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Finance

Finance

money-2020-evento-cabecera-BBVA

BBVA has been in Las Vegas this week, taking part in one of the world’s biggest fintech events, Money 20/20. The scale of the conference is huge - more than 11,000 delegates, including 1,700 CEOs and Presidents, from 4,500 companies and more than 85 countries around the world. BBVA’s CEO, Carlos Torres Vila and its Head of Customer and Client Solutions, Derek White, both attended, alongside several other senior leaders.

BBVA Executive Director José Manuel González-Páramo believes the success or failure of a bank in the age of digital disruption involves a combination of internal factors, such as changing the corporate culture, and external factors, like regulation. Speaking at an event organized by the U.S.-Spain Council – where participants analyzed the impact of digital disruption on both sides of the Atlantic  - BBVA’s Executive Director recalled that the banking industry is today in the process of reinventing itself.

Technological disruption can help banks comply with the ever-expanding body of financial regulatory requirements more efficiently. This was one of the takeaways of the Financial Stability Conference held in Berlin, in which José Manuel González-Páramo participated. BBVA’s Executive Board Director analyzed the regulatory framework that has emerged in the wake of the financial crisis, the need to find the right balance between financial stability and regulatory efficiency and the influence of new technologies in regulatory compliance.

Supervisor

The European Commission has published a legislative proposal to create a sort of European Securities and Exchange Commission – that is, a European agency that would centralize some of the stock exchange supervision competencies of the national authorities. Once it is approved, part of the activity that takes place on the European exchanges would come under control of the new European authority.