Finance Regulation Technology

By Institute of International Finance

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Description

Hear the latest from the IIF’s experts on where the dynamic world of digital innovation in finance intersects with key regulatory and public policy considerations. Specific topics include access to innovative technologies, data sharing and protection, machine learning, cloud computing and cultural change within firms in the digital era.

Episode Date
FRT Episode 125: The Future of Money and Crypto Winter with Doug Elliott
00:39:25

In this episode of FRT, Doug Elliott, Partner and Head of the Oliver Wyman Forum's Future of Money Initiative, discusses trends impacting global economics, the importance of designing CBDCs with a workable business model in mind, and the outlook for Crypto Winter.

Aug 24, 2022
FRT Episode 124: Is the US Entering the Global Landscape of Privacy Legislation?
00:15:16
The global trend of new privacy regulation that is both rushed and expansive is creating challenges for international financial services firms trying to operate amid increasing and fragmented regulation. Liz Roberts, IIF General Counsel, joins us on this episode to discuss the latest draft of the American Data Privacy and Protection Act which has garnered bicameral and bipartisan support and aims to set a federal standard for data privacy. Liz discusses the drivers for this legislation, comparisons with GDPR, the fragmented landscape of regulation, and highlights what businesses and consumers alike should be looking out for before the midterm elections.
Jul 19, 2022
FRT Episode 123: Discussing DeFi with Iota Nassr of the OECD
00:32:15
In this episode of FRT, Iota Nassr, Economist at the Organisation of Economic Co-operation and Development (OECD), discusses decentralized finance (DeFi), why it matters, its institutionalization, and the implications of volatility in the market.
Jul 05, 2022
FRT Episode 122: Considering a Digital Dollar and Digital Euro

In this episode of FRT, Jessica Renier, Managing Director of Digital Finance at the Institute of International Finance discusses the IIF's responses to the Federal Reserve Bank and European Commission consultations on a central bank digital currency. The IIF commends the Fed and EC for taking this step forward in considering this momentous issue.

Jun 21, 2022
FRT Episode 121: The Future of Finance, Web 3, and the Metaverse
00:30:01
In this episode of FRT, Ronit Ghose, Global Head of Banking, Fintech and Digital Assets for Citi Global Insights discusses the future of finance, exploring potential benefits and likely challenges of Decentralized Finance (DeFi), Web 3.0, and the Metaverse.
May 31, 2022
FRT Episode 120: Conduct and Culture Risk Management
00:27:38
Leading supervisors and financial service firms are increasingly considering conduct and culture alongside the more established risk management areas. This episode explores the emerging trends surrounding conduct and culture and analyzes new solutions employing behavioral science and technology to deal with the scale and speed of the challenge.
May 17, 2022
FRT Episode 119: Central Bank Digital Currency with the IMF
00:38:29
In this episode of FRT, Tommaso Mancini-Griffoli, Division Chief in the Monetary and Capital Markets Department, and Gabriel Soderberg, Financial Sector Expert, of the International Monetary Fund (IMF) discuss Central Bank Digital Currency (CBDC), including design choices and interoperability, risks and opportunities in implementation, and how the IMF is working with countries as they explore CBDCs.
May 03, 2022
FRT Episode 118: DeFi and Disclosure: Rethinking Compliance with NFTs and DAOs
00:27:13
DeFi (Decentralized Finance) and blockchain technology are driving innovation in products and services including NFTs (Non Fungible Tokens), DAOs (Decentralized Autonomous Organizations), and DID (Decentralized Identifiers). They are also attracting regulatory scrutiny as the sector grows, risks become clearer, and these new kinds of organizations struggle to comply with existing regulatory frameworks. Chris Brummer has considered this situation and sees an opportunity to reimagine disclosure systems that are programable and leverage this new tech for modern compliance.
Apr 05, 2022
FRT Episode 117: U.S. Executive Order on Ensuring Responsible Development of Digital Assets
00:35:37
In this episode of FRT, Carole House, Director of Cybersecurity and Secure Digital Innovation at the White House National Security Council, and Christopher Giancarlo, former Chairman of the U.S. Commodities Futures Trading Commission and founder of the Digital Dollar Foundation, discuss the Biden Administration’s Executive Order on Ensuring Responsible Development of Digital Assets. They share observations regarding the comprehensiveness of the Order, the range of agencies involved, and developments in digital asset regulation globally.
Mar 22, 2022
FRT Episode 116: Can Cryptocurrency be Used to Evade Sanctions?
00:27:38
In this episode of FRT, Caroline Malcolm, Head of International Public Policy and Research for blockchain analytics firm Chainalysis, answers questions regarding cryptocurrency’s potential for use in sanctions evasion and humanitarian relief. Amid Russia’s invasion of Ukraine prompting rapid and unprecedented actions from the international community, Caroline provides in-depth explanations of how blockchain analytics tools trace transactions and expose trends in user behavior. We conclude that cryptocurrency, in this case, is not an effective tool for sanctions evasion at scale.
Mar 08, 2022
FRT Episode 115: Principles for Digital Trust Networks
00:37:30
In this episode of FRT, we hear from Greg Wolfond, Chair and CEO at the fintech SecureKey Technologies, Toronto; and Angus McFadyen, Partner at the law firm Pinsent Masons, London. Greg and Angus were among a team of experts and IIF members who developed and finalized the Principles for Digital Trust Networks as part of the Open Digital Trust Initiative of the IIF and the Open ID Foundation. Digital trust networks will be key to reducing fraud and delivering high levels of trust in e-commerce and digital finance. Greg and Angus share practical perspectives from their projects in the digital trust space and reflect on some of the key principles embedded in the document.
Feb 22, 2022
FRT Episode 114: Digitizing Finance for Women’s Empowerment
00:38:03
In this episode of FRT, we hear from Andy Woolnough, Executive VP of Global Advocacy, and Sonja Kelly, Director of Research and Advocacy, from Women’s World Banking, discussing digital solutions for financial inclusion and innovation. Focused on enabling women’s financial stability and resilience, Women’s World Banking pursues research and programs that enable not only women’s financial goals, but ultimately support SMEs, reduce gender inequality gaps, and promote economic growth.
Feb 08, 2022
FRT Episode 113: Digital Finance with Jessica Renier
00:22:23
We start off a new year of podcasts with the IIF’s new Managing Director for Digital Finance, Jessica Renier.  Jessica shares her views on developments in digital finance, how she came to focus on this work, and discusses some of the key issues that will drive debate in 2022. 
Jan 25, 2022
FRT Episode 112: Trends in Adoption and Regulation of Cloud in Asia-Pacific Region
00:28:38

