G20 conference to discuss digitalisation of financial sector
"Digitising finance, financial inclusion and financial literacy" will be the title of a high-ranking conference to take place in Wiesbaden on 25 and 26 January in the context of the German G20 presidency. At the invitation of the Deutsche Bundesbank and the Federal Ministry of Finance, over 180 G20 delegates, academics, government experts and representatives of the private sector will meet in Biebrich Palace to discuss the opportunities and risks of the digitalisation of the financial sector.This topic is one of the finance track priorities set by the German G20 presidency.
Alongside Bundesbank president Jens Weidmann, the conference participants include Thomas de Maizière, Federal Minister of the Interior; Wolfgang Schäuble, Federal Minister of Finance; Mark Carney, Governor of the Bank of England; and Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank. Her Majesty Queen Máxima of the Netherlands will give the opening speech in her capacity as Special Advocate for the United Nations.
Opportunities and risks of digitalisation
The experts will address various aspects of digitalisation in workshops, panel discussions and speeches. For example, innovative technologies can encourage competition, transparency and efficiency in the financial sector. However, the new possibilities also harbour risks such as intensified herd behaviour in financial markets and the increased shifting of particularly risky business into less regulated parts of the financial system.
The participants will also address the question of how digital tools can encourage financial inclusion as well as discussing the financial literacy requirements that this will entail. The conference will provide a forum for analysis and the exchange of views between academics, practitioners and official bodies. The results will also be used for debates at subsequent G20 meetings on shaping digitalisation, including the meeting between finance ministers and central bank governors in Baden-Baden on 17 and 18 March.
"Shaping an interconnected world"
Germany will hold the presidency of the Group of Twenty (G20) until the end of November 2017, under the motto of "shaping an interconnected world". This informal union, comprising the 19 most important industrial countries and emerging markets and the European Union, is the central forum for informal international cooperation. As well as shaping digitalisation, the German presidency's priorities will include enhancing economic resilience and encouraging investment in Africa.
Live stream broadcast and transmission
The entire conference can be viewed on demand.
Downlink parameters for transponder signal use by TV stations
TV stations are able to receive transmission of the event via a transponder signal. We ask that you check the parameters again before the transmission, as these may change at short notice. The event will be transmitted live from 14.00 to 19.30 CEST.