Today the European Commission hosted a fintech conference debating the transformational effect technology is having on financial services and posed the question “Is EU regulation fit for new financial technologies?” The European Commission Vice President Valdis Dombrovskis gave an interesting keynote speech, and there’s a web-stream recording of the event, which i may cover at a later date. I wasn’t at the EU Fintech conference, but was intrigued by the EU focus, speakers and themes and through the following 10 tweets was able to get a a flavour of the event.
1. The EU Fintech Mission:
We want to see a competitive European financial sector that is able to drive innovation globally, alongside the US and Asia #FinTechEU pic.twitter.com/g6D9K2VOgo
— Valdis Dombrovskis (@VDombrovskis) March 23, 2017
2. Let’s get Digital
“Let’s leave the parchment and quills to Harry Potter. We need a digital perspective” @Wim_Mijs #fintech #finreg #FintechEU #DigitalDay17 pic.twitter.com/fOXFqiqdF2 — EBF (@EBFeu) March 23, 2017
3. What Priority Should we give CyberSecurity ?
#MEP @CvNieuwenhuizen says #cybersecurity should be priority 1, 2 and 3 #FinTechEU — EU Finance (@EU_Finance) March 23, 2017
4. How InsurTech is Transforming Insurance
How the #insurtech is transforming the insurance business. #fintecheu @InsurtechEurope @PierreSuhrcke pic.twitter.com/O7EUPE2nu7
— FinTech Ireland (@FinTechIreland) March 23, 2017
5. Debate should be about Innovation
debate shd not be about Fintech, insurtech start-ups or big banks etc. but about innovation says Beatrice Gimenez BBVA #FintechEU #fintech pic.twitter.com/sun95A2Lwe
— Noémie Papp (@NoemiePapp) March 23, 2017
6. SWIFT and CyberSecurity
“Cyber awareness, cyber vigilance & cyber hygiene crucial to reduce risk of attacks”, Gottfried Leibbrandt at #FinTechEU #CyberSecurity — SWIFT (@swiftcommunity) March 23, 2017
7. Blockchain in France
France will be the first country in the world to have regulated #blockchain @EU_Finance @AMF_actu #fintechEU #cryptoeconomy pic.twitter.com/c53i5sd8Ds — Magda Borowik (@magdaborowik) March 23, 2017
8. Collaborate or be Eaten!
Guersent @EU_Finance closing remarks #fintecheu – let’s cooperate further for EU to stay @ the table & not on the menu! Count on @EBFeu ! pic.twitter.com/YvCbjUDSFM
— de Brouwer S (@deBrouwerEBF) March 23, 2017
9. Existing Regulation is not a Hindrance – Hmmmm….?
Existing #EU regulation does not create obstacles to #Fintech #FinTechEU pic.twitter.com/TEvJmOEalj
— Pablo Lahoz EACB (@PabloLeacb) March 23, 2017
10. Regulation in Moderation!
We need the right balance between focusing on risk and supporting #FinTechEU solutions: shouldn't overregulate an industry before it grows
— Valdis Dombrovskis (@VDombrovskis) March 23, 2017