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The Future of Financial Services: Which policy mix to stimulate innovation in products, models and processes?

When
Tuesday
Where
CEPS Conference Room
1, Place du Congrès - 1000 Brussels

Participation in this event is exceptionally free of charge.

CEPS Event

The Future of Financial Services: Which policy mix to stimulate innovation in products, models and processes?

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In a context of rising competition and increasingly exigent consumers, established banks and newcomers are using enabling digital technologies to develop new products, processes and models. This wide structural transformation is triggering specific risks that European and national regulators are gradually addressing. The range of issues is relatively broad: cyber security, digital interoperability, personal data protection, new norms for algorithms, contribution to further cross-border sales, digital information disclosure, etc. Ambitious regulations (GDPR, PSD2, MiFiD, AML, etc) in turn result in further needs for established players to innovate in order to comply with the new rules (the so-called “RegTech”).

An appropriate policy framework for stimulating innovation is therefore essential to ensure a balanced digital transformation of financial service providers. The purpose of this conference is to bring together senior practitioners and high level officials with the aim of fostering the exchanges of ideas on the best policy approach to enhance innovation in financial services. Some focus will be placed in particular on the relaxation of specific compliance processes (the so-called regulatory “sandbox”), subsidies for innovation labs and accelerators, tax cuts, lower registration costs, financial education for techies and better access to funding for startups. This event will offer the opportunity to emphasise pros and cons of each of these policy options, hereby contributing to assess what should be the most adequate policy mix in a given environment.

Click here to download the programme.

Host
Karel Lannoo Karel Lannoo
Karel Lannoo

Chief Executive Officer

Speakers list
Peter Kerstens

Head of Financial Technology Taskforce and Adviser on Cybersecurity, DG FISMA, European Commission

Paul Thomalla

Global Head of Corporate Relations and Development, ACI Worldwide

Sébastien de Brouwer

Executive Director, Retail, Legal, Economic & Social Policy, European Banking Federation

David Geale

Director of Policy, Financial Conduct Authority