This session will discuss the role played by tech companies in finance (bigtechs and fintechs), how this role is expected to develop in the coming years and the opportunities and challenges associated with this development. The panel will also assess the policy approach needed for addressing the increasing role of tech companies in finance and the priorities for the EU in this regard, taking into account policy developments at the international level.
Points of discussion
- How extensive is the role of bigtechs and fintechs in finance and what are the future prospects? What are the main opportunities associated with this development and does current financial regulation support the development of bigtechs and fintechs in finance?
- What are the main challenges and potential risks associated with the increasing role of fintechs and bigtechs in finance e.g. in terms of competition, financial stability, supervisory capacity…? Are these challenges appropriately addressed by existing financial policies and digital policy proposals made in the EU, notably the Digital Finance Package proposals? What lessons can be drawn from policy initiatives and proposals made at the international or global level in this area?