Chester Chua, Head of Government Affairs & Public Policy at Google Cloud, joins us on this episode of FRT to share key findings from two studies commissioned by Google Cloud on the regulation and adoption of cloud in financial services.

Dec 14, 2021
FRT Episode 111: Open Banking: Implications in a World of Big Data
00:37:45
Linda Jeng, Georgetown University, and Andres Wolberg-Stok, Citi, join us on this episode of FRT to discuss Linda’s recently published book, “Open Banking”, which features chapters written by Andres and the IIF’s Brad Carr. A multifaceted and interdisciplinary topic, the book covers aspects from economics of data to consumer rights and decentralized finance as they relate to open banking. Andres and Brad discuss their chapters and elaborate on the ever-evolving topic of open banking, discussing its origins, mapping its growth into open data, and emphasizing policymakers and regulators’ impact on the competition landscape.
Nov 30, 2021
FRT Episode 110: Annual Download with FinTech Beat
00:31:01
FRT continues its 3-year tradition, partnering with Professor Chris Brummer on CQ Roll Call’s FinTech Beat podcast as we discuss key themes and developments from the recent IIF, IMF, World Bank, and DC Fintech Week conferences.
Nov 19, 2021
FRT Episode 109: Digital Identity: The Global Assured Identity Network (GAIN)
01:01:14
Gail Hodges, Executive Director of the OpenID Foundation, and Elizabeth Garber, VP of Digital Products at Santander, share their insights on digital identity following the recent publication of the GAIN Paper, an outgrowth from the IIF and OpenID Foundation’s Open Digital Trust initiative. GAIN outlines how an open network can encourage different participants to come together creating an ecosystem with interoperable solutions using common standards. The paper gathered over 150 signatories from an extensive and diverse group of digital identity experts and advocates interested in advancing this vision.
Oct 26, 2021
FRT Episode 108: Mobile Money in Sub-Saharan Africa
00:58:38
The dramatic growth of Mobile Money in Sub-Saharan African markets presents some interesting learnings for bank strategies and partnerships with FinTech firms, and with some fascinating scenarios ahead as app-based payment platforms enter the market.
Sep 30, 2021
FRT Episode 107: Banking Transformation & African Digital Growth
00:30:57
Mindset shift for digital transformation and supporting the next wave of African entrepreneurs and their tech driven innovations are the topics for this episode. 
Sep 14, 2021
FRT Episode 106: Big Techs, Finance & Regulation
00:48:00
This episode dives into the landscape of bigtech platforms, their market advantages in a data driven economy, and the regulatory response in China, UK, EU and the US with new privacy, data regulation and competition moves.    
Aug 31, 2021
FRT Episode 105: Spotlight on Inclusion
Having been spotlighted in the IIF’s new series on inclusion, Amin Khairy from CIB Egypt and Chad Harper from the Visa Economic Empowerment Institute join us on FRT to discuss their work in promoting inclusion through digitalization, with Amin’s work focusing on reaching the unbanked through device-driven banking, and Chad discussing VEEI’s latest research report on global digital remittances. Chad and Amin discuss the need for end-to-end digital enablement, the gender disparity in inclusion efforts, and the importance of public-private partnership, among other topics in this episode of FRT.  
Aug 17, 2021
FRT Episode 104: Ethical Handling of Customer Data and the IIF Data Ethics Charter
NAB’s Jade Haar and UnionBank of the Philippines’s David Hardoon discuss key areas of focus for the ethical handling of customer data, including the importance of a governance framework, data control, challenges around algorithmic decision-making systems, and the importance of knowledge sharing and training. One of the key focal areas of the discussion was the IIF recently published Data Ethics Charter, which outlined a set of principles around the use of customer data, and included insights from Chief Data Officers and experts within our membership.  
Aug 05, 2021
FRT Episode 103: Explainable AI and the US Request for Information
00:41:34
Wells Fargo’s Agus Sudjianto discusses approaches for ‘Explainability’, one of the key focal areas of the US agencies’ recent Request for Information on Artificial Intelligence and Machine Learning.  
Jul 26, 2021
FRT Episode 102: U.S. Executive Order on Competition
00:33:30

