RBI Working Group report on FinTech: Key themes
|
|
- Andra Scott
- 5 years ago
- Views:
Transcription
1 RBI Working Group report on FinTech: Key themes April 2018
2 Ten key themes: Need for deeper understanding of Fintech and inherent risks Regulatory supervision, realignment of existing supervision and requirement of sector-specific supervision for various regulatory bodies Development of innovation labs and regulatory sandboxes Potential of Institute for Development and Research in Banking Technology (IDRBT) operating as a regulatory sandbox Collaborative approach via engagement amongst regulators, FinTech companies, industry incumbents and clients Introduction of RegTech for regulators Pitfalls of FinTech: Risk of privacy breaches and cyberthreats Symbiotic relationship between incumbents and FinTechs: How they can leverage FinTech Requirement for organisational changes within regulators Role of government 2
3 Understanding FinTech Currently, there is no standard definition for FinTech and regulators are trying to frame one. Given the nascence and complexity of the industry, it is imperative for regulators to first gain a deeper understanding about FinTech and its implications on the financial services industry before they can start regulating and formulating policies. There are multiple products and services which are seeing rapid growth within FinTech, and it is important for regulators to develop a more detailed understanding of the inherent risks which are posed by these products and services. Regulators need to asses the existing skill sets they have with regard to evaluating FinTech innovations and identify the gaps to up-skill themselves in order to appropriately regulate. This could be achieved via lateral inductions into the regulatory bodies. 3
4 Regulatory supervision 1 Regulators need to examine how the existing framework can be realigned to deal with the rapid structural changes being brought about by FinTech in the financial sector. 2 Depending on the risk implications, the degree of supervision and regulatory action can vary from disclosure to light-touch regulation and supervision to full-fledged supervision. 3 Given that FinTech pervades multiple financial sectors, there is a need to examine the approaches of various sectoral regulators and identify sector-specific FinTech products and services to devise a regulatory approach. 4 The regulatory and legal framework is essential for the sustained development of a digital financial industry and continuous innovations in FinTech. 5 Regulations should foster healthy competition between players, regardless of whether they offer conventional approaches or use new technological solutions. 6 They should be cognisant of the fact that the framework does not impose barriers to innovation and whether and to what extent these can be removed. 4
5 Innovation hubs and regulatory sandboxes proactively fostering innovation Regulators should look at supervisory initiatives like innovation hubs and regulatory sandboxes to efficiently manage the financial innovations in the FinTech sector. An innovation hub serves as a central point of contact and reduces regulatory uncertainty by providing guidance on the framework. It also supports innovators by helping to identify supervisory, policy or legal issues. Innovation hubs could be as simple as web pages dedicated to answering queries from innovators regarding regulations. A regulatory sandbox is a (controlled) testing environment, which may have some regulatory relief for live or virtual testing of new products or services. This could be used to carve out a safe and conducive space to experiment with FinTech solutions, where the consequences of failure can be contained. Many jurisdictions have created sandboxes for example, ASIC (Australia), FCA (UK) and MAS (Singapore). 5
6 IDRBT: A potential regulatory sandbox IDRBT has developed expertise in the area of banking technology by working closely with banks and technology companies. In view of IDRBT s unique positioning as an RBI established institute, and its expertise and experience, the institute is well placed to operate a regulatory sandbox in collaboration with the RBI. The institute can continue to interact with the RBI, banks and solution providers regarding the testing of new products and services and, over a period of time, upgrade its infrastructure and skill sets to provide a full-fledged regulatory sandbox environment. The RBI may actively engage with the institute in this regard. Other sector regulators may also leverage the expertise of IDRBT to create a sandbox for their respective solutions. This is essential to increase efficiency, manage risks and create new opportunities for consumers in the Indian context, similar to other regulatory jurisdictions. 6
