WSBI Encuentro Internacional de Líderes de Banca Retail
ESPANOL | ENGLISH
EVENTO: Tendencias globales en educación financiera, ciberseguridad y finanzas sostenibles
WSBI Encuentro Internacional de Líderes de Banca Retail
17 MARZO 2023
Regístrese para el evento
Este encuentro reunirá a líderes del sector de la banca retail, así como reguladores y organismos técnicos de avanzada, para un enriquecedor intercambio sobre los temas más apremiantes a nivel mundial y regional.
Encabezado por el presidente del WSBI, Sr. Isidro Fainé (presidente de la Fundación ‘”la Caixa”); y el presidente regional de WSBI para América y el Caribe, el Sr. Diego Prieto Rivera (Presidente del Banco Caja Social, Colombia), esta será una ocasión única para el intercambiar conocimientos, y crear vínculos con los miembros de la directiva del Instituto, representantes de nuestra prestigiosa organización provenientes de todo el mundo, así como con actuales y potenciales miembros de la región Latinoamericana.
Agenda
8.00 – 8.30 AM
Registro
8.30 – 9.00 AM
Mensajes de bienvenida
Peter Simon
Director General WSBI-ESBG
Diego Prieto Rivera
Presidente Regional del WSBI para América y el Caribe y Presidente de Banco Caja Social (Colombia)
09.00 – 10.30 AM
PRIMERA SESIÓN: Historias de éxito en Digitalización y Ciberseguridad
PANEL
Moderador:
Carlos Morales Roviralta, Director de la Oficina de Representación de CaixaBank en Colombia
Panelistas:
-
- Al-Amine Nejjar, CEO de Al Barid Bank y presidente regional del
WSBI para Africa (Marruecos) - Alok Kumar Choudhary, Director general de Operaciones del Banco estatal de India (virtual)
- Fabián Hernández, Presidente CEO de Telefónica Movistar Colombia
- Daniel Madrid Díaz, Responsable global de la práctica de consultoría en riesgo tecnológico y ciberseguridad en Minsait
- Al-Amine Nejjar, CEO de Al Barid Bank y presidente regional del
10.30 – 11.00 AM
Pausa café 
11.00 – 12.30 PM
SEGUNDA SESIÓN : Finanzas sostenibles
Discurso introductorio: Helmut Schleweis, Presidente de la Asociación Alemana de Cajas de
Ahorro (DSGV)
PANEL
Moderador:
José María Méndez, Director General de CECA y CEO de Cecabank (España)
Panelistas:
- Marcela Ponce Pérez
Directora del Programa de Finanzas Climáticas en Latinoamérica y el Caribe International Finance Corporation (IFC) - Mariana Escobar Uribe
Líder del Grupo de Trabajo de Finanzas Sostenibles de la Superintendencia Financiera de Colombia - Eugenio Solla
Chief Sustainability Officer y Miembro del Comité de Dirección de CaixaBank (virtual) - Clemente del Valle
Director del Centro Regional de Finanzas Sostenibles de Uniandes y miembro del sustainable Development Investment Future Council del World Economic Forum
12.30 – 02.00 PM Almuerzo
02.00 – 03.30 PM
TERCERA SESIÓN: La educación financiera como medio para la inclusión financiera
Discurso introductorio: Dominique Goursoulle- Nouhaud, Presidenta de ESBG y de la Fédération Nationale des Caisses d’Epargne (FNCE) (Francia)
PANEL
Moderador: Joan Rosás, Director de Relaciones Institucionales Internacionales CaixaBank
Panelistas
- Faustino Laínez Mejía, Presidente de Banco Atlántida (Honduras)
- Jorge Solís, Presidente de la Federación Peruana de Cajas Municipales de Ahorro y Crédito (FEPCMAC)
- Diego Prieto Rivera, Presidente de Banco Caja Social (Colombia)
03.30 – 04.05 PM
Discurso de clausura
- Isidro Fainé, Presidente del WSBI y presidente de la Fundación “la Caixa”
PROGRAMA SOCIAL
4.40 PM
Transporte hacia el hotel Santa Clara
6.00 PM
Transporte desde los hoteles Santa Clara y Radisson al muelle de La Bodeguita
6.30 PM
Tour de la bahía
7.45 PM
Arribo al restaurant del Club de Pesca
8.00 PM
Cena
Transporte de regreso a los hoteles Santa Clara y Radisson
Sobre Cartagena de Indias
Una de las joyas del Caribe, Cartagena de Indias combina el sabor colonial de su ciudad amurallada protegida por la UNESCO con la modernidad de un destino de primera para convenciones y reuniones de negocios. Todo esto realzado por la hospitalidad y alegría de su gente.