President Biden signed his new Executive Order on ‘Promoting Competition in the American Economy’ on July 9. A particularly wide-ranging and comprehensive Order, it includes 72 initiatives and recommendations for actions by 12 agencies, with key focus areas in technology and financial services, in addition to others in healthcare, agriculture, transport and more.

We discuss some of the potential ramifications, including the focus on technology platform business models and data accumulation, a portent to Open Banking, and the requirement for the US Treasury to report on how the activities of big technology companies and non-banks affect competition in finance within the next nine months. We also discuss the political dynamics of the Executive Order and the process ahead, and how the focus on technology firms compares to initiatives in Europe and China.

Jul 15, 2021
FRT Episode 101: Innovation & Transformation in Risk
00:43:18
Scotiabank CRO Daniel Moore, FRT’s first guest, returns to discuss how data and innovation are supporting transformation of the Risk function, and some ground-breaking applications of Machine Learning technology to support customers, promote inclusion, and combat human trafficking.
Jul 08, 2021
FRT Episode 100: IIF Chairman Axel Weber
00:34:55
Axel Weber, Chairman of the IIF and UBS Group AG, discusses the future of the financial services industry, amidst digitalization, changes in cost economics, the rise of tech platforms, and a growing need for cross-border coordination in data and tech policies.
Jun 29, 2021
FRT 99: Cross-border Payments and Global Stablecoin Arrangements
00:32:56
We speak with Dr. Eva Hüpkes, Head of Regulatory and Supervisory Policies and Alex Stervinou, Member of Secretariat, both at the Financial Stability Board, Basel. Eva and Alex unpack the FSB consultation on targets for enhancing cross-border payments, and progress on regulation, supervision and oversight of global stablecoin arrangements, such as Facebook’s Diem project.
Jun 17, 2021
FRT Episode 98: The Platformization of Finance
00:52:57
Prof. Doug Arner of Hong Kong University discusses the experiences with China’s FinTech platforms, and some of the key learnings for policymakers and incumbent financial firms across the rest of the world.
Jun 10, 2021
FRT Episode 97: The Future of Money - Digital Currency 2.0
New developments in CBDC, what they mean for market participants, forecast of format wars, and the need for interoperability are the topics of the day as we speak with Ronit Ghose, Global Head of Banks and Co-Head of Global FinTech at Citi Research who is the author of a new report “Future of Money: Crypto, CBDCs and 21st Century Cash”.
Jun 02, 2021
FRT Episode 96: Connectivity and Customer Centricity: Highlights from IIF Asia Summit
FRT captures highlights from the 2021 IIF Asia Summit, with C-suite executives and central bank governors discussing the big strategic issues, including international digital co-operation and support for SME businesses in transitioning in an eCommerce economy.
May 26, 2021
FRT Episode 95: Machine Learning Trends & Developments
00:40:22
Shameek Kundu surveys the landscape of Artificial Intelligence and Machine Learning across the financial services sector, observing the industry’s maturity with the technology, how the ecosystem of players is evolving, and the role played by regulators.
May 18, 2021
FRT Episode 94: BankID and the Future of Identity
00:32:03
Norway’s BankID has been a leader in the use of secure bank credentials for accessing commercial and government services online. Vipps International’s Katinka Jussie Brurberg and Jessica Broström share the successes of this initiative, and the growing interest in --and opportunities for --applying this approach around the world.
May 11, 2021
FRT Episode 93: The Impact of COVID-19 on Machine Learning & Data Science in UK Banking
00:38:30
Bank of England’s Oliver Thew and Mohammed Gharbawi join us on FRT to discuss their recent Bank article on the impact of COVID-19 on the use of machine learning and data science in UK banking, and more widely key challenges around the use of AI and ML in finance.
May 04, 2021
FRT Episode 92: Realizing the Digital Promise – Transformation in an Expanding Ecosystem
Lead authors share the primary insights of the report, distilled from more than 150 interviews with public and private sector leaders, and the implications for the future of finance.
Apr 27, 2021
FRT Episode 91: Innovation & Supervision, with EBA’s Piers Haben