7 Collaboration is key 1 2 Financial sector regulators need to adequately engage with FinTech entities in order to chalk out appropriate regulatory frameworks and realign the existing regulatory and supervisory framework. Banks should be encouraged to collaborate with FinTech/start-ups to improve their customer experience and operational excellence. 3 4 FinTech companies should take an approach that is more collaborative than disruptive. This will provide the financial services sector a sense of security because incumbent players will not be threatened by start-ups that are out not to disrupt but to collaborate. Partnerships/engagements between regulators, existing industry players, clients and FinTech firms will enable the development of a more dynamic and robust financial services industry. 7
8 RegTech: FinTech for regulators In order to cope with the advancement in technology innovations, regulators should also adopt advanced technology for supervision. RegTech is a subset of FinTech that focuses on technologies that facilitate the delivery of regulatory requirements more efficiently and effectively than existing capabilities. RegTech facilitates the various functions of regulators like regulatory reporting, risk and compliance monitoring, protecting customer interests and detecting financial crime. RegTech offers multiple benefits: - Allows data to be provided differently - Use of cloud to share services - Advanced data analytics solutions - Allows always-on, non-invasive surveillance of transactions, behaviour and communications 8
9 Pitfalls of FinTech: Risk of privacy breaches and cyber threats Vast amounts of data are being generated every day by the use of FinTech products and services, of which a significant portion is customer data. To counter this risk, there is a need for an exhaustive stand-alone legislation on data protection in India, keeping in mind the innovations in FinTech and the risk to personal data within the custody of FinTech players. The FinTech entities should ensure that their systems and infrastructure adhere to all necessary standards and specifications in order to counter any cyberthreats. Customer data can include personal and sensitive information as well, which gives rise to privacy and data protection issues in light of the increase in cyberattacks in recent times. With the dependence on IT systems increasing day by day, cyberattacks pose a serious threat with the potential to cause a systemic crisis. It is imperative that market regulators and the self-regulatory body for FinTech companies highlight the requirement for increasing customer education/awareness levels. 9
10 Symbiotic relationship: Incumbents and FinTechs Existing regulated entities likes banks, NBFCs and insurance providers can leverage FinTechs and reinforce their positions as incumbents. In the insurance sector, the adoption of digital channels to replace manual time-consuming processes will empower customers and the workforce. Innovation labs within insurance companies may be established to combine brand and product managers with technological and analytical resources. Banks may be encouraged to collaborate with FinTechs/start-ups to improve their customer experience and operational excellence. There are many applications of FinTech in the areas of payment, data analytics and risk management, where incumbents can leverage technology. Technological innovations within the financial system will make it more efficient, and also lead to an increase in competition, which in turn will benefit the end consumer. 10
11 Organisational restructuring for regulators To keep pace with the advancing industry, the regulator also needs to rethink its strategies in order to efficiently supervise the markets. The organisational structure and human resources (HR) practices of regulators need to be geared up to meet the challenges of innovation, in terms of adapted HR hiring profiles, learning and educational programmes. Identify organisational structure considerations that regulatory agencies can apply in responding to new innovations. Identify specific technologies that regulatory agencies may benefit from having or may need to have appropriate expertise to supervise. A dedicated organisational structure may be created within each regulator. This structure would focus on identifying and monitoring the challenges associated with the development of major FinTech innovations and would assess opportunities and risks for the financial system arising from these innovations. 11
12 Role of the government Some governments and regulators are backing FinTechs as a way of introducing more competition and transparency and preserving the competitiveness of the financial services industry. The government can support FinTechs/start-ups by launching FinTech-focused funds like other sovereigns in Asia. For instance, in order to develop and promote Singapore as a smart financial center, the Government of Singapore, through MAS, has committed 160 million USD to the FinTech and Innovation Scheme during the next 5 years. Similarly, in November 2016, the Hong Kong government announced a 370 million USD VC fund investment as part of its drive to position Hong Kong as Asia s FinTech hub. Given that FinTech companies are in their infancy but are growing at a rapid pace, the government may consider introducing tax subsidies for merchants that accept a certain proportion of their business revenues from the use of digital payments as opposed to cash. However, in the name of fostering competition, there should be no undue favors for newcomers to make sure that all participants have a level playing field. 12
