Madam Chair, dear Marie-Anne, Ladies and Gentlemen,
I am delighted to welcome you to the Banque de France for this new edition of the ACPR-AMF Fintech Forum, my first as Governor. Ten years after its creation, this Forum remains as relevant as ever: it serves as a space for dialogue between supervisors and players in the field of financial innovation. It has a two-fold ambition: to help us understand one another better and to jointly identify the conditions necessary for innovation to flourish. I will structure my remarks in three parts: first, one conviction regarding the role of fintechs in the European financial sector; second, two principles to guide the actions of supervisors; and finally, three challenges that I believe will be decisive for the coming decade.
1. One conviction: a vital ecosystem for France and Europe
Let me begin with a conviction. Fintechs, which today account for more than 1,200 companies and close to 55,000 jobsi in France, are a key driver of our financial sector’s dynamism. In just a few years, they have demonstrated their ability to transform technological advances into innovative financial services and efficiency gains for the entire industry. Their contributions are numerous: peer-to-peer payments, integrated e-invoicing and business accounting solutions, new lending methods and even new ways of distributing insurance.