Nino Jeladze, Vice-Governor of the National Bank of Georgia, participated in a high-level roundtable organized by the Global Finance and Technology Network (GFTN) in Thailand on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings.

During the discussion, Nino Jeladze highlighted cybersecurity risks, fraud prevention mechanisms, the importance of business continuity, and the need to strengthen the resilience of the financial sector.

As Nino Jeladze noted, in an instant payments environment, where transactions are completed within seconds, automated monitoring systems, real-time risk assessment, and the identification of suspicious transactions are particularly important for the timely detection of fraud. Artificial intelligence can play a significant role in this process; however, its development also increases the risk of new methods of fraud emerging.

Nino Jeladze noted that the National Bank of Georgia supports the development of innovative, fast, and efficient payment systems. At the same time, technological progress must be accompanied by stronger security standards and measures to ensure the resilience of financial institutions.

“A payment system is not truly efficient if it is fast but cannot be trusted. That is why speed, security, and resilience must develop in parallel,” Nino Jeladze noted.

The GFTN high-level roundtable aimed to bring together policy, capital, and technology, as well as to address the challenges facing financial sector development and modern payment ecosystems.