SAFE Policy Lecture: Vilius Sapoka (Minister of Finance, Republic of Lithuania)
Title: Speed vs. Security in Europe's Financial Sector. How to Find Balance?
Speaker: Vilius Šapoka, Minister of Finance, Republic of Lithuania
Moderator: Jan Pieter Krahnen, SAFE and Goethe University
In a world where technological innovation becomes more and more interwoven with the financial sector, their potential to vitalize existing markets and to create new ones is a paramount issue to modern societies. There is a challenge to find the right balance between promoting innovations and, at the same time, protecting consumers, preventing money laundering and terrorism financing, ensuring data protection and cybersecurity. For this reason, the agendas of the G20, International Monetary Fund, World Bank, European Union, and EU member states include fintechs and block-chain technology. Lithuania’s minister of finance believes that with new challenges come new possibilities. Lithuania's success in becoming one of the fast-growing European Fintech hubs proved that new technologies could strengthen competition, contribute to growth and employment, financial inclusion and sustainable development.
Bertelsmann Stiftung kindly offers a lunch following the lecture.
Mr. Vilius Šapoka is the current Minister of Finance of the Republic of Lithuania. For 5 years, Mr. Šapoka held the position of the Director of the Financial Services and Markets Department at the Bank of Lithuania, and – prior to that – of the Chairman of the Lithuanian Securities Commission. In 2003, he holds a master´s degree in Economics from Vilnius University; he also studied in the Baltic Management Institute as well as underwent training at the European Commission.
The SAFE Policy Lecture Series aims at fostering debates on policy-relevant issues. We would be pleased to welcome you to this lecture.