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

13:3015:00

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?

15:0015:15

Coffee break

11:45 - 12:00

15:1516:45

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

16:4517:15

Coffee break

12:45 - 13:00

17:1518:30

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

09:0010:30

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?

10:3011:00

Coffee break

11:45 - 12:00

11:0012:30

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

12:3013:30

Break

12:45 - 13:00

13:3015:00

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

15:0015:30

Coffee break

15:00 - 15:30

15:3017:00

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?

17:0017:15

Coffee break

17:00 - 17:15

17:1518:45

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

09:0010:30

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

10:3010:45

Coffee break

10:45 - 12:00

10:4512:15

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

12:1513:15

Break

12:00 - 12:45

13:1514:45

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

09:0010:30

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?

10:3011:00

Coffee break

10:45 - 12:00

11:0012:30

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

12:3013:00

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?

13:0014:00

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