Finance in the Era of Big Tech

Asia Summit 2019

Finance in the Era of Big Tech




The financial industry is at a crossroads, as artificial intelligence and big data change the way institutions set strategy and provide services. In a race for control, banks and other traditional institutions are building ever-more sophisticated IT systems, while emergent tech companies find new ways to disrupt the old guard. But they are both under threat from Big Techs, with its unrivaled ability to deploy AI and customer data. More often than ever, policymakers find themselves in uncharted territory. From gains in efficiency and financial inclusion to unprecedented access to information and a wide customer base, big techs' entry presents new and complex trade-offs between financial stability, competition, and data protection. How is the global financial system evolving at the intersection of data science, e-commerce, and finance?

Custom Author Text


Li Xin

Vice President, Caixin Media; Managing Director, Caixin Global



Jingdong Hua

Vice President and Treasurer, The World Bank


Claude Lopez

Director, International Finance and Macroeconomics, Milken Institute


Sopnendu Mohanty

Chief FinTech Officer, Monetary Authority of Singapore


Brian Quintenz

Commissioner, U.S. Commodity Futures Trading Commission


Wimboh Santoso

Chairman, Indonesia Financial Services Authority

Published September 29, 2019