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The need for resilience in the face of disruption - regulatory expectations in the digital world

Type
Speech
Subtype
Central banker's speech
Date delivered
9 October 2018
Country
Ireland
Speech by Mr Ed Sibley, Deputy Governor (Prudential Regulation) of the Central Bank of Ireland, at the Financial Centre Summit, organized by Finance Dublin, Dublin, 3 October 2018.

INTRODUCTION

Good morning ladies and gentlemen. It is a pleasure to be here at the Financial Centre Summit and I thank Finance Dublin for inviting me to speak todayi.

We have entered a new era in the world of financial services. Technology change, as evidenced by the description of a fourth industrial revolutionii, is more than just an enabler for conducting business in a faster, smarter, or cheaper way, for better managing costs, or for gaining better analytical insights. It is a revolution that is completely transforming the playing field for financial services firms.

Opportunities and risks abound.