FRT Episode 91: Innovation & Supervision, with EBA’s Piers Haben We discuss the adaptability of banks and supervisors alike, both through the pandemic and in an environment of We discuss the adaptability of banks and supervisors alike, through the pandemic and in an environment of accelerated digitalization for future business conditions, with EBA Director Piers Haben.

Apr 13, 2021
FRT Episode 90: Digitalization in the Middle East
00:41:43
National digitalization strategies and proactive policies have played an important role in supporting digital transformation in the Middle East, both in financial services and across the wider economy. First Abu Dhabi Bank CTO Yuri Misnik and Banque Misr Trade and Working Capital expert Amr Atteya Ahmed join us to discuss specific examples in the UAE and Egypt.  
Mar 30, 2021
FRT Episode 89: Advanced Analytics to Mitigate COVID Spread with Banco de Credito BCP
00:38:59
BCP’s Juan Taboada, Diego Escobar and Luisa Quispe join us on FRT to discuss their use of data and advanced analytics capabilities to reduce the spread of COVID amongst BCP’s employees across Peru.
Mar 22, 2021
FRT Episode 88: CBDCs with Nordea’s Johanna Lybeck Lilja
Nordea’s Johanna Lybeck Lilja discusses emerging developments in Central Bank Digital Currencies, where Sweden’s pioneering eKrona initiative highlights some of the key design considerations for other central banks and financial systems around the world.  
Mar 08, 2021
FRT Episode 87: Digital Identity with SecureKey CEO Greg Wolfond
00:23:34

Digital Identity with SecureKey CEO Greg Wolfond

SecureKey CEO Greg Wolfond highlights developments in Digital Identity, and how banks feature in national cross-sectoral initiatives for secure identity services in Canada

Mar 01, 2021
FRT Episode 86: DBS’s PURE Framework for Data Ethics
00:33:04
DBS’s Chee Kin Lam, Jeffery Lee, and Sameer Gupta join us on FRT to discuss data ethics, DBS Bank’s PURE (Purpose, Unsurprising, Respectful, and Explainable) Framework, and how this operationalizes and extends beyond Singapore’s high-level FEAT (Fairness, Ethics, Accountability and Transparency) principles.
Feb 23, 2021
FRT Episode 85: FinTech & Payments with Visa’s Terry Angelos
00:36:48
We discuss new initiatives to provide cross-border connectivity for domestic payments innovations, and ways to improve how financial institutions onboard their FinTech partners, with Terry Angelos, Global Head of FinTech at Visa.
Feb 04, 2021
FRT Episode 84: Machine Learning Governance
00:25:59
Rachel Bailey, a senior manager specializing in machine learning in model risk and validation at Lloyds Banking Group, joins us on FRT to discuss key findings from our recent Machine Learning Governance study.
Jan 13, 2021
FRT Episode 83: Preparing for Quantum Computing
00:23:53

Recent developments have brought Quantum Computing out of the lab and into application testing. We discuss the key implications for financial services with experts Denise Ruffner (IonQ), Marko Milek (State Street) and Rudy Raymond (IBM).

Dec 16, 2020
FRT Episode 82: The Platform Economy
00:43:09
As the ‘Platformization’ of finance gathers pace, KPMG Global Co-Head of FinTech Anton Ruddenklau talks us through developments in partnerships, the necessary mindset shifts, cross-industry convergence, and the emerging FinTech trends to look for in 2021.
Dec 09, 2020
FRT Episode 81: Social Media Security, Surveillance and Ethics
00:25:37
Catherine Parry, Founder and CEO of DeepView, outlines the key trends in social media security and online surveillance technologies that have emerged through the COVID ‘Work from home’ era.
Dec 02, 2020
FRT Episode 80: Annual Download with FinTech Beat
00:35:26

Episode Notes

FRT once again joins forces with CQ Roll Call’s FinTech Beat podcast, as we exchange our key takeaways from across the IIF Annual Membership Meeting, the IMF & World Bank annual meetings, and DC FinTech Week, with FinTech Beat host, Professor Chris Brummer of Georgetown University.

