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Review our keynote speakers in our 2024 GFH Annual Conference:
Han Seung-soo, Former Prime Minister of Korea
Dr. Han served as former Prime Minister of the Republic of Korea, Chairman of the Council of Presidents of the United Nations General Assembly, and President of the 56th Session of the United Nations General Assembly.
Dr. Han speaks about how digital finance has broken down the long-standing barriers in traditional financial services, opening the door for financial inclusion of previously underserved populations. Key factors in this transformation include the rise of mobile payments, innovation in business models, government initiatives promoting financial inclusion, full-scale adoption of technological revolutions, and the development of
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digital infrastructure. China offers a notable example of transformation, having evolved from a cash-based economy twenty years ago into a global leader in digital finance.
However, digital finance also brings challenges, such as the digital divide and new forms of financial exclusion related to cybersecurity. To advance global digital finance, three key areas need to be prioritized:
Public-private collaboration: Governments, financial institutions, and tech companies must strengthen partnerships to develop advanced regulatory frameworks that balance risk and innovation, enabling consumer protection and promoting innovation.
Green digital finance: Sustainable behavior can be encouraged by embedding eco-friendly principles into financial decisions. For example, blockchain can facilitate transparent carbon credit trading, and digital applications can help users track and reduce their carbon footprints.
Cross-border regulatory cooperation: It is essential to enhance international collaboration to address challenges arising from the borderless nature of digital finance.
Yaseen Anwar, Former Governor of State Bank of Pakistan
Mr. Anwar served as the 17th Governor of the State Bank of Pakistan, bringing over 33 years of international banking experience from JPMorgan Chase, Bank of America, and Merrill Lynch. As Governor, he led Pakistan’s monetary policy, banking regulation, and international financial engagements, including negotiations with the IMF and Asian Clearing Union.
Mr. Anwar highlights how the financial crisis and the COVID-19 pandemic have exposed the vulnerabilities of global markets and the unequal access to financing opportunities. Fintech can play a crucial role in addressing these challenges by offering innovative solutions.
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Mr. Anwar proposes that fintech development should be further advanced in the following ways:
Central banks must play a leading role: With their strong public trust and technological capabilities, central banks can support FinTech initiatives. For example, Pakistan launched a national payment platform in 2021, enabling the government to provide seamless services to SMEs and meet their growing payment needs efficiently.
Infrastructure development is essential: Robust infrastructure is key to economic development, while outdated infrastructure can hinder progress. Pakistan’s economic challenges, for instance, stem from inadequate infrastructure.
Global cooperation is crucial: Strengthening international collaboration and leveraging FinTech’s potential will help achieve financial inclusion and address climate change, ultimately fostering a more balanced and sustainable global development.
Hua Jingdong, Vice Chair of the International Sustainability Standards Board
Mr. Hua was appointed Vice-Chair of the International Sustainability Standards Board (ISSB) in 2022. Previously, he served as Vice President and Treasurer of the World Bank in Washington, D.C. and Deputy Treasurer at the Asian Development Bank in Manila, Philippines.
Mr. Hua speaks about how the digitalization of financial markets is playing a critical role in enhancing the efficiency of information disclosure, facilitating the development of a practical and globally comparable set of sustainability disclosure standards.
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This, in turn, fosters effective communication between investors and companies, promoting the long-term growth of global financial markets. For individual countries, the integration of international disclosure standards through digitalization can also significantly boost their global competitiveness.
For example, the International Sustainability Standards Board (ISSB) recently published its digital sustainability taxonomy, which translates the original ISSB standards into machine-readable digital formats. This taxonomy uses hundreds of tags to identify key data points, allowing investors to easily compare disclosures from thousands of companies with just a few clicks. The enhanced efficiency and transparency of information disclosure facilitate meaningful dialogues between investors and companies, meeting investors' information needs while helping companies convey globally comparable, comprehensive data on sustainability-related risks and opportunities.
Sergio Rial, Chairman of the Board of Directors at Vibra Energia
Mr. Rial is a seasoned global executive with extensive leadership experience in banking, finance, and agribusiness. He served as CEO of Banco Santander (Brasil) from 2016 to 2022, later becoming Chairman, and previously held executive roles at Cargill, including CFO and Board Director. Currently, he is Chairman of Vibra Energia and Ebury Partners.
Mr. Rial gave a speech on how fintech companies are increasingly taking on a vital role in providing financial services to small and micro enterprises (SMEs) worldwide.
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This support will greatly aid the survival and growth of these enterprises, create more jobs, and contribute to sustainable social and economic development.
Following the pandemic, SMEs have faced significant challenges, including the combined impact of the crisis and high transaction costs, limiting their ability to explore international markets and confining them to domestic operations. Platforms like Alibaba and Amazon have stepped in to offer fundamental services to small e-commerce businesses, making cross-border operations easier and more accessible. Furthermore, with global debt levels at an all-time high post-pandemic, mission-driven FinTech companies have the potential to expand financial inclusion by providing financing and other financial services to SMEs worldwide, thereby simplifying the lives of both businesses and consumers.
Dan LeClair, CEO of the Global Business School Network
Dr. LeClair is a globally recognized expert in business education, accreditation, and innovation. As CEO of GBSN, he leads efforts to expand access to high-quality business education worldwide.
Dr. LeClair emphasizes the importance of financial education, especially for the digital transformation of the economy and the development of digital finance. As digitization drives rapid changes in the financial industry, financial education must adapt in the following four areas to train high-level talent capable of demonstrating global leadership in the digital economy era:
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Strengthen interdisciplinary integration: Incorporate technologies such as data science and artificial intelligence into finance curricula to align with the latest trends in FinTech.
Promote lifelong learning: Establish infrastructure and systems that support lifelong and continuing education, enhancing financial vocational training programs.
Foster collaboration between academia and industry: Engage more industry professionals in financial education and academic collaborations to ensure they stay updated with the latest knowledge while helping academia stay informed about practical developments.
Maintain global communications: Advance the internationalization and standardization of higher education, research, and talent mobility.
By embracing the challenges and transforming higher education models, we can shape the future of the financial industry and achieve more inclusive development in the digital economy era.