Clima y código de vestimenta
En marzo, típicamente Cartagena de Indias tiene 25°C como temperatura mínima y 32°C como temperatura máxima. En esta ciudad tropical costera, la humedad en el ambiente se mantiene constante a un nivel del 100%.
Se recomienda vestir telas frescas como el lino y el algodón.
WSBI International Retail Banking Leaders Conference
ESPAÑOL | ENGLISH
EVENT: Global trends on financial education, cybersecurity and sustainable finance
WSBI International Retail Banking Leaders Conference
17 MARCH 2023
Register for the event
This Conference will bring together leaders and decision makers from the retail banking sector for an enriching exchange on the most pressing topics at the global and regional levels.
Hosted by the WSBI President, Mr Isidro Fainé (President at ‘La Caixa’ Foundation); and the WSBI Regional President for The America and Caribbean, Mr Diego Prieto (President at Banco Caja Social, Colombia), this will be a unique knowledge exchange and networking occasion. The conference will count with the participation of members of the WSBI Board representing the sector at the global level, and of current and potential members from Latin America.
Program
8.00 – 8.30 AM
Registrations
8.30 – 9.00 AM
Welcome Messages
Peter Simon
WSBI-ESBG Managing Director
Diego Prieto
WSBI, Regional President for America and the Caribbean and President of Banco Caja Social
09.00 – 10.30 AM
PANEL 1: Success stories in Digitization, Big Data and Cybersecurity
Moderator:
Carlos Morales Roviralta, CaixaBank Colombia
Panelists:
-
- Al-Amine Nejjar, CEO of Al Barid Bank and regional president of the WSBI for Africa (Morocco)
- Alok Kumar Choudhary, Managing Director for Retail Business & Operations at State Bank of India (online)
- Daniel Madrid Díaz, Strategic Cybersecurity and Technological Risk Director at Minsait
- Fabián Hernández, President CEO of Telefónica Movistar Colombia
10.30 – 11.00 PM
Coffee Break ☕
11.00 – 12.30 PM
PANEL 2 : Sustainable finance
Keynote
- Helmut Schleweis, President of the German Savings Bank Association (DSVG)
Moderator:
Jose María Méndez, Managing Director at CECA and CEO at Cecabank (Spain)
Panelists:
- Marcela Ponce Pérez, Climate Finance Leader for Latin America and the Caribbean, International Finance Corporation (IFC)
- Mariana Escobar Uribe, Advisor to the Financial Superintendent of Colombia and Head of the Sustainable Finance Hub at Superintendencia Financiera de Colombia
- Eugenio Solla, Chief Sustainability Officer and member of the CaixaBank Management Committee (virtual)
- Clemente del Valle, Member of the Sustainable Development Investment Future council and the Infrastructure 4.0 Community
12.30 – 02.00 PM LUNCH
02.00 – 03.30 PM
PANEL 3: Financial education as a means for financial inclusion
Keynote
Dominique Goursoulle- Nouhaud, President Chairman of the National Federation of Caisses d’Epargne (FNCE).
