Financial Regulatory Outlook Conference 2019 | Oliver Wyman | 26 November 2019 | TBA, Rome, Italy

Open Finance: A Game-Changing Reform

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 will explore 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.

2019 Speakers

Edouard Fernandez-Bollo
Member of the Supervisory Board, European Central Bank

José Manuel Campa
Chairperson, European Banking Authority

Andreas Dombret
Former member of the Executive Board, Deutsche Bundesbank

Pentti Hakkarainen
Member of the Supervisory Board, European Central Bank

Peter Kerstens
Advisor on Technological Innovation and Cybersecurity, European Commission’s Directorate-General

Finja Kütz
Group Transformation Officer & Deputy COO, UniCredit

Rohinton Medhora
President, CIGI

Betrand Peyret
Deputy Secretary General, Autorité de Contrôle Prudentiel et de Résolution

David Robertson
Chair of Applied Logic, Vice Principal and Head of College of Science & Engineering, University of Edinburgh

Carolyn Rogers
Secretary General, Basel Committee for Banking Supervision

Victoria Saporta
Executive Director of Prudential Policy Directorate, Bank of England

Homa Siqqiqui
Managing Director and Head of Digital Transformation & Products Labs, Credit Suisse

Lorenzo Bini Smaghi
Chairman, Société Générale

Ignazio Rocco di Torrepadula
Founder & CEO, Credimi SpA

Arthur Yuen
Deputy Chief Executive, Hong Kong Monetary Authority