Start of the Forum of Innovative Financial Technologies FINOPOLIS 2016 in Kazan
It is for the second time that the Bank of Russia and the Government of the Republic of Tatarstan are holding the Finopolis Forum, which has become the notable event in the sphere of financial technologies in Russia.
Rustam Minnikhanov, President of the Republic of Tatarstan welcomed the guests of the Forum, noting the importance of this platform for the national financial market and stressing the wiliness to host Finopolic every year. The President also drew the attention of the audience to the need to start teaching citizens to use the products of cutting-edge technologies as early in their life as possible.
Delivering the speech at the first plenary session on the financial market outlook till 2026, Elvira Nabiullina, Governor of the Bank of Russia, warned that banks may be caught in a trap if they persist in their complains about strict regulation and low interest rates, being unaware of a steady advance of financial technologies. ‘Though demand for traditional banking will remain unchanged for some time, it will be inevitably ousted by financial technologies, constituting a serious challenge for the regulator, as well as for all others, – noted Elvira Nabiullina. – Our regulatory measures shall only aim at combating systemic risks’. She also added that the Bank of Russia will adapt the regulatory ideology by implementing the principles of proportionality, considering risks and their scope, and installing a financial ecosystem whose regulatory climate will be conducive for an efficient development of all institutes.
During two days, on 13 and 14 October, representatives of companies operating in the financial market, consulting and IT business, state authorities, and companies ensuring cybersecurity and developing software packages get together in the capital of Kazan. They participate in 17 panel meetings and roundtables to discuss the regulation of innovative financial technologies and business models, and also the development of new specific technologies, such as blockchain technology, Big Data tools, Artificial Intelligence, Open API, etc.
This year, Finopolis sums up the first results of the competition of FinTech startups implementing projects in the sphere of financial technology and promoting electronic interaction in the financial market. 18 the most promising and marketable projects will be introduced to the wide audience at the Forum. The winners who have come up with interesting and unique solutions for the financial sector will be awarded grants and get supported by the mentors.
The plenary discussions are broadcast on the Forum website at www.finopolis.ru.
All information about Finopolis 2016, including the programme of the Forum is available at www.finopolis.ru, on Facebook and Twitter pages, and on Finopolis channel in Telegram.