13 Contact us Vivek Iyer Partner Mobile: Shiva Iyer Director Mobile: Romit Salecha Assistant Manager Mobile: All images in this presentation are protected by copyright, trademark, patent, trade secret and other intellectual property laws and treaties. Any unauthorised use of these images may violate such laws and shall be punishable under appropriate laws. Our sharing of this presentation along with such protected images with you does not authorise you to copy, republish, frame, link to, download, transmit, modify, adapt, create derivative works based on, rent, lease, loan, sell, assign, distribute, display, perform, license, sub-license or reverse engineer the images. In addition, you should desist from employing any data mining, robots or similar data and/or image gathering and extraction methods in connection with the presentation PricewaterhouseCoopers Private Limited. All rights reserved. In this document, refers to PricewaterhouseCoopers Private Limited (a limited liability company in India having Corporate Identity Number or CIN : U74140WB1983PTC036093), which is a member firm of PricewaterhouseCoopers International Limited (IL), each member firm of which is a separate legal entity. GM/March
of incumbents expect to increase FinTech partnerships in the next three to five years
Global FinTech Executive Summary Redrawing the lines: FinTech s growing influence on Financial Services 82% of incumbents expect to increase FinTech partnerships in the next three to five years 77% expect
More informationFinTech, RegTech and the Reconceptualization of Financial Regulation. Douglas W. Arner, University of Hong Kong Ross P. Buckley, UNSW Sydney
FinTech, RegTech and the Reconceptualization of Financial Regulation Douglas W. Arner, University of Hong Kong Ross P. Buckley, UNSW Sydney Regtech FinTech The Evolution of FinTech: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2676553
More informationThe digital transformation of the financial sector Opportunities and Challenges
The digital transformation of the financial sector Opportunities and Challenges Carlos Moura cmpmoura@bportugal.pt Deputy Head of the Information Systems and Technology Department Banco de Portugal 1 Agenda
More informationExecutive Summary Industry s Responsibility in Promoting Responsible Development and Use:
Executive Summary Artificial Intelligence (AI) is a suite of technologies capable of learning, reasoning, adapting, and performing tasks in ways inspired by the human mind. With access to data and the
More informationPan-Canadian Trust Framework Overview
Pan-Canadian Trust Framework Overview A collaborative approach to developing a Pan- Canadian Trust Framework Authors: DIACC Trust Framework Expert Committee August 2016 Abstract: The purpose of this document
More informationDistinguished guests Ladies and gentlemen Swasdee krub,
Opening Remarks BOT s Policy Direction on FinTech Development Bangkok FinTech Fair 2018: SME and Consumer Financial Solutions Dr. Veerathai Santiprabhob Governor of the Bank of Thailand Monday 19 March
More informationThe Hong Kong Institute of Directors Directors Conference 2017
The Hong Kong Institute of Directors Directors Conference 2017 Fintech: Impact on the Business World Arthur Yuen, Deputy Chief Executive Hong Kong Monetary Authority 22 September 2017 Topics Fintech landscape
More informationDiscussion Paper on the EBA s approach to financial technology (FinTech) Public hearing, 4 October 2017
Discussion Paper on the EBA s approach to financial technology (FinTech) Public hearing, 4 October 2017 Overview FinTech DP: published on 4 August 2017; consultation closes on 6 November 2017; https://www.eba.europa.eu/regulation-and-policy/othertopics/approach-to-financial-technology-fintech-/-/regulatoryactivity/discussion-paper.
More informationWe would be delighted to discuss your needs and how we could support you, so please get in touch. Our contact details appear on the final page.
Fluent in Fintech Whether you are developing, procuring, or investing in financial technology we understand the opportunities and challenges your business can face and we are keen to support ambitious
More informationGLOBAL RISK AND INVESTIGATIONS JAPAN CAPABILITY STATEMENT
GLOBAL RISK AND INVESTIGATIONS JAPAN CAPABILITY STATEMENT CRITICAL THINKING AT THE CRITICAL TIME ABOUT US The Global Risk and Investigations Practice (GRIP) of FTI Consulting is the leading provider of
More informationHong Kong Personal Data Protection Regulatory Framework From Compliance to Accountability
Legal Week s Corporate Counsel Forum 2016 Renaissance Harbour View Hotel 23 June 2016 Hong Kong Personal Data Protection Regulatory Framework From Compliance to Accountability Stephen Kai-yi Wong Privacy
More informationShould privacy impact assessments be mandatory? David Wright Trilateral Research & Consulting 17 Sept 2009
