The world of finance facing Covid

The Covid-19 epidemic upsets our benchmarks, profoundly changes our daily lives. The world of finance is no exception to this phenomenon. How does it transform when, already, we now pay our wand without contact? Was finance ready to absorb this type of risk? “L’Obs” asked the question to five experts gathered for the conference organized around finance, at the Cité de l’énergie.

> Their answers can be found in the video below:

1 – Marc Fiorentino, co-founder of“The Covid is a laboratory that allows us to observe today what should have happened in 2049 and, because of the Covid, will occur in 2039, or even in 2030.”Why finance should help society, by youtubeur Gilles Mitteau from the “Heu? Reka” channel

2 – Valérie Fasquelle, Director of Payment Supervision and Market Infrastructures, Banque de France:

“The raising of the ceiling for bank cards for contactless payment had absolutely incredible success when the first confinement was released on May 11, so yes, the Covid is a factor of acceleration, but a trend of digitization fund that already exists for payments. “

3 – Alexander Stashchenko, co-founder of Blockchain Partner and Chairman of Chaintech:

“The pandemic, so far, has not systemically changed the way of thinking and functioning of current banking institutions. For the moment, this is an adaptive change: we have banks that are undergoing and must adapt to organize teleworking and ensure that we can continue financial services from a distance. This is an evolution which should have taken place a long time ago but which, for lack of competition, did not take place. Today, we see that it is necessary, it is very good but that does not fundamentally change, for example, the investments of these banks in fossil fuels, in polluting industries… ”

4 – Jezabel Couppey Soubeyran, money economist:

“In fact, the health crisis is a very different crisis from the financial crisis and it is not certain that by managing with the instruments that we used to face the financial crisis, we are doing so well. … ”

5 – Jean-Pierre Landau, economist:

“It would be good if, in the future, knowing that such events can happen, we develop financial instruments that make it possible to insure against them. There are beginnings of what are called “catastrophe bonds” but which have not worked very well since the start of the Covid, but it is surely a path and it would be very good financial innovation. A good financial innovation is one which protects the company against risks, which distributes the risks over time, which distributes the risks between the agents. “Will we still have lunch with our colleagues in the company of 2049?

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