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Digital finance: trends challenges and policy priorities

Digital finance: trends challenges and policy priorities

Day 1 Afternoon

Wednesday 09 April

Room :

ROOM 1

Speakers

Chair
Ugo Bassi
Director - Banking, insurance and financial crime
Public Authorities
Fausto Parente
Executive Director - European Insurance and Occupational Pensions Authority
Ondřej Kovařík
MEP - ECON Committee, European Parliament
Simonas Krėpšta
Member of the Board of the Bank of Lithuania - Bank of Lithuania
Verena Ross
Chair - European Securities and Markets Authority (ESMA)
Industry Representatives
Barbara Navarro
Head of Research, Public Policy and Institutional Relations - Banco Santander
Gilles Moëc
Chief Economist - AXA Investment Managers
Sara Duffer
Chief Compliance Officer - Amazon Web Services (AWS)

Objectives

The objective of this session is to provide the audience with an update on the trends and impacts of digitalisation in the financial sector and to outline the main policy priorities for the new European political cycle to support the further digitalisation of the sector. This session will first take stock of the current state of digitalisation of the European financial sector, the potential longer-term trends and opportunities, and the challenges and risks associated with the use of new technologies in the financial sector. The panel will then assess the impact of existing EU sectoral and horizontal digital frameworks in supporting an effective digitalisation of financial services and discuss the policy priorities for the new European political cycle in this area, in particular among the objectives and measures mentioned in the Draghi report and the EU Competitiveness Compass, as well as possible developments needed in terms of supervision and digital infrastructure.

Points of discussion

  • Digitalisation trends, opportunities and challenges: How is digitalization progressing in the financial services sector? What are the main opportunities? What are main challenges in terms of risks and barriers to digitalisation?
  • Priorities for the new European political cycle: What should be the priorities for the new European political cycle related to the digitalisation of finance? Are new legislative measures needed (e.g. leveraging the Competitiveness Compass)? Does the existing legislative framework need adjusting? Do policy-making and supervision need to evolve to better support an effective digitalization of the EU financial sector?