A large number of central banks are conducting research on CBDC either as POCs or desktop studies. Dialogue between central bank and financial industry implies, however, prospective roles of banks remain uncertain. For example, potential expansion of eligibility as intermediary of CBDC could present new conditions of competition among broad-range of financial service providers. Nevertheless, central banks maintain confidence in banks as core of settlement systems. Another important challenge for banks includes taking a delicate balance between utilization of settlement data for financial services on the one hand, and proper protection of privacy of users on the other hand. Related issues would be prospects of enhanced efficiency of CBDC for satisfying requirements of AML/CFT which have become heavy burdens for banks. Last but not in the least, implications of CBDC for cross-border payments could be substantial for existing correspondent banking systems.
Discussion in this session will explore viable business models of banks in financial ecosystems with CBDC.
Institutions




Speakers

Amane Oshima
Fund Corporation for the Overseas Development of Japan's ICT and Postal Services
President & CEO

Tetsuya Inoue
NRI - Nomura Research Institute
Senior Chief Researcher, Financial Market & Digital Business Research Department

Miguel Álvarez Vázquez
Santander
Public Policy Expert, Digital Finance

Fahim uz Zaman
Qorus
General Manager, Middle East and Africa