Speakers
Objectives
This session will first take stock of the short and longer term impact of new technologies in the financial sector and the opportunities and challenges they present. The panel will also assess the relevance of existing sectoral and horizontal digital frameworks in supporting an effective digitalisation of financial services and identify key policy priorities for the next European political cycle in this area (e.g. need for further developments of the current regulatory framework, possible changes needed in rule-making and supervisory approaches…).
The objective of this session is to provide the audience with an update on digitalisation trends and the evolution of digital policies and supervisory approaches in the financial sector. It will be followed by several other sessions in the same afternoon, which will explore in more detail the expected impact of specific technologies and developments, such as AI, blockchain, cryptoassets and open finance, on the financial sector and their policy implications.
Points of discussion
- Digitalisation trends, opportunities and challenges: How is digitalisation progressing in the financial services sector? What is the outlook for the next 5 years? Can digitalisation lead to a significant transformation of the financial ecosystem and of the way financial services are produced, provided and consumed? What are the related benefits and challenges? Are there major obstacles to digitalization in the financial sector?
- Priorities for the next European political cycle: What should be the priorities for the next political cycle related to the digitalisation of finance? Should the focus be mainly on implementing the digital finance and horizontal digital regulations already adopted or should additional actions be launched to address new developments? Do policy-making and supervision need to evolve to better support an effective digitalisation of the EU financial sector? How can the operational barriers to digitalisation be addressed?