Technology is one of the main forces to have an impact on the financial sector, says ARB

There are 3 main forces that have an impact on the financial and banking sector, according to Sergiu Oprescu, Executive President of Alpha Bank and President of the Romanian Association of Banks (ARB).

2018-03-28 16:42:07

The Diplomat-Bucharest organized today the second edition of Digital Finance Conference, in partnership with ACCA and Oracle, and the support of ARB, Smart Everything Everywhere, ANIS, All to Know.

According to Sergiu Oprescu, the first force refers to customers preferences and the change of mentality. "The second force is technology, with all its subcomponents. The third one is the regulation and the way it is applied. Some say we have have entered an area of overregulation. These forces must be viewed independently, but also in correlation to see future business models."

Furthermore, Yannis Jacob-Draghici, Solution Consultant Director, Oracle, said: "Romania is one of the most competitive markets and it is very difficult to sell value in these conditions. Moreover, because wages are not growing as fast as prices, the number of clients in the financial-banking sector is suffering. Companies are trying to lure customers in a very small sector."

The full report of the event will be published in the next issue of The Diplomat-Bucharest magazine.