About the conference
Joint conference by the Research Group of the Basel Committee on Banking Supervision, the European Central Bank and the Centre for Economic Policy Research, ECB, Frankfurt, 9-10 December 2025.
Technological innovations have the potential to reshape the financial ecosystem, creating opportunities for financial market participants, including banks and prospective new entrants. This conference features research studying how the adoption of innovation by banks and other financial market participants may introduce efficiencies and enhance services, or translate into increased financial and non-financial risks.
Day 1 - 9 December
Mario Quagliariello, European Central Bank
09:15 - 11:40
Chair: David Lynch, Board of Governors of the Federal Reserve System and Co-Chair of the Research Group
| "Ex machina: financial fragility in the age of artificial intelligence" | |
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| paper presentation | Kartik Anand (Deutsche Bundesbank) Discussant: Tamas Vadasz (KU Leuven) |
| "Disciplining banks through disclosure: evidence from CFPB consumer complaints" | |
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| paper | Jeffrey Jou (Wharton School, University of Pennsylvania) Discussant: Cédric Huylebroek (KU Leuven) |
| "The double-edged sword of big data and AI for the disadvantaged: a cautionary tale from open banking" | |
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| presentation | Savina Kim (University of Edinburgh Business School) Discussant: Toni Ahnert (European Central Bank and CEPR) |
Claudia Buch, Chair of the SSM Supervisory Board of the European Central Bank | Speech
Chair: Luc Laeven (European Central Bank)
13:30 - 15:30
Chair: Klaus Düllmann (European Central Bank)
| "Bank specialisation in lending to new firms" | |
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| presentation | Diana Bonfim (Banco de Portugal, Católica Lisbon and CEPR) Discussant: Jean-Edouard Colliard (HEC Paris and CEPR) |
| "Supervisory-driven credit reallocation" |
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Franco Fiordelisi (University of Essex) Discussant: Tihana Skrinjaric (Bank of England) |
| "Synthetic, but how much risk transfer?" | |
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| paper presentation | Alex Osberghaus (University of Zurich and Swiss Finance Institute) Discussant: Smith Williams (Federal Deposit Insurance Corporation) |
16:00 - 18:00
Chair: Smith Williams (Federal Deposit Insurance Corporation)
| "Information and market power in DeFi intermediation" | |
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| paper presentation | Pablo Azar (Federal Reserve Bank of New York) Discussant: Co-Pierre Georg (Frankfurt School of Finance) |
| "Banks' specialisation and private information" | |
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| paper presentation | Alejandro Casado (Bank of Spain) Discussant: Tobias Berg (Goethe University Frankfurt and CEPR) |
| "If you don't know me by now..."- Information collection by banks in lending to private firms | |
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| paper presentation | Stijn Claessens (Yale School of Management and CEPR) Discussant: Daniel Foos (Deutsche Bundesbank) |
Day 2 - 10 December
09:00 - 11:30
Chair: Alexander Schulz (Deutsche Bundesbank and Co-Chair of the Research Group)
| "Platform credit, advertising, and customer capital" | |
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| paper presentation | Matthias Efing (HEC Paris) Discussant: Kathy Yuan (London School of Economics and CEPR) |
| "Mind the app: Do European deposits react to digitalisation?" | |
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| paper | Luisa Fascione (RBB Economics) Discussant: Claudia Girardone (Essex Business School) |
| "Digital technology, legal reforms, and bank lending" | |
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| paper | Yi Huang (Bank for International Settlements and CEPR) Discussant: Sarah Zhang (Alliance Manchester Business School) |
Jon Danielsson, London School of Economics | Presentation
Chair: Alexander Schulz (Deutsche Bundesbank and Co-Chair of the Research Group)
| 13:30 - 15:30 Competition in the banking sector: How will technological innovations affect the banking sector and the future of banking? |
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Chair: Sharon Donnery (European Central Bank, Member of SSM Supervisory Board) Matthias Kröner (Managing Partner GFTN Europe, former CEO Fidor Bank) |
David Lynch (Board of Governors of the Federal Reserve System and Co-Chair of the Research Group)