Ethics in the Age of Digital Finance
Issues and Challenges
From online banking to contactless payments and cryptocurrencies, financial technology – or FinTech – is rapidly impacting the financial services industry and those who must supervise and use it. The webinar is an opportunity to discuss how new technologies impact financial services and what are the ethical opportunities and challenges raised by the digitization of finance. It will also introduce the audience to the global Prize “Ethics & Trust in Finance for a Sustainable Future” that was initiated in 2006 by the Observatoire de la Finance. Our speakers include leading experts representing viewpoints from academia and industry, including previous winners of the global Prize.
With the rise of cryptocurrencies, contactless payments and FinTech, what are the ethical opportunities and challenges raised by the digitisation of finance? Virgile Perret from Observatoire de la Finance shares more here.
Programme (in pdf)
Wednesday 31 March 2021, Online event
Moderator: Dr. Katell Le Goulven, Executive Director, INSEAD Hoffmann Global Institute for Business & Society
14.00 Welcome address and Presentation of the Global Prize Ethics & Trust in Finance for a Sustainable Future
14.15 Round Table – New Ethical Challenges Raised by Digitization of Finance
Introduction: Professor Paul Dembinski, Director, Observatoire de la Finance
Stephane Bernard, Director Euroclear, Jury Member of the Prize
Dr. Marta Rocchi, Dublin City University, Previous Prize Winner
Brett Scott, Author and Journalist, Previous Prize Winner
14.50 Open Discussion
Questions and Answers
15.10 Closing remarks
MEET OUR SPEAKERS
Stéphane Bernard is Chief Operating Officer at Euroclear Bank, a member of the Management Committee and Executive Board Member. He also heads Asset Servicing & Transaction Operations at Euroclear Bank since April 2012. In 2017, Stéphane was appointed CEO of the Euroclear Bank Poland Branch. Prior to taking his current position, Stéphane was a member of the Euroclear Bank Management Committee Advisory Group. He was an ESES Audit Committee member and also a member of the Board of Directors of the ESES central securities depositories (Euroclear Belgium, Euroclear France and Euroclear Nederland) till December 2018. Mr Bernard was COO for the ESES CSDs as well as being and part of its management committee until April 2012. Before this, Mr Bernard was Chief Executive Office of Euroclear Belgium (formerly CIK SA/NV). He was General Manager of Belgian central securities depository, from 2001 until 2006, when CIK joined the Euroclear group.
Prof. Paul H. Dembinski is the initiator and Director of the Foundation of the Observatoire de la Finance in 1996. The mission of the Observatoire de la Finance is to promote awareness of ethical concerns in financial activities and the financial sector. Paul H. Dembinski is the founder and editor of the quarterly bilingual journal entitled Finance & the Common Good/Bien Commun. Paul H. Dembinski is Professor at University of Fribourg (Switzerland) where he holds the chair of “International Competition and Strategy”. In 2019, he has been awarded a Doctorate honoris causa by the SGH-Warsaw School of Economics. Latest published book: Ethics and Responsibility in Finance, Paul H. Dembinski , Routledge, 2017.
Josina Kamerling is Head of Regulatory Outreach for the Europe, Middle East, and Africa (EMEA) region for CFA Institute, and is based in the Brussels office. She is responsible for supporting CFA Institute policy development in the region, advancing the impact of advocacy efforts, and promoting capital market integrity and investor protection. Josina participates in working groups at policy level, is a frequent speaker at high-level conferences on topics of Fair and Efficient markets, Investor Protection and Ethics. She sits on the board of Observatoire de la Finance and is co-president of the Global Ethics prize for young people in finance: The Ethics in Finance prize. Previously, Josina was a specialist adviser on financial services in the European Parliament for six years, and a Senior Banker as Head of Sales of various sales teams in financial markets both retail, institutional, central banks and corporates. She is fluent in French, English, Spanish and Italian, as well as her native Dutch.
Katell Le Goulven
Katell Le Goulven joined INSEAD in April 2018 as the founding Executive Director of the Hoffmann Global Institute for Business and Society. Previously with UNICEF, she founded a Policy Planning unit to analyze global trends and emerging issues and inform UNICEF’s strategic positioning, and led UNICEF’s corporate engagement with International Financial Institutions. She has held senior positions with high-level commissions that defined the policy implications of the data revolution, climate change, and global public goods for the development agenda. She has over 20 years of professional experience at the interface of research and decision-making designing policies and strategies, and advising senior executives in international organizations and governments. She holds a PhD in agricultural economics, a Msc. in tropical agronomy, and an engineering degree. She lives in Fontainebleau with her husband and three children.
Marta Rocchi is an Assistant Professor in Corporate Governance and Business Ethics at DCU Business School. Marta holds a PhD in Business from the University of Navarra (Pamplona, Spain) with a specialization on the ethics of finance. She was awarded the 1st prize ex-aequo of the “Ethics and Trust in Finance” Global Award of the Observatoire de la Finance in 2019, and the “Society for Business Ethics Founders’ Award” in 2016 as Emerging Scholar of the Society for Business Ethics. Marta teaches Business and Professional Ethics; her research focuses on virtue ethics in business and finance, and the ethical dilemmas of the digital world. She published in prestigious journals in the business ethics field: Business Ethics Quarterly, Journal of Business Ethics, and Business Ethics: A European Review.
Brett Scott is an author, journalist and economic hacker exploring the intersections between money systems, finance, digital technology and cities. He is the author of The Heretic’s Guide to Global Finance: Hacking the Future of Money (2013), and collaborates with a wide range on groups on diverse topics, including banking systems, alternative currencies, financial activism, digital finance, blockchain technology, hacker culture, technology politics and the dynamics of cashless society. He has spoken at over 260 events in 32 countries, has written for publications such as The Guardian, New Scientist and CNN.com, and has appeared in a wide range of TV shows, radio and documentaries. He won third place in the 2016/2017 Ethics and Trust in Finance Prize for work on the ethics of fintech, and was also a finalist in the 2014/2015 prize for work on blockchain technology. He tweets as @suitpossum
Professor Zemsky has been a faculty member at INSEAD since 1994 and a member of the school’s leadership team since 2010. As Deputy Dean, he is responsible for external relations including fundraising, alumni relations and communications. As Dean of Innovation he is responsible for the school’s digital strategy including the development of its award winning online courses. Professor Zemsky is a leading scholar in the economics of strategy, where he develops rigorous analysis of topics such as disruptive technologies, the trade-offs between value creation and value capture, and the choice of generalist versus specialist strategies. His doctoral students have been recognized three times for having the best dissertation in strategy by the Academy of Management. Professor Zemsky is a passionate educator. He teaches about strategy in the face of technology change and industry dynamics. He currently offers the popular online executive education course Strategy in an Age of Digital Disruption. He led the development of large scale customized online courses for leading companies including Accenture, Microsoft and Schneider Electric. These courses have been recognized with gold medals by the Chief Learning Officer’s Learning in Practice Awards for “Excellence in Blended Technology” and “Excellence in Academic Partnerships”, by Brandon Hall for “Best Results of a Learning Program” and “Best Unique or Innovative L&D Program” and by EFMD for “Excellence in Professional Development”.