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

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.

The views expressed in this speech are those of the speaker and not the view of the BIS.

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.