This session will first discuss the state of progress of digitalisation in the EU financial sector and the opportunities and possible issues associated with the digitalisation of financial services for financial market players and their customers. The panel will also assess whether EU digital policies (e.g. the proposed Digital Finance Package, the application of horizontal digital frameworks such as the EU strategies for data and AI to financial services…) set out the main actions needed for accelerating the digitalisation of the EU financial sector, facilitating the integration of the EU digital financial market and mitigating the potential risks associated with these evolutions.
Points of discussion
- How far has digitalisation in the EU financial sector come? What are the opportunities and risks associated with digitalisation for financial market players, citizens and businesses? How does the EU compare with other regions (US, Asia) in this area and how can the EU compete?
- Are the rules in place today for the financial sector fit for the digital world, and are the EU’s plans for digital finance on the right track? How far will the Digital Finance Package go towards accelerating innovation in the EU’s financial sector and building a true single market for digital finance? Do we need to do more? What challenges does the development of digitalisation raise for EU financial supervisors and how to tackle them?