Panel discussion
Moderator:
Joan Rosás, Head of International Institutional Relations at CaixaBank
Panelists:
- Faustino Laínez Mejía, President of Banco Atlantida (Honduras)
- Jorge Solís, President of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC)
- Diego Prieto Rivera, President of Banco Caja Social (Colombia)
03.30 – 04.05 PM
Closing Speech
- Isidro Fainé, President of the WSBI and President of the La Caixa Foundation
SOCIAL PROGRAMME
4.40 PM
Transportation to the Santa Clara hotel
6.00 PM
Transportation from Santa Clara and Radisson Hotels to La Bodeguita
6.30 PM
Board a catamaran for a tour of the bay.
7.45 PM
Arrival at the Fishing Club Restaurant
8.00 PM
Dinner
About Cartagena de Indias
One of the jewels of the Caribbean, Cartagena de Indias combines the colonial flavour of its UNESCO protected walled city with the modernity of a top destination for conventions and business gatherings. All of this enhanced by the effortless hospitality of its lively people.
Weather and dress code
In March, typically Cartagena de Indias has 25°C as the lowest and 32°C as the highest daily temperatures. This Coastal tropical city, the humidity level is constant at 100%.
Wearing fresh fabrics such as linen and cotton is recommended even for business or formal occasions.
Financial News & Views: December 2022 Edition
WSBI ESBG
admin
WHAT’S INSIDE?
• New year message from WSBI-ESBG Managing Director (Page 2)
• WSBI’s president interview with The Banker (Page 3)
• World Savings Day 2022 (Page 3)
• The internal cards market in Europe from 2002 to 2020 (Page 4)
• A Female approach to financial education (Page 5)
• The very real challenge of cybersecurity and how to face it (Page 5)
• The 28th African Regional Group Meeting in Cape Verde (Page 6)
• ESBG welcomes Deputy Governor of the National Bank of Ukraine (Page 6)
• CMDI framework review: An evolution rather than a revolution (Page 7)
• Scale2Save: What a journey it has been! (Page 8)
More publications
Financial News & Views: September 2022 Edition
WSBI ESBG
admin
WHAT’S INSIDE?
An overview of the banking sector and trends in the Arab region (Page 2)
WSBI-ESBG as platform of exchange among members (Page 3)
Banco Atlántida promotes digital banking in Honduras (Page 3)
Basel III standards in the EU keep banks safe & economy strong (Page 4)
The revolutionary fight against financial crime in Europe (Page 5)
From open banking to open finance (Page 5)
EU wallet: The ecosystem program by nature (Page 6)
An initiative to reach the unreached people in Bangladesh (Page 7)
Conclusions of WSBI’s 6-year programme for financial inclusion (Page 8)
Unbanked adult EU citizens more than halved in the last four years (Page 8)
More publications
Financial News & Views: June 2022 Edition
WSBI ESBG
admin
WHAT’S INSIDE:
Ukraine: ESBG members reaffirm their social responsibility (page 2)
News from Latin America (page 3 & 4)
News from Asia (page 4)
News from Europe (page 5)
EU MiFID 2: If it’s not broken, don’t fix it (page 5)
News from Africa (page 6)
The savings bank idea was always a very modern idea (page 7)
Scale2Save intensifies knowledge sharing and engagement
in Nigeria and Uganda (page 8)
More publications
Developing a proportionate, fair and efficient IRRBB framework in the EU
On 4 April 2022, ESBG responded to the EBA consultation specifying technical aspects of the revised framework capturing interest rate risks for banking book (IRRBB) positions.
Our response stresses that the current framework is too complex and challenging to implement for smaller institutions with non-complex operations and limited market risk exposure. Although we need a sufficiently prudent management of interest rate risk amongst all EU/EEA banks, the framework should also consider the peculiarities of national banking models and the interest risk inherent in national markets.
As regards the definition of large decline for the purpose of the net interest income (NII) supervisory outlier test, the proposed “Option B” referring to a cost related metric seems more aligned with established internal interest rate risk management methodologies. Yet, the removal of the administrative expenses term, which generates volatility and complexity, is pivotal to favouring this option.
