Collaboration Among Banks and with Government Benefiting Economic Growth - Polish House in Davos

Debate

Speakers:
Tadeusz Kościński – Minister of Finance of the Republic of Poland
Nouriel Roubini, Economist, Professor at NYU’s Stern School of Business
László Bencsik – Chief Strategic and Financial Officer, OTP Bank
Charlotte Hogg, CEO, Visa Europe
Gilberto Caldart, President, International Markets, Mastercard,
Marek Lusztyn, Bank Pekao CEO
Moderator: Anna Celner - Global Banking and Capital Markets Leader, Deloitte
Presentation of key trends and themes: Grzegorz Cimochowski - CE FSI Leader, Deloitte

Abstract:
Collaboration among banks and with government is on the rise thanks to digitalization and European integration. Many key barriers to growth and industry challenges are best addressed through collaboration. By partnering with banks, governments can more effectively deliver financial support (e.g. loan guarantees for SMEs), achieve policy objectives (e.g. shift to non-cash payments), and provide e-services (e.g. digitalized signatures and administration). Collaborative projects among banks are helping the industry better address risk (e.g. credit bureaus), operational efficiency (e.g. shared infrastructure), and regulatory compliance (e.g. common API standards). These many examples of collaborative projects have in common a resulting improvement in competitiveness and overall business climate. This demonstrates that rising collaboration improves conditions for economic growth. While regulation is helping ensure collaboration in some common essential areas (e.g. deposit insurance fund), countries’ best practices in commercial partnerships and incentive models should be promoted to increase adoption. How to elevate collaboration in Europe to next level for the benefit of citizens and businesses? What are key accelerators and roadblocks on that path? What should be the role of different stakeholders?