Christine Lagarde, head of the IMF, held an open lecture at the ESMT in Berlin on April 11. The event entitled “Innovation, Technology and Growth” focused on the opportunities and risks of technological progress as well as recommendations by the IMF to governments on how to han-dle these risks.
On 16 March 2017, BaFin – Germany’s financial regulator – held its fourth information meeting on the supervision of IT for banks with roughly 500 attendees. The press and media coverage (FAZ, Handelsblatt, Börsenzeitung) placed emphasis on the vulnerability of bank IT systems to attacks and the need for them to improve their IT security, whereas BaFin and the Bundesbank announced important details regarding future supervision and monitoring of bank IT, with keynote presentations on BAIT (supervisory requirements for bank IT), monitoring of IT matters in practice by banking regulators, and the implementation of the IT Security Act by means of the Federal Office for Information Security Act (BSI) and the Payment Service Directive (PSD) II.
On 21 March 2017 the expert conference “Customer identification and conclusion of contracts without media disruption took place. Two topics were in the focus of discussion: (1) video identification methods and (2) trust services (with a focus on qualified electronic signatures QES), following the overarching question if video identification and QES provide viable solutions for the digital future of banks. First, the legal frameworks have been presented with additional practical examples about introducing a video identification method and finally outlining application scenarios for trust-services.