Admit it.
You’ve thought to yourself (and maybe even said out loud) that if only the regulators had listened to you, that the current regulatory environment in payments and financial services would be better. Where “better” is defined, of course, as advantaging your own particular venture or set of interests.
For instance, interchange would be lower – or higher. Regulatory oversight for non-FIs would be more relaxed – or more stringent. The government’s role in protecting consumer privacy would be more defined – or less involved. Bitcoin would be regulated – or kicked to the curb.
Turns out that it’s not all that easy to walk in the shoes of a regulator. And certainly impossible to please all of the people all – or even much – of the time.
But what if you could be regulator for a day? And decide how three of the most pressing issues in payments should be regulated – or not: Financial Inclusion, Cybersecurity and Real-Time Payments?
Now it’s your turn to try on those shoes.
And, potentially influence how the regulatory dye for these three issues is cast.
On March 19, 2015, in front of the delegates of the Innovation Project 2015, five Think-a-Thon teams will debate the regulatory pros and cons of the propositions we have devised.
But with a twist.
These debates will reflect the point of view of the regulators and regulation.
And, we have invited regulators to listen in to what is debated and discussed. The goal is to provide them with a mechanism to assess all aspects of these issues and to consider all sides of an argument when thinking about the complicated issues that are at the heart of our Think-a-Thon agenda and likely also on their own priority lists
The three issues (and working hypotheses) Financial Inclusion and Access, Cybersecurity and Real-Time Payments – are beyond the scope and control of any individual player or aspect of the ecosystem.
And, these issues all have the potential for regulatory intervention, depending upon the actions (or non-actions) of the sector.
Judges will listen in as teams debate each issue and each side and decide which side of the issue has the most compelling, sound and persuasive position. Regulators will share their reactions to what they have heard in front of our Innovation Project 2015 delegation, as well.
And, this is only open to Innovation Project 2015 delegates on a first come, first serve basis.
So, what would you do if you were regulator for a day?
Join us at Innovation Project 2015 and you just might have that chance!
Innovation Project 2015 Propositions to Debate
Background details on each of the three propositions can be found here.
FINANCIAL INCLUSION | Providing affordable access to financial services to the un- and underserved.
Propositions to Debate
CYBERSCECURITY | Protecting consumer and businesses financial information and payments data from compromise
Propositions to Debate
REAL-TIME PAYMENTS | Delivering real-time clearing and settlement of small value payments to consumers and businesses
Proposition to Debate
Join us at Innovation Project 2015 – and help us shape the future of three of the most important issues our industry will face in 2015 and beyond.