​2016 ESBG Retail Banking Conference 


Interactive Audience Poll


​BRUSSELS, 21 Brussels 2016


During the ESBG Retail Banking Conference held on Wednesday, 16 March, in Brussels, 150 banking experts answered to a poll by using voting pads. To set the tone for conference sessions, questions were posed to the audience at the beginning of two panels, titled "Proportionality for Local Banks" and "How regulation needs to catch up with digitisation".

The results to the first four questions (see below) were as expected. Participants' opinion on the last two questions, however, were rather unforeseen. When questioned if regulators were doing enough to ensure a level playing field for all those offering financial services in the digital economy, 74 per cent of respondents answered "no". This means they saw banks being subject to much more stringent regulation than non-banks, and thus suffer unfair competition.

On whether they would accept their bank using digital technologies to exploit their personal data, 22 per cent of bankers and experts in the field said they would not feel comfortable at all with their personal information being used as part of my bank's marketing strategy.

The full set of audience questions and survey results to each (in percentage), are provided below:

 

Panel 2: Proportionality for Local Banks

 

Question 1:

Does a 'one size fits all' approach in regulation allow the banking sector to meet the needs of the real economy?

  1. Yes: regulation should be the same for all banks whatever their size or range of activities - 9%
  2. To some extent: common rules are needed, but with some flexibility to take account of differences -51
  3. No: a much more nuanced approach is required - 40%

 

Question 2:

How could a proportionate approach be applied?

  1. By changing the current rules - 36%
  2. By applying a tiered approach - 59%
  3. No changes should be allowed - 6%

 

Question 3:

Is the regulatory environment having an impact on retail banks' ability to invest in innovation?

  1. Yes: the cost of compliance is draining resources from much-needed investments - 26%
  2. To some extent: retail banks are investing in innovation but the cost of regulation is limiting their capacity to do so - 55%
  3. No: retail banks are investing heavily in innovation anyway - 19%

 

 Panel 3: How Regulation Needs to Catch Up with Digitisation

 

Question 1:

Do you see digitisation as more of a threat or an opportunity for retail banks?

  1. A threat: it poses enormous challenges, and non-banking rivals are gaining ground - 13%
  2. An opportunity: innovation is transforming business models and opening up new ways of serving customers - 40%
  3. Both - it poses challenges and opens up opportunities in equal measure - 46%

 

Question 2:

Are regulators doing enough to ensure a level playing field for all those offering financial services in the digital economy?

  1. Yes: the current regulatory regime is 'fit for purpose - 5%
  2. No: banks are subject to much more stringent regulation than non-banks, and thus suffer unfair competition - 74%
  3. Maybe: if the regulations governing the banking sector are applied in a proportionate way, this will ensure a level playing field - 21%

 

Question 3:

Would you accept your bank using digital technologies to exploit the personal data it holds on you?

  1. Yes: if it leads to a better service, but not for general marketing purposes - 49%
  2. Yes: but only if all data are anonymized - 29%
  3. No: I don't feel comfortable at all with my personal information being used as part of my bank's marketing strategy - 22%