International Banking Federation (IBFed)

🌐 EY is proud to partner with the International Banking Federation (IBFed) to shape the future of cross-border payments in response to the FSB's latest consultation. 💡 As the industry is poised to hit $250 trillion by 2027, the FSB's guidance is key to a seamless, cost-effective, and transparent global payment system. 🔍 Our joint submission with IBFed distills insights into three core areas: defining digital money 💰, ensuring fair regulatory treatment ⚖️, and advocating for adaptable, comprehensive regulations 📜. 🤝 Special thanks to IBFed and CEO Hedwige Nuyens for their collaboration. 🔗 Discover the FSB Consultation: https://lnkd.in/eqJ9b6BX 🏦 Learn more about IBFed: https://lnkd.in/eVuFyFaA 👥 For insights on how this affects your business and to navigate the evolving payment landscape, reach out to our experts: Alla Gancz, Alexander Christoph, Christopher Schmitz, Alexander Thomas, Gaëlle Saint-Supéry. #CrossBorderPayments #FSB #DigitalFinance #BankingRegulation #Innovation #DigitalPayments

Just wrapped an engaging day at the #IBFed2024 in Mumbai, hosted by the Indian Banks` Association. We also had a productive session with the Governor of the Reserve Bank of India, Shaktikanta Das, discussing the future of banking and financial regulations. Looking forward to more insightful discussions tomorrow on contemporary issues in banking. #BankingInnovation #FinancialLeadership

At the International Banking Federation (IBFed) and Canadian Bankers Association forum this week, it was a privilege to participate on the AI panel which focused on the risks and rewards of artificial intelligence in financial services. IBFed is a network of banking industry associations from around the world, including the US, UK, EU, Australia and Japan. The AI panel was comprised of Simon Kennedy, Deputy Minister of Innovation, Science and Economic Development, and Dr. Foteini Agrafioti, Head, Borealis AI & CSO, RBC, and was moderated by Natalie Heisler, Managing Director, Responsible AI, Accenture. We delved into the transformative power of generative AI in the finance sector, and discussed generative AI’s multi-faceted influence and potential, from providing better customer service to strengthening our defenses against fraud. What set this dialogue apart, and specifically because of the sophistication of Canada’s Financial Services sector, was the readiness to responsibly embrace AI. With an already robust framework for managing risk and stringent regulatory requirements in Canada that have been tested time and time again during various financial crises, we're positioned to tackle the challenges and opportunities that generative AI provides head on. But the commitments of the Canadian banking community, goes beyond adopting the principles of #safe and #trusted AI, it mandates a holistic and pragmatic approach, with mechanisms in place that consider varying degrees of risk for different use cases - and this is where I see Canada’s banks leading globally. Our vantage point from Ontario, Canada, a leader in AI innovation, allowed us to showcase through our discussion how collaborations with organizations like the Vector Institute and our banking sector are helping to translate AI safety principles into practice in really practical ways and I will share more about the outcomes of that work publicly in the months to come. Congratulations to the Canadian Bankers Association, International Banking Federation, and RBC for hosting such a great forum!

We had great constructive conversations at the first day of our International Banking Federation (IBFed) - Canadian Bankers Association Forum. Our global audience actively engaged with our Canadian experts on a wide range of compelling topics, including on: the changing risk environment; the risks and opportunities of transition finance; Canada’s new regime for retail payments supervision; the implications of Canada’s evolving industrial strategy for banking; the risks and rewards of artificial intelligence in financial services; exploring views on the energy transition and the path to net-zero; and exploring the global and North American economic outlook. Special thank you to RBC for hosting! And thank you to all of our presenters, moderators and panelists: Neil McLaughlin; Ayako Suwa; Peter Routledge of the Office of the Superintendent of Financial Institutions Canada; John Stackhouse; Sarah Thompson; Ron Morrow; Simon Kennedy; Natalie Heisler; Tony Gaffney; Foteini Agrafioti; Susannah L. Pierce; Kendall Dilling; Lindsay Patrick; Martha Hall Findlay; Craig Wright; Douglas Porter; Alex Ciappara, CFA; Darren Hannah; and Andrew Ross

Today concludes two days of productive conversations at the International Banking Federation (IBFed) - Canadian Bankers Association forum. From talks about transition finance to the risks and rewards of artificial intelligence in financial services, it’s clear that Canada’s financial sector is looking to the future to identify upcoming challenges and opportunities. After these deep discussions, I’m left feeling optimistic that our sector will be able to meet what’s coming next. Thank you to all the speakers and CIBC for hosting us in their Legacy Room Ayako Suwa, Rob Nichols, Vanessa Beggs, Hugh Carney, Karen Williston MBA, Debbie Crossman, Angus Canvin, Bob Wigley Wigley, Wim Mijs, Hedwige Nuyens, Bongi Kunene, Etienne Barel, Giorgio Trettenero Castro, Tae-Hoon Lee, Taeyoon Yoon and Masaaki Misawa

I had a very useful and interesting conversation today with our colleagues around the world about the challenges facing our economies and our banks, as Chair of the Media and Reputation Working Group of the International Banking Federation (IBFed). About a stable and healthy banking sector in the service of customers and society.