Should privacy impact assessments be mandatory? David Wright Trilateral Research & Consulting 17 Sept 2009 1 Today s presentation Databases solving one problem & creating another What is a privacy impact
More informationOur position. ICDPPC declaration on ethics and data protection in artificial intelligence
ICDPPC declaration on ethics and data protection in artificial intelligence AmCham EU speaks for American companies committed to Europe on trade, investment and competitiveness issues. It aims to ensure
More informationACPR approach to FinTechs and innovation
ACPR approach to FinTechs and innovation Nathalie Beaudemoulin Coordinator : Fintech innovation Section Prudential Supervision and Resolution Authority 1 Table of contents I. How does the ACPR adapt to
More informationSparking a New Economy. Canada s Advanced Manufacturing Supercluster
Sparking a New Economy Canada s Advanced Manufacturing Supercluster Canada s Advanced Manufacturing Supercluster Canada's Advanced Manufacturing Supercluster Strategy will leverage Canada s innovation
More informationInclusively Creative
In Bandung, Indonesia, December 5 th to 7 th 2017, over 100 representatives from the government, civil society, the private sector, think-tanks and academia, international organization as well as a number
More informationIntellectual Property
Intellectual Property 1 Overview In a progressively uncertain economy, counterfeit products are becoming more prevalent particularly in Vietnam. Therefore, companies should be increasingly vigilant in
More informationProcesses are Driving Banking Innovation Innovation Needs Organizational Support to Succeed
Opening an Account for in Banking Industry Bank through Collaboration Processes are Driving Banking Needs Organizational Support to Succeed Intellectual Property and Patents in Banking The Future of Banks
More informationTERMS OF REFERENCE. Preparation of a Policymakers Handbook on E-Commerce and Digital Trade for LDCs, small states and Sub-Saharan Africa
TERMS OF REFERENCE Reference: Post Title: NBCWG0923 Preparation of a Policymakers Handbook on E-Commerce and Digital Trade for LDCs, small states and Sub-Saharan Africa Project Location: home-based with
More informationCall for input on supporting the development and adopters of RegTech
Financial Conduct Authority Feedback Statement FS16/4 Call for input on supporting the development and adopters of RegTech July 2016 Call for input on supporting the development and adopters of RegTech
More informationEuropean Charter for Access to Research Infrastructures - DRAFT
13 May 2014 European Charter for Access to Research Infrastructures PREAMBLE - DRAFT Research Infrastructures are at the heart of the knowledge triangle of research, education and innovation and therefore
More informationEXPLORATION DEVELOPMENT OPERATION CLOSURE
i ABOUT THE INFOGRAPHIC THE MINERAL DEVELOPMENT CYCLE This is an interactive infographic that highlights key findings regarding risks and opportunities for building public confidence through the mineral
More informationSeoul Initiative on the 4 th Industrial Revolution
ASEM EMM Seoul, Korea, 21-22 Sep. 2017 Seoul Initiative on the 4 th Industrial Revolution Presented by Korea 1. Background The global economy faces unprecedented changes with the advent of disruptive technologies
More informationITI Comment Submission to USTR Negotiating Objectives for a U.S.-Japan Trade Agreement
ITI Comment Submission to USTR-2018-0034 Negotiating Objectives for a U.S.-Japan Trade Agreement DECEMBER 3, 2018 Introduction The Information Technology Industry Council (ITI) welcomes the opportunity
More informationThe EU Fintech agenda; challenges and opportunities for banks
The EU Fintech agenda; challenges and opportunities for banks Marios Katsavras Officer Supervision Division Central Bank of Cyprus 31 January 2019 1st Digital Banking & Payments Conference 1 Overview Fintech
More informationNCRIS Capability 5.7: Population Health and Clinical Data Linkage
NCRIS Capability 5.7: Population Health and Clinical Data Linkage National Collaborative Research Infrastructure Strategy Issues Paper July 2007 Issues Paper Version 1: Population Health and Clinical Data
More informationOur digital future. SEPA online. Facilitating effective engagement. Enabling business excellence. Sharing environmental information
Our digital future SEPA online Facilitating effective engagement Sharing environmental information Enabling business excellence Foreword Dr David Pirie Executive Director Digital technologies are changing
More informationOur Corporate Strategy Digital
Our Corporate Strategy Digital Proposed Content for Discussion 9 May 2016 CLASSIFIED IN CONFIDENCE INLAND REVENUE HIGHLY PROTECTED Draft v0.2a 1 Digital: Executive Summary What is our strategic digital
More informationInternet of Things Market Insights, Opportunities and Key Legal Risks
Internet of Things Market Insights, Opportunities and Key Legal Risks Heng Loong Cheong, DLA Piper Joyce Chan, DLA Piper Louise Crawford, DLA Piper December 2015 Presenters HENG LOONG CHEONG Partner, Hong
