FinTech: Innovation in Payments and Settlements
FinTech: Innovation in Payments and Settlements
FinTech: Innovation in Payments and Settlements
The Changing Payments Landscape: Key Risks and Dynamics
13:30 – 15:00
What does FinTech mean for central banks, central banking, currencies and payments?
13:30 - 15:00
- The state of the art of financial technology in 2020
- Key forces, trends and dynamics shaping financial market innovation
- Unavoidable risks, critical challenges and emerging opportunities
- Discussion: how do central banks need to change to make the most of FinTech?
15:00 – 15:15
Coffee break
11:45 - 12:00
15:15 – 16:45
Digital money: a central banker’s guide
15:15 - 16:45
- Taxonomy of digital money: CBDCs, stablecoins and crypto assets
- Overview of key projects around the globe
- Implications for the work of central bankers, regulators and supervisors
- Key features of emerging regulatory and supervisory frameworks
16:45 – 17:15
Coffee break
12:45 - 13:00
17:15 – 18:30
Innovation: understanding the risks of issuance, operations and oversight
17:15 - 18:30
- Overview of financial, operational and regulatory risks of disruptive innovation
- Frameworks for cost-benefit analysis of digital money
- Key lessons learned from leading projects and initiatives
- Discussion: cross-sectoral and cross-jurisdictional efforts: an update
New Developments in CBDCs Oversight and Issuance
09:00 – 10:30
CBDC: the state of the art
09:00 - 10:30
- Differences (and similarities) between CBDCs and crypto assets
- Implications of CBDCs for the banking sector and financial stability broadly
- Monetary policy: how will implementation change?
- Discussion: what are the next steps and key dynamics?
10:30 – 11:00
Coffee break
11:45 - 12:00
11:00 – 12:30
E-Krona case study: understanding the financial stability implications of CBDCs
11:00 - 12:30
- Evolution of the E-Krona project
- Motivation, development and implementation: lessons learned
- Communication: educating markets, players and the public
- Methods, techniques and frameworks for assessing impact
12:30 – 13:30
Break
12:45 - 13:00
13:30 – 15:00
Privately issued crypto assets and stablecoins - an overseer’s guide
13:30 - 15:00
- Key risks (and opportunities) of privately issued crypto assets and stablecoins
- Tips for effectively managing financial stability implications of ‘Bitcoins’ at both local and systemic levels
- Examples of cross-jurisdictional regulatory and supervisory cooperation
- Discussion: CBDCs as an alternative to Bitcoin
15:00 – 15:30
Coffee break
15:00 - 15:30
15:30 – 17:00
Project Jasper: can DLT settle wholesale?
15:30 - 17:00
- Motivations and technological foundations behind the Project Jasper
- Lessons lea rned from key phases of the project
- Overview of the next steps and prospect for the following phases
- Discussion: can a distributed ledger service a core wholesale payment system?
17:00 – 17:15
Coffee break
17:00 - 17:15
17:15 – 18:45
How will big tech, DLT and digital money affect financial market infrastructure?
17:15 - 18:45
- Financial market infrastructure: a guide to the new normal
- Overview of key disruptive forces and dynamics challenging FMIs
- How are FMIs changing to utilise FinTech?
- Discussion: what do these changes mean for central banks as overseers and settlement providers?
FinTech and RegTech: the State of the Art in Oversight
09:00 – 10:30
How to effectively regulate FinTech – a user’s guide
09:00 - 10:30
- Overview of policies and approaches to regulation and supervision of FinTech
- Examples of strategies, frameworks and indicators helping to balance the support for innovation with consumer protection
- Implications for resourcing and institutional organisation of central banks and regulators
- Successes and challenges from delegates’ home jurisdictions
10:30 – 10:45
Coffee break
10:45 - 12:00
10:45 – 12:15
Crossing borders: where FinTech is delivering sustainable solutions
10:45 - 12:15
- Overview of applications of DLT to cross-border payment frameworks
- Key operational risks associated with the new market platforms
- Implications for legal and regulatory frameworks
- Next steps and checkpoints in cross-jurisdiction regulatory and supervisory cooperation and coordination
12:15 – 13:15
Break
12:00 - 12:45
13:15 – 14:45
Nurturing innovation: a case study of sandboxes, incubators and accelerators
13:15 - 14:45
- What do FinTech innovators want?
- Strategies for aligning innovation with legal and regulatory requirements
- Building a network: funding, resourcing and training
- Discussion: how to measure and demonstrate value?
Payment Analytics: Strengthening the Oversight Proposition
09:00 – 10:30
AI and Machine Learning: data management and analysis for AML
09:00 - 10:30
- Overview of financial crime risks in the digital era
- Examples of how to identify patterns, anomalies and risks
- Manual intervention and artificial detection: examples of complementary applications
- Discussion: how to integrate and resource new technologies?
10:30 – 11:00
Coffee break
10:45 - 12:00
11:00 – 12:30
Applying network analytics and agent-based modelling in FMI design and oversight
11:00 - 12:30
- Impact of FinTech on the evolution of FMIs
- Applications of advanced technology in the areas of network analytics and agent-based models for FMI oversight
- Tips for collecting and effectively combining qualitative and quantitative statistics
- Case study: building blocks of the new FMI framework in Canada
12:30 – 13:00
Opportunities, challenges and risk: the future of payments and settlements
12:30 - 13:00
- What opportunities will digital money bring in the next five years?
- Can regulatory frameworks be created that support privately issued crypto assets and stablecoins?
- How can overseers ensure FinTech-derived efficiency in payments and settlements does not override resilience?
- Discussion: what are the five key challenges that central bankers should focus on in 2020?
13:00 – 14:00
Closing remarks and delegate action plans
Concluding session led by the chair
13:00 - 13:30
- Summary of the course
- Discussion of the observed trends and case studies
- Application of learning points in the delegates’ home organisations
- Preparation of action points