Nov 12, 2020
FRT Episode 79 : Sandboxes - Innovating for Inclusion
00:42:08
Ivo Jenik of the World Bank’s Consultative Group to Assist the Poor (CGAP) discusses the opportunities and critical dependencies for digitalization to support greater financial inclusion, and key learnings for the application of regulatory sandboxes.
Nov 05, 2020
FRT Episode 78: Identity, Inclusion & Interoperability
00:33:10
With the criticality of Digital Identity underlined by the pandemic and recent economic shifts, we discuss the opportunities to support SMEs in the digital economy and promote financial inclusion, and the importance of enabling interoperability.
Oct 21, 2020
FRT Episode 77: Open Banking and Beyond
00:25:55
Looking beyond ‘Open Banking’, we discuss multi-sectoral Australia’s Consumer Data Right (CDR) with Dr Liming Zhu of the national science agency CSIRO, looking at the potential extension of open data principles to other consumer sectors.
Oct 01, 2020
FRT Episode 76: The Digital Economy: What’s Next?
00:41:49
The economy has been adapting and digitalizing rapidly in response to COVID-19, both in financial services and beyond. IIF economists and digital finance experts look forward at what this means not only in financial services, but also for SMEs to keep pace with tech firms in a competitive eCommerce environment.
Sep 18, 2020
FRT Episode 75: The COVID Catalyst
00:31:37
Where COVID-19 has forced radical changes, it has also removed many of the barriers that have plagued previous digital transformation effort. The IIF and Deloitte explore this as part of our Realizing the Digital Promise series, with industry experts Ulku Rowe (Google Cloud), Jaco Grobler (First Rand Bank), and Andres Wolberg-Stok (Citi).
Aug 20, 2020
FRT Episode 74: FinTech, BigTech & Regulation
00:30:34
BBVA’s Head of Digital Regulation and Trends (and former IIF secondee) Pablo Urbiola returns to FRT, discussing how the competitive landscape in financial services has evolved with digitalization, and where policymakers need to keep pace with ongoing developments.
Aug 06, 2020
FRT Episode 73: The Open Digital Trust Initiative
00:30:38
With COVID-19 ushering the increased digitalization of the economy and placing an increased emphasis on Digital Identity, Rod Boothby (Global Head of Identity at Santander) and Don Thibeau (Executive Director of the OpenID Foundation) visit FRT to discuss an important initiative for enabling online trust.
Jul 29, 2020
FRT Episode 72: Embracing the Islamic Banking Digital Evolution
00:21:01
Meeting customer preferences is at the center of both the digital transformation of finance and Islamic banking. In this episode, Bassel Gamal, Qatar Islamic Bank’s Group CEO, shares his experience with these two innovation journeys and how they intersect.
Jul 15, 2020
FRT Episode 71: Managing Risk and Using Data Ethically
00:35:09
Deem Finance CRO Torsten Kleine Buening joins us to discuss the ethical use of data and preserving customer trust, and the implications of the COVID experience for technologies such as digital identity and machine learning.
Jul 06, 2020
FRT Episode 70: Realizing the Digital Promise - Key Enablers for Digital Transformation in Financial Services
00:23:21
Deloitte’s Puneet Kakar joins fellow co-authors Conan French and Dennis Ferenzy from the IIF to discuss insights from the latest installment in our joint series on digital transformation.
Jun 24, 2020
FRT Episode 69: ISDA Common Domain Model
00:28:58
ISDA’s Tara Kruse and Ian Sloyan visit FRT to highlight their Common Domain Model initiative for harmonizing trade processing and improving compliance.
Jun 15, 2020
FRT Episode 68: The Libra Refresh and Digital Currency Developments
00:31:47
John Collins of FS Vector joins FRT to discuss the Libra White Paper 2.0 and key updates in the initiative, against the backdrop of various developments with central bank digital currencies (CBDCs).
May 19, 2020
FRT Episode 67: Managing Risk through Pandemics and Transformation
00:34:35
Peter Deans outlines the ’52 Risks’ framework that he has developed from his extensive career as a Chief Risk Officer, and relates this to the scenarios of a pandemic and digital transformation. He emphasizes the importance of avoiding quantification biases, and ensuring operations are versatile.
May 06, 2020
FRT Episode 66: COVID-19 and Data Policy
00:33:23
David Hardoon describes the key emerging issues in data policy that have been highlighted by the COVID-19 experience, including the value assigned to privacy, connectivity across borders, and the unintended consequences of some previous policy settings.
Apr 28, 2020
FRT Episode 65: ABA innovations for smaller US banks
00:25:32
Rob Morgan visits FRT to share how the American Bankers Association (ABA) initiatives are helping smaller US banks access business innovations.
Apr 20, 2020
FRT Episode 64: Trade, Technology and COVID with Kati Suominen
00:44:16
Kati Suominen returns to FRT, discussing how the COVID-19 experience will accelerate technology adoption and overhaul trade patterns.
Apr 09, 2020
FRT Episode 63: Doing Digital with Chris Skinner
00:33:19

Acclaimed author Chris Skinner visits on FRT to discuss his latest book, Doing Digital, profiling the digitalization efforts, challenges and success stories of JP Morgan, BBVA, ING, DBS & China Merchants Bank.

