With accelerating pace, more and more banking services are being performed outside traditional banks. This is driven both by push and pull factors. Two major regulatory reforms in Europe — the second Payment Services Directive (PSD II) and the General Data Protection Regulation (GDPR) — are forcing banks to share their customer data with competitors and put the individual in control of how their data is — and is not — used.
A variety of players from different industry sectors will each capture a slice of the financial value chain: fintech developers, telecoms providers, energy companies, retailers and, of course, the global tech giants. This only adds to the imminent pressure on European banks to cut costs and improve their service offering. And what could be adequate response strategies for established financial players to deal with the disruption ahead? For policymakers, the challenges of technology should not be considered only in a national context – there needs to be a more considered approach on how to regulate cross-border activities on new technological platforms.
During the conference, we explored where different players stand in their journey in adapting business models and data strategies, the new risks to information security and financial integrity, and the many challenges facing supervisors.
For information on the event's speakers, read further here.
Where: Rome, Italy
When: November 26, 2019
Want to know more about our events? Reach out to us here.