Artificial Intelligence, tokenization, digital assets, and other financial technologies are quickly becoming prominent in the financial system. These innovations offer large potential upside but could also introduce significant risk. The introduction of fast payment systems in Singapore and India has provided a host of benefits to retail and commercial users for example. This new innovation could enable a seismic evolution in cross-border payments, but many countries require significant investment in technology and infrastructure to make systems interoperable. How can the global financial system most effectively integrate new tools and technologies? How can practitioners and regulators capture their upside while limiting the risk? What governance gaps need to be addressed to ensure that development happens in a way that is global, equitable, and interoperable?
Panelists
- Maha El Dimachki, Head, BIS Innovation Hub Singapore Centre
- Ong-Ang Ai Boon, Director, The Association of Banks in Singapore (ABS)
- Chris Clark, Chairman, Asia Pacific, Visa
- Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore
- William C. Dudley, Chair, BWC; Former President and CEO, Federal Reserve Bank of New York (Moderator)