly digital financial ecosystem. Absa Bank Uganda Managing Director David Wandera emphasized that data privacy must be treated as a strategic management issue rather than a purely technical or compliance concern. "Technology enables better customer understanding and faster service delivery, but every new connection creates potential vulnerabilities," Wandera stated. "Data privacy is now a management imperative that directly impacts customer trust."
The workshop explored the evolving Ugandan financial landscape, where mobile money, digital lending, and fintech partnerships have expanded access to financial services beyond traditional branches. While these innovations enhance convenience and financial inclusion, they also increase the risk of customer data exposure across multiple platforms. Discussions centered on accountability mechanisms for data sharing between institutions to combat fraud and money laundering while safeguarding privacy. Key topics included consent management, open banking, and privacy risks in agency banking. Thav Reddy, Absa Group Head of Data Privacy, highlighted the critical role of collaboration as financial services become more interconnected. "Customer data no longer resides within a single institution," Reddy said. "Building privacy into service design from the outset—through data collection, sharing, and AI deployment—ensures trust and scalability."
The session also addressed the growing integration of artificial intelligence in financial operations, from fraud detection to risk analysis. While AI offers efficiency gains, it raises governance and accountability questions. Participants stressed the importance of "privacy by design," ensuring data practices are embedded in product development rather than addressed retroactively. Uganda’s data protection framework is maturing, imposing stricter obligations on organizations to implement robust governance and safeguards. Wandera reiterated that technological advancements must align with customer trust. "Customers may not understand AI models or APIs, but they will sense whether they can trust us with their money and information," he said. "Success in digital banking hinges on balancing innovation with the human-centric values it aims to serve."
The workshop underscored the necessity of sustained cross-sector collaboration as financial institutions navigate digital transformation. With AI and open banking reshaping service delivery, stakeholders agreed that proactive privacy measures are essential to maintaining public confidence. Absa Bank’s initiative reflects a broader industry shift toward embedding ethical data practices in the fabric of digital finance, ensuring growth does not come at the expense of consumer security.