More informationSharing Session Smart City
www.pwc.com Sharing Session Smart City The Hong Kong-America Center 16 September 2017 Hong Kong and other cities are increasingly recognising the role of innovation and technology in enhancing all areas
More informationFujitsu Technology and Service Vision Executive Summary
Fujitsu Technology and Service Vision 2016 Executive Summary What is digital transformation? Today, digital technologies can be incorporated into products, services and processes, transforming customer
More informationAlert Technology Trends
Alert Technology Trends January 31, 2017 Technology Trends 2017 By Barry Fishley As 2017 begins, we consider the following key technology related trends for the year: Artificial Intelligence going beyond
More informationDISRUPT DEVELOP DEMONSTRATE SEPTEMBER 2018 MUMBAI
DISRUPT DEVELOP DEMONSTRATE 20 SEPTEMBER 2018 MUMBAI OVERVIEW India s financial ecosystem is on a roll, and technology has a very rightful place in this roller coaster upwards curve. More than technology
More informationEnforcement of Intellectual Property Rights Frequently Asked Questions
EUROPEAN COMMISSION MEMO Brussels/Strasbourg, 1 July 2014 Enforcement of Intellectual Property Rights Frequently Asked Questions See also IP/14/760 I. EU Action Plan on enforcement of Intellectual Property
More informationRECOMMENDATIONS. COMMISSION RECOMMENDATION (EU) 2018/790 of 25 April 2018 on access to and preservation of scientific information
L 134/12 RECOMMDATIONS COMMISSION RECOMMDATION (EU) 2018/790 of 25 April 2018 on access to and preservation of scientific information THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning
More informationSustainable development
Guillaume Henry Joël Ruet Matthieu Wemaëre Sustainable development & INTELLECTUAL PROPERTY Access to technologies in developing countries Overview Sustainable development, this meta-project that aims to
More informationFintech in Italy: opportunities and challenges for the digital transformation
DIGITAL TRANSFORMATION IN THE EURO- MEDITERRANEAN AREA: FINANCIAL INCLUSION AND STABILITY CASABLANCA, 17-18 May 2017 Fintech in Italy: opportunities and challenges for the digital transformation Mr. Giovanni
More informationToppindustrisenteret AS. April 2017
Toppindustrisenteret AS April 2017 Hva tror norske ledere om utfordringene? 02.05.2017 WORLD CLASS - through people, technology and dedication Page 5 + + + + + +? + + = Technology creates opportunities
More informationDIGITAL IN MINING: PROGRESS... AND OPPORTUNITY
DIGITAL IN MINING: PROGRESS... AND OPPORTUNITY INTRODUCTION The mining industry has gotten some good news lately, with a lift in commodity prices and China s infrastructure growth plans. But challenges
More informationDraft executive summaries to target groups on industrial energy efficiency and material substitution in carbonintensive
Technology Executive Committee 29 August 2017 Fifteenth meeting Bonn, Germany, 12 15 September 2017 Draft executive summaries to target groups on industrial energy efficiency and material substitution
More informationAPEC Internet and Digital Economy Roadmap
2017/CSOM/006 Agenda Item: 3 APEC Internet and Digital Economy Roadmap Purpose: Consideration Submitted by: AHSGIE Concluding Senior Officials Meeting Da Nang, Viet Nam 6-7 November 2017 INTRODUCTION APEC
More informationEnabling ICT for. development
Enabling ICT for development Interview with Dr M-H Carolyn Nguyen, who explains why governments need to start thinking seriously about how to leverage ICT for their development goals, and why an appropriate
More informationGlobal Standards Symposium. Security, privacy and trust in standardisation. ICDPPC Chair John Edwards. 24 October 2016
Global Standards Symposium Security, privacy and trust in standardisation ICDPPC Chair John Edwards 24 October 2016 CANCUN DECLARATION At the OECD Ministerial Meeting on the Digital Economy in Cancun in
More informationUSTR NEWS UNITED STATES TRADE REPRESENTATIVE. Washington, D.C UNITED STATES MEXICO TRADE FACT SHEET
USTR NEWS UNITED STATES TRADE REPRESENTATIVE www.ustr.gov Washington, D.C. 20508 202-395-3230 FOR IMMEDIATE RELEASE August 27, 2018 Contact: USTR Public & Media Affairs media@ustr.eop.gov UNITED STATES
More informationVenture Capital Search Highlights
Venture Capital Venture funding continued at the strongest pace witnessed over the past decade in 2016, and recruiting the future leaders of the industry s emerging growth companies has never been more
More informationBloomberg BNA Professional Learning Legal Course Catalog OnDemand Programs
Bloomberg BNA Professional Learning Legal Course Catalog OnDemand Programs Antitrust 1. Anti-Counterfeiting for Licensed Products: What You Don't Know Can Hurt Your Business 2. Antitrust Investigations:
More informationEVCA Strategic Priorities
EVCA Strategic Priorities EVCA Strategic Priorities The following document identifies the strategic priorities for the European Private Equity and Venture Capital Association (EVCA) over the next three
More informationWhat is gender pay gap reporting?