Considering the limited ability of the standardised approach to capture adequately the exposure of each entity to IRRBB, any obligation to use it should be conditional on the competent authority having demonstrated that it would be more relevant than the internal model approach (IMA) it would replace.
In the area of credit spread risk arising from non-trading book (CSRBB), the scope of the framework is too extensive as it includes all instruments. On the contrary, credit spreads, which are based on a market perception, should not apply to illiquid and non-market instruments whose value does not change according to these market spreads. The scope should thus be restricted to instruments that have a clear market price transparency andare easily tradable on a large and deep enough market, because only these assets are subject to the market perception. Moreover, a clear definition of the terms “market credit spread” and “market price of credit risk” is needed.
To avoid different interpretations and ensure a level playing field, it should be stated explicitly in the Guidelines, that non-marketable instruments, such as loans to customers, should be generally exempted from CRSBB as they are covered by the bank’s credit risk management framework.
Finally, the new IRRBB standardised methods for the economic value of equity (EVE) and NII seem to be very calculation intensive but, at the same time, less granular than many banks’ internal models. We therefore stress that both banks and supervisors may lose interest rate risk management insights if banks are required to apply them by their national authorities.
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Customer protection
Proposed Solutions and Actions
Simplification of information
Consumer credit is normally partially executed through the granting of a handful of small operations to consumers. Those operations are of limited complexity and – in comparison to mortgage credit – of small amounts, but are, in turn, regulated by considerably complex rules.
As an example of that, the CCD requires creditors to give excessively detailed information to the consumer prior to entering a consumer credit agreement. Nonetheless, consumers ignore information which is too complex or difficult to remember and there is evidence that simpler information with fewer figures is much more effective at landing critical messages. That information may refer to information that only reflects the specifics of the product and meets with client’s expectations for short and clear information – for example – the repayment periods, the amount of the repayment instalments and the applicable interest rate.
Reduction of information
Regarding the pre-contractual information, it is important to focus on diminishing the number of precontractual documents, which banks are obliged to serve to consumers in any case. This approach has not proved itself to be useful for consumers and for that reason the requirements for serving precontractual information and Standard European Consumer Credit Information aren’t helping in achieving the objectives of the Directive. Bearing digitalisation in mind, the required information can barely be presented in a clear and comprehensive way on mobile devices.
A critical look should also be taken at the amount of mandatory information to be included in the credit agreements themselves. From the consumer’s point of view, the agreement should contain only what is necessary, i.e. in addition to the total amount of credit, above all the repayment plan, the default interest rate and information about the typical consequences for the borrower during the performance of the contract (consequences of overdue payments, rights of withdrawal, early repayment conditions).
The reduction of information may be also observed through the role of the right of withdrawal. The right of withdrawal is an instrument for the consumer’s protection and when it is granted to the consumer it should diminish some of the requirements for the service providers, especially in the field of the pre-contractual information that needs to be provided to consumers. If the amount of information is not diminished, there is not a substantial meaning of the right of withdrawal.
Regulate activities rather than institutions
In ESBG’s opinion, gold plating practices in the implementation of the CCD by Member States have limited its effectiveness. The use of innovative technologies has prompted the arrival of new operators to the consumer credit market. Unregulated entities can take advantage of the consumer trust that regulated entities have gained through the years, and even put that trust at risk if they fail to deliver fair and transparent results, increasing regulated entities’ reputational risk. Therefore, a strict implementation of the CCD by all Member States would give consumers better visibility on their level of protection in Europe. In this sense, the CCD should regulate that consumer credit activity should be a reserved activity and should require the application of policies on responsible lending, transparency and customer protection. Any revision to the CCD should be based on the principle “same activity, same rules”.
Creditworthiness assessment requirements should be flexible and preserved for each Member State and each credit institution. There is no need for harmonisation.
In our view an effective creditworthiness assessment can’t be standardised, because of the following nonexhaustive reasons:
- it should be based on the knowledge of the borrower and on the ability to take into account the specificities of his situation, not on a mechanically applied criterion. This knowledge – inherent to the banker’s job – can’t be standardised.
