Speakers
Chair
Giuseppe Siani
Director General for Financial Supervision and Regulation - Banca d'Italia
Public Authorities
Petra Hielkema
Chairperson - European Insurance and Occupational Pensions Authority (EIOPA)
Alex Ivančo
Financial Counsellor, Head of Financial and Cohesion Policy Unit - Permanent Representation of the Czech Republic to the EU
Ondřej Kovařík
MEP - Committee on Economic and Monetary Affairs, European Parliament
Industry Representatives
Patrice Amann
EMEA Regional Business Lead - Worldwide Financial Services - Microsoft
Jacques Beyssade
Secretary General - Groupe BPCE
Álvaro Martín Enríquez
Head of Data (CDAO) BBVA Spain - Banco Bilbao Vizcaya Argentaria (BBVA)
Nikhil Rathi
Chief Executive Officer - Financial Conduct Authority (FCA)
Objectives
This session will first assess the opportunities associated with data-driven innovation in the financial sector enabled by open finance and the use of AI and the conditions for maximizing the value of data in the financial services sector.
The panel will then discuss whether the FiDA proposal and the EU AI and data frameworks (AI Act, EU data strategy…) provide an appropriate framework for leveraging the opportunities of data-led innovation in finance, how these frameworks compare with those being developed in other jurisdictions and the operational conditions for an effective implementation of these frameworks, notably in terms of data and API standardisation, digital infrastructure and digital identity.
Points of discussion
- Opportunities and conditions of data-led innovation: What are the main opportunities offered by an effective use and sharing of financial data? How can open finance and AI be leveraged to fully realize the value of data in the financial sector? What are the potential obstacles to overcome for reaping the benefits of data-led innovation in the financial sector and the main risks associated with an increased sharing and use of data?
- Policy impacts and priorities: Do the EU AI Act and data frameworks and the FIDA proposal provide an appropriate basis for data-led innovation in finance? Are there major issues to be fine-tuned or clarified with regard to these measures? What are the key priorities for the next political cycle to facilitate the use and sharing of data in the financial sector? Are further measures needed to ensure that the operational conditions for effective data-led innovation are in place? Is there sufficient consistency in the policy approaches taken to open finance and AI at the international level?