The post financial crisis era is coming with changes in regulation and supervision of financial institutions. International regulatory framework should be calibrated to suit a given market because the “degree of compliance varies”. The “one size fits all” approach should be adopted according to the peculiarities and maturity of different markets, the standards of size, complexity, business model, and cross-border activity of the banks. Unadapted regulation will hinder banks’ role in financing and constrain the potential growth of real economy. How to make sure that regulation can promote the role of financing in real economy? In addition, in recent years regulatory technology, or RegTech, has become a new buzzword in financial services. The intersection of technology and regulation create uncertainty in a number of areas. What do financial services regulators must do different? The panel will address these questions and discuss the future of regulation in financial markets.
In the current state of development, demographic change and digitisation are two driving forces of change. Locally focused banks are no strangers to these forces. Accessibility, usability, affordability and sustainability are still challenges for access to finance even in the digital age. Technology and innovative approaches to finance have dramatically improved these challenges. Another issue is SMEs access to finance as in most cases they rarely have enough collateral. Machine learning and AI, as well as Fintechs, are proving to be great allies in this framework. Digitisation is also helping to address informality and to insert MSMEs into the formal system, whilst providing better security for their assets. Governments are moving towards digital invoicing that can also foster financial and social inclusion. The objective of this panel is to discuss enabling ecosystems for financial inclusion and access to finance in the digitised world and the roles of different stakeholders.
Panel 3: Sustainable Finance – a core engine for economic growthSustainable finance is high on the G20 agenda and advancing fast around the world. Global developments regarding green finance and the fight against climate change have an impact on the local banking business model. Some policy makers call for environmental risks to be included as systemic risk and encourage the financial sector to accelerate energy efficiency investments. There are also discussions on greening global value chains and committing the players involved to observe social and ecological standards. What are the challenges and opportunities that lie ahead of us? How can we leverage public-private partnership to achieve our goals?
Thursday 22 March 2018
| Buenos Aires, Argentina
WSBI Achievements and Perspectives presented by Chris De Noose, WSBI Managing Director
Key messages of the 2018 WSBI G20 Conference “G20 and locally focused banks – good for sustainable societies" impacting the business environment in the LAC region by the GRULAC Presidency
Exchange among members moderated by Diego Prieto, President of the WSBI Latin America and the Caribbean Regional Group and President of Banco Caja Social, Colombia
Conclusions and next steps