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Policy priorities at the EU level for fostering digital distribution and fintech innovation

Day 2 Afternoon

Thursday 04 April

Room :

Constanta Room - Roundtable

Speakers

Chair
Märten Ross - Deputy Secretary General for Financial Policy and External Relations, Ministry of Finance, Republic of Estonia
Public Authorities
Hanna Heiskanen - Senior Advisor on Fintech and Policy, Finnish FSA
Levin Holle - Director General, Financial Markets Policy, Federal Ministry of Finance, Germany
Pēteris Zilgalvis - J.D., Head of Unit, Digital Innovation and Blockchain, Digital Single Market Directorate, DG CNECT & Co-Chair of the FinTech Task Force, European Commission
Industry Representatives
Eduardo Arbizu - Global Head of Supervisors, Regulation and Compliance, BBVA
Mariano Giralt - Global Head of Tax and Regulatory, BNY Mellon Asset Servicing

Objectives of the session

The objective of the session is to take stock of on-going deep technology evolutions, the role played by Bigtechs in the financial area, and subsequent recent EU policy initiatives. The session should in particular assess their expected influence on innovation and integration in the EU market for financial services and identify the possible EU policy priorities required for an optimal evolution in this field.

Points of discussion

What are the main game changer technologies and their impact on the financial sphere (e.g. business models, players, products and customers)? How is the so-called creative destruction taking form in the financial area? How are existing players behaving (partnerships, competition…) and what are their observed priorities?

What are the main features of the EU Fintech action plan, and to what extent does it help or not to address both the challenges and specificities of the EU notably regarding EU integration?

Is digital disruption helping to speed up the integration of the EU markets for financial services despite existing differences in habits, languages and legal frameworks? How to describe the EU digital landscape in the financial area, compared to other geographies globally? Do digital initiatives taking place have a sufficient cross border dimension? Is Europe catching up?

What should be the appropriate ambitions of the next Commission and subsequent policy priorities for further leverage digitalisation in terms of innovation and EU integrations?