The objective of this session is first to discuss the importance of data access and sharing and of cloud uptake for the digitalisation of the EU financial sector and current trends in these areas.
The panel will also assess whether EU data and cloud-related policies appropriately support data-driven innovation in the financial services sector, the further improvements that can be expected from the proposals made in the context of the Digital Finance Package, DORA and the EU data and AI strategies in this regard and the possible challenges associated with these initiatives.
Points of discussion
- What are the main opportunities and challenges related to data access and sharing, open-banking approaches and the use of cloud services in the financial sector (added value for the financial sector, potential benefits for customers, current trends, potential challenges to overcome and conditions for an appropriate use of data and cloud services)?
- Are the current EU policies in this area and proposals underway (i.e. data and AI strategies, DFS, DORA, European cloud services marketplace…) likely to maximise the benefits of data and cloud services use in the financial sector? What possible issues do these proposals raise in the financial sector, are there any missing points in these policies and how may they be addressed?