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?