NEX Services Ltd What is gender pay gap reporting? NEX Services Limited, our UK entity which employs more than 250 employees in the UK, is required to publish annual gender pay gap statistics. The gender
More informationEmerging Transportation Technology Strategic Plan for the St. Louis Region Project Summary June 28, 2017
Emerging Transportation Technology Strategic Plan for the St. Louis Region Project Summary June 28, 2017 Prepared for: East West Gateway Council of Governments Background. Motivation Process to Create
More informationMEASURES TO SUPPORT SMEs IN THE EUROPEAN UNION
STUDIA UNIVERSITATIS BABEŞ-BOLYAI, NEGOTIA, LV, 1, 2010 MEASURES TO SUPPORT SMEs IN THE EUROPEAN UNION VALENTINA DIANA IGNĂTESCU 1 ABSTRACT. This paper aims to identify and analyze the principal measures
More informationEmerging technology. Presentation by Dr Sudheer Singh Parwana 17th January 2019
Emerging technology Presentation by Dr Sudheer Singh Parwana 17th January 2019 Mega trends 5 global shifts changing the way we live and do business Rapid urbanisation Today, more than half the world s
More informationLatin-American non-state actor dialogue on Article 6 of the Paris Agreement
Latin-American non-state actor dialogue on Article 6 of the Paris Agreement Summary Report Organized by: Regional Collaboration Centre (RCC), Bogota 14 July 2016 Supported by: Background The Latin-American
More informationOMCL Network of the Council of Europe GENERAL DOCUMENT
OMCL Network of the Council of Europe GENERAL DOCUMENT PA/PH/OMCL (09) 87 4R OMCL Network support for the implementation of the CoE MEDICRIME Convention Full document title and reference How the OMCL Network
More informationDIGITAL NATION APPLIED SEPTEMBER 2018
DIGITAL NATION APPLIED SEPTEMBER 2018 DIGITAL NATION VIEWPOINT ALTINN CONSIDERATIONS Copyright 2018 Accenture. All rights reserved. 2 ACCENTURE ESTIMATES THE DIGITAL ECONOMY TO BE 25% OF THE GLOBAL ECONOMY
More informationFintech & Banking: Future of Financial Services and Regulation
International Conference on Fintech & Banking: Future of Financial Services and Regulation November 26-27, 2018 (Hotel Trident, Mumbai) Fintech innovations, leveraging emerging technologies such as distributed
More informationInnovation Management & Technology Transfer Innovation Management & Technology Transfer
Innovation Management & Technology Transfer Nuno Gonçalves Minsk, April 15th 2014 nunogoncalves@spi.pt 1 Introduction to SPI Opening of SPI USA office in Irvine, California Beginning of activities in Porto
More informationIP and Technology Management for Universities
IP and Technology Management for Universities Yumiko Hamano Senior Program Officer WIPO University Initiative Innovation and Technology Transfer Section, Patent Division, WIPO Outline! University and IP!
More informationGENDER PAY GAP REPORT
WRAFTON LABORATORIES GENDER PAY GAP REPORT APRIL 2017 Introduction Wrafton Laboratories Limited is part of Perrigo, a global pharmaceutical company that provides Quality Affordable Healthcare Products
More informationCatapult Network Summary
Catapult Network Summary 2017 TURNING RESEARCH AND INNOVATION INTO GROWTH Economic impact through turning opportunities into real-world applications The UK s Catapults harness world-class strengths in
More informationBy Raghav Narsalay, Dr. Sabine Brunswicker, Mehdi Bagherzadeh and Gregory C. Roberts
By Raghav Narsalay, Dr. Sabine Brunswicker, Mehdi Bagherzadeh and Gregory C. Roberts 1 Open innovation at HP Labs A computing giant partnered with a movie studio to create a vital service for the 3D animated
More informationCannabis Practice Group
Cannabis Practice Group McMillan LLP Vancouver Calgary Toronto Ottawa Montréal Hong Kong Cannabis mcmillan.ca Practice Group 1 Medical cannabis is booming and McMillan is at the forefront of developments
More informationInformation & Communication Technology Strategy
Information & Communication Technology Strategy 2012-18 Information & Communication Technology (ICT) 2 Our Vision To provide a contemporary and integrated technological environment, which sustains and
More informationRegulating for innovation
Regulating for innovation How to encourage responsible market innovation? A2ii Consultative Forum, May 2018 Innovation is changing the way financial services are delivered in the emerging world Smart solutions
More informationTelecommunication Policy, 2060 (2004)
Telecommunication Policy, 2060 (2004) 1. Background Even though policies undertaken after the restoration of the Multi Party Democracy in Nepal appear to have moved forward the right direction, it is not
More informationDigital Transformation Delivering Business Outcomes
Global Digital Transformation Survey Report Industry Report: MANUFACTURING Digital Transformation Delivering Business Outcomes 2 Global Digital Transformation Survey Report: Manufacturing Contents Introduction:
More informationOECD Innovation Strategy: Key Findings
The Voice of OECD Business March 2010 OECD Innovation Strategy: Key Findings (SG/INNOV(2010)1) BIAC COMMENTS General comments BIAC has strongly supported the development of the horizontal OECD Innovation
More informationGlobalisation increasingly affects how companies in OECD countries
ISBN 978-92-64-04767-9 Open Innovation in Global Networks OECD 2008 Executive Summary Globalisation increasingly affects how companies in OECD countries operate, compete and innovate, both at home and
More informationIntroduction to the SMEs Division of WIPO
