The Central Bank of Brazil (BCB), in partnership with the Delegation of the European Union to Brazil (DELBRA), held on November 19th the EU- Brazil International Seminar - Sharing experiences in the supervision of payment institutions. The event is part of a project supported by the Sector Dialogues.
Representing DELBRA at the opening of the seminar, Counsellor Carlos Oliveira pointed out that some years ago the EU adopted "a set of actions aimed at improving the efficiency and effectiveness of payment systems in the European context". In his words, "it is in the EU's interest to share this experience with strategic partners like Brazil.”
According to Oliveira, in addition to promoting more efficient payment systems, the measures in this area should also prioritize "consumer protection and the democratization of financial systems.”
Harold Espínola, head of the Department for Cooperatives and Non-Bank Financial Institutions Supervision - DESUC of the Central Bank of Brazil, emphasized that things have never moved so fast. "In this environment of FINTECHs, payment APPs, among others, many people talk about disruption. But even those who are causing these disruptions today may be surprised by some unexpected novelty. It's a very challenging world. No regulatory framework can keep up with all these innovations. That is our biggest challenge."
Vinay Pranjivan, a Portuguese specialist in EU payments and member of the European Banking Authority (EBA), presented the payment environment in the EU and the specificities of some of the main countries: France, Germany, Italy, Spain and the Netherlands
Pranjivan explained that there are institutions overseeing payment systems within the EU, such as the European Central Bank, which is responsible for monetary policy and the preventive supervision of credit institutions in the bloc. National authorities also operate in compliance with the laws of each country to meet the targets set.
Robbert Grijseels, supervisor of De Nederlandsche Bank (DNB), the entity responsible for payment institutions in the Netherlands, spoke about the Dutch model, considered one of the most advanced in the world. In his country, 99.6% of the population has a bank account and over 95% of people have access to the Internet, facilitating instant methods of payment.
Among the participants was Geoffroy Goffinet, Deputy Director of Authorisations (ACPR) of the Banque de France, alongside members of different areas of the Brazilian Central Bank.
Ricardo Terranova Favalli, BCB supervisor and in charge of this project under the Sector Dialogues, spoke about the importance of Brazil and the EU sharing their experiences in this area. "We are experiencing the internationalization of payment institutions. We need to talk about security across borders. The solutions are technology intensive, so it is crucial that we share experience. The learning is mutual in this project supported by the Dialogues".
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