The views expressed in this presentation are the views of the author and do not necessarily reflect the

views or policies of the Asian Development Bank Institute (ADBI), the

Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and
accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.

What happens when

digital financial services
change faster than
banking rules
and regulations?
Marcelo Corrales
Erik P.M. Vermeulen
 Exponential Growth of Technology
“Data” Is The New Oil
and “Intelligent
Information”
is the New Currency!

Platforms
Social Media
PC Internet

1980 1990 2000 2010 2020 2025

 Exponential Growth of Technology
IoT
AR/VR Sensors

Big Data Blockchain

DLT

Deep
Learning Machine
Learning

Centralized
Platforms
Social Media
PC Internet
Decentralization

1980 1990 2000 2010 2020 2025

 WORKING TOGETHER FinTechs
Banks
TechFins
Digitizing

Scaling
SETTING UP
SUBSIDIARIES
 AI Solutions Chatbots

New Products, Services & Business Models

Mobile Apps

Mobile-only Banks
Open APIs (Application Programming Interface) and
“open source software” attracts “developers” who
can create very specific customized app solutions
(which can help engage and retain customers)
 Regulatory Responses

Data-driven Principles Sandbox

Prof. Gillian Hadfield “Our existing
regulatory tools, like the online terms and
conditions that we all blithely accept, and
the complex regulations that government
bureaucracies pile on, are not up to the
task.

They are not fast enough, smart enough, or

accountable enough to achieve what we
want them to achieve, whether that’s
greater privacy, data security, or personal
safety. And they are too expensive for most
people to rely on"

Examples:

Microsoft’s leading efforts to build global

standards for privacy and cybersecurity.

Google submitting to AI safety principles

Join the conversation!

marcelo.corrales13@gmail.com
e.p.m.vermeulen@tilburguniversity.edu
medium.com/@erikpmvermeulen
@erikpmvermeulen
Erikpmvermeulen