DIGITALEUROPE Event

DiPP: The future of financial services across Europe: how much digital, how much improved?

04 Jul 2019
8:30-10:00
DIGITALEUROPE Office
14 Rue de la Science
1040 Brussels
(7th Floor)

In finance, the ongoing digital transformation holds myriad opportunities for start-ups, long-established banks and insurance companies alike. They all see electronic ID and trust services as key compliance factors for identification and authentication provisions that underpin recent regulatory updates such as PSD2 or AMLD4; they all realize how a proper mix of regulation and technology can help in this respect.

For instance:

  • “Know Your Customer (KYC)” requirements on banks and financial service providers in the AMLD4 have become easier to meet since notified eID means are recognized and can be used for this purpose across EU borders.
  • Likewise, PSD2 allows non-bank third party providers (TPP) to access bank customer’s account data, paving the way to unprecedented innovation in the payment area: open banking APIs enable access to account information, provide confirmation of funds or transmit permission to initiate a payment.

In either case, strong authentication mechanisms are required both from service providers and from customers. Whether for signing a contract, opening a bank account or changing account information or parameters – “remote signing” as introduced by the eIDAS regulation is a legally recognized and yet easy way of expressing consent.

Having held several debates on the finance dimension of the ongoing digital transformation, we think it is time for an update on how these cascading opportunities have been taken advantage of so far.

    Speakers

    • Eric Ducoulombier

      Head of Unit, Retail Financial Services, DG FISMA, European Commission

    • Edward Corcoran

      Senior Economist, Digital Regulations & Trends, BBVA

    • Benjamin Quatre

      Director, Institutional affairs, Europe & Export Financing, French Banking Federation

    • Kristaps Sikora

      Senior Counsel, Regulatory Affairs, Europe, Mastercard

    Moderator

    • Cecilia Bonefeld-Dahl

      Director-General of DIGITALEUROPE

    This debate will be held under the Chatham House rule. For more information on our Digital in Practice Programme (DiPP) click here.

    FORE MORE INFORMATION PLEASE CONTACT
    Kivanç Akil
    Senior Events and Office Manager
    Patrice Chazerand
    Director for Digital Trade and Taxation
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