An innovative single market for the euro

When, where

Monday, 6 and Tuesday, 7 May 2019
Press Room, ECB Main Building
Frankfurt am Main

Conference brochure


Call for participation in the ECB instant payment challenge

Globalisation and technological developments are making markets ever more interconnected, presenting the Eurosystem with a constant need for innovation in order to enhance its TARGET Services and, at the same time, foster greater cyber resilience within the financial system.

As part of its TARGET Services, in November 2018 the Eurosystem launched TARGET Instant Payment Settlement (TIPS), a new service for instantly settling payments in euro at any time of day and on any day of the year. However, European citizens still need user-friendly solutions to enable them to make instant payments with ease.

To help promote the use of instant payments across Europe, the European Central Bank (ECB) is challenging service providers to develop innovative solutions for instant payments. As part of this initiative and as a follow-up to the #TIPSapp event held on 6 February 2018, it is holding a conference on 6-7 May 2019.

See below to find out how you can attend this event and have the chance to present your solution for end-user instant payments.


Details about the challenge:
Who can participate? Payment service providers.
How can I apply to take part? Send an email to MIP.events@ecb.europa.eu, expressing your interest in taking part.
Closing date for expressions of interest 30 March 2019
When will I know if my participation is confirmed? 15 April 2019
Venue

Conference Room C1/C2
European Central Bank
Sonnemannstrasse 20
60314 Frankfurt am Main
Germany

Date of event

Monday, 6 May 2019
9:00-18:30
Tuesday, 7 May 2019
9:00–12:15

What should be presented at the event? A prototype of an innovative solution for end-user instant payments should be presented at the event.
What kind of facilities will be provided at the event?

A dedicated area will be made available for presenting your prototype and discussing it with market participants.

Cost of participation

There is no participation fee. The ECB will provide a light buffet lunch on both days and drinks at the end of the first day for all participants. The ECB will not cover any travel costs incurred.


Agenda

Monday, 6 May 2019

09:00 - 09:30

Registration

09:30-09:45

Welcome address

Sabine Lautenschläger, Member of the Executive Board, European Central Bank

09:45-10:05

Introductory speech

Technical innovations simplify and optimise many areas of life, but what impact will blockchain, token-based payments and central bank digital currencies have on society? What will the payments of tomorrow look like?

Speaker: Prof. Dr. Philipp Sandner, Frankfurt School Blockchain Center

10:05-10:20

The ECB’s approach to innovation

Like any other market players, central banks need to monitor, analyse and – where appropriate – embrace change and innovation.

Speaker: Dirk Bullmann, European Central Bank

10:20-10:50

Coffee break

10:50-11:50

Is technology the solution for the future needs of society?

New technologies, new business models and new market players are changing the financial ecosystem. What are the potentials and challenges of distributed ledger technology, artificial intelligence, tokenisation and other disruptive technologies? Is Europe well positioned? And what joint European action may be needed?

Speakers:

  • Ron Berndsen, Tilburg School of Economics and Management
  • Ashley Lannquist, World Economic Forum
  • Alexis Francis Thompson, BBVA
  • Pēteris Zilgalvis, European Commission

Moderator: Fiona van Echelpoel, European Central Bank

11:50-13:00

Lunch

13:00-14:00

Creating a true domestic market for Europe

TARGET services and regulatory reforms have laid the foundations for a European financial market. TARGET2-Securities (T2S) has streamlined securities settlement in Europe and triggered extensive harmonisation across the post-trade landscape. However, a true European domestic market has still not been fully achieved. What still needs to be done? What should be given the highest priority? Could technology be a solution?

Speakers:

  • Mauro Dognini, Monte Titoli
  • Emma Lovett, J.P. Morgan
  • Mehdi Manaa, European Central Bank
  • Mathias Papenfuss, Clearstream
  • Alain Pochet, BNP Paribas

Moderator: Jean-Michel Godeffroy, Consultant

14:00-14:30

Coffee

14:30-15:30

Modernising the world of cards

Card payments are the most used electronic payment method. But are cards the right payment solution in a digital world in which e-commerce is continuing to grow? Is data security an issue? Is there a need for national cards solutions? What is the best approach for Europe?

Speakers:

  • Pierre Chassigneux, Cartes Bancaires
  • Eric Ducoulombier, European Commission
  • Etienne Goosse, European Payments Council
  • Nicolas Huss, Ingenico Group
  • Christian Schaefer, Deutsche Bank

Moderator: Martina Weimert, Oliver Wyman

15:30-15:40

News from the hackathon lab

15:40-17:00

App challenge: on-stage pitch

Participants:

17:00-18:30

Drinks

Tuesday, 7 May 2019 (Day 2)

09:00 - 09:20

Introductory speech

What are the characteristics of Generation Z? What is their relationship to innovative technology? How does this translate into the world of payments?

Chloe Combi, Writer, Speaker and Consultant

09:20 - 10:20

How will Europeans pay?

Customers are seeking new ways to pay and technology offers new opportunities. The demand is for simplicity and speed. One swipe or two clicks is all customers want to make a payment. SEPA Instant Credit Transfer (SCT Inst) and solutions such as TARGET Instant Payment Settlement (TIPS) have laid the foundation, but is the financial sector ready to deliver? Are we compromising safety? What solutions are already available? And how can market participants collaborate to achieve a single European market-wide solution?

Speakers:

  • Alexandre Albarel, Worldline
  • Ana Herrero, Bankia
  • Frédéric Mazurier, Carrefour
  • Mehdi Manaa, European Central Bank
  • Sandra Peute, ABN AMRO
  • Axel Schaefer, Ikea

Moderator: Joy Macknight, The Banker

10:20-10:40

Single access to Eurosystem services

Two network service providers have submitted their bids for the provision of connectivity services for the TARGET Services and the Eurosystem Collateral Management System. If both bidders are awarded a concession, how will this benefit the users in terms of price and efficiency?

Speakers:

  • Saskia Devolder, SWIFT
  • Eugenio Tornaghi, SIA

Moderator: Dimitri Pattyn, European Central Bank

10:40-11:10

Coffee

11:10-11:25

Keynote

Steven Wilson, European Cyber Crime Centre, Europol

11:25-12:00

Cyber resilience of financial markets – a global challenge

A digital and interconnected world has increased the threat of cyber attacks. To improve the cyber resilience of the financial ecosystem, the Eurosystem has developed a cyber strategy. Why is the strategy needed? Why should a global approach be considered? And what will financial entities need to do?

Panellists:

  • Fiona van Echelpoel, European Central Bank
  • Giuseppe Siani, European Central Bank

Moderator: Joy Macknight, The Banker

12:00-13:00

Discoveries from the hackathon lab

  • Bluecode is the hackathon winner with a barcode-based app that enables anonymous instant payments (codes available here and here)
  • N26: developed a bill-splitting app (code available here)
  • Worldpay developed an app using Google GeoFence to authorise payment in a given area (codes available here and here)

Blog post on the ECB hackathon by Lydia Hallie, Software Engineer here

13:00-13:10

Closing remarks

Speaker: Marc Bayle de Jessé, European Central Bank

13:10

Lunch