What is the future of finance?

13 August, 2019Alex Fraser

The global banking and finance industry is going through a period of unprecedented change – caused by almost continual economic, technological and political upheaval. Alex Fraser looks ahead at what will be discussed at this year's World Conference of Banking Institutes (WCBI).

WCBI 2019
Change brings with it challenges and risks, but with change also comes opportunity. So what are the challenges the sector needs to face? And where do the opportunities lie?

These are the key questions being discussed by senior members of the international banking community, regulators and government, at a global conference being held in London in September.

We’re very honoured to be hosting the 23rd World Conference of Banking Institutes (WCBI). Not only does it come at a pivotal point in our own country’s history, but increasingly it feels that the global finance sector – so critical for world economies – is in the front line of the many fundamental and pressing challenges facing our society today.

So what challenges does the sector face?

The fallout from the 2008 crisis is still being felt and the debate on the role of finance in global society continues. Climate change is having impacts across the world, affecting businesses as well as communities, with most agreeing that we all have critical roles to play in reducing global warming.

The nature of money itself is transforming and so are the skills and roles required by banks to operate effectively and grow their businesses. 

Technology is changing customer expectations and, combined with regulatory reform, is opening up the market to new models. And shifts in the political landscape are challenging established trade relationships.

Join the conversation

Conference delegates will discuss all of the challenges, but also the opportunities, such as:

  • the role of banking in a sustainable global economy
  • opportunities and challenges in global trade
  • and opportunities created by open banking.

We already have an impressive speaker list, including government ministers, regulators and industry CEOs from around the world.

On Day 1, speakers will include:

  • John Glen MP, Economic Secretary to the Treasury and City Minister
  • António Horta-Osório, Group Chief Executive, Lloyds Banking Group
  • Daniel Schmand, Global Head of Trade Finance, Deutsche Bank & Chair of the ICC Banking Commission
  • Alastair Graham, Secretary-General, Global Banking Education Standards Board
  • Ruth Wandhofer, Non-Executive Director, London Stock Exchange Group
  • Dr Paul Fisher, Fellow, Cambridge Institute for Sustainability Leadership & Visiting Professor, The London Institute of Banking & Finance
  • Alison Cottrell, CEO, Banking Standards Board

They will be followed on Day 2, by:

  • François Villeroy de Galhau, Governor, Banque de France
  • Catherine McGuiness, Chair of Policy and Resources Committee, City of London Corporation
  • Ian Dyson, Commissioner, City of London Police
  • Global Chief Privacy Officer, BNY Mellon
  • Christine Foster, Managing Director for Innovation, The Alan Turing Institute
  • Sir Nigel Shadbolt, Chairman, Open Data Institute
  • Natalie Ceeney CBE, Chair, Innovate Finance

If you want to know more about the challenges this global sector faces – and the innovative ways different organisations around the world are responding – come along to the conference and join the conversation.

Alex Fraser is CEO of The London Institute of Banking & Finance 
– the organisation hosting the 23rd WCBI in partnership with the Department for International Trade, City of London, Global Banking Education Standards Board and City & Financial.

See the full WCBI conference programme