3rd Frankfurt Conference on Financial Market Policy: Digitizing Finance
Finance – meaning markets as well as institutions, banks or non-banks – is ultimately about matchmaking. Information as well as incentives are at the business’ core. Products offered can be decomposed into (or re-composed from) basic functions. Only recently, however, big data (massive in volume, highly complex and rapidly changing) and, as importantly, the tools (algorithms) processing them, do impact the landscape of finance. With increasing intensity – and potentially big time. This spells challenges and opportunities: for customers, service providers and those in charge of consumer protection as well as systemic stability. Hence, this is a monetary policy issue also. Our 3rd Frankfurt Conferences on Financial Market Policy will shed light on those topics – and ponder questions, going forward.
Raimond Maurer (Dean, Faculty of Economics, Goethe University)
Jan Pieter Krahnen (SAFE and Goethe University)
Keynote address: Peter Praet (Board Member, European Central Bank)
Monetary Policy as Data Processing
Panel 1: High volume, highly unstructured data – finance’s new background conditions
Loriana Pelizzon (SAFE and Goethe University), Aurel Schubert (ECB), Paul Robinson (Bank of England), Stefan Mittnik (LMU Munich)
Chair: Hans-Helmut Kotz (SAFE and Harvard University)
Panel 2: FinTechs— Disrupting and performance enhancing?
Andreas Hackethal (SAFE and Goethe University), Alexander Isakov (Pallantius), Joachim Schmalzl (Sparkasse KölnBonn), Axel Wieandt (WHU)
Chair: Jürgen Schaaf (European Central Bank)
Panel 3: Banking on big data – different policy issues?
Andreas Dombret (Deutsche Bundesbank), Philipp Koch (McKinsey), Stefan Rüping (Fraunhofer-Institut, IAIS), Theodor Weimer (HypoVereinsbank – UniCredit Bank AG)
Chair: Günter Beck (SAFE and University of Siegen)