Apr 01, 2020
FRT Episode 62: Digital Identity - The Business Opportunity
00:20:18
Insights from the third installment of the IIF’s series on Digital Identity, exploring the positive impact creating business opportunities in the financial service industry.
Mar 18, 2020
FRT Episode 61: Look Ahead at the G20 Digital Agenda and COVID-19 Impacts
00:18:41
The G20 put payments, regtech, and bigtech in finance on the spring action plan for the FSB with data policy and the future of money forming the context. Meanwhile, impacts of the novel coronavirus seized attention as the official sector readied response plans.
Mar 09, 2020
FRT Episode 60: Realizing the Digital Promise – Part 1
00:18:47
The first report in our new IIF-Deloitte series Realizing the Digital Promise explores the key internal and external challenges that financial institutions face in their digital transformation journeys.
Feb 26, 2020
FRT Episode 59: Davos Download
00:25:15
Standard Bank CEO Sim Tshabalala and Refinitiv’s Sherry Madera join us in Davos to share their key highlights from the World Economic Forum, across climate, data, combatting financial crime, and how societies adapt with the pace of change.
Feb 06, 2020
FRT Episode 58: Standard Life Aberdeen Chairman Douglas Flint
00:20:55
Standard Life Aberdeen Chairman Douglas Flint discusses the opportunities in digital identity and combatting financial crime, as well as ensuring that banks and insurers can preserve customer trust in the way they handle data.
Jan 30, 2020
FRT Episode 57: Basel Committee Open Banking Report
00:28:02
We discuss the recent Basel Committee report on Open Banking and APIs with lead author Linda Jeng.
Jan 16, 2020
FRT Episode 56: InsureTech with Allianz CRO Tom Wilson
00:21:08
Allianz CRO Tom Wilson shares his insights on the transformation of the insurance business model, including through the growth of InsurTech solutions (with Mary Frances Monroe).
Dec 30, 2019
FRT Episode 55: RiskMinds Headline Themes
00:19:54
Climate risk, the Ethical use of data, and digital transformation were the dominant themes of the annual RiskMinds conference, as leading CROs Jaco Grobler and Peter Deans join us to discuss.
Dec 18, 2019
FRT Episode 54: Singapore Fintech Festival
00:16:29
Conan French speaks with Sopnendu Mohanty, Chief FinTech Officer at the Monetary Authority of Singapore, about key themes from this year’s festival and intersections with the IIF digital finance topics. More than 60,000 attendees from 130 countries participated in this year’s event to explore new technologies and the future of finance with data, APIX, digital transformation, and Central Bank Digital Currencies (CBDC) on the agenda. 
Dec 10, 2019
FRT Episode 53: Chris Giancarlo and the Digital Dollar
00:27:44
Former CFTC Chairman Chris Giancarlo joins us at the Singapore FinTech Festival to discuss his proposal for a Digital Dollar with the IIF’s Brad Carr and Conan French.
Nov 19, 2019
FRT Episode 52: Future of Finance
00:25:03

The Bank of England’s wide-ranging Future of Finance report provides a forward-looking view across topics such as the emergence of a “cash-lite” economy, data standards, artificial intelligence, cloud, digital identity, demographic changes, and the transition to a low carbon economy. Lead author Huw van Steenis (formerly Special Adviser to Governor Mark Carney, and now Senior Advisor to the CEO at UBS) discusses the report’s key findings, and the implications for policy settings and modernizing regulation.

Recorded during the IIF Annual Membership Meeting (where he also presented a special briefing on the report), Huw highlights the emerging trends in payments and the longer-term implications for competition and discusses the barriers to cloud adoption and the opportunities presented by RegTech and SupTech initiatives. He also considers the outlook for central bank digital currencies, and where that activity has been galvanized in recent months by Facebook’s Libra initiative.

Nov 13, 2019
FRT Episode 51: Fintech Beat with Chris Brummer
00:34:14

FRT joins forces with CQ RollCall’s Fintech Beat podcast. Fintech Beat Host, Professor Chris Brummer of Georgetown University, and FRT's own, Brad Carr of IIF, share their key takeaways across IIF's Annual Membership Meeting, the IMF & World Bank annual meetings, and DC's FinTech Week.

