On February 27, the Stanhope Hotel in Brussels became a meeting place for the policymaking community and industry experts to discuss the regulatory impact of the innovative uses of technology in financial services.
The event was timed around the work of the European Commission Task Force on Financial Technology, with the anticipation of the Fintech Action Plan being released soon.
This one-day event was hosted by Afore Consulting and was filled with keynote speakers, panelists and a fireside chat, which included B-Hive's Executive Chairman Fabian Vandenreydt.
The one-hour fireside chat specifically focused on the international perspectives of the need for international regulatory and supervisory cooperation in fintech. With fintech applications developing at an ever-increasing pace, this challenges the traditional approach to regulation based on national jurisdictions and enforcement.
The speakers included our aforementioned executive chairman, representing Brussels, as well as experts from the US, Switzerland, Japan, Hong Kong and Singapore, with Richard Nash, Head of Global Government Relations at PayPal, as moderator.
While this session was a great opportunity to talk about B-Hive and the things we're working on in our financial services and fintech communities, it was also a chance to highlight the fact that collaboration across Europe isn’t new - as Fabian explained, competence centers existed decades ago, and what we’re doing today is re-creating those centers, "provided we don’t fragment the market too much."
The industry is starting to see more and more that collaboration is the key to success, and this session really emphasized this fact.
Toward the end of the day, Minister of Finance Johan Van Overtveldt spoke about the opportunities and challenges of fintech for policymaking and regulation. In all, Belgium was well represented as a financial center!
Interested in learning more about our upcoming events?