Introduction to the SMEs Division of WIPO Guriqbal Singh Jaiya Director Small and Medium-Sized Enterprises Division World Intellectual Property Organization 1 National Needs and Concerns Sustainable Economic
More informationGender pay gap reporting tight for time
People Advisory Services Gender pay gap reporting tight for time March 2018 Contents Introduction 01 Insights into emerging market practice 02 Timing of reporting 02 What do employers tell us about their
More informationACCELERATING TECHNOLOGY VISION FOR AEROSPACE AND DEFENSE 2017
ACCELERATING TECHNOLOGY VISION FOR AEROSPACE AND DEFENSE 2017 TECHNOLOGY VISION FOR AEROSPACE AND DEFENSE 2017: THROUGH DIGITAL TURBULENCE A powerful combination of market trends, technology developments
More informationDigital Government and Digital Public Services
Digital Government and Digital Public Services Dr Sak Segkhoonthod President & CEO Electronic Government Agency (Public Organization) 22 September 2017 1 Thailand Digital Economy and Society Development
More informationASEAN: A Growth Centre in the Global Economy
Bank Negara Malaysia Governor Dr. Zeti Akhtar Aziz Speech at the ASEAN SME Conference 2015 It is my pleasure to be here this afternoon to speak at this inaugural ASEAN SME Conference. This conference takes
More informationTransmission Innovation Strategy
Transmission Innovation Strategy Contents 1 Value-Driven Innovation 2 Our Network Vision 3 Our Stakeholders 4 Principal Business Drivers 5 Delivering Innovation Our interpretation of Innovation: We see
More informationIndustry at a Crossroads: The Rise of Digital in the Outcome-Driven R&D Organization
Accenture Life Sciences Rethink Reshape Restructure for better patient outcomes Industry at a Crossroads: The Rise of Digital in the Outcome-Driven R&D Organization Accenture Research Note: Key findings
More informationOxford Fintech Programme
Oxford Fintech Programme In recognition of both the threats facing traditional banking careers, and the myriad opportunities emerging in the fintech space, Saïd Business School, University of Oxford, has,
More informationGlobal citizenship at HP. Corporate accountability and governance. Overarching message
Global citizenship at HP Overarching message With HP s global reach comes global responsibility. We take our role seriously by being an economic, intellectual and social asset to the communities in which
More informationDesigning Trust. - Potential Value of Distributed Ledger Technologies. Hiromi Yamaoka
Designing Trust - Potential Value of Distributed Ledger Technologies Hiromi Yamaoka Director General, Payment and Settlement Systems Department Bank of Japan March 7, 2018 Hiromi Yamaoka LL.B. University
More informationPartnerships for the 2030 Agenda: Role of Science, Technology, and Innovation
Partnerships for the 2030 Agenda: Role of Science, Technology, and Innovation United Nations University October 18, 2018 Tokyo, Japan 0 Mahmoud Mohieldin Senior Vice President @wbg2030 worldbank.org/sdgs
More informationWIPO-WASME Program on Practical Intellectual Property Rights Issues for Entrepreneurs, Economists, Bankers, Lawyers and Accountants
WIPO-WASME Program on Practical Intellectual Property Rights Issues for Entrepreneurs, Economists, Bankers, Lawyers and Accountants Topic 12 Managing IP in Public-Private Partnerships, Strategic Alliances,
More informationIntergovernmental Group of Experts on E-Commerce and the Digital Economy First session. 4-6 October 2017 Geneva. Statement by SINGAPORE
Intergovernmental Group of Experts on E-Commerce and the Digital Economy First session 4-6 October 2017 Geneva Statement by SINGAPORE 4 October, Session 1 The views expressed are those of the author and
More informationThe Commission authorises the acquisition of Edison by EDF and AEM
The Commission authorises the acquisition of Edison by EDF and AEM The European Commission has authorised the proposed acquisition of the Italian electricity company Edison by the French company EDF and
More informationDigital Identity Innovation Canada s Opportunity to Lead the World. Digital ID and Authentication Council of Canada Pre-Budget Submission
Digital Identity Innovation Canada s Opportunity to Lead the World Digital ID and Authentication Council of Canada Pre-Budget Submission August 4, 2017 Canadian governments, banks, telcos, healthcare providers
More informationTOOL #21. RESEARCH & INNOVATION
TOOL #21. RESEARCH & INNOVATION 1. INTRODUCTION This research and innovation Tool provides clear guidelines for analysing the interaction between new or revised EU legislation (including spending programmes)
More informationThe Role of the Intellectual Property Office
The Role of the Intellectual Property Office Intellectual Property Office is an operating name of the Patent Office The Hargreaves Review In 2011, Professor Ian Hargreaves published his review of intellectual
More information"Made In China 2025 & Internet Plus: The 4th Industrial Revolution" Opportunities for Foreign Invested Enterprises in China
China Insights - Made in China 2025 and Internet Plus - Opportunities for foreign companies in China "Made In China 2025 & Internet Plus: The 4th Industrial Revolution" Opportunities for Foreign Invested
More informationDigital Transformation Delivering Business Outcomes
Global Digital Transformation Survey Report AUSTRALIA Digital Transformation Delivering Business Outcomes 2 Contents Introduction: Australia... 3 Key findings. 4 What is the focus of digital transformation?.