Nov 05, 2019
FRT Episode 50: FDIC Chair Jelena McWilliams
00:22:06
FDIC Chair Jelena McWilliams joins IIF CEO Tim Adams and Brad Carr to discuss the roles for banks and supervisors in enabling innovative solutions for customers and promoting greater financial inclusion.
Oct 24, 2019
FRT Episode 49: Previewing the IIF Annual Membership Meeting
00:17:29
We preview the exciting speakers and panel discussions that will feature in the IIF Annual Membership Meeting, to be held in Washington DC on October 16-19.
Oct 14, 2019
FRT Episode 48: Cloud and Critical Infrastructure
00:22:05
IIF authors Brad Carr and Daniel Pujazon debrief our recent paper on Cloud Service Providers, and some of the potential regulatory treatments for the increasingly critical role they play in the financial system.
Sep 27, 2019
FRT Episode 47: Quantum Computing
00:22:38
Michael Brett (Rigetti Computing) returns to FRT, discussing the opportunities for quantum computing in financial services, market landscape for the technology, first-mover advantages, and the alignment with banks’ Cloud strategies (with Brad Carr and Conan French).
Sep 04, 2019
FRT Episode 46: New IIF Machine Learning Report
00:18:46
With the IIF Machine Learning in Credit Risk 2nd Edition Report tracking the industry’s progress with these technologies over the past year, leading contributor Paul Edwards (Scotiabank) joins IIF report authors Brad Carr and Natalia Bailey to discuss the survey’s key findings
Aug 26, 2019
FRT Episode 45: TechSprint Takeaways With Jo Ann Barefoot
00:26:07
Jo Ann and the IIF’s Adrien Delle-Case give us their readout of the 2019 Global AML and Financial Crime Tech Sprint.
Aug 09, 2019
FRT Episode 43: Libra and Beyond
00:28:52
Following his testimony at the US Congressional hearings on Facebook’s proposed Libra digital currency, Professor Chris Brummer joins FRT to discuss the top takeaways and the potential implications for other initiatives in the digital currency landscape (with Brad Carr & Conan French)
Jul 22, 2019
FRT Episode 42: Riksbank Governor Stefan Ingves
00:32:32
Riksbank Governor Stefan Ingves discusses Sweden’s “cashless” economy, the potential eKrona digital currency, and the importance of staying the course in regulatory developments (with Brad Carr).
Jul 08, 2019
FRT Episode 41: IIF Machine Learning Roundtable
00:23:45
The IIF 2nd Machine Learning Roundtable was held in Frankfurt on June 19 hosted by Commerzbank, and speakers Kerem Tomak (Commerzbank), and Farhaad Amod (Nedbank) join us to share their top takeaways (with Brad Carr, Natalia Bailey, and Adrien Delle Case).
Jul 02, 2019
FRT Episode 40: SEB CEO Johan Torgeby
00:16:56
FRT visits SEB CEO Johan Torgeby in Stockholm, to discuss Open Banking, Artificial Intelligence, advising new high-tech clients, and the emergence of Sweden’s cashless economy (with Brad Carr).
Jun 21, 2019
FRT Episode 39: S&P CEO Doug Peterson
00:14:58
S&P CEO Doug Peterson joins us during the IIF Spring Membership Meeting & G20 conference in Tokyo. Expanding on some of the remarks he gave during the conference’s ‘C-Suite: Future of Finance’ panel, Doug discusses investments in innovative technologies, environmental management tools, and the necessary evolution of pension systems. Doug touches on innovation across payments and other industrial sectors in Japan, and elaborates on the investments that S&P have been making in machine learning and visualization and delivery tools. He also emphasizes the increased demand for data and analytics, including in the area of ESG, with an emerging emphasis on plastics. Doug also highlights the criticality of an institutional investment framework for economies, as well as the role for technology in helping to reduce investment costs.
Jun 17, 2019
FRT Episode 38: Debunking Misconceptions on Machine Learning Interpretability
00:27:42
FRT welcomes Dr. Bill Kahn, leading data scientist and financial modeling executive, formerly at Bank of America where he led the IIF Machine Learning Working Group throughout the last year. Bill joins us to discuss Machine Learning, demystifying key misconceptions in terms of its risks, as well as discussing the special complexity of interpretability. Bill also spoke on this topic at our recent IIF Digital Finance Symposium, the top takeaways of which were summarized on FRT Episode 37. Bill relates that while at times some of the technical details, like overfitting, heterogeneity, and independence can matter, generally those are not the big mistakes. Rather he equates the big mistakes in machine learning as fundamentally the same as the big mistakes of all multiple regression. Bill discusses overfitting and heterogeneity, before delving into the topic of interpretability, where he differentiates between “what a model is doing” versus “how is the model doing it”. The discussion also includes a view of the special concerns related to the use of machine learning. Previous FRT episodes can be found here, You can also now find FRT on iTunes or Apple Podcast, Google Play, Spotify, as well as continuing to be available on SoundCloud and the IIF website. Looking ahead, we will debrief the IIF Roundtable on Machine Learning in the Financial Industry, as well as discussing the emergence of Sweden’s ‘Cashless economy’ with SEB CEO Johan Torgeby.
