The Future of Finance Meetings

Digital Identity

The Future of Finance Meetings for 2021 will bring together a variety of high-profile financial speakers.  We will host a series of discussions, articles and interviews across all of our chosen themes:  Data, Digital Identity, Securities, Asset Management, Law and Regulation, Payments, Money, Insurance, Pensions, Real Estate, Technology and Funding FinTechs.  Follow this page for further updates.

  • 22/12/2020 - Interview 0 Comments
    What FATF thinks about digital ID, RegTech and SupTech

    March 2020 was an important date in the history of digital identity. That month the Financial Action Task Force (FATF), the international regulatory organisation that has for 30 years set the global standards in fighting financial crime, published a paper which stated that digital identity had “reached an inflection point.” If FATF thinks digital identity can make a contribution to customer due diligence, a financial services industry spending hundreds of billions on KYC, AML, CFT and sanctions screening checks ought to be interested, yet the response so far is muted. Dominic Hobson asked Tom Neylan, a senior policy analyst at FATF in Paris, what progress FATF detects.

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  • 22/12/2020 - Interview 0 Comments
    What LEIs are doing to make digital identity happen

    Legal entity identifiers (LEIs) began as a G20-mandated solution to a problem uncovered by the financial crisis of 2007-08: the difficulty banks had in identifying their true counterparty in a transaction, and the systemic risk this created. Since the first meeting of the Global LEI Foundation (GLEIF) in Zurich in June 2014, digital identity has emerged as a potential solution to another problem: the mounting cost of KYC, AML, CFT and sanctions screening checks. Since corporates need identities just as much as individuals, the affinity between LEIs and digital identities are certainly suggestive. But are they more than that? Dominic Hobson asked Stephan Wolf, CEO of GLEIF.

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  • 26/11/2020 - Interview 0 Comments
    Interview with Greg Medcraft

    Future of Finance interview with Greg Medcraft, Director of the Directorate for Financial and Enterprise Affairs at the OECD. Greg spoke with Dominic Hobson about the OECD’s Blockchain best practice guidance; Regulation around tokenisation; Digital Identity

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  • 02/11/2020 - Dominic Hobson 0 Comments
    THE PROMISE AND THE POWER OF DIGITAL IDENTITY MEETING SUMMARY Part I

    A SUMMARY AND FULL REVIEW OF THE DISCUSSION AT THE WEBINAR ON 21 OCTOBER 2020


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  • 28/09/2020 - Article 1 Comment
    THE PROMISE AND THE POWER OF DIGITAL IDENTITY

    Banks, asset managers and insurance companies and their corporate clients are spending tens of billions of dollars a year conducting Know Your Client (KYC), Anti Money Laundering (AML), Countering the Financing of Terrorism (CFT) and sanctions screening checks as they on-board new clients and re-run checks on existing clients. In 2019 Lexis Nexis put the total cost of AML compliance in the financial services industry of the United States at US$26.4 billion and in Canada at a further $5.1 billion. In 2017 the company estimated the equivalent figure for just five countries in Europe at $83.5 billion a year.

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