- standardising the assessment of risk profile would block the market without taking into consideration the peculiarities of each Member State.
- it also may lead to a legal risk of not being able to deny credit if the European criteria are met.
- common indicators wouldn’t allow to take into consideration the economic and cultural background: the same indicators will not necessarily mean the same in different countries (e.g.: savings habits, national rates of divorce, cost of education for children).
Identified Concerns
The CCD evaluation has so far looked at the relationship between the needs and problems in society and the objectives of the Directive.
However, more importantly for us is the impact that digitalisation has had on consumer credit. The emergence of a variety of new technologies has commanded the development of the digital transformation in the commercial and corporate aspects of banking. It is easy to observe a significant upward trend in the budget share dedicated to R&D.
However, the CCD did not anticipate that technological disruption, and new digital means have brought a diverse set of innovative distribution channels, and along with them, new communication means, new ways to access credit and the uniformity of credit agreements.
The use of smartphones, tablets, computers, headsets, and other devices, for not only searching products, but also for entering into credit agreements, is a reflection of the reality that has exceeded the expectations considered by the legislators when agreeing the CCD.
In this regard, special attention needs to be paid to the information to be provided to consumers before entering into the credit agreement. In some Member States, particular attention must be paid to the actual conclusion of the credit agreement when using these devices. Art. 10 (1) CCD, in which the text form of credit agreements is standardised as sufficient, should be harmonised to a maximum in the future, in order to enable a digital conclusion. At present, many Member States have adopted stricter rules (e.g. written form), representing a real barrier for the single market. In our view, in order to adjust the already adopted measures to the new digital technologies it is necessary to assess how much detailed information is required and how it can best be provided to consumers.
We have noticed that new market players such as crowdfunding platforms or SMS loan-providers have not yet played such a major role in the area of consumer loans. Nevertheless, we see a tendency for this role to increase in the future and for considerable changes to be expected in consumer loans as well.
Why Policymakers Should Act
We fully support the principles of the CCD, but we believe that it is reasonable to measure the objectives of the Directive having in mind that:
consumers want to receive clear and manageable information in a short time.
- it is important not to overburden the consumers with information.
- its requirements should be suitable for new technology and distribution channels.
- a clear balance should be created between the objectives of the Directive and the rights of the creditors.
Background
The EU Consumer Credit Directive (CCD) is designed to strengthen consumer rights and help potential customers make an informed choice when signing up to a credit agreement. Lenders provide standardised information on the product, allowing clear comparison by the consumer with other products available to them. In addition, lenders provide detailed information on the annual percentage rate of change; including the total cost of the credit.
The EU CCD was finalised in 2008. In 2011, an annex was added to clarify the rules on calculating the Annual Percentage Rate of Charge (APR). Finally, in 2014 a report was published in the Implementation of the directive. In 2019, the European Commission launched a consultation on the evaluation of the CCD, following on from an evaluation and fitness check roadmap. The review – still ongoing – aims to assess the effectiveness, efficiency, coherence, relevance and EU added value of the Consumer Credit Directive.
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Considerations on the BCBS principles for the management & supervision of climate-related financial risks
The Basel Committee on Banking Supervision (BCBS) has published a public consultation on principles for the effective management and supervision of climate-related financial risks. The document forms part of the Committee’s holistic approach to address climate-related financial risks to the global banking system and aims to promote a principles-based approach to improving both banks’ risk management and supervisors’ practices in this area. This new position paper based on our response to the consultation.
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Clear and fair rules for the use of machine learning in Internal Rating Based models
The European Savings and Retail Banking Group (ESBG) welcomes the initiative of the European Banking Authority (EBA) to discuss the implications of the use of machine learning (ML) in the internal rating based (IRB) models for credit risk.
We encourage the EBA to build a clear and fair supervisory scheme that goes further and allows compliance with the proposed principles to be measured, and that finds the balance between the advantages and the new risks that machine learning brings.