More informationDynamics of National Systems of Innovation in Developing Countries and Transition Economies. Jean-Luc Bernard UNIDO Representative in Iran
Dynamics of National Systems of Innovation in Developing Countries and Transition Economies Jean-Luc Bernard UNIDO Representative in Iran NSI Definition Innovation can be defined as. the network of institutions
More informationIntellectual Property
Intellectual Property Johnson & Johnson believes that the protection of intellectual property (IP) is essential to rewarding innovation and promoting medical advances. We are committed: to raising awareness
More informationFP7 ICT Work Programme
FP7 ICT Work Programme 2011-12 Focus on ICT Call 8 and PPP Calls Alessandro Barbagli European Commission Head of Sector - ICT Operations Roma 9 September 2011 Disclaimer: The aim of this presentation is
More informationUnlocking the blockchain
Financial institutions Energy Infrastructure, mining and commodities Transport Technology and innovation Life sciences and healthcare Unlocking the blockchain A global legal and regulatory guide Chapter
More informationTraditional & Alternative Business Models for SME Financing in Asia
Traditional & Alternative Business Models for SME Financing in Asia ESCAP Workshop on SME Access to Finance and the Role of Development Banks in Asia and the Pacific and Latin America Session 3 27 September
More informationInnovation and Technology Law Curriculum
Innovation and Technology Law Curriculum Core Courses FOUNDATIONS OF PRIVACY LAW (FALL 2016) This course explores the principles of privacy law in relation to the affairs of government, non-government
More informationUNIVERSITIES AND TECHNOLOGY TRANSFER PATENT ATTORNEYS TRADE MARK ATTORNEYS
UNIVERSITIES AND TECHNOLOGY TRANSFER PATENT ATTORNEYS TRADE MARK ATTORNEYS INDEPENDENT THINKING. COLLECTIVE EXCELLENCE. Your intellectual property assets are of great value to you. To help you to secure,
More informationthe EU framework programme for research and innovation
the EU framework programme for research and innovation Alessandro Barbagli CIP ICT NCP Infoday - Roma, 13 January 2012 The Multiannual Financial Framework 2014-2020: Commission s proposals of 29 June 2011
More informationINNOVATION : STATE OF PLAY MINING INDUSTRY SURVEY 2017
INNOVATION : STATE OF PLAY MINING INDUSTRY SURVEY 2017 SUMMARY INSIGHTS The 3rd biennial survey of more than 800 global mining leaders reveals the impact of a rapidly changing international marketplace
More informationSMART PLACES WHAT. WHY. HOW.
SMART PLACES WHAT. WHY. HOW. @adambeckurban @smartcitiesanz We envision a world where digital technology, data, and intelligent design have been harnessed to create smart, sustainable cities with highquality
More informationInnovation for Defence Excellence and Security (IDEaS)
ASSISTANT DEPUTY MINISTER (SCIENCE AND TECHNOLOGY) Innovation for Defence Excellence and Security (IDEaS) Department of National Defence November 2017 Innovative technology, knowledge, and problem solving
More informationEXECUTIVE SUMMARY. St. Louis Region Emerging Transportation Technology Strategic Plan. June East-West Gateway Council of Governments ICF
EXECUTIVE SUMMARY St. Louis Region Emerging Transportation Technology Strategic Plan June 2017 Prepared for East-West Gateway Council of Governments by ICF Introduction 1 ACKNOWLEDGEMENTS This document
More informationJapan s FinTech Vision
Japan s FinTech Vision First Comprehensive Industrial Finance Division Economic and Industrial Policy Bureau Ministry of Economy, Trade and Industry 1 FinTech: New Finance to Support the Fourth Industrial
More information9 th AU Private Sector Forum
9 th AU Private Sector Forum Robotics & Artificial Intelligence in the African Context 13-15 November 2017 Kefilwe Madingoane Director: and Policy Group Sub-Sahara and Southern Africa Intel Corporation
More information