Jun 11, 2019
FRT Episode 37: IIF Digital Finance Symposium
00:17:32
The IIF 2nd Digital Finance Symposium was held in Washington on May 29, and speakers Annelie Schnaar-Campbell (Standard Bank), Gene DiMira (ManuLife) and Michael Brett (QxBranch) join us to share their top takeaways (with Brad Carr).
Jun 05, 2019
FRT Episode 36: Open Banking, Fiduciary Duty & Liquidity
00:15:00
FRT welcomes Mark Zelmer, former Deputy Superintendent at Canadian regulator OSFI and author of the recent UK government report on Co-operative bank. Mark joins us to discuss Canada’s upcoming adoption of Open Banking, and some of the potential impacts in fiduciary duties and for banks’ liquidity. Mark relates Open Banking against the backdrop of consumer expectations in terms of deposit insurance schemes, and how this may impact banks, intermediaries and consumers alike. He also discusses the potential rethinking of LCR and NSFR assumptions, and the application of liquidity buffers amid new markets impacts on banks’ traditional funding bases. Mark also discusses the recent finalization of the Basel III standards, the current context of a low-interest rate environment, the evolution of bank strategies, and the challenges with data literacy throughout society.
May 29, 2019
FRT Episode 35: Machine Learning in AML
00:21:25
Sarah Runge, Global Head of Financial Crime Compliance Regulatory Strategy for Credit Suisse, joins us on this week’s episode of FRT to discuss the benefits and challenges of applying Machine Learning in Anti-Money Laundering and Countering Terrorism Financing (AML/CTF). Sarah highlights the potential that enhanced analytics hold to strengthen the defense mechanisms against financial crime. Today’s framework and practices lead to inefficiencies that can make one lose sight of the bigger picture. However, we also explore how technology cannot (and should not) replace the human element and vigilance in a financial institution’s safeguarding measures. It should be seen as a way to empower analysts and focus their resources on the cases that need their attention the most. We also dive into the challenges institutions face when seeking to implement these techniques. The first is data integration challenges in legacy systems, especially for firms operating in a global environment, which are key to any successful initiative on financial crime prevention. The main challenge for global financial institutions, however, is that of data sharing. Varying rules across jurisdictions can lead to significant risks for the firm and the integrity of the financial system. Lastly, we also discuss how the implementation and execution of the global framework can be an opportunity to tackle these issues. We thank Sarah for agreeing to join us and share her expertise on this important topic, which has been one of the focus areas of the IIF’s work
May 21, 2019
FRT Episode 34: Consumer Data Rights
00:14:44
Douglas Elliot, Partner at Oliver Wyman in the Finance & Risk/Public Policy practice, joins FRT to discuss the policy debate around privacy and consumer data rights, and the specific challenges for the financial sector. He was one of the lead discussants at the IIF Roundtable on the New Data Ecosystem in Paris last March, where he presented his work with the World Economic Forum on "Appropriate Use of Consumer Data in Financial Services". Douglas believes that, given the particularities of financial data, the sector – both public and private parties – should come together to look at financial data and the rules around it. This does not mean isolating financial services from the broader societal debate around privacy and consumer data rights. "There needs to be a two-way flow of information and ideas", he says. With countries around the world developing their own data regulations, Douglas sees common rules as "hard to get", but considers that agreeing on a set of underlying principles would be helpful to narrow the range of geographical divergences and reduce the damage from the fragmentation.
May 13, 2019
FRT Episode 33: “Techlash” & Data Policy
00:22:47
Rob Atkinson, President of the Information Technology & Innovation Foundation (ITIF), joins FRT to discuss the emerging “Techlash” reaction against technological change, and the impacts for current debates on data privacy and protection policies (with Brad Carr).
May 06, 2019
FRT Episode 32: 3D Printing & Trade’s New Paradigm
00:23:47
FRT Episode 32: 3D Printing & Trade’s New Paradigm by Institute of International Finance
Apr 29, 2019
FRT Episode 31: Developments in Digital Assets
00:13:25
FRT ep 31: Developments in Digital Assets by Institute of International Finance
Apr 18, 2019
FRT Episode 30: New Data Ecosystem Roundtable
00:13:27
FRT Episode 30: New Data Ecosystem Roundtable by Institute of International Finance
Apr 11, 2019
FRT Episode 29: Partnering with Start-ups
00:13:14
FRT Episode 29: Partnering with Start-ups by Institute of International Finance
Mar 29, 2019
FRT Episode 28: Digital Customer Journey
00:16:06
FRT Episode 28: Digital Customer Journey by Institute of International Finance
Mar 20, 2019