Technological development brings new risks to the financial sector says Kilvar Kessler at the RAID conference


Head of the management board at Finantsinspektsioon Kilvar Kessler spoke to the RAID 2023 conference about technology and innovation in the financial sector and about new technological risks. He was speaking at the conference on a panel that focused on the risks and opportunities of digital currencies.

Head of the management board at Finantsinspektsioon Kilvar Kessler told the RAID 2023 conference that blockchain technology and other such innovations allow financial services to be provided faster, more accurately and with less risk. “Technology is developing very fast in the financial sector, and this is causing new types of technological risk. Regulations like the European Union’s MICA regulation on crypto markets and supervisors like ourselves need to remember that good dialogue with the market is needed and we must be aware of the environment”, he said.
The RAID (Regulation of AI, Internet & Data) Digital conference was held online on 3 May and the topic of it was Bridging Parallel Lines. The RAID conference was addressed by ministers, European Commissioners, data protection commissioners, members of the European Parliament, heads of competition authorities, policy makers, regulators and experts from Europe, Asia and America.

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