The Financial Technologies Service Providers Association (FITSPA) is an independent, nonprofit, membership-based organization that aims to create a conducive environment to stimulate innovation in the financial services sector by increasing access to affordable financial services through ICT and promoting inclusion in a suitable way.
BACKGROUND OF THE CONSULTANCY
The National Payment Systems Act was passed by the Ugandan Parliament in May 2020 and gazette in September 2020. The objective of the Act is to regulate payment systems, provide for the safety and efficiency of payment systems, provide for the functions of the central bank in relation to payment systems, prescribe the rules governing the oversight and protection of payment systems, provide for financial collateral arrangements and regulate payment service providers, issuance of electronic money and oversight of payment instruments. Fintechs were expected to comply with the regulations' requirements from 4th March 2021.
The Data Protection and Privacy Act 2019 is an Act that was passed to protect the privacy of the individual and of personal data by regulating the collection and processing of personal information, to provide for the rights for the persons whose data is collected and the obligations of data collectors, data processors and data controllers, to regulate the use or disclosure of personal information and for related matters.
One of FITSPA’s core activities over the last 3 years has been to assist and support the building of a safe and regulated Fintech ecosystem to establish and facilitate trust of the Fintech industry by various stakeholders both within and without the industry. Considering that the Fintech industry in Uganda is still in its formative stages and most of the entities have been operating outside the regulatory sphere, there is an urgent need for providing support to the Association and its members to ensure compliance.
FITSPA invites proposals from suitably qualified consultants to offer support and guidance to FITSPA members on compliance with the National Payment System Act and the Data Protection and Privacy Act. Under the supervision of FITSPA’s Programs and Activities Lead, the consultant will handhold FITSPA’s members to ensure compliance with the Acts.
SCOPE OF WORK
EXPECTED OUTPUTS AND DELIVERABLES
QUALIFICATIONS AND EXPERIENCE OF THE CONSULTANT
The successful consultant will possess the following qualifications and experience:
Interested individuals or companies who meet the above criteria are required to submit their technical and commercial proposals which must include, but not limited to, the following:
EVALUATION AND SELECTION CRITERIA
Evaluation and selection of submitted proposals will be based on the following criteria:
FITSPA reserves the right to contact the stated organization(s) to validate cited past work done by the consultant(s).
SUBMISSION OF PROPOSALS
The deadline for submission of proposals is 5:00pm on 12 th May 2023.
All proposals should be addressed to the attention of “The FITSPA Finance and Administration Committee.”
Proposals can be sent via email to firstname.lastname@example.org or hand delivered to the FITSPA offices on 1st Floor, The Wildlife Tower, Plot 31, Kanjokya Street, by the deadline time and date.
Proposals received after the deadline will not be considered for evaluation.